Akin Gump Strauss Hauer & Feld LLP

01/23/2020 | Press release | Distributed by Public on 01/24/2020 17:31

Akin Gump Lawyers Pen Texas Lawyer Article on Opportunities for Renewable Energy in Texas

In their article 'The Next Great Texas Energy Resource: Renewable Energy in the 2020s,' which was published by Texas Lawyer, Akin Gump partner Matt Kapinos and associate Hayden Harms examine some of the possibilities for renewable energy in Texas. They observe that several factors will contribute in the coming years to greater involvement for renewable energy for companies based in the Lone Star State.

Kapinos and Harms write that Texas first met and surpassed its renewable portfolio standard goals 14 years ahead of schedule, due to 'largely renewable energy-specific companies or financial investors that were not significant players in the traditional energy industry.' In the years ahead, though, they say this will change, with major multinational energy companies having made 'public commitments to reduce their carbon emissions, invest in carbon reducing technologies (such as those related to bio-diesel production or electric vehicles), and purchase renewable power.'

The article outlines the ways in which companies are demonstrating greater involvement with renewable generation. It then concludes by noting that Texas, with its 'natural wind and solar resources, combined with a practical approach to regulation and an industry constantly focused on innovation (and profitability)' is well positioned 'to be a leader in the development, implementation, and use of renewable energy' in the years ahead.