Energy Efficiency, GHG Emissions, Sourcing Renewables - December 4, 2018
Xcel Energy targets zero-carbon electricity by 2050
Xcel Energy announced it will deliver 100% carbon-free electricity to customers by 2050. The Minneapolis-based energy provider also plans to reduce carbon emissions in the eight states it serves by 80% by 2030 from 2005 levels in the eight states it serves.
“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,” said Ben Fowke, chairman, president and CEO, Xcel Energy, in a statement.
Xcel Energy has already reduced carbon emissions by 35% since 2005, on its way to a previously announced goal of 60% by 2030. The company believes that this goal can be achieved affordably with renewable energy and other technologies currently available. The statement added, “However, achieving the long-term vision of zero-carbon electricity requires technologies that are not cost effective or commercially available today. That is why Xcel Energy is committed to ongoing work to develop advanced technologies while putting the necessary policies in place to achieve this transition.”
“Xcel Energy’s ground-breaking climate commitment is an act of true leadership. It is anchored in proven clean energy solutions that are already delivering healthier air, low-cost electricity, major economic investments and jobs to local communities,” said Fred Krupp, president of Environmental Defense Fund. “Ambitious efforts to slash carbon dioxide pollution are urgently needed. Xcel Energy’s vision will help speed the day when the United States eliminates all such pollution from its power sector, which is necessary to seize the environmental and economic opportunity of powering cars, trucks, homes, and businesses with cost-effective, zero-emitting electricity.”
“Our goals are ambitious and achieving them requires a long runway. We’re starting the conversation today to make sure we can achieve this groundbreaking transition while continuing to keep energy affordable and reliable for customers,” said Fowke.