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NYPA $2 Million for EV Loans

December 24, 2013 in EVs, Hybrids, money available by Rich Piellisch  |  No Comments

Money Is Intended for Rural and Community-Owned Fleets

The New York Power Authority has approved an additional $2 million to help municipal and rural electric cooperative systems purchase electric-drive vehicles. More than 50 such organizations are eligible.

The New York Power Authority has approved an additional $2 million to help municipal and rural electric cooperative systems purchase electric-drive vehicles.

The New York Power Authority has approved an additional $2 million to help municipal and rural electric cooperative systems purchase electric-drive vehicles.

The financing will be offered under NYPA’s Municipal Electric-Drive Vehicle Program, which according to NYPA president and CEO Gil Quiniones, “presents an ideal opportunity for community-owned electric systems to become familiar with electric-drive vehicles, which are becoming more and more mainstream.”

“This initiative,” he said in a release, “provides an ideal way for participating electric systems to contribute to a cleaner environment without increasing the costs of doing business.”

Not a Giveaway

The NYPA program works by offsetting the additional purchase costs of clean-fueled vehicles with zero-interest financing. The funds are recovered over the course of three years – NYPA notes that it “uses no tax money or state credit.”

More than 50 municipal and rural electric cooperative organizations are eligible.

More than 50 municipal and rural electric cooperative organizations are eligible.

“We look forward to incorporating these new, clean vehicles into the fleets of the towns and villages we represent,” said New York Association of Public Power president Paul Pallas.

NYPA serves 47 municipal and four rural cooperative electric utility systems around the state, providing them with low-cost hydropower. The Municipal Electric-Drive Vehicle Program is one of an array of energy-efficiency services.

NYPA’s overall statewide Clean Transportation Program, including the Municipal Electric-Drive Vehicle Program, has placed more than 1,300 hybrid and all-electric vehicles. They have logged more than 11 million miles.

The New York State municipal and rural electric cooperative systems eligible for the new NYPA funding are the City of Jamestown, City of Plattsburgh, City of Salamanca, City of Sherrill, Delaware County Electric Cooperative Inc., Massena Electric Department, Oneida-Madison Electric Cooperative Inc., Otsego Electric Cooperative Inc., Steuben Rural Electric Cooperative Inc., Village of Akron, Village of Andover, Village of Angelica, Village of Arcade, Village of Bath, Village of Bergen, Village of Boonville, Village of Brocton, Village of Castile, Village of Churchville, Village of Endicott, Village of Fairport, Village of Frankfort, Village of Freeport, Village of Green Island, Village of Greene, Village of Greenport, Village of Groton, Village of Hamilton, Village of Holley, Village of Ilion, Village of Lake Placid, Village of Little Valley, Village of Marathon, Village of Mayville, Village of Mohawk, Village of Penn Yan, Village of Philadelphia, Village of Richmondville, Village of Rockville Centre, Village of Rouses Point, Village of Sherburne, Village of Silver Springs, Village of Skaneateles, Village of Solvay, Village of Spencerport, Village of Springville, Village of Theresa, Village of Tupper Lake, Village of Watkins Glen, Village of Wellsville, and the Village of Westfield.


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Source: New York Power Authority with Fleets & Fuels follow-up

 

Posted in EVs, Hybrids, money available and tagged , .

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