Solar Power to Surpass Coal Generation in Texas This Year: Your Daily Energy News

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News highlights compiled by Industrial Info Resources (Sugar Land, Texas) dealing with the energy markets.

Power

EIA: Solar to Surpass Coal-Fired Power in Texas in 2026
In its latest Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecasts solar generation on the Electric Reliability Council of Texas (ERCOT) grid that serves most of Texas is forecast to reach 78 billion kilowatt-hours (kWh) this year, compared with coal-fired power's 60 billion kWh, marking the first time solar power is expected to surpass coal-fired generation in the state. Industrial Info Resources data show 30 high-probability utilty-scale solar power construction projects set to be completed in 2026 in Texas, valued at $10.4 billion.

Crude Oil

OPEC Cuts 2026 Oil Demand Growth Forecast
The Organization of Petroleum Exporting Countries (OPEC) on Wednesday lowered its global crude oil demand growth forecast, projecting demand will increase 1.17 million barrels per day (bpd) this year, down from its previous forecast growth of 1.54 million bpd.

Terminals

U.S. Crude Oil, Gasoline Inventories Fall
The EIA reports that U.S. crude oil inventories declined 4.036mn barrels in the week ending May 8. Gasoline inventories decreased 4.084 million barrels, and distillates were near flat, up 190,000 barrels week-on-week.

Key Takeaways

• The EIA projects solar power generation on Texas' ERCOT grid will reach 78 billion kWh this year, surpassing coal-fired power for the first time.
• OPEC has lowered its oil demand growth forecast for this year.
• U.S. crude oil and gasoline inventories declined last year while distillates rose a marginal amount.

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About Industrial Info Resources
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 trillion (USD).