Electric trucks are displayed outside of the California EPA in July 2020. Photo by Anne Wernikoff for CalMatters

A state program meant to help small businesses purchase low-emission trucks has helped get more clean trucks on the road.  

State Treasurer Fiona Ma and the California Air Resources Board (CARB) announced last week that the California Pollution Control Financing Authority (CPCFA) and CARB have successfully supported small business in purchasing more than 40,000 cleaner trucks through the Heavy-Duty Vehicle Air Loan Program.

The Heavy-Duty Vehicle Air Quality Loan Program, or the California Capital Access Program (CalCAP), was designed to support the implementation of the 2008 Truck and Bus Regulation, which requires all heavy-duty diesel trucks and buses that operate in California to retrofit or replace engines in order to reduce diesel emissions.

The program promotes credit enhancement to small businesses upgrading vehicles with model year engines that are 2010 or newer.

“It is so exciting that two state agencies and many financial institutions have been able to work together to assist small businesses in meeting California’s air quality goals, and we look forward to partnering with CARB as our work continues to improve our air quality,” said Ma.

With 40,000 cleaner trucks on California roadways through CalCAP, that is the equivalent of removing more than 13 million passenger cars from the roads and 182 tons of particulate matter per year.

By 2035, all new passenger vehicles and drayage trucks are required to be zero-emission. Vehicles in medium and heavy-duty fleets transition to zero-emission by 2045 where feasible.

CalCAP includes an interest rate cap to help small businesses receive more favorable terms.

“This successful financing program gives hardworking truck owners access to an affordable way to reduce emissions and increase fuel efficiency,” said Sydney Vergis, CARB mobile source control division chief. “As truckers comply with California’s air quality regulations that slash toxic diesel emissions, we all get to enjoy cleaner air, particularly those Californians living in communities disproportionately exposed to pollution from the dirty trucks this program is helping to replace.”