Xcel Energy Commits To 85% Reduction In Greenhouse Gases And Double Renewable Energy Generation By 2030

DENVER (CBS4) - Xcel Energy is promising to cut greenhouse gas emissions by 85% from 2005 levels within 10 years. Renewable energy and battery storage will also double by that time.

The energy magnate announced the move on Wednesday. Customers can expect to see 80% of their electricity come from renewable sources. Xcel will reduce coal plant operations by 2030, repurpose all their remaining coal plants by 2040. It's all part of their vision to be carbon-free by 2050.

No layoffs are planned at any plant. Company leaders say they will manage the transition through attrition, planned retirements, and retraining of employees.

There is, however, a price tag.

Customers can expect a price hike, though Xcel says those rises will be at or below inflation levels.