WEC Energy Group expands carbon reduction goals, targeting net zero by 2050

Read the full story at Utility Dive.

WEC Energy Group, a major Midwestern utility, on Tuesday unveiled a series of new and more aggressive environmental goals. The Wisconsin-based power company says it is committing to a 60% reduction in carbon emissions at its electric plants by 2025, relative to 2005 levels, and an 80% drop by 2030. That’s up from its previous goal of 70% by 2030, with the utility last year having pledged to become net carbon neutral by 2050.

WEC says it plans to reach those targets in part through a $16 billion-plus capital investment plan, detailed in a newly released report on the company’s environmental goals. The plan calls for billions in investments in renewable energy projects.

Analysts say the new goals propel WEC into the forefront of utilities with major commitments to phasing out fossil-fuel based power in favor of cleaner energy sources. However, WEC also faces pressure to completely phase out its remaining coal-fired plants, despite a pledge to reduce coal-fired generators to 10% of its overall asset base by 2025.

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