Colorado is going to witness something exciting this month. The news of a utility bid solicitation is making energy enthusiasts excited. It is time for anyone legible to apply for a Colorado Tax ID to help the state in this new endeavor. Utility is currently asking for request for proposals from developers who are planning to build the latest energy resource. The developers who are participating are not only basing on guess but they are proposing what they think they will be able to deliver.
This is why it is worth noting the responses of the developers to a request for proposals because it will give someone an idea of the industry’s current state. The responses are not affected by ideology and there is no alterations made for the purpose of public relations. For the industry of renewable energy, it has becoming evident that the costs are going down that optimistic analysts have good projections.
The biggest utility in Colorado, Xcel Energy, is currently looking for new renewable. The utility is serving 3.3 million customers located in New Mexico, Midwest and Colorado. The utility company in 2016 launched their Colorado Energy Proposal. According to the utility, they are planning to close down two of their coal plants within the state. As a replacement, solar energy of about 700 MW will be utilized along with 1 GW of wind as well as natural gas with a capacity 700 MW. This are all expected to come to fruition in 2023.
When this happens, around 55 per cent of the energy mix of Xcel in Colorado is going to be renewable. There are many reasons why Xcel is pushing for renewable energy including public sentiment, price and federal tax credits.
Before the end of 2017, an overwhelming number of developers decided to bid in building renewable energy. This is because of the fact that renewable in Colorado is quite cheap including the storage. According to Xcel, around 55 bids have come forward in 2013 while in 2017 there are 430 bids for 238 different projects. With the bright future of renewable energy, more residents are encouraged to apply for a Colorado Tax ID because of the benefits.