Colorado officials think freight trains are the key to renewable energy transmission statewide. Here's why. [CBS News]
Xcel Energy Inc. (XEL)
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Source: CBS News
Essentially, it's a giant battery lumbering down the tracks to help alleviate Colorado's increasing electricity needs. "We can actually move grid-ready electricity as commodity over the existing freight rail network," said Christopher Smith, the Chief Technology Officer of Suntrain, the company that pledges to transform the state's energy future. The challenge is there is currently a lack of transmission lines in the state and nationwide. Construction of these lines -- which are extremely costly and time-consuming to build -- is lagging far behind what is needed to adequately transmit energy around the state. Currently, much of the solar and wind energy produced in Colorado is tucked away in the southeast corner of the state. "The grid is starting to become difficult and low balancing," Smith said. "We need new transmission lines. We need a lot of new infrastructure in general." So the solution, Suntrain officials say, is to move it by rail instead. The argument is exceedingly
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XEL
Earnings
- 10/31/24 - Miss
XEL
Sec Filings
- 12/9/24 - Form 4
- 11/7/24 - Form 8-K
- 11/5/24 - Form 8-K
- XEL's page on the SEC website