ACT Gov’t Makes It Cheaper to Own EVs

The ACT Government has recently announced its zero-interest loan program for electric vehicle purchases in its bid to reach net zero emissions by 2045.

Under the broader Sustainable Household Scheme, eligible ACT households will be provided between $2,000 and $15,000 for the purchase of new or used electric vehicles at zero-interest.

“Our goal is to support more Canberra households to share in the benefits of a net-zero emissions future, while at the same time creating and protecting good local jobs,” said Andrew Barr, the ACT’s minister for climate action.

Officially launched in September 2021, the Sustainable Household Scheme supports energy-efficient upgrades including rooftop solar panels, household battery storage systems, electric heating and cooling systems, hot water heat pumps, and electric stovetops.

The recent upgrade to the program now involves the purchase of new and used EVs as well as the installation of EV charging infrastructure in homes. In addition to the zero-interest loans, the Scheme also offers a stamp duty exemption for new electric vehicle purchases.

Green financier Brighte is administering the Scheme.

“Electric vehicles are the future: they have a huge role to play in the race to net zero and they can be powered from renewable sources such as solar. Next year we will be offering EV finance in other states and territories for Australians across the nation to own an EV and drive the clean energy revolution,” said Katherine McConnell, CEO and founder of Brighte.

Eligible ACT residents will be able to purchase EVs from accredited providers including IonDNA, the Good Car Company and National Capital Motors. More dealers in the territory are expected to be added over time.

In October, the ACT government has reported that 1,304 zero-emissions vehicles registered in the territory, effectively doubling the number from 2020.

Find out more about the Sustainable Household Scheme here.