Deadline Extended on Program Offering Free EV Charging Stations to Commercial Properties Using C-PACE Financing for Efficiency Projects

Charge Up CT Buildings campaign pairs growing EV demand with need for property efficiency

Rocky Hill, Conn. (December 16, 2020) – The Connecticut Green Bank announces a deadline extension on its Charge Up CT Buildings program, an initiative that offers free electric vehicle (EV) charging stations to commercial property owners who use Connecticut Green Bank C-PACE financing. The new deadline is April 30, 2021. Originally launched in January 2020, the initiative was put on hold in March due to COVID-19 restrictions and restarted in September.  With dozens of inquiries already submitted, the Green Bank anticipates many other property owners will express interest in the coming months.

C-PACE (Commercial Property Assessed Clean Energy) is an innovative financing tool that provides building owners with access to 100% financing for energy improvements, realize positive cash flow immediately, and create more comfortable, efficient buildings. C-PACE can also support building owners in reducing operating expenses and increasing cash flow, providing a vital lifeline to help businesses get through tough economic times. Plus, the Green Bank is currently offering flexible payment options for new borrowers that let them choose to defer or pay interest-only on initial payments, offering borrowers ways to improve their building and save energy while freeing up cash and receiving immediate financial relief.

The addition of free EV charging equipment means property owners leveraging C-PACE won’t just be using the clean energy financing mechanism as a tool to improve their financial position in the near term, but also to modernize their buildings and position them more competitively in the future. Whether building tenants are commercial or residential, as the EV market continues to grow, properties with charging stations can lead the way.

To qualify for a free EV charging station, energy saving projects must utilize at least $150,000 in Green Bank C-PACE financing with at least 20% of the total project costs going toward non-renewable measures. Larger projects may be eligible to receive up to three electric vehicle charging stations. Connecticut Green Bank’s C-PACE team will work with building owners to determine if their project is eligible for the C-PACE program and Charge Up CT Buildings incentive. 

For more information about the initiative, please visit https://chargeupctbuildings.com/  or call 866-324-0099.

Connecticut Green Bank and Its EV Charging Partners Register the First Validated Multi-Partner Carbon Offset Credit Project

Project Paves Way for More EV Charging Stations and Partners Across the U.S.

HARTFORD, CONN. (December 9, 2020) — Connecticut Green Bank (“Green Bank”) and its partners are proud to announce a unique collaboration that is the first joinable, grouped carbon offset credit project registered under the new methodology for electric vehicle (EV) charging systems. The project design has been successfully validated under Verra’s internationally recognized Verified Carbon Standard (VCS) Program by third-party verification firm, SCS Global Services. 

CT Green Bank’s expanding roster of project partners, which currently includes EV pioneers Volta, U-Go Stations which was recently acquired by Blink Charging, Proterra, and the Ev Structure Company – with Dominion Energy joining – already have 725 EV charging stations across the United States enrolled with the project. With registered carbon credits, this validated project, once verified in mid-2021, is expected to bring in new funding from the carbon capital markets, which will increase the value proposition and accelerate the deployment of EV charging infrastructure in communities across the U.S.

“This is a partnership between innovators who are each working to secure a safer and healthier future for the communities they serve by addressing a key challenge in mitigating climate change – deploying charging infrastructure for electric vehicles,” said Bert Hunter, CT Green Bank Executive Vice President and Chief Investment Officer. “We’re proud to debut this project as a scalable climate finance solution that – like the Green Bank itself – sources investment capital from private markets.”

These partners span sectors from electricity-powered transit buses to public destination charging stations and infrastructure, providing reliability for EV drivers.

  • Volta designs, builds and operates extensive networks of free charging, located in the most convenient, most utilized, high traffic locations.
  • Blink Charging (Nasdaq: BLNK) is a leading owner and operator of EV charging solutions. Blink recently acquired U-Go Stations who pioneered early high-speed EV charger deployments.
  • Proterra is a leading U.S. manufacturer of electric buses and technology provider for commercial electric vehicles.
  • EvStructure was among the earliest integrated services companies to install EV charging, and most recently introduced the first charging network to the largest Harley-Davison outlet in Utah.

Additional sites will be added over time throughout the project, and diverse new partners are already seeking to join the project to secure access to the carbon capital markets for their EV charging systems and take advantage of the Green Bank’s unique value proposition as a way for projects to scale up over time and reduce transaction costs.

Jeff Allen of Forth, a non-profit dedicated to accelerating e-mobility, said, “We congratulate the Connecticut Green Bank and its partners and look forward to working with them to help other businesses and organizations take advantage of this innovative financing strategy.” 

“In addition to reducing our own emissions, Dominion Energy is committed to helping accelerate greenhouse gas reductions in other industries like transportation,” said Mark Webb, Chief Innovation Officer, Dominion Energy. “As we continue to invest in the electrification of transportation through programs like workplace charging, our electric school bus program, a greener fleet, and other EV incentives, this partnership will allow us to take concrete steps to quantify those carbon reductions.”

In this first example of an EV charger carbon offset credit multi-partner project, Green Bank partners may enroll their selected EV chargers to create carbon credits from their EV charger datasets, which opens private carbon capital as a new source of investment for EV charging. The result is a performance-based system where EV chargers earn funds based upon the amount of electricity dispensed to vehicles, factoring in the carbon intensity of the electricity used.

The Green Bank was among a coalition of companies collectively awarded an Innovative Partnership Certificate for methodology development at the 2019 Climate Leadership Conference, hosted by C2ES and The Carbon Registry. “We welcome this innovative new partnership and the first-of-its-kind electric vehicle carbon emissions offset program,” says Bob Perciasepe, President of C2ES. “Expanding charging infrastructure and incentivizing increased uptake of electric vehicles is essential for decarbonizing our economy by 2050. We look forward to seeing new private capital through this program and hope this partnership will inspire others to join the collaborative project in the future.”


Quotes from Partners:

“EV charging should be a natural experience, not a chore. Volta’s free charging network goes where people work, shop, and play. This breakthrough with voluntary carbon credits adds even more value to the equation, which in turn supports the availability and deployment of free charging. We look forward to working with Connecticut Green Bank.” – Dr. Abdellah Cherkaoui, Senior VP of Government, Automotive & Utilities, Volta

“Transitioning to zero-emission transportation means cleaner air and healthier communities. As fleet operators embrace electric vehicles and reduce their carbon emissions, it’s also an opportunity to create even more financial value. By offering carbon credits for the voluntary purchase market, we look forward to working with the Green Bank to enhance the value proposition for our customers.” – Gareth Joyce, President, Proterra Powered and Energy

“Blink has been a pioneer among national charging networks. With our recent acquisition of U-Go Stations, we are pleased to continue U-Go’s partnership for its charging stations with the Green Bank, and examine the expansion opportunities this opens up for the rest of our network.” – Brendan Jones, Chief Operating Officer, Blink Charging

“Being in the business means knowing how to spot opportunities, and this innovative project is a game-changer. As a company’s that’s been among the earliest in EV charging in the US, EvStructure is proud to call itself a founding partner. We look forward to finding new ways to integrate this into our core business, and potentially into others’ businesses.” – Todd Ritter, President, EvStructure

“Congratulations to Connecticut Green Bank and its partners on achieving the first-ever grouped project validation in the EV arena. They have demonstrated a reduction of CO2 emissions compared to the baseline case of fueling and driving gasoline-powered vehicles under the new VM0038, Methodology for Electric Vehicle Charging Systems v1.0, and we celebrate their innovation of collaborating as a grouped project.” – Dr. Letty B. Brown, program manager of GHG verification, SCS Global Services

“It’s great to see the successful registration of the first grouped Electric Vehicle (EV) charging station project that can generate carbon credits under the VCS Program. The transportation sector is a huge source of GHG emissions and this project is an important step towards providing climate finance for the underlying infrastructure needed to get more EVs on the road, and thus achieving emission reductions at scale.” – David Antonioli, CEO of Verra

“Since Electrify America created the first ever project to use the Verified Carbon Standard methodology for EV charging, we couldn’t be happier to welcome the arrival of this second project.  Connecticut Green Bank’s aggregation model provides a nice platform for other companies with charging assets to enjoy the financial benefits of their investments without the legwork of applying for their own projects.” – Wayne Killen, Director of Infrastructure Planning & Business Development, Electrify America


Program Contact:

Matt Macunas, Legislative Liaison & Associate Director of Transportation Initiatives, Connecticut Green Bank, Matt.Macunas@ctgreenbank.com

Media Contacts:

Justin May, Gaffney Bennett Public Relations, jmay@gbpr.com

Rudy Sturk, Sr. Manager of Marketing Innovation, Connecticut Green Bank, Rudy.Sturk@ctgreenbank.com


About Connecticut Green Bank

The Connecticut Green Bank was established by the Connecticut General Assembly in 2011 as the nation’s first green bank. The Green Bank’s mission is to confront climate change and provide all of society a healthier, more prosperous future by increasing and accelerating the flow of private capital into markets that energize the green economy. This is accomplished by leveraging limited public resources to scale-up and mobilize private capital investment into Connecticut. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com


About SCS Global Services
SCS Global Services is a global leader in third-party environmental and sustainability verification, certification, auditing, testing, and standards development. Its programs span a cross-section of industries, recognizing achievements in climate mitigation, green building, product manufacturing, food and agriculture, forestry, consumer products, and more. Headquartered in Emeryville, California, SCS has representatives and affiliate offices throughout the Americas, Asia/Pacific, Europe and Africa. Its broad network of auditors are experts in their fields, and the company is a trusted partner to companies, agencies and advocacy organizations due to its dedication to quality and professionalism. SCS is a chartered Benefit Corporation, reflecting its commitment to socially and environmentally responsible business practices. For more information visit www.scsglobalservices.com and learn more about carbon offset verification at https://www.scsglobalservices.com/services/carbon-offset-verification.

Contact:  Nikki Helms, Marketing Project Manager, nhelms@scsglobalservices.com,   (510) 295-0667


About Verra

Verra is a global leader helping to tackle the world’s most intractable environmental and social challenges by developing and managing standards that help the private sector, countries, and civil society achieve ambitious sustainable development and climate action goals. 

Verra develops and manages standards that help the private sector, countries, and civil society achieve ambitious sustainable development and climate action goals. Verra’s global standards frameworks serve as linchpins for channeling finance towards high-impact activities that tackle some of the most pressing environmental issues of our day.

For more information about Verra visit www.verra.org and for more information about the Verified Carbon Standard Program go to https://verra.org/project/vcs-program/

Contact:  Anne Thiel, Communications Manager,  athiel@verra.org, (202) 470-5664


About Volta

For over a decade, Volta has been building a nationwide electric vehicle charging network to drive the world forward. Named after Alessandro Volta, the inventor of the electric battery, Volta’s award-winning charging stations benefit brands, consumers, and real-estate locations by providing valuable advertising space to businesses and free charging to drivers. Strategically located in places where consumers already spend their time and money, Volta is creating the sustainable fueling network of the 21st century. Headquartered in San Francisco, Volta chargers are currently the most utilized electric vehicle charging stations in the United States. To learn more, visit voltacharging.com.


About Ugo Stations / Blink Charging

On November 20, 2020 U-Go Stations announced its acquisition by Blink Charging and the transition of their EV charging assets into the Blink portfolio and network.  Blink Charging Co. (Nasdaq: BLNK) is a leader in electric vehicle (EV) charging equipment and has deployed more than 23,000 charging stations, many of which are networked EV charging stations, enabling EV drivers to easily charge at any of the Company’s charging locations worldwide. Blink Charging’s principal line of products and services include its Blink EV charging network (“Blink Network”), EV charging equipment, and EV charging services.

Contact:  Rebecca Gutierrez, Blink Charging VP of Marketing, rgutierrez@blinkcharging.com, (305) 521-0200 x209


About Proterra

Proterra is a leader in the design and manufacture of zero-emission electric transit vehicles and Proterra Powered electric vehicle technology solutions for heavy-duty applications. Since 2004, Proterra technology has been proven through more than 14 million miles on the road in purpose-built electric transit buses. As major cities are converting to 100% electric fleets, Proterra vehicles have become the most popular electric buses on the road in North America. Proterra has sold more than 1,000 electric buses to 125 communities across 43 U.S. states and Canadian provinces, with more than 10 years of deliveries.

Contact:  Shane Levy, Corporate Communications, slevy@proterra.com, (201) 679-9507


About the Ev Structure Company

EvStructure was among the earliest integrated service companies to install the very first public fleet level 2 non-networked EV charging stations, in 1998, for the cities of Pasadena and Santa Monica for the Toyota RAV4 electric city fleet pilot program. In 2008, EvStructure installed charging for Los Angeles Police Department – the largest to use EVs. Most recently EvStructure introduced the first charging network to the largest Harley-Davison dealership in Utah. 


About Dominion Energy
More than 7 million customers in 16 states energize their homes and businesses with electricity or natural gas from Dominion Energy (NYSE: D), headquartered in Richmond, Va. The company is committed to sustainable, reliable, affordable and safe energy and to achieving net zero carbon dioxide and methane emissions from its power generation and gas infrastructure operations by 2050. Please visit DominionEnergy.com to learn more.

Contact: Samantha Moore, samantha.q.moore@dominionenergy.com, (804) 771-6115


About Electrify America
Electrify America LLC, the largest open DC fast charging network in the U.S., is investing $2 billion over 10 years in Zero Emission Vehicle (ZEV) infrastructure, education and access. The investment will enable millions of Americans to discover the benefits of electric driving and support the build-out of a nationwide network of workplace, community and highway chargers that are convenient and reliable. Electrify America expects to install or have under development approximately 800 total charging stations with about 3,500 DC fast chargers by December 2021. During this period, the company will be expanding to 29 metros and 45 states, including two cross-country routes, delivering on its commitment to support increased ZEV adoption with a network that is comprehensive, technologically advanced and customer friendly. Electrify America’s Electrify Home® offers home charging solutions for consumers with flexible installation options. Electrify Commercial® provides expert solutions for businesses looking to develop electric vehicle charging programs. For more information, visit www.electrifyamerica.com and media.electrifyamerica.com.

Contact: Mike Moran, Mike.Moran@electrifyamerica.com, (703) 872-7936


About Forth

Forth is a nonprofit organization advancing electric, shared and smart transportation through innovation, demonstration, advocacy, and engagement. For more information, visit www.forthmobility.org.

Contact: Kevin Friedman, kevinf@forthmobility.org, (503) 381-4085


About C2ES

The Center for Climate and Energy Solutions (C2ES) is an independent, nonpartisan, nonprofit organization working to forge practical solutions to climate change. Its mission is to advance strong policy and action to reduce greenhouse gas emissions, promote clean energy, and strengthen resilience to climate impacts. Learn more at www.c2es.org.

Contact:  press@c2es.org (703) 516-4146

Free EV Charging Stations for Commercial Properties Financing Efficiency Projects through C-PACE

Charge Up CT Buildings campaign pairs growing EV demand with need for property efficiency

 Rocky Hill, Conn. (September 15, 2020) – The Connecticut Green Bank is pleased to announce the relaunch of its Charge Up CT Buildings program, an initiative originally launched in January that offers free electric vehicle (EV) charging stations to commercial property owners who use Connecticut Green Bank C-PACE financing . The initiative was put on hold in March due to COVID-19 restrictions.

C-PACE (Commercial Property Assessed Clean Energy) is an innovative financing tool that provides building owners with access to 100% financing for energy improvements, realize positive cash flow immediately, and create more comfortable, efficient buildings. C-PACE can also support building owners in reducing operating expenses and increasing cash flow, providing a vital lifeline to help businesses get through tough economic times. Plus, the Green Bank is currently offering flexible payment options for new borrowers that let them choose to defer or pay interest-only on initial payments, offering borrowers ways to improve their building and save energy while freeing up cash and receiving immediate financial relief.

“The Green Bank is enabling building owners to take control of their energy costs and save money by using C-PACE, which could provide many borrowers the breathing room they need while the economy recovers and things get back to ‘normal,’” said Mackey Dykes, Vice President, Financing Programs at Connecticut Green Bank. “But with C-PACE and Charge Up CT Buildings, we’re also helping borrowers to position their properties and businesses – and our community – for future success, and a better, new ‘normal.’ Borrowers will not only make their buildings more modern and attractive, but their customers, tenants, and employees will be able to charge up and enjoy the benefits of electric vehicles.”

The addition of free EV charging equipment means property owners leveraging C-PACE won’t just be using the clean energy financing mechanism as a tool to improve their financial position in the near term, but also to modernize their buildings and position them more competitively in the future. Whether building tenants are commercial or residential, as the EV market continues to grow, properties with charging stations can lead the way.

To qualify for a free EV charging station, energy saving projects must utilize at least $150,000 in Green Bank C-PACE financing with at least 20% of the total project costs going toward non-renewable measures. Larger projects may be eligible to receive up to three electric vehicle charging stations. Connecticut Green Bank’s C-PACE team will work with building owners to determine if their project is eligible for the C-PACE program and Charge Up CT Buildings incentive. 

Property owners will now have until December 18, 2020 to apply for C-PACE financing in order to be eligible for this limited time promotion. Property owners are encouraged to contact the Green Bank early to start the application process.

For more information about the initiative, please visit chargeupct.com or call 866-324-0099.

Solar For All Benefits the Poor

Note: On August 13, 2020, the Hartford Courant ran a Letter to the Editor submitted by Connecticut Green Bank CEO and President Bryan Garcia. The published letter was a shortened version (to fit the Courant’s guidelines); the full version of the letter is below.  


By Bryan Garcia, President and CEO of the Connecticut Green Bank

Paul Steidler’s July 26, 2020 article “Rush to Renewable Energy Hurts Poor” tries to make the point that America’s expanded use of natural gas will not only benefit our economy and the environment, but also help those who are less fortunate.  He notes that renewable energy is among the reasons why residential electricity is 66% more expensive in New England than the rest of the country.

In Connecticut, low-to-moderate income families and communities of color are reducing the burden of their energy costs not by consuming more natural gas, but by installing solar on their rooftops and making their homes more energy efficient. The energy affordability gap for our most vulnerable citizens is about $1,400 per year, which means that the poor are paying more for energy in our state than what is affordable.  Through state efforts in partnership with the private sector, it is solar power and energy efficiency that are reducing that affordability gap by nearly $1,100 per year not natural gas.  Our state is a “parity state” when it comes to income and “beyond parity state” when it comes to race in terms of solar deployment – meaning the poor and communities of color are demanding solar power and energy efficiency more than those with means and who are White.

Nearly a year ago to the day, Hartford experienced some of the hottest weather on record.  The weather was so hot and humid that state officials warned people about two problems – excessive heat and bad air.  This resulted in higher air conditioning usage stressing the electricity grid, resulting in ISO-NE calling upon higher-cost and higher-polluting power that came from fossil fuels.  These fossil fuel power plants emit pollutants that react with sunlight to create smog which contributes to poor air quality and is harmful to public health.  At the same time, across the Constitution State, there were nearly 28,000 homes powered by the sun that were providing 230 MW of power output during peak times. This reduced $3 million of peak demand costs which lowered energy costs for all electric ratepayers. It also removed the need for more power generation from burning fossil fuels thereby cleaning the air we all breathe.

Air pollution is not good for our public health – and it is especially detrimental when you have a disease that targets the respiratory system such as COVID-19.  We are seeing more clearly today than ever before, how pollution from fossil fuel resources creates a disproportionate share of the negative environmental impacts on the public health within communities of color.  Call it environmental justice or climate justice, natural gas and its infrastructure aren’t good for the poor! 

Right now, Connecticut is in the process of modernizing and decarbonizing its antiquated energy system into a 21st century clean energy platform that will continue to enable the growth of our green economy.  By combining renewable energy resources like the sun, with energy efficiency, battery storage, and demand response, we are working towards a zero-carbon electricity grid that will fuel zero emission vehicles for our roads and power carbon-free renewable heating and cooling systems for our homes.

During this pandemic, we are all experiencing tough economic times, but everyone can be part of the solution. Schedule a home energy audit (no-cost). Insulate your home to make it more energy efficient (rebates up to 100 percent available). Install solar on your roof (it’s affordable).  Solar for all, benefits all of us, especially the poor!

Free EV Charging Stations for Commercial Properties Financing Efficiency Projects through C-PACE

Charge Up CT Buildings campaign pairs growing EV demand with need for property efficiency

Rocky Hill, Conn. (Jan. 14, 2020) – The Connecticut Green Bank is pleased to launch Charge Up CT Buildings, a new initiative that offers free electric vehicle charging stations to commercial property owners who use Connecticut Green Bank C-PACE financing to improve the energy efficiency of their building. Property owners who apply for C-PACE financing by May 15, 2020 may be eligible for this limited time promotion. Property owners are encouraged to contact the Green Bank early to start the application process.

C-PACE (Commercial Property Assessed Clean Energy) is an innovative financing tool that allows building owners to access 100% financing for energy improvements, realize positive cash flow immediately, and create more comfortable, efficient buildings. Hundreds of property owners across Connecticut have already taken advantage of C-PACE to finance energy-saving upgrades and Charge Up CT Buildings offers another incentive to attract new property owners to learn about the benefits of C-PACE.

A broad range of properties can benefit from this initiative, including retail spaces, nonprofit organizations, houses of worship, recreational facilities, restaurants, manufacturers, hotels, and other non-residential properties. C-PACE addresses the needs of businesses of all sizes – from owner-occupied buildings to portfolio real estate owners like Spinnaker Real Estate Partners, who the Green Bank recently profiled.

Through Charge Up CT Buildings, building owners will not only make their buildings more modern and attractive, but their customers, tenants, and employees will be able to charge up and enjoy the benefits of electric vehicles. An EV charging station can help owners and businesses to distinguish their property from others, showing leadership and commitment to sustainability.

The number of electric vehicles on the road in Connecticut continues to grow year-over-year. With over 13,000 electric vehicles registered to date, and a projected 125,000 to 150,000 vehicles by 2025, there is growing demand for more electric vehicle charging infrastructure. This creates an opportunity for property owners to offer their customers or employees EV recharging as an additional amenity.

“Connecticut Green Bank is committed to promoting the growth of electric vehicles in Connecticut, and that includes supporting the development of a more resilient EV charging infrastructure that is suited to handle increasing demand” said Bryan Garcia, President and CEO of Connecticut Green Bank. “We see this initiative as having many benefits to building owners, tenants, employees and customers – as well as to our communities. Property owners who choose to host electric vehicle charging stations are not only doing something positive to promote and grow their businesses, they’re also doing something positive for Connecticut and playing an important role in building a cleaner, greener and more prosperous future where our state has a robust electric vehicle charging infrastructure and where we are all less reliant on fossil fuels.”

To qualify for a free EV charging station, energy saving projects must utilize at $150,000 in Green Bank C-PACE financing with at least 20% of the total project costs going toward non-renewable measures. Larger projects may be eligible to receive up to three electric vehicle charging stations. Connecticut Green Bank’s C-PACE team will work with building owners to determine if their project is eligible for the C-PACE program and Charge Up CT Buildings incentive.

“This initiative simultaneously addresses two of the state’s largest contributors to greenhouse gas emissions: transportation and commercial/industrial properties,” said Mackey Dykes, Vice President, Financing Programs at Connecticut Green Bank. “Through Charge Up CT Buildings, the Green Bank is re-investing in the buildings of property owners who use C-PACE financing. The cost of the EV charging stations offered through this initiative will be offset by future interest income generated by the C-PACE financing – and by repurposing this future income into an electric vehicle charging station, these properties will create an even bigger impact on reducing emissions. Not only is the Green Bank enabling building owners to take control of their energy costs and save money, we’re also helping them to position their business and our community for future success.”

Building owners are invited to an open house about Charge Up CT Buildings on Wednesday, March 25 at J Roos, 243 State Street, North Haven. Pre-registration is required at the following link: https://www.eventbrite.com/e/charge-up-ct-building-owner-open-house-tickets-86918556743?aff=PR

For more information about the initiative, please visit chargeupct.com or call 866-324-0099.

Coalition Announces New Funding Source for Electric Vehicle Charging From Carbon Credit Markets

New Methodology Will Increase Infrastructure Revenues and Encourage Further Investment to Address a Key Barrier to EV Adoption — Lack of Charging Stations

Portland, OR (Sept. 18, 2018) — A coalition of electric vehicle (EV) stakeholders has developed an innovative pathway to use the carbon credit markets to improve EV charging infrastructure revenues and thus help support continued EV sales growth.

The new method, pioneered by the Electric Vehicle Charging Carbon Coalition (EVCCC), provides a blueprint to certify the reduction in greenhouse gas (GHG) emissions that result when EVs are powered by electric vehicle charging stations compared with conventional vehicles and fossil fuels. These reductions translate into carbon credits that can be sold to help improve current EV infrastructure revenues and make future investments more attractive.

The EVCCC founding members include the Carbon Neutral Cities Alliance (CNCA), Connecticut Green Bank, Electrify America, EVgo, Exelon, and Siemens. Leading the project is the Climate Neutral Business Network (CNBN) which developed the methodology with the EVCCC and the voluntary carbon market’s leading third-party certifier, the Verified Carbon Standard (VCS) program, managed by Verra.

EV charging stations represent the “fueling stations of the 21st century” as EVs grow in popularity and more EV models with longer ranges are introduced in the coming years. Not only is more widely available infrastructure needed to power these EVs outside of the home – where the majority of charging is typically done overnight — but faster charging technology reduces the time drivers wait for their vehicles to charge.

The EVCCC was formed to open up access to the carbon credit markets for EV charging systems – specifically to strengthen the business case fundamentals and thus accelerate deployment potential. In the early stages of market development for any new infrastructure investment, securing new sources of capital helps accelerate critical mass and scale. New sources of capital are vital contributors to the success of U.S. clean tech innovation, but as experts at MIT have pointed out, compared to IT software and medical sectors, “clean tech clearly does not fit the risk, return or time profiles of traditional venture capital investors… As a result, the sector requires a more diverse set of actors and innovation models…or, in other words, more ‘patient capital’.”  EV charging systems’ access to carbon credit markets represents an innovative, new source of such “patient capital.”

Sue Hall, founder and CEO of CNBN, explains “one of the original motivations for this project was to compensate for the higher costs of deploying and operating EV charging infrastructure. The new carbon credit revenues — which are expected to yield an estimated 5 percent to 10 percent return on capital — make these deployments more financially sustainable.”

Here’s how it will work: 1) EV charging systems will charge electric cars, reducing CO2; 2) the eligible EV charging operator receives certified carbon credits based on this action; 3) those credits can then be sold to a voluntary credit purchaser such as a company, government, or other entity that is looking to go carbon neutral (e.g., cities, university campuses, utilities, and individuals), which in turn creates new capital to help companies fund more EV infrastructure. 

The carbon credits available through this new voluntary capital market can only be issued once independently certified by Verra’s VCS Program, including assessments by its qualified third-party validation and verification body.  This provides the credible assurance needed for buyers to have credit purchase confidence.

“Verra’s approval of this VCS carbon offset methodology provides another arrow in the quiver to reduce greenhouse gas emissions and confront climate change,” states Bryan Garcia, President and CEO of the Connecticut Green Bank. “By valuing emission reductions we can increase private investment in EV infrastructure, which in turn will help increase consumer demand for EVs. By seeing more EV infrastructure, consumers will understand that EVs come with easy access to cheaper and cleaner fuel.”  

In Connecticut, the Green Bank is evaluating a plan to create a revenue stream for owners of EV infrastructure; owners should register their equipment now. 

The newly developed Methodology for Electric Vehicle Charging Systems represents the culmination of nearly two years of collaboration that began with a carbon business case and concept paper.  In a detailed report, the methodology provides the instructions and formulas for EV infrastructure operators and investors to develop precise project design descriptions. Projects whose descriptions are in accordance with VCS methodology requirements can become eligible to generate carbon credits after they are validated and verified. 

Specifically, the methodology details how measurement of electricity (in kilowatt hours) dispensed at EV chargers corresponds to a net reduction of carbon emissions compared to equivalent fossil fueled vehicles in the light, medium and heavy-duty sectors, while it also adjusts for the carbon content of localized electricity as well as project emissions consumed by the EV charging equipment to provide charging services.

The resulting carbon credits create a new choice for a growing market of buyers seeking to offset their GHG emissions via transportation-focused investments and complements existing carbon offset sources like sustainable forestry management or methane gas reduction from landfills.

“Cities everywhere desperately need more EV fast charging. There’s not enough to make a road-trip across this country or any country easy. This investment grows the options for everyday EV drivers, making electric charging simple and more efficient for everyone. Any business needing a new carbon offset should jump on board. This will be a game-changer for carbon markets, and a crowd-pleaser for EV drivers everywhere” said Jessie Denver, Energy Program Manager with the City and County of San Francisco’s Department of the Environment, a member of CNCA.

Wayne Killen, Director for Charging Infrastructure Planning and Business Development at Electrify America, agrees: “There is an acute lack of charging infrastructure, especially more costly DC fast charging, in convenient public locations.  More comprehensive and faster EV charging infrastructure have both been identified as key reasons drivers avoid EVs, according to several surveys, including Strategic Vision’s New Vehicle Experience Survey. “

“EVgo has already built out the nation’s largest public fast charging network in the U.S., with more than 1,000 DC fast chargers across the country,” said Jonathan Levy, Vice President of Strategic Initiatives at EVgo.  “We recognize the need to expand and accelerate the growth of public charging infrastructure to enable the deployment of electric vehicles, which is why EVgo supports innovative approaches like this that reduce the costs of building more DC fast charging infrastructure.” 

Suzanna Mora, Director of Utility Initiatives at Exelon, adds “as the nation’s largest utility company, we know that our customers want clean energy and new tools to help them reduce their carbon emissions.  This new initiative will support our efforts to invest in EV charging infrastructure and make it easier and faster for our customers to adopt cleaner transportation options.”

Carbon credits from this new source will be available for sale in 2019 when the first inventories from Exelon, Electrify America and EVgo are offered.  More importantly, this new investment alternative should help accelerate the adoption of private, shared, ride hail and fleet owned EVs, because their corresponding GHG reductions from higher sales volumes can be supported by more robust and financially viable charging infrastructure.

For further information or media inquiries, please contact: Sue Hall, President CNBN. Fact sheet available at http://climateneutral.com/index.php/evccc/

 

 

Are you ready for an electric ride? Make the switch and start saving today

Dave Paquette Testimonial
“As a father of three, I want my children able to grow up, enjoy the outdoors and become good stewards of the planet,” said Dave Paquette. “The ride is not only fast and smooth, but also green and emissions-free.”

Have you ever considered driving a zero-emission electric vehicle to avoid volatile gas prices and high maintenance costs of traditional cars and trucks? If you haven’t, you should really give EVs another look and join a growing number of people who are making the switch.  The technology is improving rapidly, and these cars offer a smooth ride, quick acceleration, and very low maintenance and fuel costs.

If you think an EV is in your future, here are a few considerations:

Daily commute

A common objection to EVs stems from range anxiety, the fear caused by concerns about running out of power in a limited range vehicle. This doesn’t happen with traditional vehicles, as gas stations are easy to find in most places. A vehicle’s range should be a purchase consideration, but not a deal breaker. Some battery electric vehicles have a range as low as 62 miles, while others can travel distances of 335 miles on a single charge.

If you are like most working Connecticut residents, EVs are a good choice for your commute. The 2015 Fast Facts from the Connecticut Department of Transportation found that 95% of residents travel less than 50 miles to work each day.

“I was originally concerned about the range limits,” said Dave Paquette of Canterbury, who recently purchased a Nissan Leaf with a range of nearly 110 miles. “But since I use this primarily as a commuter, and since I have another vehicle for family trips, it works out. If 90% of your driving is commuting, it’s a great car.”

“My highway (fastest) route to work is 48 miles, and my EV is rated for 107 miles on a single charge,” said Al Corsi of Milford. “However, the regenerative braking mode extends the range to about 130 miles. My experience has been great so far.”

Charging Up

There are over 400 public charging stations in Connecticut, and more – and faster – chargers are steadily getting installed. (Maps of public charging stations can be found at EVConnecticut, PlugShare, or through network providers such as ChargePoint and EVgo.) Most EV drivers charge at home, and take advantage of public stations as needed at workplaces, destinations, and along travel corridors.

EV drivers say they are mindful about the limits of their charge, however proper planning and switching from the fastest route to the shortest distance helps. Apps and in-vehicle systems help drivers find charging stations just like they were gas stations. And again, an advantage of EVs is that drivers can also fuel up at home or work – wherever there’s a plug. EVs also tend to have powerful regenerative braking systems (like hybrids do) to help feed the engine battery.

Al Corsi Testimonial
“It’s a little car with big attitude and a tiny eco footprint!,” said Al Corsi. “We’re impressed at what this little car can do!”

Incentives and great financing options

Avoiding the gas station and repair shop are not the only ways EV drivers see savings. The Connecticut Hydrogen and Electric Automobile Purchase Rebate (CHEAPR) can reduce a purchase or lease price by several thousand dollars, and a federal tax credit of up to $7,500 is still available. Some dealerships also run specials that offer deep discounts of their own or from manufacturers.

The Connecticut Green Bank has partnered with three local lenders (CorePlus Credit Union, Mutual Security Credit Union, and Nutmeg State Financial Credit Union) and local car dealerships to offer Smart-E for EV loans on new or used EVs for a limited time. With maximum loan amounts of $30,000 and terms up to 72 months, it’s never been a better time to purchase an EV. The year 2018 will mark the release of the most advanced models yet.

Go solar and fuel is free

If electricity is the fuel source for your car, and your house has solar photovoltaic (PV) panels, you could effectively drive for free. “If you have solar panels and produce excess power, it pays for itself,” said Paquette.

When Corsi installed solar panels at his home in Milford, he was looking ahead to adding an EV within five years for this reason. “Our solar panels are providing benefits beyond a lower electricity bill,” said Corsi.

If you already own or lease an EV, but do not have solar on your home, the Smart-E Loan can help. The loan would allow you to finance the total cost for the installation of solar and/or a charging station at your home with a low fixed rate and flexible terms.

Improved lifestyle, better future

Lastly, don’t overlook the environmental and lifestyle benefits of an emissions-free ride. Tailpipe emissions are the largest contributor to air pollution in Connecticut, and switching to an EV can make a difference with a clean ride.

“As a child, I thought it would be cool to have a car powered by electricity,” said Paquette. “My kids love it, and love that it doesn’t ‘make smoke’.”

For Corsi, his EV has triggered some positive lifestyle changes.

“While planning my errands around the availability of charging stations, my EV takes me to the local library,” said Corsi. “There I can plug-in and charge, walk off to my errands, return to have my car charged. So I’m walking a lot more!”

Both Corsi and Paquette have received their share of compliments on their new EVs.

“Everyone admires the EV,” said Corsi. “It’s quiet, sleek, fun to drive, and so they think it’s a great new experience.”

“I’ve had some family members pretty impressed by it and think it’s cool,” said Paquette. “Others are naysayers and try to come up with arguments against one, but when I present evidence on the cost per mile, [they see] I’m spending half the cost of an efficient gas burning vehicle.”