Consumers Energy: We Can Power 1 Million Electric Vehicles on Michigan Roads by 2030

Rhea-AI Summary

Consumers Energy has announced a commitment to support the operation of 1 million electric vehicles (EVs) in Michigan by 2030. This initiative aims to position Michigan as a leader in the transition to clean, zero-emissions vehicles, coinciding with the auto industry’s goal of having 50% EV sales by the same year. Currently, around 12,000 EVs are registered in the area served by Consumers Energy, with sales increasing by 20% annually. The company plans to establish over 200 fast-charging locations and will implement various rebate programs to enhance EV adoption.

Positive

• Commitment to power 1 million EVs by 2030, enhancing Michigan's EV landscape.
• Current EV sales growth at 20% annually, with future acceleration expected.
• Plans to create over 200 fast-charging locations and 2,000 chargers within three years.

Negative

• None.

JACKSON, Mich., Nov. 4, 2021 /PRNewswire/ -- Consumers Energy is taking its leadership of Michigan's electric vehicle transformation to another level, committing to powering 1 million electric vehicles by 2030. The goal would put Michigan – the birthplace of America's auto industry – in the driver's seat for the next generation of clean, zero-emissions vehicles and support the auto industry's goal to have electric vehicles be 50% of new sales by 2030.

"Consumers Energy is committed to Michigan's EV transformation, and all the road signs show an all-electric automotive future is moving closer to becoming a reality," said Lauren Youngdahl Snyder, Consumers Energy's vice president of customer experience. "Michigan is doing the right things when it comes to manufacturing EVs and making ownership convenient, and we're confident we can ensure our state is ready for this transformation."

Youngdahl Snyder said Consumers Energy is gearing up to support 1 million EVs in just the communities where it provides electricity, which means most of Michigan's Lower Peninsula excluding the Detroit area.

Today, there are about 12,000 registered EVs in Consumers Energy's territory, and electric vehicle sales already have been growing by 20% annually. That growth should accelerate due to commitments by U.S. automakers that EVs will make up half of vehicle sales by 2030. Michigan has joined other states in regional and nationwide networks to build fast EV charging, a major step to encourage potential EV buyers.

Youngdahl Snyder noted that more EVs also can lower electric rates for all customers as drivers charge during off-peak hours, typically overnight when there is less demand for electricity.

Consumers Energy's own actions are playing a significant role in EV growth:

• Over 1,000 rebates for home, business and public charging stations through its PowerMIDrive program. Those include 30 fast-charging locations that can fully power an EV battery in less than an hour.
• Plans to power the growing demand for EVs, with 200 fast-charging locations – and over 2,000 chargers at homes and businesses – across Michigan over the next three years.
• PowerMIFleet, which provides Michigan businesses with expertise and guidance to electrify their vehicle fleets, as well as rebates for charging locations.
• The new Bring Your Own Charger program, allowing EV owners to receive energy savings and monthly rebates for charging at night.

Nationally, there are more than 2 million electric vehicles on U.S. roads today, according to the Edison Electric Institute. That number should grow to 18.7 million by 2030, with EV sales expected to top 3.5 million per year.

"We have seen a phenomenal response by our Michigan friends and neighbors as we have celebrated new EV charging in communities from Flint to Kalamazoo, from Rogers City to Jackson," Youngdahl Snyder said. "Consumers Energy will continue to develop new, innovative ways to help our customers connect with EVs, and we have no doubt they will drive our state's electric vehicle future."

Consumers Energy is the principal subsidiary of CMS Energy (NYSE: CMS), providing natural gas and/or electricity to 6.8 million of the state's 10 million residents in all 68 Lower Peninsula counties.

For more information about Consumers Energy, go to ConsumersEnergy.com.

This news release contains "forward-looking statements." The forward-looking statements are subject to risks and uncertainties that could cause Consumers Energy's results to differ materially. All forward-looking statements should be considered in the context of the risk and other factors detailed from time to time in Consumers Energy's Securities and Exchange Commission filings.

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SOURCE Consumers Energy

FAQ

What is Consumers Energy's goal for electric vehicle support by 2030?

Consumers Energy aims to support the operation of 1 million electric vehicles in Michigan by 2030.

How many EVs are currently registered in Consumers Energy's service area?

There are approximately 12,000 registered electric vehicles in Consumers Energy's service area.

What are the plans for EV charging infrastructure in Michigan?

Consumers Energy plans to establish over 200 fast-charging locations and 2,000 chargers over the next three years.

What is the significance of 50% EV sales by 2030 for Consumers Energy?

The goal aligns with Consumers Energy's commitment to supporting a cleaner automotive future in Michigan.

How does the growth of EVs impact electric rates for Consumers Energy customers?

Increased EV adoption can lead to lower electric rates for customers by allowing charging during off-peak hours.