ACT zero-interest loans drive change among motorists

By Jackson Graham

December 7, 2021

Shane Rattenbury
Shane Rattenbury. (AAP Image/Mick Tsikas)

Canberrans looking to buy electric vehicles are being offered interest-free loans by the ACT government as it works towards a 2045 net-zero target. 

The loans of up to $15,000 will be for a small number of electric vehicle suppliers participating in the scheme, including at new and used electric vehicle dealerships. 

The government anticipates the suppliers will grow over time. 

Emissions reduction minister Shane Rattenbury said transport was the biggest contributor of greenhouse gas emissions in the ACT. 

“With two years free registration and zero stamp duty on emission-free vehicles already in place in the ACT, this initiative makes it even easier for Canberran households to reduce their emissions and take that next step,” Rattenbury said. 

The loans are part of the Sustainable Household Scheme, which also provides interest-free loans between $2,000 to $15,000 for rooftop solar panels, battery storage systems and other energy-efficient household installations. 

Chief minister Andrew Barr said the scheme was focused on reducing emissions, creating jobs and protecting local employment. 

“Our goal is to support more Canberra households to share in the benefits of a net-zero emissions future,” Barr said. 

The ACT’s decision to include electric vehicles in the interest-free loan scheme follows the federal government last month steering clear of subsidies that could drive down the costs of electric vehicles for consumers. 

A federal future fuels strategy instead focused on funding charging stations in homes and businesses, with prime minister Scott Morrison telling reporters the market would drive vehicle costs down. 

It followed a federal discussion paper on the strategy that argued government subsidies for ownership of electric vehicles did not give value for money.


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