American Electric Power this week announced that it will accelerate its electric vehicle purchases with the goal of replacing 100% of its 2,300 cars and light-duty trucks with EV alternatives by 2030.
AEP’s total fleet is composed of nearly 8,000 vehicles, including medium- and heavy- duty vehicles, which it said it will also electrify as electric or hybrid models become available. The ultimate goal is electrifying 40% of its entire on-road vehicle fleet in less than 10 years. In addition, AEP will electrify 50% of its forklifts by 2030.
Transitioning light-duty vehicles to EVs has been part of AEP’s fleet strategy and will now become the standard across its subsidiaries. The company currently has 85 EVs, and more than 230 charging ports installed at locations throughout its 11-state service territory.
AEP is also working with customers and communities to share the benefits of electric transportation and support EV adoption. The company has created programs, such as incentives for charging station installations, off-peak charging programs, energy efficiency rebates, and consultative services to encourage electrification:
- AEP Ohio is deploying 375 publicly available charging stations
- Indiana Michigan Power offers customers rebates that reduce charging station costs and has an EV-specific off-peak rates to reduce their charging costs.
- Appalachian Power Company in Virginia also offers EV-specific off-peak charging rates.
- Public Service Company of Oklahoma and Southwestern Electric Power Company in Louisiana and Texas gives energy efficiency rebates on qualified EV chargers.
AEP has partnered with ChargePoint to offer tailored evaluations for C&I customers considering electrifying their fleets.
AEP’s companies include utilities AEP Ohio, AEP Texas, Appalachian Power (in Virginia and West Virginia), AEP Appalachian Power (in Tennessee), Indiana Michigan Power, Kentucky Power, Public Service Company of Oklahoma, and Southwestern Electric Power Company (in Arkansas, Louisiana, east Texas and the Texas Panhandle). AEP also owns AEP Energy, AEP Energy Partners, AEP OnSite Partners, and AEP Renewables, which provide innovative competitive energy solutions nationwide.
“AEP has made great progress in reducing the carbon dioxide output of our power generation fleet, cutting emissions by 65% since 2000 and setting a goal to achieve a more than an 80% reduction, and aspiring to be net-zero, by 2050,” said Nicholas K. Akins, AEP chairman, president and chief executive officer. “Through our commitment to transitioning to electric vehicles, we will cut tailpipe emissions, reduce operating costs, and encourage other companies that rely on large vehicle fleets to switch to battery or hybrid vehicles.”