After considering more than 500 ideas from 89 countries over the course of eight months, the Climate Strategies Accelerator selected an innovative financing concept raised by Dr. Holmes Hummel for a top award. Specifically, Dr. Hummel proposed to cut the upfront cost of EVs by applying a successful utility tariff for distributed energy solutions, starting with bus fleets that provide the most compelling business case.
For the final round, the Accelerator hosted a Silicon Valley-style Innovation Showcase attended by an invited audience of more than two dozen leading funders and field leaders for climate action. Criteria for selection included judging on the merits of potential for breakthrough impact, breakthrough strategy, leadership, field-wide perspective and capacity to execute.
Final decisions were made by representatives of the Packard Foundation, Oak Foundation, and Good Energies, the sponsors of the Climate Strategies Accelerator Fund. The Silicon Valley Community Foundation, which hosts the Fund, will process the Accelerator’s recommendation of a two-year award to advance the strategy to drive down oil demand with innovative utility financing for EV, starting with clean transit.