20
Nov

The ACT is set to be the most electric vehicle-friendly jurisdiction in Australia, offering interest-free loans and free rego

  • Pro-electric vehicle policies make up a major part of the Australian Capital Territory’s new governing agreement signed earlier this month by the Labor and Greens parties.
  • In an effort to phase out petrol vehicles, the ACT government will offer interest-free loans and free registration for EV cars, as well as a range of other new measures.
  • Electric vehicle registration has nearly doubled in the ACT in 2020, with advocates calling it the best state for zero-emission vehicles in Australia.
  • Visit Business Insider Australia’s homepage for more stories.

Petrol vehicles may soon be a thing of the past in the Australian Capital Territory, as the territory’s new government lays out its plans to entice residents to make the switch to electric vehicles.

Earlier this month, the Australian Labor Party and the Australian Greens announced the terms of their new governing agreementfor the government formed together after the ACT territory election on October 17.

One of the major components of the agreement is a suite of policies meant to phase out petrol vehicles, which are now the biggest source of carbon emissions in Canberra, in favour of electric vehicles (EVs).

In order to meet a self-described “ambitious” target of all new electric vehicles sales by 2030, the agreement includes a number of measures to encourage people to purchase EVs.

ACT residents will now be able to borrow up to $15,000 to buy an electric car, expanding an existing zero-interest loan scheme for rooftop solar installations.

All EVs will now get free vehicle registration for two years, as well as further financial incentives that have yet to be announced.

ACT will also get 50 new electric vehicle recharging stations in Canberra and across the region, with their construction being assigned by a reverse auction in 2021-2022.

Outside of benefits for individuals, the ACT Government is also taking a number of other steps to encourage the transition to EVs.

ACT will no longer buy non-zero emission buses, and has committed to buying 90 battery electric buses during this term.

Apartment buildings and office buildings regulations will soon require new buildings have charging infrastructure, and the ACT government will investigate taking steps to encourage retrofitting.

And the governing agreement also outlines a commitment to developing additional financial incentives electric vehicle uptake from businesses and the community as well.

The ACT was already one of the most electric-vehicle friendly jurisdictions prior to striking this governing agreement.

The government published a roadmap for policies to promote EVs in 2018 with its Transition To Zero Emissions Vehicles Action Plan 2018-21.

EVs numbers had nearly doubled during 2020 from 446 registered vehicles in January to 758 by the beginning of October.

Earlier this year, the Australian Electric Vehicle Association’s Adele Craven said the ACT was the “best” state for EVs.

Under this new agreement, the future is even brighter for EVs in the ACT.

Extracted from Business Insider