The California Capital Access Program (CalCAP) provides financing for designing, developing, purchasing, and installing electric vehicle charging stations at small business locations. The maximum enrolled loan amount is $500,000 per qualified borrower, and can be insured for up to four years (though the actual term of the loan can be longer). Lenders set the terms and conditions of the loans and decide which loans to enroll into the EVCS Program. The EVCS Program contributes 20% of the principal balance enrolled to a loss reserve account. CalCAP will contribute an additional 10%, up to a maximum of 30%, if the installation is in a multi-unit dwelling or located in a disadvantaged community as designated in the CalEnviroScreen 2.0.
|Incentive Type:||Loan Program|
|Eligible Renewable/Other Technologies:||Level-2 Electric Vehicle Service Equipment,Direct Current Fast Charging Equipment|
|Loan Term:||can be insured up to 4 years|
|Interest Rate:||maximum of 20%|
|Technologies:||Level-2 Electric Vehicle Service Equipment, Direct Current Fast Charging Equipment|
|Parameters:||The incentive has a minimum of $500000.00|
This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.
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