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Abstract

In 2015 the Paris Agreement established the goals of limiting global average warming to well below 2°C and pursuing efforts to limit warming to below 1.5°C. A large and growing number of scenarios have been developed by the climate research community that explore global energy and emissions pathways that would achieve those goals. We draw on the most recent database of such scenarios to update a previous analysis of Xcel Energy’s emissions reduction goals in light of evolving climate science. We assess the outlook for the role of the US electricity sector in current economy-wide and global emissions pathways and compare it to Xcel Energy’s near-term resource plans to 2030. We find that global scenarios that achieve the 1.5°C goal span a range of US/North America electricity sector emissions reductions by 2030 of about 65-85%. Xcel Energy’s emissions reductions to date have exceeded those of the US electricity sector as a whole, and its projected trajectory to 2030 under current approved resource plans falls within this range. Scenarios achieving the 2°C goal have a wider range of reductions (about 40-85%). In scenarios achieving either goal, electricity sector emissions fall faster than economy-wide emissions, a robust feature of mitigation scenarios, which typically rely on low carbon electricity to achieve climate targets.