[September 23, 2024] Xcel Energy Drives Forward Clean Energy Goals Tweet Xcel Energy continues to forge ahead in its goals to reduce emissions, embrace clean energy and fuel electric vehicles as the nation celebrates major advances in sustainability through several events taking place late this month. During Climate Week NYC (Sept. 22-29), which promotes climate action, the company celebrates the changes already underway. Xcel Energy has reduced carbon emissions 54% from the electricity it provides to customers from 2005 levels, with a goal to reach 100% carbon-free electricity across its service areas by 2050. With events kicking off during Clean Energy Week (Sept. 23-27) to celebrate clean energy innovation and discuss pressing challenges in energy technologies, Xcel Energy is operating on an energy mix that is more than 50% carbon-free, compared to an average of 41% nationwide. And with Drive Electric Week around the corner (Sept. 27 to Oct. 6), the company is powering EVs with energy that is 65% lower in carbon emissions than a conventional gasoline-powered vehicle – and far more cost effective at about $1/gallon-equivalent. “As we observe the significant environmental events taking place this month, we celebrate these robust sustainability accomplishments and know we have more to achieve,” said Bob Frenzel, chairman, president and CEO of Xcel Energy. “Xcel Energy was the first U.S. energy provider to set aggressive goals to reduce carbon emissions from electricity, heating and transportation. As we plan for the energy needs of the future, we will ensure our customers continue to receive affordable and reliable service.” Transitioning to cleaner energy Xcel Energy is committed to becoming a net-zero energy provider by 2050 while keeping its service reliable, affordable and safe. ?The company uses climate science to inform its clean energy strategy and has contracted with climate modeling experts to understand how its clean energy vision relates to global temperature goals. The company had reduced 46.3 million short tons of carbon dioxide equivalent (CO2e) by 2023, compared to 2005 levels – roughly the same emissions released from driving 11 million gas-powered vehicles for a year, according to estimates from the U.S. Environmental Protection Agency’s Greenhouse Gas Equivalencies Calculator.

These reductions were achieved through a combination of technological advancements, regulatory compliance, and operational efficiency improvements. The company’s commitment to environmental sustainability is reflected in its investment in renewable energy sources. It has invested heavily in solar and wind power projects, aiming to reduce its reliance on fossil fuels and transition towards a cleaner energy future. The company’s environmental performance is further enhanced by its focus on waste management and resource conservation.

The company’s energy mix is evolving towards a more sustainable future.

This signifies a significant shift towards cleaner energy sources, demonstrating the company’s commitment to sustainability and environmental responsibility. The company’s energy mix is further diversified by the inclusion of 30% from biomass, 10% from hydropower, and 10% from natural gas. This diverse mix provides a stable and reliable energy supply, mitigating the risks associated with reliance on a single source.

This commitment to clean energy is reflected in the company’s investment in research and development, as well as its partnerships with leading universities and research institutions. These investments are crucial for driving innovation and ensuring the future of clean energy. The company’s focus on clean energy extends beyond its own operations. It actively engages in initiatives to promote clean energy adoption among its customers and the wider community.

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* Xcel Energy, a major utility company, is actively promoting the adoption of electric vehicles (EVs) in its service area. * Xcel Energy’s transportation programs in four states aim to address common barriers to EV adoption. * Xcel Energy’s EVs are powered by electricity generated from renewable sources.

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