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The Comanche 3 coal-fired power plant in Pueblo, Colo., is set to close in just six years -- and community leaders, regulators, and Xcel are considering plans to replace the unit's energy and economic contributions.

A new Energy Innovation report suggests that an industrial-scale energy park that harnesses wind, solar, and battery storage would check all the boxes.

Michelle Solomon, electricity policy manager with the nonpartisan think tank Energy Innovation, said the energy park would create some 300 permanent, high-paying jobs in plant operations, engineering, and more.

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"The energy park could generate up to $40 million in annual tax revenue for Pueblo," said Solomon, "which is really important because they depend on this tax revenue that they're getting from Comanche right now -- for things like schools and libraries, things that the community can't afford to lose."

Comanche's connection to the power grid would allow the energy park to meet rising demand locally and in places like Colorado Springs and Denver.

A separate proposal calls for replacing Comanche with a small modular nuclear reactor, an energy source that does not emit carbon but remains controversial.

Tribal lands have been repeatedly targeted as radioactive waste dumps, and many still remember nuclear disasters at Three Mile Island, Chernobyl, and Fukushima.

Wind and solar are now the cheapest source for electricity - and Solomon said unlike nuclear-reactor or natural-gas plant projects, ratepayers would share startup costs with onsite manufacturers, who get guaranteed low-cost energy to produce fertilizer, hydrogen, and more.

"That could be used at any type of industry that's using heat," said Solomon. "So, that could be a steel plant, a cement plant, anything that's using heat for manufacturing."

Solomon said speed is also important for getting economic benefits flowing back into the community. The energy park could break ground before 2030, years earlier than other options.

"They are also the types of resources that can come online more quickly," said Solomon. "When the coal plant retires, the community can't wait a decade for a new resource to come online."