Plug-in Electric Vehicles Financing Strategies Workshop
On February 1, 2013, over 120 key stakeholders gathered at Golden Gate University in San Francisco for a workshop focused on outlining the scope of investment opportunities throughout the Plug-in Electric Vehicle (PEV) sector, identifying barriers and obstacles to capitalization, and discussing how policy initiatives might support PEV financing mechanisms. Renewables 100 Policy Institute helped organize the event, which was sponsored by the Offices of the California Governor and Treasurer and the California PEV Collaborative.
The workshop was catalyzed by an Executive Order issued by Governor Brown in March 2012 on Zero Emission Vehicles. This Executive Order supports the rapid commercialization of zero emission vehicles, sets aggressive targets for promoting private sector investments in California, and aims to make California a leader in the entire zero emission vehicle manufacturing value chain.
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The event provided a “roll up your sleeves” opportunity to align strategies and explore emerging financing ideas to build the PEV market. Ideas spawned at the workshop will inform next practical steps for how California tackles critical cost and infrastructure hurdles, outlines and prioritizes investment opportunities, and advances the Governor’s goals.
Participants included finance experts, auto manufacturers, infrastructure companies, local governments, consumer groups, workforce experts, state government leaders and many more important voices. Introductory remarks were made by Golden Gate University President Dan Angel, California Deputy Treasurer Patricia Wynne, Governor Brown’s Senior Advisor Cliff Rechtschaffen, and former California State Senator Christine Kehoe who now serves as Executive Director of the California PEV Collaborative.
The following six brief presentations were made:
– An Historical Perspective on the Role of Government in New Energy Financing:
Creating a Level Freeway for Electric Vehicle Growth, Nancy Pfund, DBL Investors
– Capital Leases for Public Agencies, David Peterson, Nissan North America
– Solar Miles Purchase Agreement: Clean Electric Drive as a Service, Shouvik Banerjee, SolarCity
– Accounting for Vehicle Efficiency in Automotive Loans, Max Baumhefner, Natural Resources Defense
– Residual Battery Value and Utilities, Ulric Kwan, PG&E and Adam Langton, CPUC
– Quantifying the Amount of Funding Needed to Meet EV Deployment Goals and California’s Return on
Investment, Alan Lloyd, International Council on Clean Transportation
Closing the workshop were remarks by long-time electric vehicle owner and advocate, Long Beach Mayor Bob Foster, followed by newly appointed California Public Utilities Commissioner Carla Peterman, who recently served on the California Energy Commission and who additionally chairs the California PEV Collaborative.