SINGAPORE: A new grant that offsets half the cost of certain electric vehicle (EV) charger components will be made available to condominiums and private apartments looking to install such chargers.
The Electric Vehicle Common Charger Grant will co-fund the installation costs of 2,000 chargers at such homes to incentivise early adoption of electric vehicles, the Land Transport Authority (LTA) said on Monday (Jul 19).
The Government has announced a target to deploy 60,000 EV charging points across Singapore by 2030, of which 40,000 will be in public car parks and 20,000 will be in private premises.
Owners of the chargers, whether an EV charging operator or owners of the residence, can apply for the grant to cover three upfront costs: The charging system, the licensed electrical worker fees and cabling and installation costs (capped at S$1,000).
The grant will co-fund half of these costs, with an overall cap of S$4,000 for each charger.
Only chargers with smart functions that allow them to monitor and react to energy consumption data through adjustments to the rate of charging will be co-funded.
This was to facilitate energy planning and more efficient electricity consumption, said LTA.
In order to catalyse the initial deployment of chargers in as many homes as possible, the grant will only co-fund the installation of chargers for up to 1 per cent of residential parking lots within each residence, it added.
The Electric Vehicle Common Charger Grant will be available to private developments that include residential units, except for landed properties, shophouses, hotels, hostels, serviced apartments and workers' dormitories.
The grant will open for applications from Jul 29 and be available until Dec 31, 2023 or until 2,000 chargers have been approved for co-funding, whichever is earlier.
Singapore announced its vision in Budget 2020 to phase out internal combustion engine vehicles and have all vehicles run on cleaner energy by 2040.
Since then, the Government has announced various measures to encourage the use of more environmentally friendly vehicles, including an Electric Vehicle Early Adoption Incentive.