As New York State passes the 150,000 passenger electric vehicle (EV) milestone, NY State Gov. Kathy Hochul announces an additional $29 million to fund EV infrastructure and rebates.
According to New York State assembly member Didi Barrett, cost restraint and range anxiety are some of the biggest roadblocks to the state implementing and scaling its climate agenda, which calls for a clean energy transition that creates family sustaining jobs and fosters a green economy while directing 35 to 40% of clean energy investments to disadvantaged communities. However, Governor Hochul is actively working to change that.
The Governor recently announced a $29 million investment for EV Level 2 charging infrastructure to bolster Charge Ready NY’s 2.0 initiative and increase financing for the Drive Clean Rebate program.
The funds will be divided as follows:
- $15 million to further finance Charge Ready NY 2.0
- $12 million to increase financial incentives for eligible EV charging station installers
- $3 million allocated to finance workplaces and apartment buildings that host educational “ride and drive” community events buy EV fleets or provide free charging services
This means public private and not-for-profit organizations that install Level 2 EV charging stations at offices apartments or municipal and state government-owned buildings, may get between $2000 and $4000 per charging port and an additional $500 for those installed in a Disadvantaged Community (DAC).
Regarding rebates, landlords eligible business owners and government workers can add tax credits to their savings, resulting in installation reduction costs of up to 50% for charging stations where cars can get up to 25 miles of electric range for each hour they are plugged in.
Charge Ready NY 2.0 plans to accept rebate and financing applications from eligible EV charger vendors until funds run out – and consumers may also qualify for help.
New York’s Drive Clean Rebate program has an additional $14 million intended to reduce the costs of buying or leasing a new EV. The public can receive a point-of-sale rebate of $500 to $2000 when getting a new car if they choose one or more of the 60 models eligible through the state’s participating car dealerships like Advantage Hyundai, Atlantic Toyota and Beck Chevrolet Co., Inc.
NY State’s clean energy goals are to have a zero-emission electricity sector by 2040, 70% renewable energy generation by 2030 and economy-wide carbon neutrality by the middle of the century.
The state’s approach to achieving these goals by expanding access to EVs and charging infrastructure through financial incentives, especially in DAC’s, has been applauded by assembly members senators and stakeholders alike; a collaboration that’s been evident in NY State’s aggressive clean energy investments and ambitious zero-emission regulations.
The state has invested over $35 billion in 120 large renewable and transmission projects, $6.8 billion to reduce building emissions, $3.3 billion to scale solar, more than $1 billion for clean transportation initiatives, and over $2 billion in NY Green Bank commitments. Initiatives that helped fund over 165,000 clean energy jobs in 2021 and have contributed to a 3,000-plus percent growth in the state’s solar sector since 2011.
“Through solution-based investments in charging infrastructure and rebates, our green energy leadership is providing cleaner air – particularly in historically marginalized communities,” Hochul said. “This is an essential step to improving the state’s quality of life while building a more sustainable future for residents workers and visitors alike.”
