Magic school bus, deploy! Cleaner air and cost savings in North Carolina with electric school buses.

Abstract

The purpose of this project is to evaluate ways to assist the deployment of electric school buses (ESB) across the state on behalf of the client, the North Carolina Clean Energy Fund (NCCEF). In part one of this report, we simulate vehicle-to-building battery dispatch and discuss resulting savings and economic opportunities from ESB ownership. In part two, we examine potential products NCCEF can employ to expand access to ESBs. This report reviews the strengths and shortcomings of several financing models. Getting more ESBs on the road aligns with NCCEF’s mission to be a market catalyst, ensuring wider access to a proven green product. As shown here, NCCEF is well positioned to enhance some school districts’ purchasing power. We also find that if financing is structured correctly, ESB fuel savings combined with their battery energy storage capabilities, can provide returns that sustain and broaden NCCEF investments.