On January 11, 2021, the Colorado Public Utilities Commission (PUC) formally approved Xcel Energy’s $110 million “2021-2023 Transportation Electrification Plan,” which includes installing approximately 20,000 electric vehicle (EV) charging stations at residential, commercial, and public sites across Xcel's Colorado service territory.[1][2] Xcel’s plan, which was first filed in 2020, comes as a result of a bipartisan bill passed in 2019 that directed Colorado’s electric utilities to file applications to enable the deployment of EV charging stations and support EV adoption. Colorado has set a goal of having 940,000 EVs on the road by 2030 and Xcel has stated that their plan is designed to help the state achieve that goal. Xcel's plan includes an emphasis on ensuring EV adoption for all customers, with approximately 15% of the program budget directed toward equity-focused programs. The approved plan includes a $5 million pilot to provide rebates to income-qualified customers to support low-income adoption of EVs. Through this pilot, Xcel will offer upfront $5,500 rebates for new EV purchases and $3,000 for used EVs for qualifying customers. Xcel’s plan also includes adding programs and rates to help manage the new charging load. According to Utility Dive, Xcel's plan will add about 67 cents to monthly customer bills.

[1] https://www.dora.state.co.us/pls/efi/EFI_Search_UI.Show_Decision?p_session_id=&p_dec=28011

[2] https://www.nrdc.org/experts/miles-muller/colorado-approves-110m-transportation-electrification-plan