The Promise (and Potential Pitfall) of VW Settlement Funding

Source: ACT News

Last year’s grant season was as busy and diverse as any, buoyed by the influx of Volkswagen Settlement Funds. From California’s $150 million Zero and Near Zero Emission Freight Facility Program (“ZANZEFF”) to dozens of state-level programs, there is hardly a locale without an opportunity to secure incentives for clean vehicles and equipment.

This year promises even more opportunities—the amount of funds available later in 2019 dwarf what we’ve seen so far. Four states with the most Volkswagen Settlement Funding, California, Texas, Florida, and New York, are opening up their first rounds of Volkswagen Settlement programs this year. However, potential pitfalls associated with these funds lurk in the not-so-distant future. States need to not only recognize these potentials risks, but also structure their incentive programs to take full advantage of market conditions. Only then will states be able to stretch their funding dollars further and effectively accelerate the deployment of clean transportation technologies.

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