Range anxiety for electric vehicle (EV) drivers could be eliminated within the next two years, according to a new automotive report.
Findings by Australian EV and clean energy company, Bell Resources, predict that EVs could be on par with their petrol-powered counterparts when it comes to driving distance by 2024, provided that fast charging stations and battery technology continues to improve.
Many EVs in today’s market have a limited driving range when compared to fuel-powered cars, which has been known to cause range anxiety – the fear of driving an electric vehicle and it running out of power.
In fact, the Electric Vehicle Council uncovered in a recent report that almost three quarters of Aussies (69%) are discouraged from buying an EV as a result of range anxiety. Other concerns included initial purchase cost (87%) and access to charging infrastructure (85%).
With range anxiety tipped to soon be a thing of the past, there will be room for EV growth and adoption in the country, Bell Resources founder and chief executive officer Mark Avery explained.
“For years now, Australians have felt that the gap between EV and traditional ICE (internal combustion engine) range hasn’t passed the pub test, however, this will no longer be the case in two years’ time,” he said.
“The tailwinds behind EV adoption in this country cannot be ignored and we are at a really exciting turning point as more and more Australian road users take up EV ownership, especially now that charging technology is developed to the point where it alleviates range anxiety.”
The report from Bell Resources also found that the introduction of incentives and legislation by federal and state governments seen in the past 12 months has helped drive EV uptake.
These claims are supported by data from the Electric Vehicle Council, which reported EV sales had tripled from 6,900 in 2020 to 20,665 in 2021.
Financial incentives have cemented a strong outlook for future EV growth, and could see high upfront costs diminished in the coming years, Mr Avery added.
“We’re also predicting that EVs will reach cost parity in Australia by 2030 – this will significantly boost uptake as well as the need for charging infrastructure. The declining cost of lithium-ion batteries will also assist in driving down the cost of EVs for the everyday consumer, making them a mainstay of Australian households across the country.
“Australia is well positioned to establish a thriving EV market, increasing the need for a cost effective and accessible charging infrastructure service. This would be aided by clear and detailed EV policies set out by the federal government. This is something we should hear more about as we ramp up toward the upcoming federal election.”
According to the data, EVs will account for just under a third (30%) of new vehicle purchases in Australia by 2030, and nearly three-fifths (59%) of the total vehicle market in the world.
Bell Resources also predicts that within the next 10 years financial support from government incentives will no longer be needed to help normalise the price of EVs.
The Electric Vehicle Council states that EVs made up 1.95 per cent of new car sales in Australia in 2021, signifying a long road ahead for the industry.
AGL EV Plans
Some retailers offer dedicated energy plans to customers who own EVs, which usually help offset home charging costs. Below, you’ll find the pricing details for AGL’s EV electricity plan in each state.
Here is AGL’s Electric Vehicle Plan on our database that includes a link to the retailer’s website for further details. This is a product from a referral partner†. These costs are based on the Citipower network in Melbourne but prices may vary depending on your circumstances. This comparison assumes general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Please use our comparison tool for a specific comparison in your area. Our database may not cover all deals in your area. As always, check all details of any plan directly with the retailer before making a purchase decision.
What does Australia’s EV charging infrastructure currently look like?
Charging infrastructure in the country varies between the states and territories with some being more proactive than others. Below is a handful of projects in the pipeline for EV charging infrastructure in Australia:
- New South Wales: Recently committed to a $171 million investment in a state-wide charging network.
- Victoria: Revealed an infrastructure investment of $19 million to accelerate rollout of EV charging infrastructure across regional Victoria.
- ACT: Will invest in 50 publicly accessible charging stations by mid-2022, with another 50 to follow.
- Queensland: 18 new fast chargers to be added to inland areas such as Charleville, Longreach and Mt Isa, to run alongside the coastal-focused Queensland Electric Super Highway already in place.
- Tasmania: Up to $600,000 worth of grants available through the ChargeSmart program to help install AC or DC fast chargers.
- South Australia: City government offers up to $5,000 for installations to help boost public charging infrastructure within the city limits. Plans in the works for a state-wide charging network by 2025.
- Western Australia: Investing $21 million into State Electric Vehicle Strategy, which will see Australia’s longest electric vehicle fast charging network established throughout WA with 45 charging locations. Installations for this network are scheduled to begin in mid-2022.
Additionally, through the Future Fuels Fund, over 400 fast charging EV stations are set to roll-out across the National Highway soon.
Majority of Aussies (92%) believe public charging infrastructure was important in encouraging them to buy an EV, according to the Electric Vehicle Council.