ERCOT, the non-federal entity controlling the power grid in Texas, confirmed publicly yesterday the primary cause is related to natural-gas and oil equipment freezing. There is no over-surplus of wind turbines in Texas, but there is massive underfunding/deregulation at ERCOT.

Summary: A mix of over-subsidized wind energy and under-investment in gas power means we didn’t have enough base load energy for a massive spike in demand. Also, Texas infrastructure isn’t designed for once-in-a-century freezes.