Xcel Energy pushes electric vehicles for fleet, pledging 20 percent conversion by 2030
The service areas of Xcel Energy will soon see an influx of electric vehicles, following a company announcement this week that 1.5 million of the company’s service vehicles — representing 20 percent of its total fleet — will transition to electric by 2030.
Pitching the move as a means of reducing emissions and saving customers on fuel costs, Xcel hailed the announced as being capable of reducing carbon emissions by nearly 5 million tons annually by 2030. Xcel estimates an EV will cost $700 less per year to fuel than gas-powered cars as of 2030.
“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,” Ben Fowke, chairman and CEO of Xcel Energy, said. “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.”
Xcel will electrify all of its sedans by 2023 and all of its light-duty vehicles by 2030, along with 30 percent of its medium and heavy duty vehicles.
Transitioning some elements to electric vehicles will also benefit those who don’t drive EVs, according to Xcel. This is due to the additional electricity sales generated by EVs, offsetting the costs of investment into the system required to support them.
“Investing in electric vehicle charging infrastructure and accelerating electric transportation benefits customers, the environment, and the energy grid,” Tom Kuhn, president of the Edison Electric Institute, said. “As an industry, we have a tremendous opportunity in front of us to electrify the transportation sector to further leverage our industry’s impressive emissions reductions. Xcel Energy continues to lead by example with its bold vision and as it works to deploy even more electric vehicles across its fleet.”
The company is actively pushing forward EV plans and partnerships in tandem, focusing on equity, accessibility, and fairness in its growth efforts. To this end, it is working with transit agencies, car-sharing organizations, the federal government, states, and local communities to launch residential programs and drive both electric vehicle growth and a cleaner transportation system.
“The U.S. Department of Energy’s National Renewable Energy Laboratory is pleased to support and be a part of Xcel Energy’s exciting new EV vision,” Martin Keller, NREL Laboratory Director, said. “Electrification of the transportation sector is a critical priority in Colorado and other states that Xcel Energy serves.”
