With the Energy Commission’s support, the State Treasurer’s Electric Vehicle Charging Station Financing Program assists participating lenders with loan-loss protections to encourage banks to finance electric vehicle charging stations. The program also offers rebates to small business borrowers when they pay off their loans. The program supports conveniently located charging infrastructure at businesses and multiunit residential properties, which makes electric car ownership a more viable option for consumers.
The first-of-its-kind initiative responds to a 2012 executive order by Governor Edmund G. Brown Jr. that instructed state agencies to collaborate and develop sustainable financing for electric vehicle infrastructure.
The $11,000 loan made to Anza Electric Cooperative through the program helped install one dual-port Level 2 charging station at the cooperative’s headquarters. It is the only charging station within a 35-mile radius of Anza.
EV Charging Infrastructure
Anza, Riverside County