Xcel Energy highlights clean energy progress

Minneapolis-based Xcel Energy released its 17th annual Sustainability Report Wednesday, highlighting the company’s commitment to reliable, affordable natural gas and electricity service while protecting the environment.

The company said it has led the clean energy transition since 2005 and was the first energy provider in the country to set aggressive goals across electricity, heating, and transportation. Together, the three components represent a vision positioning Xcel Energy to be a net-zero energy provider by 2050.

“While we’re focused on meeting our customers’ needs today, our eyes are also on the future—on what value we can deliver in the next one to two decades,” said Bob Frenzel, chairman, president and chief executive officer of Xcel Energy. “We’re committed to continuing our clean energy leadership, meeting our 2030 clean energy goals, and addressing other pressing issues that affect our company and the communities we serve.”

The company said in the report that it was the first major U.S. power provider to announce a vision of 100 percent carbon-free electricity by 2050. In 2021, its electricity was 50 percent cleaner compared to 2005, putting the company on track for its interim goal of an 80 percent reduction in carbon emissions by 2030. The company also said it announced in November that it would reduce greenhouse gas emissions from the supply, delivery and customer heating, and industrial use of natural gas by 25 percent by 2030, with a long-term goal of net zero by 2050.

The company also said it plans to power 1.5 million electric vehicles (EVs) by the end of this decade and to encourage EV adoption. Through its clean energy transition, the company said it is creating other environmental benefits, like reducing water use and lowering air emissions.