A $12.25 million smart charging subsidy, announced by the South Australian Government, aims to increase the uptake of electric vehicles (EVs).
Over the next four years, 7,500 subsidies of up to $2,000 will be available to households, with new or existing plug-in EVs that invest in smart charging solutions that monitor and respond to household and electricity network events.
This is on top of the $3000 purchase subsidy and the three-year registration fee exemption for 7,000 new EVs.
South Australian Deputy Premier, Dan van Holst Pellekaan, said, “Encouraging electric vehicle owners to install smart chargers in their homes is good for the individual car owner, good for the environment and will drive down average household electricity bills.
“By accessing cheaper power with smart charging, this will make an electric vehicle more affordable for more South Australians.
“Electric vehicles are mobile batteries, which can help support a stable grid running off our abundance of wind and solar power.
“By sharing the cost of the grid across this new source of demand, it’s projected to reduce the price of a unit of power for all users over time.
“Independent modelling projects cost savings for all households of $95 to $324 in 2030 if EV uptake is accelerated and smart charging is embraced by electric vehicle owners.
“Encouraging the use of smart EV chargers at home is another step on South Australia’s journey to net 100 per cent renewable energy by 2030, and to be net carbon neutral by 2050.
“We have our sights set firmly on becoming a national leader in electric vehicle uptake and smart charging by 2025.”
The EV smart charging subsidy increases the State Government’s investment in South Australia’s Electric Vehicle Action Plan to $53.25 million, including the recently announced $22.7 million for 7,000 new EV purchase subsidies of $3,000 and three-year registration fee exemption, and $13.4 million to secure private investment in a statewide EV charging network.
Mr van Holst Pellekaan said the scheme is designed to integrate the growing electricity demand of electric vehicles into South Australia’s electricity system.
“Under the scheme, existing and new electric vehicle households will be able to access up to $2,000 to install an EV charger that aligns charging to times when household and state-wide electricity demand is low, making for an even more stable and affordable electricity grid,” Mr van Holst Pellekaan said.
“A stable grid with an abundance of renewable energy from wind and solar, coupled with further capacity to store energy in the form of electric vehicles, is projected to reduce power prices to benefit the whole community.
“Over the next four years it is forecast that plug-in EVs on our roads will grow from approximately 1,900 to more than 29,000 vehicles, so it’s important that we harness our abundant renewable energy resources to lower motoring costs, air, noise and carbon pollution, and reduce electricity costs for all South Australians.”
The subsidies will be available until the fund allocation is exhausted or for the next four years, whichever comes first.
To find out more about the EV smart charging subsidy go to: Incentives for electric vehicles | Department of Treasury and Finance.