The New York Power Authority has provided US$8 million since 2003 for EV initiatives
The New York Power Authority has approved US$3 million in funding to continue a zero-interest loan programme that helps dozens of municipalities and rural electricity cooperatives purchase electric vehicles and battery charging equipment for their fleets.
The funding, approved January 30 by the NYPA Board of Trustees, builds on US$8 million dedicated since 2003 for the Authority’s Municipal and Rural Cooperative Electric Utilities Electric-Drive Vehicle Programme, which provides financial assistance to facilitate the replacement of less fuel-efficient vehicles.
The initiative supports Governor Andrew Cuomo’s goal to reduce greenhouse gas emissions in New York 40% by 2030 and make New York 100% carbon-neutral by 2040 as part of his Green New Deal.
“NYPA has created an effective programme that has successfully integrated dozens of electric vehicles and hybrids into municipal fleets,” said NYPA president and CEO Gil Quiniones. “This additional funding will allow us to continue these clean energy partnerships as part of our expanding effort to encourage EV use and lead infrastructure expansion across New York State.”
NYPA is continuing to play a pivotal role in moving the electric transportation sector forward. The US$250-million EVolve NY programme will address key barriers to EV expansion and look for private/public partnerships to develop EV infrastructure and services. Plans include installing fast-charging stations along key interstate corridors – with a target interval of every 30 miles – and in select urban hubs.
For the Electric-Drive Vehicle Programme, municipalities and rural electric cooperative utilities apply to the Power Authority for zero-interest financing to purchase passenger vehicles, pickup trucks, off-road specialty vehicles and heavy-duty utility bucket trucks. The vehicles are used by the utilities’ personnel and/or their affiliated municipal agencies to carry out their functions.
Municipalities benefit from zero-interest financing, reduced fuel costs and lower maintenance expenses, and can pass those savings on to ratepayers. The use of electric fleet vehicles also reduces greenhouse gas emissions and contributes to a safer work environment for electric utility staff due to diesel engine noise reduction.
The 47 municipalities and four rural electric cooperative utility systems that receive low-cost hydropower from NYPA are eligible to participate. The funds are recovered from participants over a period of up to three years through a surcharge to their electric bills.