The Connecticut Green Bank is committed to helping the State of Connecticut and its school districts meet the zero-emission school bus deployment requirements contained in Public Act 26-63. Learn more about Public Act 26-63 and what it means for your school district here.
The transition to electric school buses will include bus charging infrastructure and electric system upgrade costs. Our low interest financing products can help address these capital barriers and accelerate school bus fleet electrification.
Electric School Bus Benefits:
Public Health Electric school buses directly reduce kids’ exposure to harmful contaminants from diesel exhaust and improve community-wide air quality conditions by lowering emissions of particulate matter and nitrous oxides.1
Zero Emissions The transportation sector currently accounts for over 40% of Connecticut’s annual carbon dioxide emissions. Converting diesel school buses to electric is an effective and equitable way to lower Connecticut’s carbon footprint.2
Superior Performance Electric school buses can deliver operational savings through lower fuel and maintenance costs than their diesel counterparts. These savings add up over time and can help schools and school bus offset a portion of the higher upfront cost of ESBs.3
What financial support is available?
The Green Bank can provide low-interest, long-term financing for any electric school bus project in the state, with additional opportunities for projects located in Distressed Municipalities and under-served communities.
We can also help identify and facilitate applications for federal, state, and electric utility grant programs that match your project scope and timeline. Green Bank financing is designed to be “braided” with grant funds to maximize project benefits for school districts and school bus operators.
Green Bank electric school bus financing is available for public school districts, local municipalities, and school bus operator companies.
Up to 12 years
Up to 10 years*
Up to 20 yearsInvestment Structuring
The Green Bank offers flexible investment terms that enable project planning and implementation success. Investments are typically organized around the core equipment included in the project (usually buses, chargers, and electric infrastructure) and the contract term between a school district and its school bus operator.
Examples of the Green Bank’s flexible investment terms include:
- Providing upfront, bridge loan capital for federal, state, and electric utility grant awards;
- Enabling simple loan term refinancing upon district-operator contract extensions;
- Offering long-term financing (up to 20 years) for publicly-owned electric infrastructure upgrades; and
Customizing loan payment schedules to address electric infrastructure upgrade and charging station installation costs.
*Subject to technology warranty and district-operator contractual terms.
Need Help Getting Started?
We are ready to answer your questions! Whether you represent a school district, school board, or school bus operator, we can help you identify the right financial solution to meet your project needs.