Waterloo launches fleet EV incentive

Monday, January 10, 2022

Does your department have a campus vehicle in need of replacement? Have you considered exploring an electric option?

Waterloo is launching a new incentive for departments to electrify fleet vehicles. Any unit replacing a conventional combustion engine vehicle can receive a $10,000 internal incentive to convert to an electric vehicle (EV).

Electric Vehicle charging

EVs will play an important part of reducing emissions from Waterloo’s fleet, which accounts for around 1% of the campus’ total emissions. The campus has been expanding hybrid purchases over the past several years, and in 2021 purchased its first fully electric vehicle, but the pace of adoption needs to be accelerated to achieve the Waterloo’s climate action targets.

“One barrier that often comes up for EVs is the up-front purchase price,” says Mat Thijssen, Director of Sustainability. “Although there are many operational savings on energy and maintenance from an EV that make them cost-competitive or very close to cost-competitive over their lifespan, that up-front cost can be a challenge.”

The subsidy hopes to overcome that, and it can be combined with any other applicable government rebates or grants to support the EV purchase or charger installation.

With many vehicle manufacturers expanding their EV product lines, there are a larger number of electric car, cargo van, and even truck options that can help build out a low-carbon fleet.

For more details on the funding program, visit the Transportation page, or reach out to Mat Thijssen.