The Government has allocated $52.7 million in zero-interest loans to more than double the number of EV chargers in New Zealand. Just over 2500 new stations will be built, with co-investment from ChargeNet (currently NZ's largest charge-station provider) and power company Meridian.
“Many New Zealanders have thought about getting an EV, even before the fuel challenges we’re currently facing," says Transport Minister Chris Bishop. "But research shows that the lack of public chargers is holding many back from making the switch to an EV.
"The private sector is reluctant to invest in charging infrastructure until there's sufficient demand, but demand won't grow until the lack of public chargers stops putting buyers off."
New charge stations will include AC-only connectors
The 2574 new charge points include 1374 DC fast chargers and 1200 AC chargers. DC fast chargers deliver power directly to the battery and can charge a car in 20-60 minutes, making them suited to highways and destinations where people stop briefly.
AC chargers are slower and better suited to places where cars are parked for longer periods, like shopping centres, workplaces, and residential areas.
The provision of more public AC chargers could also help the adoption of plug-in hybrid vehicles (PHEVs), many of which do not have ports that allow DC fast-charging and are solely reliant on AC.
"About half the new chargers will be spread across Auckland, Hamilton, Tauranga, the Wellington region, Christchurch, and Dunedin, with the other half throughout the regions, so drivers outside the main centres will benefit too," says Bishop.
“New Zealand currently has a bit over 1800 public charge points, which is among the lowest charger-to-EV ratios in the OECD. Another 161 charge points are also in progress. Combined with the investment being announced today, the national total will be around 4550. The Government is working towards 10,000 charge points by 2030, roughly one for every 40 EVs.”
Why ChargeNet and Meridian for the new chargers?
ChargeNet and Meridian Energy were selected through a contestable, value-for-money bid process. Both companies are co-investing a combined $60 million of their own capital alongside the Government loans, taking the total investment to over $110 million.
"Concessionary loans bring forward private investment in public EV charging infrastructure by lowering the cost of capital, while keeping the taxpayer's contribution to a minimum,” says Bishop.
“In this case, the average loan per charge point is $20,000, but once repayments are factored in, the net cost to the Crown is around $10,000 per charger, roughly a quarter of what a direct grant would cost.
“We’re also changing our planning rules to make the installation of public EV chargers a permitted activity under the RMA, meaning in most cases no consent is required – another factor that will help to speed up delivery."