Sunday, September 24, 2023

NSW gives another $38 million to EV charging infrastructure

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NSW Treasurer and Secretary of Energy Matt Kean has announced an additional $38 million in charging infrastructure for electric vehicles on the eve of the state budget.

When Kean handed over the NSW 2022-23 budget on Tuesday, June 21, the pro-EV treasurer announced the additional funds, putting the state’s investment in electric vehicles at $633 million below its target. NSW Electric Vehicle Strategy

“By rolling out additional chargers, more EV drivers can take advantage of their lower running costs and a cleaner, quieter and more sustainable road network,” he said.

“You’re never far from a charger on our major highways, at regional destinations, in apartment buildings, and on curbs in metropolitan areas with limited on-street parking.”

The funding will leverage private sector investment to meet growing demand for EV charging, alongside a series of incentives introduced by the NSW government to encourage people to buy electric cars.

The final $38 million is earmarked as follows:

  • $10 million to help fund 500 curbside charging stations for on-street charging on residential streets where on-site parking is limited.
  • $10 million to co-finance approximately 125 medium and large apartment buildings with more than 100 parking spaces to perform electrical upgrades for EV charging.
  • $18 million for more EV fast-charging subsidies to accelerate station rollout. It will also increase the number of charging points – from the current four to at least eight – at charging points in high-density urban areas.

“This funding will help communities stay connected and help vacationers get on the road to enjoy weekend trips as motorists in NSW prepare for the next era of driving,” said Kean.

Earlier this year, the treasurer of NSW announced EV discounts for buyers, including a $3,000 discount and stamp duty exemption for eligible new EVs.

The strategy also includes a $149 million plan to support private industry in rolling out ultra-fast charging stations, and $20 million for chargers at regional companies and tourist locations.

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