The Land Transport Authority (LTA) revealed that the Electric Vehicle Common Charger Grant will help fund the installation cost of 2,000 EV chargers at such homes as an early adoption incentive.
Condominiums and private apartments eyeing to install electric vehicle (EV) chargers can avail of a new grant which offsets half the installation cost for such chargers, reported Channel News Asia (CNA).
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The Land Transport Authority (LTA) revealed that the Electric Vehicle Common Charger Grant will help fund the installation cost of 2,000 EV chargers at such homes as an early adoption incentive.
The Government targets to deploy 60,000 EV charging points across the city-state by 2030, of which 20,000 will be found in private premises and 40,000 in public car parks.
LTA noted that owners of chargers, whether owners of the residence or an EV charging operator, can avail of the grant to cover three upfront costs – namely, the licensed worker fees, the charging system as well as the cabling and installation costs, which is capped at $1,000.
LTA explained that the grant will co-fund 50% of these costs, subject to an overall limit of $4,000 per charger.
To facilitate more efficient electricity consumption and energy planning, the grant will only co-fund chargers that feature smart functions which allow them to monitor as well as react to energy consumption data via adjustments to the rate of charging.
Moreover, it will only co-fund the installation of chargers for up to 1% of residential parking lots in each residence. This is to catalyse the initial deployment of EV chargers in as many houses as possible.
The grant will be available to private developments which include residential units, except for shophouses, landed properties, hostels, hotels, workers’ dormitories and serviced apartments.
The Electric Vehicle Common Charger Grant will open for application from 29 July and will be available until 31 December 2023, or until 2,000 chargers are approved for co-funding, whichever is earlier.
In Budget 2020, Singapore unveiled its vision to phase out internal combustion engine vehicles as well as have all vehicles run on cleaner energy comes 2040.
The Government has since then rolled out various measures to promote the use of more environment-friendly vehicles, such as the Electric Vehicle Early Adoption Incentive.
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Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this story, email: victorkang@propertyguru.com.sg
