The Queensland Government has increased financial assistance under the Zero Emission Vehicle Rebate Scheme, which will see eligible households access a $6,000 rebate when purchasing a new electric vehicle (EV).
The new eligibility requirements will see an increased rebate available to Queenslanders under the Zero Emission Vehicle Rebate Scheme, opening the door for more accessible and affordable EVs.
The scheme was initially launched on 1 July 2022, the enhanced measures will ensure more Queenslanders and businesses are able to access an even greater range of EVs at better prices than ever before.
These new changes will serve to close the affordability gap through the provision of up-front financial assistance to buy an EV and reduce rising transport and energy costs impacting households.
Importantly, the scheme will also help bolster the second-hand EV market long term, making EVs more affordable to all Queenslanders. Currently, at least 23 EV models are available for purchase under $68,000. It’s anticipated seven more will be added at this price point by the end of 2023.
The rebate changes include:
- An increase to the rebate from $3,000 to $6,000 for eligible households earning up to a total gross household income of $180,000 per year
- Applicants who have already applied and received a $3,000 rebate under the earlier scheme, and who are under the total gross income threshold, are eligible for reassessment and additional payment of $3,000 rebate (totalling $6,000 per eligible application)
- An increase to the eligibility threshold for vehicles, which will now exclude dealer delivery fees from determining ‘dutiable value’ from $58,000 to $68,000 (inc. GST)
Queensland Minister for Energy, Renewables and Hydrogen, Mick de Brenni, said, “We’re seeing the prices of EVs fluctuate on the back of rising materials costs and inflation left by the Morrison Government, so we’ve increased the eligible price cap to $68,000, and increased the rebate amount from $3,000 to $6,000 for eligible households.
“This is about making EVs more affordable and more accessible to all Queenslanders to slash emissions and act on climate change with cleaner technology.
“We want more zero emission vehicles on Queensland roads with Queensland families to have access to cheaper and cleaner vehicles.
“We are committed to reducing the cost-of-living pressures of high petrol prices.”
Mr de Brenni said he was speaking to someone who powers their EV with solar from their home, it costs them $14.50 to drive almost 4,000km, comparably, the cost of driving a petrol-powered car would be at least 30 times this.
“We also want to see fleets transition to further drive down emissions. That’s why Queensland businesses can apply for up to five rebates per financial year, providing an opportunity for local businesses to make the switch to electric fleets,” Mr de Brenni said.
“This is an opportunity for Queensland businesses to step up and contribute to emissions reduction through transitioning their fleet operations.
“The scheme has already proven popular, and we anticipate this will increase further with the higher threshold and rebate amount.”
The CSIRO predicts households that electrify completely by 2030 will spend $30,000 less in 20 years compared to their neighbour who doesn’t electrify.
Feature image provided by Queensland Government.