Study: Colorado’s least-cost energy plan could cut carbon emissions 98.5% by 2040, costing $37.5 billion.

A study by Ascend Analytics has found that a least-cost approach to meet growing electric demand in Colorado would make up about 1% of the state’s electricity use in 2040 under this approach, according to the study. The study, which included a technology-neutral approach that would cost $37.5 billion, found that it would reduce carbon emissions from the state’s power sector 98.5% below 2005 levels by 2040. The findings will be used in the debate in Colorado’s next legislative session on expanding the statewide clean energy goals beyond an 80% greenhouse gas emissions reduction target for 2030. The scenario retains 8,215 MW of gas-fired generation to meet capacity needs and retains 16% of imports of near zero-emissions electricity from out-of-state imports and 10% from energy efficiency. The analysis was developed with input from stakeholders, including utilities and environmental justice groups. The draft model does not select gas with carbon capture or advanced nuclear modular reactors due to their cost.