Xcel Energy cuts carbon emissions by 12 percent in 2020

Minneapolis-based Xcel Energy cut carbon emissions by approximately 6 million tons, or 12 percent, in 2020, making it the largest single-year drop in emissions in the company’s history.

Since 2005, the company has reduced carbon emissions by 51 percent. Xcel has outpaced the broader industry, which has reduced carbon emissions by about 40 percent from 2005 levels, according to data from the U.S. Energy Information Administration.

“We’re making tremendous progress towards delivering on our clean energy goals,” Ben Fowke, chairman and CEO of Xcel Energy, said. “Even after factoring in the effect of the global pandemic on our operations, we are well on our way to achieving our goal of reducing carbon emissions 80% by 2030 and are more than halfway to delivering 100 percent carbon-free electricity to our customers, all while keeping their service reliable and energy bills low.”

The carbon reduction came from several initiatives, including an increase in wind power. Xcel Energy added more than 800 megawatts of new wind projects in 2019 and another 2,200 megawatts of new wind projects in 2020. By the end of 2021, Xcel estimates that approximately 35 percent of its energy will be from wind. Through its wind expansion, Xcel has delivered approximately $430 million in fuel savings to its customers from 2017 to 2020.

The pandemic also played a role, reducing the company’s electricity sales by about 3 percent.