On 28 December 2017, Xcel Energy filed their Electric Resource Plan (ERP) for Colorado. Over 350 proposals for renewable energy were received by Xcel Energy and highlight the incredible cost reductions in renewable energy with storage. According to the filing, the median bid price for wind plus storage was $21/MWh and for solar plus storage was $36/MWh. Around 26 GW of solar and wind with storage were bid.
- The filing shows the median bid price for wind plus storage was $21/MWh and for solar plus storage was $36/MWh. As far as we know, these are the lowest renewables plus storage bids in the US to date.
- Several details remain unknown, but the median bid for wind plus storage appears to be lower than the operating cost of all coal plants currently in Colorado, while the median solar plus storage bid could be lower than 74% of operating coal capacity.
- New research shows US coal burn declined 2% y-o-y, confirming coal is not coming back and will likely remain at the mercy of cheap gas and renewables.