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Is Parking Cash-Out Worth It? Comparing Cost-Effectiveness and Climate and Equity Benefits in the Bay Area and South Coast Air Quality Management Districts
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2024-08-01
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[PDF-7.45 MB]
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Corporate Contributors:State of California SB1 2017/2018, Trustees of the California State University Sponsored Programs Administration ; United States. Department of Transportation. University Transportation Centers (UTC) Program ; United States. Department of Transportation. Office of the Assistant Secretary for Research and Technology
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Abstract:This research explores the potential impacts of California parking cash-out policy changes on the Bay Area and LA County. Parking cash-out—a California law since 1992—requires that certain qualifying employers who subsidize employee parking offer employees the option to give up their parking space and receive cash instead. Studies show parking cash-out substantially reduces VMT and emissions, yet enforcement remains voluntary. Current policy covers few firms (<1%) and employees (around 11%) in the study regions. Policy reform to include companies with 20+ employees could increase this to 18%. Our experimental-design survey (n=963) explores behavioral changes in response to multiple policy variables and finds that 76.9% of employees would accept cash-out if offered, and that participants who had to pay the market rate for parking and were full-time commuters were more likely to switch to using public transportation at lower cash minimums. VMT related to employees covered by parking cash-out are substantial (5.6 million in the Bay Area; 5.7 million in LA County), and account for a combined 6,593 daily tons of GHG. As even limited adoption could have significant environmental benefits, parking cash-out would be a more cost-effective approach to reducing VMT than traditional TDM programs such as trip-reduction programs, workplace parking taxation, or transit subsidies and road diets, though further evidence on the direct influence of parking cash-out on commuter behavior is needed.
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