(OILPRICE) — On March 18 the city of Georgetown, Texas announced that it would soon be generating 100 percent of its electricity from renewable sources.
Georgetown agreed to purchase the power from a 150-megawatt solar farm that is to be constructed by SunEdison and online in 2016. Coupled with a 2014 agreement to buy wind power, Georgetown will be able to generate all of its electricity needs without any help from coal, oil, natural gas, or nuclear power.
Texas, the largest oil producer in the United States, is not normally known for its green tendencies. But Georgetown will be the first of many cities in Texas and around the country that will increasingly turn to renewables for electricity. And that has less to do with environmentalism than it does with dollars and cents. Solar has seen its panel prices fall by more than 63 percent since 2010, with wind posting similar cost declines. As a result renewables are the fastest growing form of electricity.
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