New 2050 vision expands ambitious 2030 goals supporting clean,
affordable transportation
Xcel Energy today announced a new transportation vision that
drives toward providing the infrastructure and energy to run all
vehicles in its service area on carbon-free electricity or other
clean energy by 2050. Expanding upon the company’s existing 2030
electric vehicle (EV) vision supports its overall goal to become a
net-zero energy provider by 2050. By enabling a zero-carbon
transportation future, the company’s clean energy can also help
customers save billions of dollars in fuel costs and deliver
cleaner air for everyone.
“Xcel Energy is making incredible progress and has already
reduced power sector carbon emissions by 50% since 2005,” said Bob
Frenzel, chairman, president, and CEO of Xcel Energy. “As we expand
our clean energy leadership to transportation, which is the largest
emitter of greenhouse gases in the nation, we know that electric
vehicles are a key component of our comprehensive strategy to be a
net-zero energy provider by 2050.”
Xcel Energy’s zero-carbon transportation vision for 2050
includes:
- Providing the fueling infrastructure and energy system to run
all vehicles in its service area on carbon-free electricity or
other clean energy.
- Ensuring all customers can access affordable, convenient
electric vehicle charging at or within one mile of their homes and
that underserved communities have opportunities to participate in
Xcel Energy programs and the economic development benefits
associated with zero-carbon transportation.
- Operating a zero-carbon Xcel Energy fleet.
Xcel Energy was the first in the industry to set ambitious
greenhouse gas goals across all the ways its customers use energy:
electricity, heating and transportation. The new vision complements
the company’s interim goal of enabling one out of five vehicles in
the areas it serves to be electric by 2030 which was announced in
August of 2020. Under its 2050 vision, all vehicles would run on
zero-carbon fuel, which may be electricity or other clean energy
like carbon-free hydrogen for future fuel cell electric
vehicles.
“To avoid the most catastrophic effects of climate change, we
must drastically reduce greenhouse gas emissions in the coming
decades,” said Jason Albritton, director, climate and energy
policy, The Nature Conservancy. “Meeting this challenge will
require all companies to reduce emissions from their own operations
and work collaboratively with governments, NGO partners, and
customers to drive innovation and climate action. A carbon-free
transportation sector is essential for meeting climate goals and
will provide significant health benefits, particularly in urban
areas. Today’s commitment from Xcel Energy is an important step and
will hopefully serve as an example to businesses from all economic
sectors while spurring additional state and federal policy action
to address the climate crisis.”
“Xcel Energy’s goal for a zero-carbon transportation sector in
their service territory by 2050 is the type of ambitious commitment
needed to decarbonize one of the highest emitting sectors of the
economy,” said Armond Cohen, President of Clean Air Task Force
(CATF). “CATF looks forward to seeing concrete programs developed
and implemented to achieve this goal—including further details on
enabling an equitable transition and providing zero-carbon fuels
like hydrogen for the transportation sector—and we hope to see
other utilities pursuing similar commitments.”
With Xcel Energy increasing the amount of renewable and
carbon-free energy on its system, an electric vehicle powered with
Xcel Energy electricity in 2021 was over 55% cleaner than a
conventional gasoline-powered vehicle and is expected to be at
least 80% cleaner by 2030, under its plans for reducing carbon
emissions. Lower cost is another key benefit – charging an EV
during off-peak rate periods currently costs the equivalent of
about $1 per gallon of gasoline or less, saving customers $1
billion annually on fuel by 2030.
“Xcel Energy has been a national leader in both decarbonizing
its generation fleet and promoting forward-leaning policies on
transportation electrification for the past several years, and now
it is taking the conversation to a new level,” said Phil Jones,
Executive Director, Alliance for Transportation Electrification
(ATE). “In addition to its bold vision, Xcel Energy is also
proposing specific and tangible programs in its States to
accelerate progress now. The utility must play a key role in
enabling this market transformation, engaging with its host sites
and customers, and managing the charging data in a way that
benefits both the customers and the overall electric grid. That is
why ATE and I support this plan strongly and will work to bring
these programs and tariffs to a tangible reality soon.”
To help make its clean transportation vision a reality, Xcel
Energy will continue expanding programs, including those that make
charging EVs at home, at work and on the go convenient and
affordable for all customers. Its transportation vision supports
everyone in the communities it serves to experience the benefits of
electric transportation, whether they own an EV, use public
transit, or benefit from improved air quality. The 2030 interim
goal also aligns with several state targets in its service areas,
such as those of Colorado and Minnesota.
“Xcel Energy is embarking on a vision to place diversity, equity
and inclusion at the center of this strategy and sets a path
forward to provide access to clean transportation for all,” said
Terry Travis, managing partner of EVNoire. “We view this effort as
a step towards a vision for a cleaner and greener transportation
future benefitting all communities.”
Expanding electric vehicle programs and public
charging
To help drive toward this clean transportation future, the
company today filed proposals in Minnesota and Wisconsin for new
and enhanced electric vehicle charging programs to make charging at
home easy, fast and more affordable for all customers. The proposal
also includes expanded solutions supporting public charging,
businesses, multifamily buildings, community charging, transit and
electric school buses.
The proposal would significantly increase the number of public
EV charging stations in Minnesota and Wisconsin, making it easier
for drivers to charge on the go, by adding about 750 high-speed
charging stations across the two states, including up to about
1,500 charging ports total by 2026. This expansion positions the
Upper Midwest as a national leader in accessible, affordable
charging options, allowing Xcel Energy to work with interested
communities and site hosts to locate charging stations in both
urban and rural areas, particularly along interstates, state
highways and other traffic corridors.
The proposal also enhances the successful EV Accelerate at Home
program, which provides a turn-key option working with local
electricians to install a home charger, in both states to better
meet customers’ needs and expands programs and charger options to
help businesses provide EV charging for employees, renters, fleet
vehicles and the public.
These proposals are in addition to existing offers in some of
Xcel Energy’s states that support the vision. In 2021, the company
launched a record 14 new clean transportation programs in Colorado
and Minnesota, and this year, rolled out a suite of new EV programs
for customers in New Mexico. The new programs are in addition to
those already offered to customers in Minnesota and Wisconsin.
In Minnesota, an electric school bus pilot is also proposed, as
part of the company’s partnerships, research and innovation
initiative. Through the school bus pilot, Xcel Energy will help
address the significant upfront cost and operational challenges of
transitioning to electric buses and better understand how these
buses can most efficiently support and integrate into the electric
grid, among other research objectives. Pending regulatory approval,
the 32 buses will be used in a vehicle-to-grid demonstration
project to help maximize the benefits of electric buses to schools
and to the electric grid.
For more information on EVs and available programs, visit
xcelenergy.com/EV.
About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers
millions of homes and businesses across eight Western and
Midwestern states. Headquartered in Minneapolis, the company is an
industry leader in responsibly reducing carbon emissions and
producing and delivering clean energy solutions from a variety of
renewable sources at competitive prices. For more information,
visit xcelenergy.com or follow us on Twitter and Facebook.
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