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Share Name | Share Symbol | Market | Type |
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PG&E Corporation | NYSE:PCG | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
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0.25 | 1.23% | 20.61 | 20.71 | 20.21 | 20.34 | 15,098,677 | 01:00:00 |
PG&E Helping Customers Transition to Electric Vehicles, Preparing the Grid & Advancing EV Technology to Support a Clean Energy Future
OAKLAND, Calif., Sept. 27, 2024 /PRNewswire/ -- In recognition of National Drive Electric Week (Sept. 27 - Oct. 6, 2024), Pacific Gas and Electric Company (PG&E) is highlighting the many ways it is helping to make electric vehicle (EV) ownership more affordable for customers. PG&E is also preparing the grid and increasing access to charging infrastructure, while partnering with the automotive industry to advance technology that will enable EVs to support California's clean energy future.
PG&E is prioritizing grid readiness and building grid capacity to accommodate new EV demand through a multiyear grid investment plan. The company is partnering with innovators across the EV industry to build the large-scale electric infrastructure needed to incorporate EV charging systems into the grid, including deploying chargers to support customers, planning to fund programs for underserved communities, and providing personalized solutions.
Residential Customer Programs and Incentives
PG&E's Pre-Owned EV Rebate Program provides income-qualified customers with up to $4,000 when buying or leasing a used EV. In just over a year-and-a-half since the program's launch, PG&E has distributed more than 6,900 rebate payments, and more than $60 million in funding is still available. The rebate will be available through 2026 or until funding runs out.
"We serve a diverse population and want to ensure all of our customers have the resources they need to make EV ownership an attainable goal," said Lydia Krefta, Director, Clean Energy Transportation for PG&E. "The Pre-Owned EV Rebate Program is a great resource that has already helped many of our underserved customers transition to electric vehicles, and we offer a number of other programs and incentives designed to help accelerate EV adoption for our residential and commercial customers."
PG&E offers a variety of tools, rebates and resources that are available to customers in multiple languages. Customers are invited to check out PG&E's EV Savings Calculator, an online resource to browse vehicles, discover incentives, locate charging stations and more. PG&E also offers an EV Rate Comparison tool to help customers find the best rate plan for them. Other programs/incentives include:
Programs for Businesses, Communities and Schools
This year, PG&E's EV Fleet Program helped to electrify the Oakland Unified School District's (OUSD) fleet of electric school busses, becoming the first major school district in the nation to deploy a fully electric fleet of busses. OUSD's EV bus fleet, converted to electric by Zum, is equipped with groundbreaking vehicle-to-grid technology that enables the buses to return energy to the grid at scale when not in use.
The EV Fleet Program, which is also partnering with the Angel Island-Tiberon Ferry Company to support the electrification of The Angel Island vessel, helps customers with medium- and heavy-duty vehicles in their fleets to install cost-effective charging infrastructure to save money, reduce tailpipe emissions and simplify maintenance.
In addition to working with businesses and schools to help them power up their existing and future EVs, PG&E is helping to expand public charging access throughout its service area.
Coming soon, PG&E will launch its fleet advisory services program aimed at providing comprehensive support to medium- and heavy-duty fleet operators to transition to electric vehicles.
Advancing EV Technology
Currently, one in eight electric vehicles in the nation plug into PG&E's grid, representing over 600,000 EVs with a combined battery storage capacity (6 GW) almost three times more than the Diablo Canyon Power Plant's generation capacity. That battery storage capacity will increase significantly as EV adoption grows in the decades ahead. PG&E is preparing the grid to quickly and safely power at least 3 million EVs by 2030, and is collaborating to pioneer technology that can harness clean energy from solar and wind generation to help power the electric grid and offset a portion of the 70% load growth projected over the next 20 years.
"EVs are front and center in California's exciting energy transformation. We are working closely with automakers and some of the world's top innovators to advance technology that will allow EV batteries to serve as a grid resource to support peak electricity demand periods and decarbonize the economy at the lowest societal cost," said Jason Glickman, PG&E Executive Vice President, Engineering, Planning & Strategy.
PG&E is collaborating with BMW of North America, Ford Motor Company and General Motors to test cutting-edge vehicle-grid-integration (VGI) applications, and is executing the nation's first large-scale bidirectional charging pilots which are testing multiple technologies to enable a wide range of services and study the cost-effectiveness of VGI. The bidirectional charging pilots offer upfront and ongoing participation-based incentives and provide higher upfront incentives to help reduce the affordability barrier for underserved communities.
Leading by Example
PG&E has committed to electrify its vehicle fleet in compliance with California's Advanced Clean Fleets regulation with the goal to electrify 3,800 vehicles in its fleet by 2030.
"This is an exciting transition and an outstanding opportunity for us to lead by example. New EVs in our fleet help us better serve our planet and provide significant cost savings for our customers over time," said Glickman.
Currently, approximately 11% of PG&E's fleet of roughly 9,200 on-road vehicles are powered by alternative fuels including electricity.
About PG&E
Pacific Gas and Electric Company, a subsidiary of PG&E Corporation (NYSE:PCG), is a combined natural gas and electric utility serving more than 16 million people across 70,000 square miles in Northern and Central California. For more information, visit www.pge.com/ and http://www.pge.com/about/newsroom/.
View original content to download multimedia:https://www.prnewswire.com/news-releases/evolving-clean-transportation-pge-celebrates-national-drive-electric-week-302261342.html
SOURCE Pacific Gas and Electric Company
Copyright 2024 PR Newswire
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