MGE Targets Net-Zero Carbon Electricity by 2050
Madison Gas and Electric (MGE) set a new goal of net-zero carbon electricity for its customers by 2050 at its annual shareholders' meeting held on Tuesday, May 14.
MGE already has been on a path to reduce carbon, having reduced carbon dioxide emissions 23% since 2005 and targeting carbon reductions of at least 80% by 2050 from 2005 levels.
Future site of Badger Hollow Solar Farm in Iowa County, Wis.
"In creating an energy future for our customers and shareholders, we need ambitious and crucial reductions in carbon emissions that align with the work of the scientific community, specifically the Intergovernmental Panel on Climate Change (IPCC) and its assessment of limiting global temperature increases to 1.5 degrees Celsius by 2050," Jeff Keebler, MGE Chairman, President and CEO, said in a statement after the meeting. "Since introducing our carbon reduction targets, we have always said that if we can go further faster by working with our customers, we will. We believe it is important to articulate a long-term goal that is both visionary and based on the best climate science available. Our net-zero carbon goal is aggressive, and it will require technologies not yet commercially available or cost-effective, but it is where we need to be," he added.
MGE's mission continues to be safe, reliable, affordable and sustainable electricity for all customers. Through the application of science and investment in the technologies of today and tomorrow, MGE will continue to fulfill its mission.
Climate Science Partnership
MGE also announced it will be working with scientists at the University of Wisconsin-Madison, Nelson Institute for Environmental Studies and Department of Atmospheric and Oceanic Sciences to help evaluate the company's net-zero carbon goal in the context of the analyses done by the IPCC. The university will provide expert input and perspective to ensure MGE's goal is consistent with the IPCC assessment.
Energy 2030 Framework
In 2015, MGE announced its Energy 2030 framework, which laid out its foundational objectives for building your community energy company for the future. These remain our objectives as we continue to build customer and shareholder value on our path to deep decarbonization.
Key strategies for deep decarbonization include reducing the carbon intensity in electricity generation through adding significant new renewable energy resources and reducing the use of fossil fuels; continued work to help customers with energy efficiency; and electrification, including transportation.
"We are excited about our path, our progress and our ultimate vision. To us, this is what it means to lead and to serve," said Keebler.