Big Midwestern Utility Bets on Renewables—Cleaner and Cheaper
Despite recent policy decisions by the Trump Administration to phase out subsidies for clean power and to impose high tariffs on imported solar panels, Xcel Energy is betting on new—and big—power plants that use wind and solar for their energy sources. Xcel, Colorado’s largest utility, has millions of customers across eight Midwestern states, from Texas to Michigan, so any decision it makes will have a big impact on future energy strategy. Turns out it’s a bottom line decision: “the company expects to save tens of millions of dollars” in replacing two large coal-burning units with renewable energy, reports the NY Times. Projections are that Xcel will source over half its electricity from renewable sources by 2020, making it one of the cleanest large utility companies in the country. That’s a bet on future profits that doesn’t seem to be a gamble.
John Howell, Editorial Director
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