American Electric Power (AEP) to accelerate its electric vehicle purchases to replace 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. By converting medium- and heavy-duty vehicles as electric or hybrid models, AEP will achieve its goal of electrifying 40% of its entire on-road vehicle fleet in less than ten years.
Nicholas K. Akins, Chairman, President and Chief Executive Officer, AEP said: “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. 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.”
AEP estimates that it will avoid using more than 10 million gallons of fuel, amounting to a $40 million savings in fuel costs over the life of the vehicles. Transitioning light-duty vehicles to EVs has been part of AEP’s fleet strategy and will now become the standard across its subsidiaries.
AEP’s fleet currently consists of 85 EVs, and employees can utilize 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. To encourage electrification the company has created programs such as incentives for charging station installations, off-peak charging programs, energy efficiency rebates and consultative services.
Additionally, AEP has partnered with ChargePoint to offer tailored evaluations for commercial and industrial customers considering electrifying their fleets. This partnership offers customers the opportunity to learn about available incentives, the latest in charging technologies, and how to ensure that the local utility grid is utilized efficiently. Fleet electrification offers many advantages but requires companies to evaluate their site, their local electric facilities and navigate a wide array of charging equipment options. This partnership helps streamline the information gathering and decision-making process for businesses interested in switching their fleets to EVs.