Press release
Xcel Energy's new electric vehicle vision to save customers billions while delivering cleaner air
Transitioning 20% of all vehicles to electric by 2030 will reduce carbon emissions and save customers billions in fuel costs MINNEAPOLIS--(BUSINESS WIRE)--
About this update from Xcel Energy Inc.
[{"type":"text","content":"\nTransitioning 20% of all vehicles to electric by 2030 will reduce carbon emissions and save customers billions in fuel costs\n\n MINNEAPOLIS--(BUSINESS WIRE)--\nXcel 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.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200812005520/en/(Photo: Xcel Energy)\n\nBy 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.\n\n\nBuilding on the company’s vision to provide 100% carbon-free electricity by 2050, 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 in our communities by reducing other emissions, like nitrogen oxide and fine particulate matter, that have the greatest impact on public health.\n\n\nThe transition to more electric cars, trucks and buses will also help keep bills low for all customers, including those who don’t drive an EV. The additional electricity sales generated by EVs more than pay for the system investment required to support them. So as more vehicles transition to electric, everyone will benefit from cl...