The South Australian Government has committed a further $12.25 million to accelerate the uptake of electric vehicles (EVs) with a new EV smart charging subsidy for South Australia households.
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 $3,000 subsidy and 3-year registration fee exemption for 7,000 new EVs that is also being provided by the South Australian Government.
Accessing cheaper power with smart charging will make an electric vehicle more affordable for more South Australians sooner.
Electric Vehicles are mobile batteries, which can help support a stable grid running off our abundance wind and solar power. By sharing the cost of the grid across this new source of demand, it is 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.
The EV smart charging subsidy increases the 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 3-year registration fee exemption, and $13.4 million to secure private investment in a state-wide EV Charging Network.
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.
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
Tuesday 7 December 2021