Government Launches Second Round of Zero-Interest Loans for 10,000 EV Chargers by 2030

The Government is pushing ahead with its drive to deliver 10,000 public electric vehicle (EV) chargers by 2030, opening a second round of zero-interest loans to encourage private sector investment in charging infrastructure, Transport Minister Chris Bishop and Energy Minister Simeon Brown have announced.

Many Kiwis are interested in making the switch to an EV to cut down on fuel costs or their carbon footprint, but we continue to hear concerns about access to public chargers, especially for longer journeys outside main centres, Mr Bishop says.

Before this Government began addressing the issue, New Zealand had just over 1,800 public charge points – one of the lowest charger-to-EV ratios in the OECD.

It’s a classic chicken-and-egg situation. Companies are reluctant to invest in new charging infrastructure until there are more EVs on the road, while many people are hesitant to buy an EV until they know charging will be readily available.

That’s why we’re taking practical steps to unlock greater private investment, expand the public charging network, and give New Zealanders the confidence they need to make the switch. It’s another example of National fixing the basics and building the future.

National Infrastructure Funding and Financing (NIFFCo) will shortly release a Request for Proposals (RFP) for the second round of concessionary loans for public EV charging infrastructure. Around $21 million will be available for charge point operators seeking co-investment to deliver portfolios of public charging sites across New Zealand.

Applications will be assessed through an open procurement process focused on delivering the greatest value for money and the strongest contribution to the growth of New Zealand’s public charging network.

The second funding round builds on the successful first round of concessionary loans announced in March, which will deliver 2,574 new charge points through partnerships with ChargeNet and Meridian Energy.

Round one demonstrated strong market demand for the programme and showed concessionary loans can successfully unlock significant private sector investment, Mr Bishop says.

The projects already underway will more than double New Zealand’s public charging network and represent a major step towards achieving our long-term infrastructure goals. By 2030, our target is to have 10,000 public charge points across the country, providing roughly one charger for every 40 EVs.

Mr Brown says rolling out EV chargers will reduce range anxiety for EV drivers.

New Zealanders will make the best choices for their own circumstances, as we are seeing with the greater uptake of EVs without unnecessary subsidies from taxpayers.

With actions like loans for public EV chargers, the Government is helping provide the infrastructure and settings to broaden those choices.

The additional funding will accelerate charger deployment and give the market greater confidence to invest.

Concessionary loans lower the cost of capital and help overcome the challenge that charging infrastructure often needs to be built before demand is fully established.

By partnering with the private sector, we’re bringing forward investment, getting more chargers into communities sooner, and ensuring taxpayers receive good value for money.

This is just one of a number of actions the Government is taking to encourage electrification in New Zealand and to give New Zealanders more control over their power bills and energy use.

In addition to actions to put downward pressure on power bills, we are: Developing minimum standards for electric vehicle chargers so people can choose ones that will automatically charge overnight at times when power is cheapest Allowing rooftop solar installation on existing homes and buildings without a building consent, with solar connections up 19 per cent in the past year Doubling the export limits for households exporting power back to the grid from 5kW to 10kW Allowing the installation of most EV chargers in public places without a consent, through changes to national direction under the RMA Requiring gentailers to offer time of use plans so households can take advantage of cheaper rates, and make time-of-use available for those exporting power into the grid Developing a plug-in solar standard Installing rooftop solar on up to 500 schools Note to editors: Concessionary loans can fund up to 50 per cent of eligible project capital costs, have a zero per cent interest rate, and a maximum tenure of 12 years.

The concessionary loans programme is administered by National Infrastructure Funding and Financing (NIFFCo), the successor organisation to Crown Infrastructure Partners, which successfully delivered New Zealand's Ultra-Fast Broadband programme.

NIFFCo will release the RFP on Monday 10 August.