The state of Vermont became the latest to hit the charge button this week, as it announced two new initiatives to support EVs. The first expands the State Infrastructure Bank (SIB) loan program, and the second provides financial resources for public charging stations in Vermont’s historic downtown areas.
Under the SIB program, municipalities and businesses can obtain loans for the construction and installation of EV charging stations at a fixed interest rate of 1%. The second program provides matching grants to build public charging stations within Vermont’s 24 Designated Downtowns – the program will fund 75% of the cost of installing charging stations in eligible areas.
“Making Vermont downtowns electric vehicle-friendly is just another part of our broader strategy to keep these communities strong and vibrant,” said Governor Peter Shumlin. “This effort will create opportunities for drivers of electric vehicles to shop, eat, work – and charge their cars – in Vermont’s downtowns.”
“The transportation sector is one of the biggest contributors to greenhouse gas emissions in Vermont,” said State Treasurer Beth Pearce. “Our state has ambitious goals to reduce our carbon footprint, and with today’s announcement, it will be easier and more affordable for communities across the state to finance the infrastructure needed to make the transition to cleaner forms of transportation.”
As of July 31, there were nearly 300 EVs registered in the aptly-named Green Mountain State.
“Transportation is one of our biggest climate challenges and one of our biggest opportunities,” said Burlington Mayor Miro Weinberger. “Burlington is investing in infrastructure to support electric vehicles, including the purchase of an increasing number of hybrid and electric vehicles and the state’s first hybrid electric bucket truck.”
Source: Drive Electric Vermont