Xcel Energy’s new electric vehicle vision to save customers billions while delivering cleaner air
12 Aug 2020
Transitioning 20% of all vehicles to electric by 2030 will reduce carbon emissions and save customers billions in fuel costs
Eau Claire, Wis. (Aug. 12, 2020) – Xcel Energy, a national leader in the clean energy transition, announced today its vision to drive toward powering 1.5 million electric vehicles in its service areas by 2030. As a result of this vision, EVs would make up 20% of all vehicles on the road in those areas, more than 30 times the number today, helping save customers billions of dollars in fuel costs, while significantly cutting carbon emissions from transportation.
By making it easy for more people to use EVs through new charging infrastructure and customer programs, the company’s vision will build the future of clean, affordable transportation in the eight states it serves. As drivers, ride-share companies, public transit and other fleet operators replace vehicles with EVs, they will see substantial savings on fuel, because driving electric is equal to spending about $1 per gallon of gas and can be significantly less when charging overnight. By 2030, an EV would cost $700 less per year to fuel than a gas-powered car, saving customers $1 billion annually. To make the company’s vision a reality, it will need the support of policymakers, manufacturers and other stakeholders.