Clean energy is important. It’s good for the environment, the economy, and your electric bill. That is why we are happy to report that Xcel Energy is putting forward a bold vision to deliver 100% carbon-free electricity by 2050. They’re planning to do it using a mix of wind, solar, and other carbon-free resources, serving customers across its eight states.
Times are definitely changing for the utility industry with increased innovation and calls for cleaner fuel sources. And, Xcel Energy is helping Minnesota be a clean energy leader as the first large utility in the country to announce a goal to go completely carbon free.
“This is an extraordinary time to work in the energy industry, as we’re providing customers more low-cost clean energy than we could have imagined a decade ago,” said Ben Fowke, chairman, president and CEO, Xcel Energy. “We’re accelerating our carbon reduction goals because we’re encouraged by advances in technology, motivated by customers who are asking for it and committed to working with partners to make it happen.”
Xcel Energy believes they can reliably and cost-effectively cut carbon emissions 80 percent by 2030 with the renewable and carbon-free generation and energy storage technologies available today. They plan to achieve this by building and buying 12 new wind farms across seven states, expanding solar programs, retiring 22 coal units between 2005 and 2027, and using other carob free-resources including nuclear along with some natural gas generation.
Xcel Energy says achieving its 100% by 2050 goal will also require utilizing technologies not yet commercially available.
Besides helping Minnesotans breathe better, Xcel Energy says reducing carbon emissions will cut customer bills due to lower costs associated with wind production and will also help the economy. Wind farms being built will add jobs and tax revenue to local communities. For instance, the Blazing Star Wind Farm being constructed in Lincoln County is generating 150 construction jobs, 10-full time operations positions and generating $25 million in revenue for local government over 25 years.
Learn more about the industry leading plan at xcelenergy.com.