Xcel Energy says that it reduced carbon emissions 38% from 2005 levels – well ahead of industry reductions – as it aims by 2050 to deliver 100% carbon-free electricity. While “Destination 2050” is the company’s vision, Xcel is currently on pace to reach its interim goal to cut carbon 80% by 2030, as it maintains reliable and affordable energy for customers, a key component of the goal.
Xcel plan to end all coal use in the Upper Midwest in 2030 and expand its use of wind energy. Watch a video here about the utility’s Destination 2050 goals.
“Our customers and communities are at the center of all we do, especially our industry-leading plans to deliver carbon-free electricity by 2050,” said Ben Fowke, chairman, president and CEO of Xcel Energy. “We’re realizing significant progress in the clean energy transition and empowering those who want to save energy and purchase 100% renewable electricity. All of our customers benefit from our strategies that both dramatically reduce carbon emissions and lower energy bills.”
Xcel Energy’s clean energy leadership includes a groundbreaking proposal to end all coal use in the Upper Midwest in 2030, to have renewable sources power more than half its grid in Colorado by 2026 and vastly expand the use of wind energy in Texas and New Mexico. It expects to achieve its 2030 goal using existing technologies and is advocating for research and development to advance 24/7 carbon-free technologies that are required to reach Destination 2050 while protecting customer reliability and affordability.
The utility recently unveiled its annual Corporate Responsibility Report that shows how the company is meeting its environmental, economic, and community commitments.
Other highlights detailed in the report include:
- Beyond carbon reduction: By delivering cleaner energy, the company is reducing other environmental impacts. It reduced water consumption 20% from all electricity generation and air emissions of sulfur dioxide and nitrogen oxide at least 77%.
- Record renewable generation: In both Colorado and the Upper Midwest, there were hours where renewables delivered over 70% of Xcel Energy customers’ electricity and days where customers received more than 60% renewable energy.
- Community commitment: Investment of $63.1 million in 2018, which includes support for energy assistance, volunteer programs and grants through the Xcel Energy Foundation. These grants support nonprofit organizations focused on STEM education, environmental stewardship, arts and culture and economic sustainability. For communities where the company is closing coal plants, it is partnering on economic development opportunities to successfully make this transition.
- Workforce for the future: To build the energy future, Xcel Energy is working to attract, retain and develop the highest quality talent through its workforce programs. In 2018, 56% of newly hired employees were local, 24% had ethnically diverse backgrounds, and 10% were veterans. The company has also reduced workplace injuries 55% since 2009.
- Strong corporate governance: The Xcel Energy’s Board of Directors has an independent lead director with 12 of 13 independent board members, including five that self-identify as female and/or minority to provide the diverse perspectives and experience the company needs to be successful.
Xcel Energy’s annual Corporate Responsibility Report tracks non-financial performance and includes information related to environmental impact, safety, economic development, community giving and workplace programs.
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