The agreement allows Xcel Energy to unlock tax credit savings from the Inflation Reduction Act for renewable generation and energy storage. (Image Credit/Source: Pixabay/Pexels)
US-based Xcel Energy has announced an agreement with key stakeholders to advance its Upper Midwest Energy Plan, aiming for over 80% carbon emissions reduction by 2030. According to the company, the plan involves significant investments in battery storage, wind, solar, and a natural gas plant, while extending the life of its two nuclear plants. The agreement, supported by tax credit savings from the Inflation Reduction Act, is expected to keep customer costs low. Xcel Energy plans to add 3,200 MW of wind and 400 MW of solar energy, alongside 600 MW of battery storage by 2030. A final decision is expected in 2025, following public input via the Minnesota Public Utilities Commission.
The dual-use project integrates agriculture under solar panels and floating aquaculture with energy storage. (Image Source: PRNewswire)
The Horsham project combines solar and battery storage, supporting grid stability and peak demand management. (Image Credit/Source: Atimedia/Pixabay)
The 20 MW solar project actively supports Eramet’s SBTi roadmap and climate goals. (Image Source: SolarPanal/Pixabay)
Sherco Solar is the Upper Midwest’s largest solar project, set to power 150,000 homes when fully operational. (Image Source: Xcel Energy)