How To Make Affordable EVs Even More Affordable, Utility Edition

Affordable EVs are getting even more affordable as utility companies seek new markets for electricity in the personal mobility sector. Last year, the Minneapolis-based company Xcel Energy introduced a plan to encourage the purchase of 1.5 million electric vehicles among ratepayers in its service territory, which spans Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin. Now the company has set the wheels in motion, and it has just dropped word on the details for ratepayers in Colorado. The first thing to note is Xcel’s new purchase/lease rebate program for EVs, to the tune of $5,500 for qualified customers for a new vehicle, or $3,000 on a pre-owned one. To keep the kilowatts flowing, Xcel is also offering to install Level 2 EV chargers on a rental basis at $15.00 per month.

By Tina Casey. Clean Technica. September 13, 2021.

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