Xcel Energy Announces Ambitious Plan to Eliminate Carbon Emissions by 2050

The Utility Will Reduce Carbon Emissions 80 Percent by 2030

Denver, CO -- This afternoon, Xcel Energy announced its commitment to reducing carbon emissions by 80 percent by 2030 and 100 percent by 2050. This is the first major interstate utility in the U.S. to commit to eliminating carbon emissions. Xcel’s move to a zero-emissions grid exceeds the emissions reductions set by the Obama Administration's Clean Power Plan, which the Trump Administration rejected in a futile effort to boost the coal industry and undermine clean energy’s progress.

In Colorado, Xcel Energy has already proven it can sharply cut carbon emissions and save customers money by shifting directly from dirty coal to clean energy resources like solar and wind. In August, Xcel earned approval from the Colorado’s Public Utilities Commission to replace two units at the state’s largest coal plant with a combination of wind, solar, and battery storage after finding it could save customers more than $200 million. That plan alone will help Xcel cut its carbon emissions in Colorado in half by 2026, from a 2005 baseline.

While Xcel’s work to advance clean energy in the West is worth celebrating, the utility continues to invest in a fossil fuel expansion in the upper Midwest, with recently-announced plans to add gas. It is critical that this commitment to zero-emissions ramp up investments in solar, wind, battery storage, and energy efficiency across its service territory.

Xcel serves customers in Colorado, New Mexico, Minnesota, Michigan, North Dakota, South Dakota, Wisconsin and Texas.

In response, Mary Anne Hitt, Senior Director of the Sierra Club’s Beyond Coal campaign, issued the following statement:

“Cutting climate pollution is more critical than ever, and progress in cleaning up our power grid is accelerating now that clean energy is becoming cheaper than fossil fuels across the nation. Xcel Energy’s announcement is proof that getting serious about cutting pollution and investing in clean energy is smart for business, local economies, and jobs. It also underscores, once again, that Donald Trump can’t stop the transition from dirty coal to clean energy, and his time and our money are better spent ensuring no community is left behind. As Xcel moves forward on its plan for a clean energy future, we’ll be looking closely at what it means for workers, the retirement of its remaining coal plants, commitments to clean energy, and avoiding a dangerous and costly build out of gas plants. Xcel’s announcement is a positive step forward, but we need to make sure it’s both sustainable and fair.”

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