State Treasurer’s Electric Vehicle Charging Station Financing Program, Anza Electric Cooperative


Through the Alternative and Renewable Fuel and Vehicle Technology Program (ARFVTP), the California Energy Commission partnered with the State Treasurer’s Office, Anza Electric Cooperative, and the Pacific Enterprise Bank of Irvine to bring the promise of pollution-free electric cars to the 3,000 residents in the rural community of Anza.

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 $11,124 loan made to Anza Electric Cooperative through the program helped install one dual port level 2 charging station at the Anza Electric Cooperative’s headquarters. It is the only charging station within a 35-mile radius of Anza.

Funding Category
EV Charging Infrastructure

Location
Anza, Riverside County

Top Photo: Electric Vehicle (EV) charging at EV charger at Anza Electric Cooperative’s headquarters. Bottom Photo: Electric Vehicle (EV) charging at EV charger at Anza Electric Cooperative’s headquarters.
Photos courtesy of California Energy Commission.

"We must demonstrate that reducing carbon is compatible with an
abundant economy and human well-being."

Governor Edmund G. Brown Jr.