New York invets $24 million of the VW Settlement in electric buses

The investment in all-electric transit buses is to support the State’s goal to reduce greenhouse gas emissions by 40% by 2030.

NYSERDA states in the press release it will administer approximately $18.4 million to fund the new electric transit buses through the New York Truck Voucher Incentive Program and the New York Power Authority (NYPA) will manage $6 million for associated charging infrastructure. DEC Commissioner Basil Seggos said, “The transportation sector remains the largest source of greenhouse gas emissions in New York, and by taking action to remove the worst polluters from our roads, communities across the state will benefit, especially those overburdened by pollution in our cities.”

The transit bus replacement funds will be administered through NYSERDA’s New York Truck Voucher Incentive Program (NYTVIP), which provides point-of-sale rebates to reduce the cost for businesses and municipalities that want to purchase new, clean electric or alternative-fueled vehicles (e.g., commercial trucks and buses). The rebate will initially reduce the incremental cost of purchasing all-electric transit buses by up to 100 percent.

New York strategically invests the Volkswagen settlement resources for maximum benefit and to build on clean energy and climate change. The state’s strategically leveraged investment of settlement funds is anticipated to result in at least $300 million of clean vehicles and infrastructure on New York’s roadways. The transportation sector is currently the largest source of greenhouse gas emissions in New York, representing approximately 34 percent of the state’s total emissions.