EV infrastructure upgrades for NSW apartments gets $10 million boost
In a bid to keep pace with the surging adoption of electric vehicles (EVs) in NSW, the state government is offering co-funding to retrofit existing apartment buildings, making them EV-ready.
During the first half of 2023, 8% of new car sales in NSW were electric vehicles.
A significant percentage, estimated at 80-90%, of EV owners prefer to charge their vehicles at home, be it in single-dwelling houses or apartment buildings. Given that approximately 15% of the NSW population resides in apartments and there are nearly 84,000 strata schemes, ensuring EV readiness in such multi-unit dwellings has become a priority.
The NSW Government has allocated $10 million for co-funding to assist eligible apartment buildings in assessing and installing EV infrastructure upgrades, and this funding is made accessible through the EV ready buildings grant. The grant offers a maximum amount of up to $80,000 per building.
The benefits of investing in EV charging infrastructure are manifold. Residents of apartment buildings are increasingly looking for the convenience of EV charging infrastructure. As EV adoption continues to rise, properties with EV charging infrastructure become more attractive to potential renters. By retrofitting buildings with EV charging infrastructure, building owners ensure that all residents have equitable access to EV technology.
To take advantage of this opportunity, apartment building owners should:
- Assess Current Infrastructure: Start by evaluating the existing electrical infrastructure to understand the building's capacity for additional electrical load.
- Determine Charging Needs: Identify the current and future EV charging needs of residents, including estimating the number of EVs in the building and residents' charging habits.
- Apply for the Grant: Review the grant guidelines, eligibility criteria, and application process. Prepare a comprehensive grant application that includes all the necessary details about your building's current status and planned upgrades.
- Implement Retrofitting: Once the grant is approved, use the funding to retrofit the building with the necessary EV charging infrastructure. This may include upgrading switchboards and distribution boards and installing the required cabling.
- Resident-Friendly Solutions: Install EV charging stations in accessible locations within the building's premises to make it convenient for residents to charge their vehicles.
It's essential to act promptly as the grant applications will close once the $10 million funding is exhausted.
By making buildings EV-ready, the NSW Government is attempting to meet the demands of the changing automotive landscape, and supercharge the transition to net zero.