Electric Vehicle Charging Station Financing Program
- Incentive Website
- Incentive Status: Active
- Application Due Date: Ongoing
The goal of the California Capital Access Electric Vehicle Charging Station (CalCAP/EVCS) Financing Program is to expand the number of electric vehicle charging stations installed by small businesses in California. The program, funded by the California Energy Commission, provides small business borrowers and lenders incentives to finance electric vehicle charging station equipment acquisition and installation to increase PEV adoption and attract new customers.
Borrowers may be eligible for a rebate equal to 10% or 15% of loan amount. Lenders may be reimbursed for up to 100% of loan defaults if funds are available in the lender’s loss reserve account. EV Practitioners and Public Agencies can promote the program as a financial solution to accelerate implementation of EV readiness plans, help small businesses acquire capital for EV infrastructure, and assist their communities or constituents in complying with local air quality and transportation policy goals.
For more information about the CalCAP/EVCS program please see our Program Summary page.
Check to see if your commercial lender or financial institution participates in the CalCAP/EVCS Program or find a participating lender. If your financial institution does not currently participate, it is easy for lenders to sign up. Please have your institution complete the Financial Institution Application and send to CalCAP to get started.
Do I Qualify?
Who is eligible?
- Almost any corporation, partnership, cooperative, or other entity with 1,000 or fewer employees.
What is eligible?
- Costs of installation and acquisition of electric vehicle infrastructure, design and development costs, operation and maintenance costs, as well as hardware and software costs necessary to operate the charger.
- Enrolled loans are insured for up to 48 months and are limited to $500,000 per borrower.
How to Apply
- Small businesses reach out to participating lenders for charging station financing.
- CPCFA contributes a portion of the loan amount (20-30%) into the lender’s loss reserve account to cover the lender in the event of a default.
- After loan repayment or following 48 months after the loan is funded, the small business may be eligible for a rebate equal to 10-15% of the enrolled amount. The base rebate is 10% of the enrolled loan amount. The rebate will be 15% if the EVCS installation is located at a Multi-Unit Dwelling or in a Disadvantaged Community.
For more information visit our website or call (916) 654-5610. You can send us an email using form below.