By Kacey Wilkins, HARC
(Houston, TX) – HARC’s team announces the first in a series of white papers providing an analysis of the risks within Texas’ power sector, Powering the future: Texas Power Sector Pivoting to Climate Resilience. This position paper provides keen insight into the changing landscape of climate risk disclosure and climate change impacts on the power sector in Texas while highlighting key opportunities for resilience during this crucial time.
The Texas power sector is at a crossroads, grappling with growing energy demand and the impacts of climate change. Investors, regulators, insurance companies, and rating agencies recognize the risks associated with climate change impacts and call for greater transparency. Beyond the growing push for decarbonization of the energy system, extreme weather increasingly affects business operations and the bottom line.
Stakeholders within the power sector need to act on climate risks. Boosting climate resilience provides unprecedented opportunities to transform business as usual. Given the long-life span of energy assets and infrastructure, leveraging critical investment decisions towards resilience opportunities is paramount. Stakeholders need better data and tools to identify, assess, and prepare for climate risk.
Key takeaways from the position paper include:
“Climate impacts produce more intense, more wild weather results,” states Gavin Dillingham, Vice President of Research for HARC. “Prior to the Winter Storm, the discussion was on whether the state could manage higher summer peak temperatures, but now the dialogue should broaden to include all other weather-related impacts and the risks associated with each.”
Powering the future: Texas Power Sector Pivoting to Climate Resilience is co-authored by Maya Velis and Gavin Dillingham of HARC.
HARC is a nonprofit research hub providing independent analysis on energy, air, water and climate issues to people seeking scientific answers. Its research activities support the implementation of policies and technologies that promote sustainability based on scientific principles. HARC is a 501(c)(3) nonprofit organization building a sustainable future in which people thrive and nature flourishes. For further information, contact HARC at (281) 364-6000 or visit www.HARCresearch.org. Connect with HARC, via Instagram, LinkedIn, Facebook or Twitter. Like or follow @HARCresearch.