Clean Transit Access Program (CTAP) - Electrifying NYC dollar vans.
Two million New Yorkers live in transit deserts, where informal transit providers all use gas-powered-vehicles, and there are no financial options for fleet electrification in disadvantaged communities. This solution leverages external private capital to multiply reach and scalability. Additionally, Dollaride is working through an existing ecosystem of fleets, drivers, and riders in disadvantaged communities, and enabling them to electrify through access to capital, electric vehicles, infrastructure, and technology. This project will deploy nearly $32M towards commuter van electrification, using 250 electric vehicles to reduce 4,424 tons of CO2 annually and enable clean electric transportation for 120,000 annual commuters in disadvantaged communities in transit deserts. Dollaride's solution targets transportation deserts in disadvantaged communities, providing last-mile solutions for commuters. Hundreds of electric vans will reduce emissions and improve air quality, and by including private capital Dollaride is demonstrating the invest-ability of electrification, attracting necessary private investment for transportation electrification at scale.
The solution leverages the NYSERDA prize dollars to deploy an additional $26.5M of private capital. This additional capital will finance 250 electric commuter vans over 3 years, connecting commuters in transit deserts to transportation hubs, and reducing emissions by 4424 metric tons of CO2 (mtCE) emissions per year, a net savings of 75,503 mtCE/yr. Providing local fleet owners serving disadvantaged communities with access to EVs through affordable financing will increase air quality and reduce transportation emissions in disadvantaged communities. Dollaride will leverage NYSERDA prize dollars with private financing to catalyze further investments into clean transportation for disadvantaged communities, electrify and digitize local commuter vans and other fleets, develop charging infrastructure to optimize fleet operations with wireless charging while simultaneously providing plugin charging to local communities, and develop and implement a scalable program expanding from NYC to NYS the US. Key Performance Indicators (KPIs) include the number of EVs, capital deployed, ridership, trip frequencies, and the reduction of greenhouse gas (GHG) emissions and vehicle miles travelled (VMT).
This solution's impact is broad, deep, and highly scalable. By electrifying commuter vans in disadvantaged communities through public and private financing, this solution will support multiple transit deserts around NYC, reduce vehicle emissions and improve air quality, create jobs for drivers and vehicle maintenance, improve property values through charging infrastructure and faster commutes, increase access to EV charging, and attract private capital investment to electrification projects in disadvantaged communities. Furthermore, this model is very repeatable and can be scaled to help any disadvantaged community that would benefit from commuter van routes.