Xcel Energy estimates that it has reduced carbon emissions 50% below 2005 levels in 2020, and is on track to meet its 2030 target of reducing carbon emissions 80% in the next decade, based on its upcoming integrated resource plans (IRPs). To learn more, read “Xcel cuts carbon emissions 50% by 2021, eyes Colorado transmission, coal plants to reach 2030 goal.”
- Xcel completed six wind projects in 2020, representing nearly 1,500 MW of capacity. Another 800 MW of wind projects are under construction and expected to become operational in 2021.
- Xcel plans to file solar plans with Minnesota regulators later this year, which would have the utility develop 460 MW of solar near its Sherco coal plant – retiring in 2030 – to take advantage of existing transmission near the plant.
- Although specifics are not available regarding Xcel’s upcoming Colorado IRP, the plan will include transmission expansion to bring additional load from remote-located renewables into the Denver area.
- Xcel will also propose a plan for its remaining Colorado coal plants, as well as adding more renewables, to put the utility on track to reduce its carbon footprint 80% by 2030.
- Xcel plans to exit coal entirely in Minnesota by 2030.
- Xcel executives will continue to be bullish on electric vehicle infrastructure build outs, investing $500 million in charging stations and distribution system infrastructure over the next five years, and closer to $1.5 – 2 billion over the next decade.
Path to 100% Perspective:
Xcel is paving the path to 100% for those in the energy sector, setting and meeting ambitious carbon reduction goals and building out its renewable energy capacity. Leveraging existing infrastructure while making key investments in solar and wind will help ease the transition to 100% carbon-free energy and serve as an example to others looking to do the same.
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