Xcel Plans to Expand its Renewable Energy Portfolio

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Globally, stringent regulations pertaining to environment conservation are compelling players in the energy sector to shift towards cleaner and renewable energy sources. Recently, Xcel Energy released its Corporate Responsibility Report, which highlights the results that the company has achieved by banking on cleaner energy sources. The company demonstrated its environmental leadership in 2016 by cutting down carbon emissions by 30% and enhancing its renewable energy portfolio. The report also sheds light on the benefits the company offers to the communities it serves, including economic development, industry-leading energy saving programs, and energy assistance support.

Xcel Energy Aims to Reduce Carbon Emission by 45% by 2021

As recorded in 2016, Xcel Energy has been able to reduce carbon emissions by 30% since 2005. It has reached this milestone four years earlier than expected and is now working towards achieving a minimum of 45% reduction in carbon emissions by 2021. Besides carbon, the organization also focused on cutting down hazardous emissions, such as nitrogen oxide, by nearly 70% and reducing water consumption by 35% at its plants. Renewable energy accounted for one-fourth of the company’s electricity supply last year. As Xcel Energy strives to become the U.S.’ largest multi-state investment in wind energy, the firm is planning to install new wind plants in seven states, taking the energy generated through renewable energy to more than 40% by 2021.

The outcome was possible due to a number of steps taken by the company, including adding ample amounts of low-cost solar and wind energy, shutting down aging coal facilities, and repowering some units with cleaner natural gas.

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