Shell to Sell Residential Renewable Energy in Texas

June 10, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--Shell plc (NYSE:SHEL) on Tuesday announced it will begin selling renewable electricity to residential customers in Texas through a new business unit, Shell Energy, as the oil and gas major seeks to enter the U.S. residential power market and reach its net-zero goal by 2050.

Shell Energy also will offer Texans plans for electric vehicle (EV) charging--which will include free charging during off-peak hours and a fixed electricity rate--and a solar buyback plan, so customers can get credit for excess solar power that is exported to the power grid.