ROSWELL, New Mexico (March 3, 2022) – Xcel Energy is offering its New Mexico customers a fast and easy way to charge electric vehicles at home during off-peak periods for the equivalent of about $1 per gallon of gasoline through a suite of innovative programs aimed at increasing the number of EVs on the road.

“Our New Mexico customers spend a lot of time behind the wheel and a large share of their income goes to buying fuel because of the long distances they have to drive,” said David Hudson, president, Xcel Energy – New Mexico. “Xcel Energy is now making it easier for customers to power their rides with electricity and trim a significant amount of money from their transportation budgets.”

Improved EV batteries have extended a fully charged EV’s range from 150 to 300 miles, according to energy.gov. Xcel Energy’s programs are designed to make the transition to EVs easier by offsetting upfront costs for charging equipment, infrastructure upgrades and developing public charging facilities so drivers can reliably and affordably traverse New Mexico’s wide-open spaces.

Xcel Energy has a bold vision to power 1.5 million EVs in the eight states the company serves by 2030. As Xcel Energy increases the amount of carbon-free energy on its system, customers are increasingly charging with cleaner, reliable, and more affordable energy, allowing them to charge EVs for less.

Xcel Energy’s EV vision supports New Mexico’s goal to reduce carbon emissions by 100% by 2045 and complements Xcel Energy’s vision to deliver 100% carbon-free electricity to customers by 2050.

EV Programs for Xcel Energy New Mexico Residential Customers

  • Advisory Services offer customers information about the benefits of electric vehicles and digital tools for finding where to buy EVs, deciding which vehicle is right for them, locating public charging, comparing rates for home charging and learning ways to make driving EV driving easier and less costly.
  • EV Accelerate At Home is a turnkey home charging program that provides customers with a Level 2 charger (faster charging through a 240-volt circuit) installed and maintained by Xcel Energy and its local electrician network. Customers pay $12 a month on their bill for the charger rental, installation by a vetted electrician, and charger maintenance for as long as they are in the program.
  • Home Wiring and Charger Rebates allow customers who install a dedicated electrical circuit to support Level 2 charging to receive a rebate of up to $500 to cover the costs of permitting, materials, installation and electrical work needed to install the circuit. Costs for purchasing an eligible Level 2 charger can also be included. Customers who meet certain income guidelines can qualify for an enhanced rebate of $2,500. Customers in Xcel Energy’s EV Accelerate At Home program can have Xcel Energy electricians provide a bid for any home wiring work to upgrade to a dedicated circuit needed for a Level 2 charger and apply rebate savings instantly.
  • Optimize Your Charge rewards customers for charging during off-peak periods with a $50 credit on their bill every October. It also encourages charging when renewable energy is abundant, often overnight, to help reduce the amount of EV charging that occurs during peak energy use periods. Participants choose from three charging windows and have flexibility to adjust their charging as needed outside the selected charging window.

EV Programs for New Mexico Commercial and Community Customers

  • Community Advisory will be available as a first step to electrification. The company is launching a series of webinars to guide communities with a plan for transitioning to electric vehicles. This involves an introduction to electric vehicles and implementation plans.

  • Fleet Electrification Advisory Services will be available for free for our eligible business customers that have fleets and provides vehicle assessment and access to a customized report that uses real-time fleet operation data and business goals to capture EV suitability and costs, taking the guesswork out of electrifying fleets. Xcel Energy also has dedicated advisors that guide commercial customers with planning for infrastructure and procurement.

 

  • Public or Community Charging Hub Infrastructure will be offered to customers interested in hosting public charging. At little or no cost, the company will design and install the EV infrastructure – typically from the customer’s meter to the charging port – and guide customers to next steps to saving time and money. Xcel Energy is working with retailers, businesses and government organizations interested in hosting public charging facilities by offering comprehensive services to expand charging options for employees, visitors and customers.

Information about EV programs is available at xcelenergy.com/ElectricVehicles. Customers can submit an interest form and connect with an EV advisor who can help get them started.

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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.