Having already cut carbon emissions by 35%, Xcel Energy says it is on track to reach or exceed its ambitious goal of reducing carbon emissions 60% by 2030 from 2005 levels.
Based in Minneapolis, Xcel Energy powers homes and businesses across eight Western and Midwestern states. According to the company’s recently released corporate responsibility report, it surpassed the U.S.’ commitment under the Paris Climate Accord in 2016, which called for a 26% to 28% reduction in carbon emissions by 2025. The utility is now working to achieve a 50% reduction in carbon emissions by 2022 from 2005 levels.
According to the company, the transition to cleaner energy involves retiring aging coal plants and replacing their energy with a combination of wind and solar power and using natural gas as backup.
Notably, much of the energy will come from wind power, as Xcel Energy will more than double its wind generation with 12 new wind farms in seven states. According to Xcel, these new energy sources are complemented by two key sources: the company’s array of customer energy efficiency programs and the continued efficient operation of its carbon-free nuclear plants in the Upper Midwest.
The report notes that in 2017, 40% carbon-free electricity was provided to customers in 2017, with about half generated by wind energy. Moreover, the company is retiring 20 coal units from 2005 to 2026, representing 40% of its coal-powered capacity.
“We’re on a path to provide a more sustainable, prosperous energy future and believe reducing carbon emissions while enhancing affordability is a tremendous benefit for the customers and communities we serve,” states Ben Fowke, chairman, president and CEO of Xcel Energy.
