The Factbook outlines key trends influencing national and state investment and economics, energy supply, and energy demand. As the American energy sector continues its transformation to cleaner, cheaper sustainable energy, Minnesota remains a leader.
Highlights from the 2020 Minnesota Energy Factsheet include:
- Nearly half of Minnesota's power came from zero-carbon sources in 2019. Meanwhile, coal's contribution slipped from 38 percent in 2018 to 32 percent in 2019.
- Renewables have accounted for 84 percent of all new electricity generation capacity added since 2010, totaling 3.4 gigawatts.
- Increased local electricity generation coincided with a sharp decline in harmful carbon emissions. Emissions have fallen 37 percent since 2005 and 27 percent since 2010. From 2018 to 2019 alone, emissions fell nearly 14 percent.
- Over the last decade Minnesota has boosted its energy productivity by 22 percent as power consumption is up 2 percent while state GDP is up 24 percent.
- Major Minnesota-based corporations have increased their efforts to procure renewable energy. 3M Co., Cargill Inc., Ecolab Inc., Target Corp., and General Mills between them have now signed agreements to power their operations with either wind or solar energy from projects representing over 1 gigawatt of capacity.
- Excluding the production tax credit (PTC), new wind builds are cheaper than new combined-cycle natural gas plant builds on a $/MWh basis in Minnesota. With the PTC and investment tax credit (ITC), wind and solar technologies are the cheapest form of new electricity generation in the state.
- Between 2018 and 2019, unsubsidized utility-scale wind and subsidized utility-scale solar both experienced a 2.5 percent decline in price.
- Electric vehicle sales in Minnesota are accelerating as battery prices have fallen. From 2015 to 2019 annual sales of battery electric vehicles are up 8x to 2,600 units. Annual plug-in hybrid electric vehicle sales rose nearly 3x to 1,200 units.
- The American Council for an Energy-Efficient Economy (ACEEE) ranked Minnesota 8th out of all 50 states for its overall energy efficiency programs (the highest ranking in the Midwest).