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Xcel Energy Inc
Xcel Energy's GHG Emissions Data Preview
In 2024, Xcel Energy completed a corporate carbon footprint assessment and publicly disclosed its greenhouse gas (GHG) emissions according to the GHG Protocol, covering Scope 1 (direct emissions from owned or controlled sources), Scope 2 (indirect emissions from purchased energy) and Scope 3 (indirect emissions across the value chain).
Xcel Energy has also provided a category-level breakdown for 4 out of 15 Scope 3 emissions categories, offering greater transparency into its value chain emissions.
| Metric (tCO2e) | 2024 | 2023 | 2022 | 2021 - 2017 |
|---|---|---|---|---|
Total Scope 1 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
Total Scope 2 | ||||
Market-Based | Copy restricted. Please purchase to unlock this data.  | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | 0000000 |
Location-Based | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | Copy restricted. Please purchase to unlock this data. | 0000000 |
Unspecified Calculation Method | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
Total Scope 3 | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
Total Scope 1 Revenue Intensity (tCO2e/$M) | Copy restricted. Please purchase to unlock this data.  a | Copy restricted. Please purchase to unlock this data.  b | Copy restricted. Please purchase to unlock this data.  c | 0000000 |
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cVerified Sources Behind Xcel Energy’s Greenhouse Gas (GHG) Emissions Data
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Insights into Xcel Energy's Operational Emissions
In 2024, the total operational greenhouse gas (GHG) emissions ofXcel Energy amounted to33,420,000metric tons of CO2 equivalent.This figure includes both direct emissions from owned or controlled sources (Scope 1) and indirect emissions from purchased energy (Scope 2).a
Compared to 2023, the total operational greenhouse gas (GHG) emissions of Xcel Energydecreased by 8.41%, showing that the company has made progress in taking action to reduce the climate impact of its operations.ab
Xcel Energy's Scope 1 Emissions Over Time
- Total Scope 1
- Year-over-Year Change
What are Xcel Energy's Scope 1 emissions?
In 2024, the total Scope 1 emissions of Xcel Energy were 32,660,000 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Has Xcel Energy reduced its Scope 1 emissions over time?
Since 2020, Xcel Energy's Scope 1 emissions have decreased by 15.97%, reflecting a declining long-term trend in Scope 1 emissions over time.ad
Compared to the previous year(2023), Xcel Energy's Scope 1 emissions decreased by 9.73%, highlighting the company's efforts to lower direct emissions from assets it owns or controls.ab
What are Xcel Energy's Scope 2 emissions?
In 2024, Xcel Energy reported Scope 2 greenhouse gas (GHG) emissions of 760,000 tCOâ‚‚e without specifying the calculation method.a
Has Xcel Energy reduced its Scope 2 emissions over time?
Compared to the previous year(2023), Xcel Energy's Scope 2 emissions(Unspecified Calculation Method) rose by 145.16% in 2024, suggesting that the company faced challenges in reducing emissions from purchased electricity and energyab
What methodology does Xcel Energy use for Scope 2 reporting?
In 2024, Xcel Energy reported its Scope 2 emissions using an unspecified methodology.a
Xcel Energy's Scope 2 Emissions Over Time
- Total Scope 2 Location-Based
- Total Scope 2 Market-Based
- Total Scope 2 (Unspecified Calculation Method)
Insights into Xcel Energy's Value Chain Emissions
In 2024, Xcel Energy reported 22,100,000 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) of Scope 3 greenhouse gas (GHG) emissions, representing indirect emissions across its upstream and downstream value chain.a
The 2024 disclosure of Xcel Energy includes a breakdown across 4of the 15 Scope 3 categories defined by the GHG Protocol,matching the level of disclosure in 2023, demonstrating consistent Scope 3 emissions reporting coverage year over year.a
Xcel Energy's Scope 3 Emissions Over Time
- Total Scope 3
- Year-over-Year Change
What are Xcel Energy's Scope 3 emissions?
In 2024, Xcel Energy reported total Scope 3 emissions of 22,100,000 metric tons of COâ‚‚ equivalent (tCOâ‚‚e).a
Approximately 36.29%of these emissions originated from upstream activities such as purchased goods and capital goods, while 63.71%came from downstream activities like product use, distribution, and end-of-life treatment.a
Has Xcel Energy reduced its Scope 3 emissions over time?
Since 2020, Xcel Energy's Scope 3 emissionshave increased by 241.97%, reflecting a rising long-term trend in Scope 3 emissions over time.ad
Compared to the previous year (2023), Xcel Energy's Scope 3 emissions remained relatively stable, indicating that Xcel Energy's emissions have plateaued with no significant change in its value chain footprint.ab
What categories of Scope 3 emissions does Xcel Energy disclose?
In 2024, Xcel Energy reported emissions for 4 out of the 15 Scope 3 categories defined by the GHG Protocol.a
The limited disclosure restricts visibility into specific emission sources across the company's value chain.
What are the main sources of Xcel Energy's Scope 3 emissions?
In 2024, the largest contributors to Xcel Energy's Scope 3 emissions were:a
- Use of Sold Products (Cat. 11): 14,080,000 tCOâ‚‚e(63.71%)
- Fuel- and Energy-Related Services (Cat. 3): 8,000,000 tCOâ‚‚e(36.2%)
- Business Travel (Cat. 6): 10,000 tCOâ‚‚e(0.05%)
Xcel Energy's Scope 3 Emissions by Categories
Insights into Xcel Energy’s GHG Emissions Intensity Compared to Industry Peers
In 2024, Xcel Energy reported Scope 1 greenhouse gas (GHG) emissions of 32,660,000 tCOâ‚‚e and total revenues of USD 13,441 millions. This translates into an emissions intensity of 2,429.88 tCOâ‚‚e per millions USD.a
Xcel Energy's Scope 1 Emissions Intensity Compared to Peers
How does Xcel Energy's GHG emissions intensity compare to its peers?
In 2024, Xcel Energy reported a Scope 1 emissions intensity of 2,429.88 tCOâ‚‚e per millions USD. Compared to the peer group median of 2,153.56, this places the company above its industry benchmark, indicating it is less carbon-efficient than most competitors.a
Where does Xcel Energy rank on GHG emissions intensity within its industry?
In 2024, Xcel Energy ranked 17 out of 23 companies in its industry peer group, based on Scope 1 emissions intensity (measured in tCOâ‚‚e per millions USD).a
Xcel Energy is therefore positioned in the mid-range of its industry, neither a clear leader nor a laggard in carbon efficiency.a
Insights into Xcel Energy's Total Carbon Footprint
In 2024, Xcel Energy reported a total carbon footprint of 55,520,000 metric tons of COâ‚‚ equivalent (tCOâ‚‚e) across Scope 1, Scope 2, and Scope 3 emissions. This represents a 7.17% decrease compared to 2023, indicating progress in reducing its overall greenhouse gas output.ab
The largest contributor to Xcel Energy's total carbon footprint was Scope 1 emissions, accounting for 58.83% of the company's total carbon footprint, followed by Scope 3 emissions at 39.81%.a