Xcel Energy Is Number One in Clean Energy

Rhea-AI Summary

Xcel Energy has been recognized as the largest clean energy provider in the U.S. for wind, solar, and battery storage by the American Clean Power Association. The company boasts over 11,205 megawatts of clean power on its system as of the end of 2020, exceeding its nearest competitor by 43 megawatts. Xcel aims to deliver 100% carbon-free electricity by 2050 and targets an 80% reduction in carbon emissions by 2030. The recent completion of a massive wind expansion positions Xcel as a leader in renewable energy solutions.

Positive

• Ranked as the largest clean energy provider in the U.S. by ACP.
• Current capacity of over 11,205 megawatts of wind and solar.
• Targeting 80% carbon emissions reduction by 2030.
• Planning to achieve 100% carbon-free electricity by 2050.

Negative

• None.

Xcel Energy today announced that it is the largest clean energy provider in the country when it comes to wind, solar and battery storage, according to the American Clean Power Association (ACP). In its recently published annual report, the ACP ranks investor-owned utilities, based on the amount of clean power on their systems at the end of 2020, and Xcel Energy came out on top.

“The nation has seen tremendous growth on the wind and solar front, and we’re proud to be leading the charge in providing our customers with clean energy,” said Ben Fowke, CEO and chairman of Xcel Energy. “This is a time of significant change for our company and industry as we embrace renewables and other technologies that provide value to our customers, communities and the environment.”

Xcel Energy is the first major U.S. power provider to announce a vision of delivering 100% carbon-free electricity to its customers by 2050, and it’s more than halfway there. The company has also proposed plans to retire most of its coal generation ahead of schedule, which will help reduce carbon emissions 80% by 2030, one of the most aggressive interim targets in the industry, consistent with the Paris Agreement targets.

At the end of 2020, Xcel Energy had 11,205 megawatts of wind and solar on the system, edging out its peers by 43 megawatts, according to the report.

In 2021, the company surpassed 10,000 megawatts of wind on its system, after wrapping up the largest multi-state wind expansion in the country. By the end of this year, Dakota Range, a large wind farm in South Dakota, is expected to come online.

In addition to reducing carbon emissions 80% by 2030, Xcel Energy expects to serve customers company-wide with electricity that is nearly 80% carbon free, including approximately 65% renewable sources, by the end of the decade.

About Xcel Energy

Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210811005173/en/

FAQ

What rank did Xcel Energy achieve in the clean energy sector?

Xcel Energy was recognized as the largest clean energy provider in the U.S. by the American Clean Power Association.

What is Xcel Energy's target for carbon emissions reduction?

Xcel Energy aims to reduce carbon emissions by 80% by 2030.

How much clean power does Xcel Energy have on its system?

Xcel Energy has over 11,205 megawatts of wind and solar power on its system.

What is Xcel Energy's goal for carbon-free electricity by 2050?

Xcel Energy aims to deliver 100% carbon-free electricity to its customers by 2050.