Xcel Energy
Xcel Energy, a leading utility provider in the United States, is headquartered in Minneapolis, Minnesota. Founded in 1909, the company has established itself as a key player in the energy sector, serving millions of customers across eight states, including Colorado, Texas, and Minnesota. Xcel Energy operates primarily in the electric and natural gas industries, focusing on sustainable energy solutions and innovative technologies. The company is renowned for its commitment to renewable energy, boasting one of the largest wind energy portfolios in the nation. Xcel Energy's core services include electricity generation, transmission, and distribution, alongside natural gas services, all designed to meet the evolving needs of its customers. With a strong emphasis on sustainability and customer satisfaction, Xcel Energy has received numerous accolades for its environmental initiatives and reliability, solidifying its position as a trusted energy provider in the market.
DitchCarbon Score
How does Xcel Energy's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Electricity from Other Sources industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Xcel Energy's score of 47 is higher than 91% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Xcel Energy's reported carbon emissions
In 2023, Xcel Energy reported significant carbon emissions, totalling approximately 36,180,000,000 kg CO2e for Scope 1, 310,000,000 kg CO2e for Scope 2, and 23,320,000,000 kg CO2e for Scope 3. This reflects their ongoing commitment to reducing greenhouse gas emissions associated with their operations. Xcel Energy has set ambitious reduction targets, aiming for an 80% reduction in carbon dioxide emissions by 2030, with a long-term goal of achieving net-zero emissions by 2050. These targets encompass emissions from electricity delivery, with specific interim goals for natural gas service, targeting a 25% reduction from 2020 levels by 2030. The company is leveraging current technologies, including wind, solar, nuclear, and battery storage, to meet these goals. Their emissions intensity for owned and purchased generation was reported at 271.0 kg CO2e per MWh in 2024, indicating a focus on improving efficiency and reducing carbon output. Xcel Energy's commitment to sustainability is further underscored by their alignment with science-based scenarios aimed at limiting global warming to 1.5°C, demonstrating a proactive approach to climate change mitigation.
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| 2022 | 2023 | |
|---|---|---|
| Scope 1 | 37,960,000,000 | 00,000,000,000 |
| Scope 2 | 740,000,000 | 000,000,000 |
| Scope 3 | 24,260,000,000 | 00,000,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Xcel Energy is participating in some of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
