Finance - October 28, 2020
California CCAs plan $65M investment into EV infrastructure
The State of California will be receiving $65 million in contributions for the expansion of its electric vehicle infrastructure in the state.
Four Community Choice Aggregators (CCAs) from the Bay Area and Central Coast are contributing to the funding in support of the state’s target to eliminate the sale of new combustion engine passenger and light-duty vehicles by 2035. The CCAs involved are San José Clean Energy, Silicon Valley Clean Energy, Peninsula Clean Energy and Central Coast Community Energy.
“Together, our organizations are supporting the deployment of thousands of chargers in our communities which will transform the EV-infrastructure landscape across our region,” the four CCAs said in a joint statement. “We know that transportation – mainly cars and trucks on our roadways – is the biggest generator of California's climate change-inducing greenhouse gas emissions. To be serious about addressing emissions, we must aggressively build the charging infrastructure needed to support EVs in every community, across all income levels.”
The funds from the CCAs will increase the total investment in the state, combined with the California Electric Vehicle Infrastructure Project, to a total of $65 million. The majority of this funding is intended to go toward the installation of charging infrastructure.
Additionally, the Peninsula-Silicon Valley Incentive Project will bring $55 million into the region for charging infrastructure, which will get disbursed to each CCA service area based on need. The Central Coast will also benefit from a collective $9.2 million in funding through the Central Coast Incentive Project, which included $7 million for the Monterey Bay Region and $2.2 million for zero-emission school buses.