Expert: Solar energy is a necessary solution to summer power grid insecurity in Texas

guest column

It's only going to get hotter in Houston — can the grid take it? Switching to solar is a way to avoid having to worry about that question, says this expert. Photo courtesy of Freedom Solar

You know the old adage: "If you don't like the weather here, wait five minutes." Texas weather is not just unpredictable; it can be downright bipolar. I don't need to remind you of the knockout punch Old Man Winter delivered last February, even to parts of the state where hard freezes are few and a "snow event" usually amounts to a dusting. It will be a long time before Texans forget spending a week without power in single-digit temperatures — huddled together in their homes under mountains of blankets — with no heat, no way to bathe or cook, and no escape.

The massive power outages of Valentine's Day week spurred public outrage and a full-throated demand that state leaders take decisive steps to make Texas' electric grid sustainable. The legislature was only a month into its 140-day regular session at the time, but still failed to do anything substantial to fix the grid before adjourning May 31.

Now — well ahead of the hottest days of summer — Texans are wondering why the Electric Reliability Council of Texas (ERCOT) is already asking them to set their thermostats at 78 degrees, turn off lights, avoid using their ovens or doing laundry in the evenings, and otherwise conserve energy. It was ERCOT's second such call since April. Some local energy companies have recommended setting thermostats even higher, and local rolling blackouts have continued in Dallas, Houston, and elsewhere in the state throughout the months of June and July. That may be fine for some people during Texas' scorching summer heat, but for others, it is untenable. For the elderly or infirmed, it could be deadly.

Experts have warned the grid is unreliable, the system is strained, and homeowners and businesses hover at near-constant risk for blackouts, unless the state does more to weatherize the grid, bring more generators back online, and provide more emergency backup power. Meanwhile, when temperatures hit triple digits and stay there for days, the blackout risks will skyrocket.

But there is one obvious solution to grid instability that will enable Texans to keep their homes and businesses comfortably cool during the hot summer months ahead, without setting their thermostats higher or timing their activities to government guidelines. Widespread distributed generation of solar energy, instead of the current emphasis on remotely located utility-scale solar, would provide a highly effective, long-term solution to decreasing strain on the ERCOT power grid.

That means dramatically increasing the number of solar installations on residential and commercial properties statewide. Consider the distance and infrastructure required to bring power from a West Texas solar farm to the state's big cities. That's not only a costly undertaking, it exposes the system to many vulnerabilities along the way. It makes more sense to install solar panels on-site, behind the meter, and pair them with storage for backup power.

The logic is simple: Increasing the number of homes and businesses with on-site solar power would decrease the burden on the grid and help insulate it against failure. Further, by installing home batteries such as the Tesla Powerwall for backup power, residents can control their own power supply and ensure its reliability, even during extreme weather events—summer or winter.

These technologies are cost-efficient and readily available today. A few months ago, Congress extended the 26 percent federal solar investment tax credit (ITC) — which also applies to batteries paired with solar — through 2021 (dropping to 22 percent in 2022), making the move to solar and backup power even more sensible.

State leaders have tried to lay the blame for last winter's power outages on renewable energy. But failures of natural gas power plants, not renewable generators, caused the grid failures that led to those deadly blackouts.

On July 6, months after declaring "everything that needed to be done was done to fix the power grid in Texas," Governor Abbott ordered the PUC to take steps to overhaul the state's electric system. But the solutions he's offering—like constructing new coal, gas, and nuclear power plants and building their transmission lines faster—are giveaways to the fossil fuel industry and will take a long time to complete. Texas needs reliable power NOW.

Meanwhile, state officials are increasingly emphasizing conserving power during extreme temperatures, which suggests they don't even believe their assurances that no more blackouts lie ahead. On-site solar power is the obvious solution, both today and for the long-term health of our rapidly growing state and rapidly warming planet.

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Bret Biggart is CEO of Austin-based Freedom Solar, the leading turnkey solar energy installer in Texas, providing high-quality, cost-effective, reliable solar solutions for the residential and commercial markets.

In light of the devastation caused by the recent winter storm that hit Texas, it's time for the state to invest in solar, says this expert. Photo courtesy of Freedom Solar

Expert: Texas must grow its solar infrastructure to prevent more weather-related power outages

guest column

As Texans begin to recover from last month's once-in-a-century winter storm, many wonder how the state — an icon of the oil and gas industry and home to Houston, "the energy capital of the world" — was thrust into darkness for days on end.

When the Texas power grid began failing in communities statewide, many in positions of power quickly laid the blame at the feet of the renewables industry. But with solar and wind power accounting for only 28.6 percent of the state's energy supply, clearly, renewables were not the sole, or even primary, culprits responsible for the massive outages. The facts point to a much more complex set of circumstances — a series of extreme weather events, one after the other; a burgeoning population; and a grossly unprepared system — all of which combined to cause an increasingly strained, aging grid to fail spectacularly.

The events of last month were a not-so-subtle demonstration of the inadequacy of our current power structure, but what does that mean for the future of Texas energy? Obviously, Texas leaders and the Electric Reliability Council of Texas (ERCOT) must begin updating the state's grid with the resources necessary to sustain the rapidly increasing demand for reliable power. Undoubtedly, that will cause a hike in consumer energy costs, especially in deregulated markets like Houston, where profitability and demand drive prices.

Widespread distributed generation of solar energy—rather than the state's current emphasis on utility-scale solar generation — would provide a highly effective, long-term solution to minimizing strain on Texas' power grid. This means dramatically increasing the number of local solar installations on residential and commercial properties statewide. Think about it: The distance and infrastructure required to bring power from West Texas solar farms to the state's urban centers leaves too much room for vulnerabilities. Solar makes more sense on-site, behind the meter, and paired with storage for backup power.

Simply stated, the more businesses and residences who have solar power, the less burden on the grid and the more insulated the grid is against failure. Further, by installing batteries such as the Tesla Powerwall for backup power, solar customers control their own power supply and ensure its reliability, even during extreme weather events like the one we just experienced. These batteries are mass market-ready, reliable and cost-efficient today.

With the increasing volatility of the Texas energy market, home and business owners are finding solar is a more appealing investment than ever before.

The amount of solar power required to power a home or business depends on the amount of energy the owner seeks to offset. For example, a solar array geared toward reducing an energy bill will be significantly smaller than a system designed to take the customer off the grid entirely. Backup power solutions are similarly dependent, with options ranging from a single battery capable of powering small household appliances to a bank of several batteries or a generator able to power a whole household or commercial space. Either way, the combination of solar power and backup provides reliability many Texans wished they had during the record freeze we just endured.

The public outcry over the massive power outages has laid a mandate at the feet of state leaders: Do what is necessary to make the power grid sustainable. At the same time, utilities statewide are looking at what they can do to increase reliability in their own communities. Deregulated energy prices will only rise because of continuing population growth and the need to update grid infrastructure.

No matter how you look at it, enlarging the state's independent solar infrastructure is a reliable way to protect businesses and homeowners alike against surging energy costs and weather-related power outages.

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Bret Biggart is the CEO of Texas-based Freedom Solar.

With stay-at-home mandates across the state, renewable energy helps reduce the strain of the grid. Photo courtesy of Freedom Solar

Now is the time for Houstonians to invest in solar energy, says expert

Guest column

Largely due to the growing popularity and falling prices of solar energy in Texas, including incentives at the federal, state, and local level, the number of solar panel installations continues to trend upward throughout the state and especially in Houston.

For the third year in a row, Houston was named the top municipal user of green energy in the nation by the United States EPA, using more than 1 billion kilowatt hours (kWh) of solar and wind power. With 92 percent of the city of Houston's energy coming from green power, solar has solidified its place in the Houston energy market.

With solar panel system prices dropping 38 percent over the past five years, solar power is also growing in popularity among individual homeowners and business owners who want to take control of their energy costs and become more self-sufficient.

As the recent COVID-19 pandemic continues to shake industries across the nation, Freedom Solar is working tirelessly to keep our team safe, healthy, and employed. Solar installers provide critical electric generation infrastructure that helps us reduce the strain on the ERCOT grid, especially with higher electricity usage as people stay at home under local shelter in place orders and as we head into the warmer spring and summer months.

The health and safety of our customers and employees is our top priority, and as an essential business we are following strict operating protocols that are in line with the guidance provided by local, state, and federal authorities. Although these challenging times often result in a pause in investments, I argue that for customers who have been considering investing in solar, now is still the time to do so.

During these tumultuous times, for many home and business owners, investing in solar energy remains appealing as a smart and stable financial decision. A solar power system is an income-producing asset that will generate a stable return for 25 or more years. The ability to finance that investment without putting cash down upfront allows customers to get the financial benefits of solar now while keeping their money in the securities markets until they recover from the current economic downturn.

Due to the COVID-19 pandemic, overseas manufacturing has been disrupted for months, resulting in shortages in the global supply chain across many industries. These shortages could increase the price of solar panels, inverters and related equipment if US warehouses run low on inventory. For customers who have long been on the fence about investing in solar, I would urge them to reevaluate the numbers now in anticipation of potential price increases in the coming months in the wake of COVID-19.

Additional macro trends and current events continue to demonstrate the value of home solar power. According to a 2020 study by the financial institution Fundera, the number of regular telecommuting employees has grown by 115% since 2005. As more and more people are required to work remotely, especially during the current and indefinite "Stay in Place" orders, electricity usage and utilities have inevitably increased for many households.

Investing in solar for your home can help offset increased utility costs, especially while working remotely and in the rapidly approaching summer months. Current events may be accelerating the long-term trend, and even when the immediate crisis is over, the way many people work could be transformed.

As the energy industry continues to evolve, the reasons why Houston customers choose to invest in solar power evolve and grow. Going solar is no longer solely a testament to your sustainability practices but also a sound long-term investment. The federal solar tax credit — also known as the investment tax credit (ITC) — allows homeowners and businesses to deduct a significant percentage of the cost of installing solar from their federal income taxes.

The credit remains at 26 percent for the remainder of 2020 but will decrease to 22 percent in 2021 and then in 2022 will drop to 10 percent for businesses and will go away entirely for homeowners. With more than 90 percent of Houston's energy consumption deriving from green power, it is clear that solar is here to stay.

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Bret Biggart is the CEO of Texas-based Freedom Solar.

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Houston brain health co. secures $6.5M for rare disease study

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Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Editor's note: This article has been updated to correct the number of companies based in the Dallas-Fort Worth area.

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 24 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.

Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

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