Earlier quoted context omitted.
So this is where the right leaning (and quite reasonable, in the long term) observation should be: there's a business opportunity to build and deploy storage capacity with grid stabilization the top feature. That takes vision (which isn't always there), but also time. Perhaps also recognition in the regulatory ecosystem that this is needed, so that the business case (ie, build it and they will pay for it) is there.
One would think, but Biden is looking at imposing a 30% excise tax on crypto miners. This is directly targeted at Texas, to slow further development and growth in that state. Crypto has been one of the largest drivers for renewable energy in Texas, and now they want to put a dagger in it. Investors are watching closely at putting any money into the grid because of the Biden administration. If that tax goes into effec…
It's not about targeting Texas.
It's because the economic value returned to society (in GDP, jobs, etc) from the energy consumed by crypto is less than for energy consuming activities like manufacturing, especially considering the environmental cost of generating that power (which won't all be renewable for a while).
This electricity-hungry onshore manufacturing boom is being boosted by legislation like Biden's CHIPS act, which is a big thing in Texas, and is being heavily promoted by Texas's governor:
https://gov.texas.gov/uploads/files/business/Texas_CHIPS_Act...