MINNEAPOLIS, Minn. (WJMN) — Xcel Energy announced Thursday new plans that could cut carbon emissions by 80% within the decade. The power company serves parts of the Upper Peninsula, Minnesota, South Dakota and North Dakota.
“This new proposal builds on our already-approved plans to retire all coal plants by 2030 and replace them with nation-leading amounts of renewable energy like wind and solar, as we transition to a clean, secure energy future,” said Ryan Long, president of Xcel Energy in a release.
The plan entails extending the use of the company’s two nuclear plants, expanding its wind and solar efforts as well as investing in battery energy storage systems. The company states customer costs will be kept down with the aid of an estimated $5.7 billion in estimated tax savings.
The Upper Midwest division leads the company in carbon-free energy production according to a 2022 report on their website, showing 69% of electricity generated or purchased coming from nuclear, wind, or solar sources.