By: Jacob Kim
Three Colorado utilities—Tri-State Generation and Transmission Association, United Power, and CORE Electric Cooperative—will receive a combined $1.1 billion in federal grants and loans as part of the Inflation Reduction Act. This funding aims to accelerate the shift to renewable energy and alleviate rate increases for customers. Tri-State, which serves 41 co-ops across four states, received the largest portion of the funds, with $679 million. The money will be used to close 1,100 megawatts of coal-fired plants in Colorado, Arizona, and New Mexico, and to build or acquire 1,480 megawatts of solar, wind, and battery storage. The funds will help Tri-State exceed Colorado’s greenhouse gas reduction goals by cutting emissions 89% from 2005 levels by 2030, surpassing the state’s 80% target. In addition to new renewable energy projects, the funding will reduce the financial burden on member co-ops by $422 million over the next 20 years.
CORE Electric Cooperative and United Power will use their respective $225 million and $261 million awards to further invest in clean energy portfolios, including solar, wind, and battery storage projects. United Power, serving around 300,000 people, plans to bring online an additional 460 megawatts of solar power by 2030, while CORE will procure 550 megawatts of renewable energy and 100 megawatts of energy storage.
This funding is part of a $9.7 billion initiative under the Biden administration’s New ERA program, designed to transition rural communities toward sustainable energy solutions. It marks a significant step forward in reducing greenhouse gas emissions and increasing renewable energy across Colorado and the western U.S. As coal was an immense factor in the rapid development of industrial productivity since the 1860s, straying away from coal production is a major step that the state of Colorado has been attempting to take since the Clean Air Act in 1970 but has been truly taken by the grants given by President’s Biden legislation.
Source
Energy Outlook 
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