December 5 (Renewables Now) - US utility Xcel Energy (NYSE:XEL) on Tuesday announced a commitment to supply 100% carbon-free electricity by 2050 as part of its new clean energy vision.
The Minneapolis-based company said its strategy envisages an 80% reduction of carbon dioxide (CO2) emissions by 2030 from 2005 levels across the eight Western and Midwestern states it is servicing. In the long term, the utility will strive to achieve entirely carbon-free generation by 2050.
“We’re accelerating our carbon reduction goals because we’re encouraged by advances in technology, motivated by customers who are asking for it and committed to working with partners to make it happen,” said chairman, president and CEO Ben Fowke.
Xcel Energy has already managed to cut its carbon footprint 35% below 2005 levels as part of its previous goal for reducing CO2 emissions 60% by 2030. Now, it intends to bet on renewable energy and currently available technologies to accomplish the new 2030 objective affordably. However, it said the long-term vision will require the use of other technologies that are not cost effective or commercially available today, which in turn will entail its participation in the development of suitable advanced technologies.