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Switching to electric vehicles and EV chargers has certain benefits. However, EV charger installations can be expensive, and homeowners often seek EV incentives, grants, and rebates to make it easier to complete their home EV charging projects. This post will provide information on government incentives for EV charger installations in Sydney.
This post considers Federal EV incentives in Australia and NSW government incentives for installing electric vehicle chargers. Examples of such grants include electric destination charging grants and EV-ready building grants. You can learn more about NSW EV-related taxes, investment plans for charging infrastructure in Australia, and bipartisan efforts and support for apartment EVs. Read on to discover more!
Electric Vehicle Incentives in Australia
Federal and state governments aim to achieve the zero emissions goal by 2050 and an Electric Vehicle (EV) sales increase of up to 50% by 2030. It is, therefore, understandable that they have set up EV incentives, rebates, and subsidies to help accelerate the achievement process.
For example, you may benefit from the electric vehicle charger residential and business grants scheme, the Electric vehicle fleets incentive or the $3,000 incentive from the Department of Treasury and Finance to support EV owners in South Australia.
Other examples of EV incentives in Australia include:
- Reduced vehicle registration duty rates.
- Electric vehicle charger grant schemes.
- Vehicle emission reduction schemes.
Read on for some Australian EV incentives that you may be eligible for:
Federal EV Incentives in Australia
This includes the following:
Higher luxury car tax thresholds
Luxury Car Tax (LCT) thresholds are higher for zero-emission vehicles and other fuel-efficient cars. This encourages increased uptake of zero tailpipe emissions vehicles. This is true for the LCT threshold for EVs as allocated for the 2023/24 financial year.
Exemption from fringe benefits tax
With the 2022 Electric Car Discount Bill, low- or zero-emission vehicles below the LCT threshold are exempted from Fringe Benefits Tax (FBT). EVs are consequently relatively more affordable for employees with novated leasing. EVs and PHEVs with luxury car tax threshold value can become eligible for FBT exemption. However, that for PHEVs is scheduled to expire on 1 April 2025.
Government Incentives for Installing EV Chargers
When it comes to electric vehicles in Sydney, you have to think of both the costs of installing electric vehicle chargers and the EV charger. However, you can get a notable program granting an appropriate incentive from the NSW government to take up electric cars and install EV chargers.
Meanwhile, the NSW government announced a phase-out of the electric vehicle rebates for EV purchases and stamp duty exemptions from 1 January 2024. It balanced it by intending to inject further funding into EV charging infrastructure. You must keep this in mind as you consider the following incentives.
EV-ready buildings grant
As an apartment dweller, you are eligible for the EV Ready Buildings Grant that provides support of up to $80,000 per building to install EV charging infrastructure (backbone electricity). This enables you to install EV chargers in your parking bay more easily.
The 2023-2024 NSW state government's budget includes funding for a statewide scheme to retrofit NSW apartments with electric vehicle chargers. You can get further information on this grant and other NSW climate and energy action support from the Energy NSW website.
Local council rebates
Local councils (such as the Randwick council) may offer rebates to homeowners who want to install EV chargers at home. You can confirm this with your local council.
NSW EV rebate
This $3,000 incentive is now closed. Previously, new EV owners (BEV or FCEV) living in NSW who fall within the first 25,000 EV buyers that apply for these electric vehicle rebates could benefit from a $3,000 incentive. This was applicable if the worth of the battery electric or hydrogen fuel cell vehicle is $68,750 or less.
Exemptions from stamp duty
New and used Electric Vehicle purchases below $78,000 inc GST can previously benefit from stamp duty exemptions. However, this NSW stamp duty exemption incentive is now closed. The NSW government can provide more information.
EV destination charging grants
The destination charging grant is an electric vehicle charging grant set up in 2022 by the NSW government in partnership with the Electric Vehicle Council. This amounted to an investment of $20 million for the rollout of EV chargers at tourist destinations throughout regional NSW.
Businesses, local destinations, and regional councils can use the NSW EV destination charging grant to access significant funding for Installation, AC Hardware, and software services.
This grant can benefit businesses by helping ease their EV transition. Before applying for the NSW government's incentives, you can consult a licensed electrician to better understand the installation requirements for charger installations. The NSW government website provides more information on current destination charging funding rounds and application details.
EV charger kerbside charging grants
The NSW Government's support allows councils and charge point operators to apply for co-funding to install EV chargers at kerbside locations. Applications partaking in the first round of funding closed on 17 November 2023.
This funding covers up to 80% of total EV charger installation and equipment costs and a three-year EV charger software subscription. You can get further guidelines on information on EV kerbside charging grants at www.energy.nsw.gov.au/electric-vehicle-kerbside
NSW EV fast-charging grants
The NSW Electric vehicle strategy aims to develop a world-standard fast charging network across NSW. In line with this, $84.2 million has been allocated to construct up to 190 new fast-charging stations in the state. The second round of applications for the EV fast charging grants closed on 14 March 2023.
In this round, up to 14 organisations bid to the NSW government for up to 224 EV fast charging stations. Eight applicants – 104 fast charging stations – have been approved for co-funding. You can visit here for more details on the co-funded sites.
Meanwhile, the announcement of the third round of co-funding, in accordance with the NSW Electric Vehicle Public Charging Master Plan for metropolitan and regional NSW EV fast charging stations, is expected in 2024. Although rounds 1 and 2 applications for the fast charging grant are now closed, you can get resources and information on previous rounds below:
- FAQs on Round 2
- Guidelines on Round 2
Combined incentives
If you combine federal and state incentives as an EV buyer, you may be able to save an average of $5,540 per vehicle. The list of eligible vehicles is available here.
NSW EV-Related Taxes You Should Know
New South Wales intends to introduce an EV road user charge to offset fuel excise revenue reductions from EV drivers. This is with effect from 1 July, 2027, when EV car sales exceed 30 percent of new car sales.
Investment plans for charging infrastructure in Australia
Apart from EV incentives and rebates, the Australian federal and state governments aim to create adequate EV charging infrastructure to facilitate EV drivers' demands. Here are some of the efforts in this area.
- Investments to create 77 new public charging stations in the Australian Capital Territory:
- Budgeting to create EV charging infrastructure in New South Wales.
- Commitments to an EV charging infrastructure scheme and charging sites in Queensland.
- Budgets and efforts to accelerate the setup of suitable EV infrastructure in Victoria.
- The objective is to install 149 charging stations with up to 530 EV charger features in over 50 locations in South Australia.
- Funding for 45 charging sites with 90 DC stations in Western Australia.
- Subsidy and funding for charging infrastructure include 23 EV charging stations in densely populated areas and 20 stations across regional routes in Tasmania.
- Creation of EV charging infrastructure in the Northern Territory.
Bipartisan Efforts and Support for Apartment EVs
There have been various levels of bipartisan support for apartment EVs whereby the present NSW government improves on the efforts of previous NSW governments.
These supports make it easier for apartments in Central Sydney to install EV charging or rooftop solar infrastructure.
The NSW government has previously funded a demonstration project in Sydney's Pyrmont. The project at the Richmond building involved upgrading electrical systems with EV charging facilities for the 104 parking spaces in the building. A guide also supports the setup of electric vehicle charging infrastructure in commercial and residential properties.
Meanwhile, the new Labor government is setting up several incentives to increase EV uptake in the state. This includes a $260 million investment in additional public charging infrastructure along commuter routes. This investment also aims to provide 500 kerbside chargers, grid capacity upgrades, and EV fleet-supporting charging hubs.
Hire a Contractor for EV Charger Installations
This post has examined various government incentives for EV charger installations in Sydney. As more drivers adopt electric vehicles (EVs), many prefer home charging stations over public ones. This is because home charging stations offer unique convenience and flexibility benefits over public charging stations.
You can hire a licensed electrical contractor to help you find the best EV charger, install it, and activate the system. They can also provide electric vehicle charging solutions and accessories that reduce your energy bills.
