New York Governor Andrew Cuomo announced $3 million in new funding to help eligible municipalities and rural electric cooperatives purchase electric vehicles for their fleets.
This new funding is part of the New York Power Authority's Municipal Electric-Drive Vehicle Program, which provides financial assistance to facilitate the replacement of less fuel-efficient vehicles.
All types of commercially available battery-electric and hybrid-electric vehicles are offered for purchase under the program, including passenger cars, pickup trucks, off-road specialty vehicles, and heavy-duty utility bucket trucks.
Municipalities and rural electric cooperatives that currently receive low-cost hydropower from the New York Power Authority are eligible to participate in this program. The funding builds on $5 million previously distributed under this program that has helped put 61 clean vehicles into service in 24 towns and villages across New York.
The Municipal Electric-Drive Vehicle program works by providing zero-interest financing. The funds made available for the purchase of these vehicles are recovered over the course of three years.
New York Power Authority serves 47 municipal and four rural electric cooperative utility systems around the state, providing them with low-cost hydropower to help meet the electricity needs of their residents and businesses.