Xcel Energy started the new year off by unveiling an ambitious energy efficiency plan that could save the same amount of energy that a new coal-fired plant would produce. According to MSNBC, in 2009 Xcel plans to invest $63 million in programs aimed at promoting energy efficiency. The company plans to continue the effort by spending $80 million on the programs in 2010.
According to Xcel Energy spokesman Mark Stutz, the investment should result … Read the rest
Xcel Energy posted its 3rd quarter results today. Although revenue rose to $2.85 billion from $2.4 billion, their 3rd quarter earnings fell 13% to $223 million dollars, or 51 cents a share. That’s a 13% drop from what the company was reporting at this time last year. Analysts had expected Xcel to post earnings of 61 cents a share, so the report was below expectations.
The company stated that its results had been impacted … Read the rest
Xcel Energy has selected Hoku Solar to install a photovoltaic (PV) solar power system on Xcel’s headquarters in Oahu, Hawaii. Once the installation is completed, the 34 kilowatt PV system will generate 53,500 KW hours of energy each year. Over its lifetime, the system is expected to offset more than 885 tons of CO2 emissions.
Ed D’Ascoli, founder and president of Xcel, commented on the project and the choice of Hoku Solar, saying
… Read the rest"Xcel is
Xcel Energy announced that it is setting up a new biomass-fueled power plant in Ashland, Wisconsin. Rather than build from scratch, the company will convert an existing in plant in that location to run completely off of biomass. Once the project is complete, the plant will be the largest of its type in the Midwest, using wood waste to produce enough electricity to power 40,000 homes. Xcel is planning to spend $55 million to $70 … Read the rest
The Rocky Mountain News reports that Xcel Energy Inc has voluntarily offered to shut down two coal-fired power plants to reduce emissions. The company’s plans have been approved by state regulators, and the plants will close in 2010 and 2012. Xcel will build a 200-megawatt solar energy facility and add 850 megawatts of wind energy in order to replace the older coal-fired plants. Several solar companies have expressed interest in bidding on the solar plant, … Read the rest