Colorado is racing to lock in billions of dollars in savings for residents by fast-tracking clean energy projects before key federal tax credits expire, benefiting both customers and the environment.
According to Canary Media, leaders in the state’s energy sector filed an urgent request Aug. 22 asking regulators to expedite approvals for new renewable projects. Just five days later, the utilities commission approved an accelerated timeline for permitting and construction, a rare move for state energy regulators.
The plan would finalize approvals by mid-2026 for 4 gigawatts of new wind and solar power, 200 megawatts of thermal power, and 300 megawatts of battery storage. Colorado already has 5 gigawatts of wind and 4.5 gigawatts of solar installed, meaning this expansion could significantly boost the state’s capacity to deliver affordable, reliable clean energy before the Trump administration’s new energy-constraining laws take effect.
The clear threat of higher energy prices caused by the administration’s policies has created a rare alignment of interests among utility providers and ratepayer advocates to take advantage of Inflation Reduction Act tax credits right now.
Colorado’s largest utility provider, Xcel Energy, stated that the accelerated plan could save customers $5 billion over the next two decades, providing critical relief as electricity demand rises faster than it has in decades. More clean power means less reliance on volatile coal and gas prices, helping protect residents from future price spikes.
Wind, solar, and storage projects can also significantly reduce planet-overheating pollution, lower air pollution from dirty energy plants, and make communities more resilient as demand for power surges from electric vehicles and costly data centers.
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Colorado’s push is being watched closely across the country. California Gov. Gavin Newsom recently signed a similar executive order to help projects meet expiring federal deadlines.
Colorado Gov. Jared Polis urged authorities to “eliminate administrative barriers and bottlenecks for renewable projects,” adding that “getting this right is of critical importance to Colorado ratepayers; by maximizing the utilization of tax credits while they’re available and reducing future tariff uncertainty, the State can avoid billions of dollars in additional energy costs for decades to come.”
“Clean energy really is the lowest-cost, fastest-to-deploy resource now,” said Sam Ricketts, cofounder of S2 Strategies, a clean energy advisory firm. ”We need more generation, and everyone knows it. … [But] the federal government is doing all it can to go in the wrong direction.”
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