Utility holding company Xcel Energy wants 1.5 million electric vehicles in its service areas by 2030. If realized, EVs would make up 20% of all vehicles on the road in those areas—more than 30 times the number today. Xcel services customers in Colorado, Michigan, Minnesota, New Mexico, North and South Dakota, Texas and Wisconsin.
Xcel said that it will need the support of policymakers, manufacturers and other stakeholders to make its vision real.
Electric vehicles are the next frontier in the clean energy transition, and we are committed to making charging EVs easy, convenient and affordable for customers. By accelerating EV adoption in the coming years, we can drive major reductions in carbon emissions while helping our customers save money and making the most of our clean energy investments. We have substantial plans in place in the states we serve, and we can expand on this with partnership and support from policymakers, regulators, customers, automakers and our communities.—Ben Fowke, chairman and CEO, Xcel Energy
Powering 1.5 million EVs would reduce carbon emissions by nearly 5 million tons annually by 2030, or about three tons of carbon reduction per vehicle. Electric vehicles charged on the increasingly clean Xcel Energy system will have about 80% lower carbon emissions than gas-powered cars by 2030. More EVs would also improve air quality by reducing other emissions, such as nitrogen oxide and fine particulate matter, that have the greatest impact on public health.
We are already busy creating new charging options for customers, whether they are residential customers or companies and government agencies with large vehicle fleets. Our new, ambitious EV vision builds on this work as we continue to lead the clean energy transition and enhance the customer experience while keeping bills low. We are actively seeking partnerships with automakers, tech and charging companies, other private and public sector entities, as well as our communities and customers, to find innovative ways to drive toward an electric vehicle future.—Brett Carter, executive vice president and chief customer and innovation officer, Xcel Energy
The company is developing its EV plans and partnerships with a focus on equity, accessibility and fairness, allowing everyone to benefit from the growth of EVs. In addition to helping customers who own EVs charge up at home and on the go, its programs aim to give all customers access to clean, affordable, electric transportation. That includes working with transit agencies and car sharing organizations to increase access to the benefits of electric transportation, especially for those in underserved communities.
Xcel Energy will help lead the way in its own operations, with plans to electrify all sedans by 2023, electrify all light-duty vehicles by 2030 and have 30% of its medium- and heavy-duty vehicles electrified by 2030.
Xcel Energy is already launching and developing partnerships, programs and services to reduce barriers to EV adoption while making EV charging easier and more affordable. The major plans the company has proposed in Colorado, Minnesota, New Mexico and Wisconsin aim to support residential charging, increase access to electric transportation for all customers, speed fleet electrification, and expand public charging options. Through its plans so far, Xcel Energy has proposed investing $300 million to accelerate adoption of EVs in its communities.
Highlights of the initiatives underway include:
A charging subscription pilot in Minnesota allows customers to charge up as much as they need on nights and weekends for one low, flat monthly price, and a home charging service program coming soon that makes it easier for customers to have charging equipment installed.
A residential smart charging pilot launching later this year that will reward customers in Colorado for conveniently optimizing their charging times to benefit the grid and use more renewable energy.
Pilots and programs to increase access to public charging in Colorado and Minnesota by providing infrastructure to help reduce the upfront costs New residential and business programs for customers in Wisconsin will significantly lower the cost of charging equipment and encourage charging during low-cost, off-peak hours.
Education and advice for customers and the public about the benefits of electric vehicles, whether they visit Xcel Energy’s website, visit a dealership or call the company’s energy experts.
Fleet infrastructure programs help public transit agencies and fleet operators plan for and implement charging solutions that drive their transition to electric vehicles.
Active conversations with a wide variety of partners to help achieve this 2030 EV vision.