Xcel Energy announced its proposal for the one of the largest packages of energy investments in Minnesota’s history, as part of its response to the Minnesota Public Utilities Commission and Department of Commerce request for energy companies to help with job growth and getting the economy on track.
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As part of Xcel Energy’s commitment to helping customers and the state recover from the coronavirus pandemic, the company’s proposal would include almost $3 billion of accelerated and incremental projects that will create jobs, advance the transition to cleaner energy, and keep customer bills stable.
Xcel Energy proposed a slate of projects to the Minnesota Public Utilities Commission that would create an estimated 5,000 jobs in the state, while keeping customer bills stable.
Project highlights include:
- Adding solar near the Sherco plant. Xcel Energy has proposed speeding up the addition of up to 460 megawatts of solar power next to our Sherco coal plant in Becker, Minnesota. Building the solar installation would create 230 to 350 union jobs during construction and generate significant state and local tax benefits as well as landowner lease payments over the life of the project. The solar installation will also generate enough carbon-free energy to power more than 240,000 homes each year while leveraging existing transmission infrastructure.
- Expanding and rebuilding wind farms. Rebuilding aging wind farms with the latest technology and adding additional wind power in the state would create hundreds of construction jobs in greater Minnesota jobs that often spur additional jobs and economic benefits in those communities. Xcel Energy would use union labor and women, veteran, and minority owned businesses for various aspects of the projects.
- Expanding conservation and efficiency programs. We proposed to expand our current energy conservation programs, including direct rebate payments to customers who may be struggling to pay for new equipment, leading to job growth in the trade services while lowering customer bills. We also proposed to spend twice as much as the state requires on assistance programs for low-income customers.
Xcel Energy also proposed other investments in transmission, distribution, natural gas and electric vehicle infrastructure projects, including building electric vehicle charging stations for fleets and the public.
The proposed projects will need approval from the Minnesota Public Utilities Commission. ■