For decades, NextEra Energy has been reducing emissions through the development of renewable energy and modernizing our generation fleet. Since 2001, we have reduced our CO2 emissions rate by 52 percent. We plan to continue our commitment to reducing our CO2 emissions rate with a target of more than 65 percent by 2021.*
In 2017, 97.3 percent of the power produced by our facilities was generated from a diverse mix of clean or renewable sources, including wind, solar, combined-cycle natural gas and nuclear. Along with NextEra Energy Resources being the world's largest generator of renewable energy from the wind and sun, FPL's investments in affordable clean energy infrastructure, which includes adding advanced technologies and phasing out older coal-fired and oil-burning power plants, has saved customers nearly $9.3 billion in fossil fuel costs and prevented 120 million tons of carbon dioxide emissions since 2001.
FPL has invested in advanced generation technology to modernize our older, outdated power plants to highly efficient natural gas facilities that produce more energy with less fuel and substantially lower emissions.
We are also greatly reducing our reliance on coal and oil -- in addition to shutting down two coal facilities within the past two years, we are planning to phase out an additional coal facility by 2020. FPL projects that solar will outpace coal and oil combined as a percentage of the company's energy mix by the year 2020.
Beyond our power generation, through innovation and support of new technologies, we are reducing emissions and encouraging customers to do the same.
Water is critical for traditional forms of power generation, which use water to create steam to drive electric generators as well as to cool certain power plant operations. To ensure sustainable access to this natural resource, we're active stewards for sourcing, using and managing water in the communities in which we operate.
We're taking measures to reduce our water consumption, including investing in both water-free power generation from wind and solar and in more efficient generation in our facilities that use steam turbines.
As in other areas of our operations, we adopt best practices for water management to minimize our environmental footprint while optimizing operational and financial performance. Existing facilities are constantly challenged to be innovative and to fine-tune their operations. For example:
*Achievement of the CO2 emissions rate goal will be dependent on many factors including, but not limited to, future technology development, governmental policy and mergers and acquisitions.
*Please note that the environmental attributes of NextEra Energy's electric generating facilities have been or likely will be sold or transferred to third parties, who are solely entitled to the reporting rights and ownership of the environmental attributes, such as renewable energy credits, emissions reductions, offsets, allowances and the avoided emission of greenhouse gas pollutants.