Tri-State achieves 2023 energy efficiency targets in Colorado; increases noted in other states
- Energy efficiency targets were set in the 2020 electric resource plan.
- Achievement of target demonstrates Tri-State’s ability and dedication to meeting its regulatory commitments.
(January 19, 2024 – Westminster, Colo.) In the first major achievement of its 2020 Electric Resource Plan, Tri-State Generation and Transmission Association announced it had reached its 2023 annual energy efficiency savings target for its Colorado system load. Tri-State also increased member energy efficiency in Nebraska, New Mexico and Wyoming.
As part of agreements reached with more than two dozen parties, and later approved by the Colorado Public Utilities Commission in April 2022, Tri-State agreed to annual energy efficiency savings targets for its Colorado member system load of at least 0.35% in 2023.
To reach the 2023 target, 39.1 gigawatt-hours (GWh) in energy efficiency savings were achieved. Through its members, Tri-State invested $4.71 million in various programs, primarily including commercial lighting, residential air-source heat pumps and custom commercial electrification programs, including a new program supporting the oil and gas industry. Efforts also included electric vehicle charging and outdoor power equipment programs.
“Our energy efficiency programs are a key component of our ongoing clean energy transition and show that Tri-State is and will continue to deliver on our regulatory commitments. These programs also help to improve electric system reliability and resilience, and they reduce energy costs for our members’ consumers,” said Reg Rudolph, Tri-State’s Chief Energy Innovations Officer.
Tri-State greatly values its partnerships with organizations, including Southwest Energy Efficiency Project (SWEEP) and the Colorado Energy Office, which helped advance deployment of air source heat pump and custom commercial programs.
In addition to achieving its goals in Colorado, Tri-State also saw advances in other states where its membership operates.
Program savings in Wyoming increased to 0.98 GWh, driven primarily by air-source heat pump, and oil and gas efficiency programs. In Nebraska, program savings totaled 1.59 GWh, with investment in air-source heat pumps and outdoor lighting driving the savings. In New Mexico, program savings total 6.01 GWh, with use of air-source heat pumps, custom commercial incentives and electric vehicle charging infrastructure as the leading saving components.
“Our ability to meet our energy efficiency targets in Colorado, and increase energy efficiency in Wyoming, Nebraska and New Mexico, is a tribute to our cooperative and public power district members. They worked with Tri-State to bring these programs to fruition at the local level and their participation in these programs is yet another example of the success of our cooperative business model,” Rudolph said.
For 2024, Tri-State will use $26.8 million in federal funding received in October 2023 from the U.S. Department of Energy to increase power grid resilience and reliability. The funds will advance the Cooperative Energy Ecosystem, a project for distributed energy resource management collaboration between our not-for-profit wholesale power supply cooperative and its member distribution cooperatives and public power districts.
Tri-State will match the federal funding to a total of $53 million to optimize the electric grid, including support in rural communities for home weatherization, electrification and energy efficiency rebates, commercial and industrial energy efficiency improvements, community solar projects and electric vehicle charging. The benefits target low-income and energy-burdened rural communities, while supporting Tri-State’s goals for emissions reductions.
Also, for 2024, Tri-State is initiating its demand response programs in conjunction with its members, which would give the generation and transmission cooperative, and its members, the ability to ability to control electricity load in short bursts during periods of peak demand.
Tri-State is a power supply cooperative of 45 members, operating on a not-for-profit basis, including 42 utility electric distribution cooperative and public power district members in four states. Together with our member/owners, we deliver reliable, affordable and responsible power to more than a million electricity consumers across nearly 200,000 square miles of the West. For more information about Tri-State, visit www.tristate.coop.
Certain information contained in this press statement are forward-looking statements including statements concerning Tri-State’s plans, future events, and other information that is not historical information. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those described from time to time in Tri-State’s filings with the Securities and Exchange Commission. Tri-State’s expectations and beliefs are expressed in good faith, and Tri-State believes there is a reasonable basis for them. However, Tri-State cannot assure you that management’s expectations and beliefs will be achieved. There are a number of risks, uncertainties and other important factors that could cause actual results to differ materially from the forward-looking statements contained herein.