Anatomy of a Utility EV Incentive Program

What’s happening? Xcel Energy is expanding its EV incentive program to include:

• Incentives to purchase used EVs
• $5,500 off a new EV purchase or lease, and $3,000 off of used
• Home charging station incentives that include a demand management program for the electricity with a $50 annual credit for customers
• Xcel will now lease a double-speed fast charger, or Level 2, to customers for $13.29 a month, installed and maintained by the company
•  $500 rebate for the wiring work, with up to $1,300 for lower-income customers. 

Why is this important? The program is more expansive than the state of Colorado’s and reaches more families

How will this be important? Xcel’s program is hailed as one of the most expansive in the country

Colorado Sun | Xcel Energy’s new electric vehicle incentives include used-car rebates, wiring homes for chargers