New Zealand opens second round of EV charger loans

New Zealand has opened a second round of zero-interest loans for public electric vehicle charging projects as part of the Government's target of 10,000 public chargers by 2030.

National Infrastructure Funding and Financing will soon issue a Request for Proposals for the latest round, with about $21 million available for charge point operators seeking co-investment for portfolios of public charging sites across the country.

The funding is intended to encourage private investment in a market where operators have been cautious about building infrastructure ahead of stronger demand from electric vehicle drivers. Applications will be assessed through an open procurement process focused on value for money and each project's contribution to expanding the national charging network.

Transport Minister Chris Bishop said New Zealand started from a low base, with just over 1,800 public charge points before the current programme began, one of the lowest charger-to-EV ratios in the OECD.

The first round of concessionary loans, announced in March, backed projects with ChargeNet and Meridian Energy. Those partnerships are expected to add 2,574 charge points, more than doubling the existing public network.

Officials said the first round also strengthened the case for further support by showing strong market demand and suggesting low-cost lending could attract more private capital for charging projects.

“Many Kiwis are interested in making the switch to an EV to cut down on fuel costs or their carbon footprint, but we continue to hear concerns about access to public chargers, especially for longer journeys outside main centres,” Bishop said.

He described the issue as a mismatch between vehicle adoption and infrastructure rollout.

“Before this Government began addressing the issue, New Zealand had just over 1,800 public charge points - one of the lowest charger-to-EV ratios in the OECD.

“It's a classic chicken-and-egg situation. Companies are reluctant to invest in new charging infrastructure until there are more EVs on the road, while many people are hesitant to buy an EV until they know charging will be readily available.

“That's why we're taking practical steps to unlock greater private investment, expand the public charging network, and give New Zealanders the confidence they need to make the switch. It's another example of National fixing the basics and building the future,” Bishop said.

Private investment

The loan scheme is designed to reduce financing costs for operators building chargers in places where demand may take time to develop. In a network business, early utilisation rates can determine whether a site is viable or remains unattractive to investors.

The Government wants the private sector to lead most of the buildout, with public funding used to close gaps in the economics of new installations. Its target is roughly one public charger for every 40 electric vehicles by 2030.

Energy Minister Simeon Brown said the rollout should help ease concerns about the practical limits of owning an electric vehicle.

“New Zealanders will make the best choices for their own circumstances, as we are seeing with the greater uptake of EVs without unnecessary subsidies from taxpayers.

“With actions like loans for public EV chargers, the Government is helping provide the infrastructure and settings to broaden those choices.

“The additional funding will accelerate charger deployment and give the market greater confidence to invest.

“Concessionary loans lower the cost of capital and help overcome the challenge that charging infrastructure often needs to be built before demand is fully established.

“By partnering with the private sector, we're bringing forward investment, getting more chargers into communities sooner, and ensuring taxpayers receive good value for money.

“This is just one of a number of actions the Government is taking to encourage electrification in New Zealand and to give New Zealanders more control over their power bills and energy use,” Brown said.

Wider policy

The charging loans sit within a broader package of measures linked to electrification and household energy use. The Government is developing minimum standards for electric vehicle chargers so consumers can choose units that automatically charge overnight when power is cheaper.

Other measures include allowing rooftop solar installations on existing homes and buildings without a building consent, doubling export limits for households sending electricity back to the grid from 5kW to 10kW, and allowing most electric vehicle chargers to be installed in public places without consent through changes to national direction under the Resource Management Act.

Ministers also pointed to requirements for gentailers to offer time-of-use plans, work on a plug-in solar standard, and a plan to install rooftop solar on up to 500 schools.

For charging operators, the immediate focus is the next procurement round and the terms attached to the lending. With the first round set to deliver 2,574 charge points and a further $21 million now available, the Government aims to move the network beyond its current concentration in main centres and support wider national coverage.

Before the current programme, New Zealand's public charging network stood at just over 1,800 charge points. The target is 10,000 public charge points by 2030.