Electric Vehicle (EV) and Fuel Cell Electric Vehicle (FCEV) Low Income Opportunity Study

The Washington State Department of Commerce (WSDOC) conducted a study to identify opportunities to reduce barriers to EV and FCEV adoption by lower income residents through the use of vehicle and infrastructure financing assistance. The study included opportunities to work with nonprofit leaders to facilitate vehicle purchases through loan-loss reserves and rate buy downs by qualified borrowers purchasing EV and FCEVs that are eligible for tax exemptions, focus on potential borrowers who are at or below 80% of the state medium household income, and address opportunities to increase EV adoption by lower income residents of the state. WSDOC submitted a report detailing the findings of the study to the transportation committees. (Reference House Bill 2042, 2019)