Xcel EV Charging Program: Get Up to $5 Million for EV Charging in Colorado

Properties where drivers frequently come and go — like hotels, hospitals, and multifamily apartment buildings — are great candidates for electric vehicle charging stations. Seen as a premium amenity, chargers can attract patrons who drive EVs as well as retain eco-conscious employees.  

That being said, equipment and implementation costs can feel prohibitive at first glance. Colorado businesses and public entities within the Xcel Energy service area can significantly reduce these costs through EV charging rebates up to $5 million per applicant. Here's more about the program.

About Xcel's Commercial EV Infrastructure Rebate Program

The program is designed to encourage the adoption of zero-emission vehicles by incentivizing Xcel Energy customers to build EV charging stations. The first round of funding took place earlier this year, and now a second round is open and accepting applications through July 31.

The awards are substantial, with up to $1 million offered per site and up to $5 million offered per applicant with multiple sites. This makes the program a great fit for large properties like hotels, casinos, medical facilities like hospitals, and multifamily housing developments. Interested parties shouldn’t delay applying, as funds are awarded on a first-come, first-served basis.

You can get more details on the Xcel program website, but let's run through some of the key information here.

Eligibility Requirements

Project Eligibility

Commercial Level 2 charging projects and DC Fast Charging (DCFC) projects are both eligible for funding under the Xcel program, with some restrictions. Multifamily dwellings — such as apartment buildings, condos, and mixed-use properties — can receive enhanced funding, but only if certain income qualifications are met.

There are also infrastructure rebates for newly constructed buildings with parking spaces that will be EV-capable or EV-ready. Nonprofits are also eligible if enrolled in Xcel's Nonprofit Energy Efficiency Program.

Equipment Eligibility

Eligible equipment includes electric vehicle supply equipment (EVSE), such as the chargers themselves, in addition to upgrades to electric vehicle supply infrastructure (EVSI) like wiring, meter cabinets, and electrical panels in order to support the extra electricity load.  

Some project categories, like multifamily units and nonprofits, may be eligible to receive funds for additional protective equipment like wheel stops and protective bollards.

Funding Structure

The program covers 100% of eligible hardware and software costs, as well as one-time maintenance and warranty costs. And you don't have to choose between EVSE and EVSI rebates, as it's possible to apply for both. Funds are awarded per EV charging port, with additional funds available if the project is located in a disproportionately impacted community (DIC), as defined by the program. See the table below for a more detailed breakdown.

EVSI Rebate

EVSE Rebate

PowerFlex Helps You Secure Xcel Funds

PowerFlex doesn't leave you to find your own funding streams. We've helped customers secure more than $10 million in Xcel rebates this year, and have secured more than $40 million in similar incentives throughout the country. Our incentive specialists are experts on state and federal programs and work carefully with customers to secure the funding that makes the most sense for their needs.

This hands-on, consultative approach is part of why we're trusted by customers like Kaiser Permanente, Alexandria Real Estate Equities, Sycuan Resort & Casino, and the counties of Santa Barbara and Los Angeles.  

And our work doesn't stop with the incentive process; we manage more than 40,000 chargers nationwide boasting 97% equipment uptime — ensuring you can meet the requirements of your incentives while also keeping drivers happy.  

Ready to connect with our incentive experts? Talk with our team today to learn more about the Xcel program and how to apply.