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Alternative Energy eMagazine Interviews Renewables 100 Policy Institute Founders.: Renewables 100 Policy Institute
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Alternative Energy eMagazine Interviews Renewables 100 Policy Institute Founders.

Financing California's Electric Vehicle Future

How did the subject of the report - that is, the workshop on PEV financing strategies for California - come about?

In March 2012,  Governor Brown signed an Executive Order laying the foundation for 1.5 million zero-emissions vehicles to be on California's roads by 2025. The Governor's office has been establishing a roadmap to achieve the mandate's goals, which by the end of 2012, was still needing work on the financing piece. Questions needing further attention included what financing mechanisms could help bring the manufacture of zero-emissions vehicles, components, and requisite infrastructure, currently in their commercial infancy, into full market maturity? And how can innovative and effective financing help overcome hurdles like high upfront costs and lack of widely available charging infrastructure?

The Renewables 100 Policy Institute had been facilitating a dialogue about clean energy financing with the Governor's office, other state policymakers, and financial experts for some time. From those conversations came the idea to go directly to the state's finance experts and ask them to come up with their best creative models to advance the state's plug-in electric vehicles (PEV) targets. It was decided that the best first step would be a "roll-up your sleeves" workshop to generate ideas with potential to make a big difference in the state, and ideally,  even nationally and globally.

 

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