We’re fortunate to operate in parts of the country rich in wind and are putting this resource to work for customers. As a national leader in wind power since 2005, more than 20% of our electricity company-wide comes from wind energy.
As turbine technology improves, the cost of wind power has significantly declined making it extremely competitive with other energy resources. Given low prices and available tax credits, now is an excellent time to invest in wind energy to benefit our customers, providing them with affordable clean energy for years to come.
We plan to increase our wind portfolio 70% by the end of 2021. With new projects spanning seven states, we are adding more than 4,800 megawatts of wind capacity to our system enough to power about 2.3 million homes per year.
While we purchase most of our wind power from other suppliers under long-term contracts. This is changing as we plan to own and operate more Xcel Energy wind farms.
Wind power is clean, renewable energy. It requires no fuel or water, and in 2019, helped to avoid approximately 12.8 million tons of carbon dioxide, and other emissions on our system. For customers who want more, we offer Windsource®, one of the largest voluntary green energy programs in the country. Windsource gives customers the option to purchase up to 100 percent renewable energy in most of the states we serve.
With more wind resources on our system, we continue to improve our operations and show that wind can contribute to a reliable power system. For example, we helped develop some of the most advanced wind forecasting tools available. Because we can use these tools to better predict wind generation, we can power down fossil fuel plants on windy days, saving millions of dollars in fuel costs.
Have questions about wind energy? Check out our Q&A.
Today's wind turbines are larger, quieter and more efficient. Learn more.
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