A new report released by ARENA and CEFC has found that electric and plug in hybrid vehicles in Australia will boom over the next two decades.
The report, prepared by Energeia, forecast three potential scenarios, all of which predict that EVs will reach price parity with traditional combustion engines between 2020 and 2027.
Model availability, registration fee reductions, procurement targets and fuel efficiency standards have all been identified as key drivers for the uptake, with the sparse availability of charging infrastructure pinpointed as a barrier to EV uptake.
The report, which also includes modelling on the need for future charging infrastructure, has found that the vast majority of trips made in Australia are well within the range of current and future EVs.
ARENA CEO Ivor Frischknecht said although EV sales will expand over the next five years, investment in public charging infrastructure would further accelerate the EV uptake in the country.
“This report illustrates methods that have been used elsewhere around the globe to encourage people to buy electric vehicles. It examines charging infrastructure in some detail and also models what future EV uptake trends in Australia might be.” Mr Frischknecht continued.
“The report helps us to deliver on ARENA’s investment priority of improving Australia’s energy productivity. It also builds on the other EV related projects ARENA has already supported. I hope this report will be a useful addition to the EV conversation currently taking place in Australia.”
CEFC CEO Ian Learmonth said Australians are lagging behind when it comes to the uptake of EVs.
“This research shows that we can increase the uptake of EVs in a way that benefits drivers as well as the environment. It’s about lowering prices, supporting more models and creating a charging network,” Mr Learmonth.
“The reality is that the transition to EVs is inevitable. We’re already seeing vehicle makers confirm they will stop producing pure internal combustion engines over the coming years. At the same time, we’re seeing dramatic improvements in vehicle charging networks, creating the essential infrastructure to support electric vehicles.”
“These measures can deliver a material improvement on our greenhouse gas emissions, as well as take our vehicle fleet into the 21st century.”
To access the full report click here.