Workers repair a power line in Austin, Texas, U.S., on Wednesday, Feb. 18, 2021.
Thomas Ryan Allison | Bloomberg | Getty Images
A confluence of factors led to Texas’ electric grid failing last week in the wake of a unusual winter storm that paralyzed the state’s infrastructure. Texas is not the only state that’s grappled with a grid that can’t manage, and the state’s struggles could spark a greater buildout of energy infrastructure across the U.S.
Wall Street analysts say there are a number of companies that will likely take part in the energy infrastructure upgrade, which President Joe Biden has said is a priority of his administration. And others will benefit as consumers take their energy needs into their own hands off the grid.
The implications will span sectors, touching on everything from renewables to traditional oil and gas companies to names involved in electric transmission.
Originally published at CNBC