Australian EV owners can save as much as $1900 a year by taking advantage of the three hours of free electricity available each day under the federal government’s Solar Sharer Offer, new modelling shows. 

The offer, which started on July 1 this year, forces power retailers to offer at least one plan that includes three hours of free electricity per day, capped at 24kWh. The discount is made possible by Australia’s daytime solar power surplus, which occurs around the middle of the day.

2

That means EV owners who can charge at home at that time are able to shave a significant amount off their power bill, according to modelling by the Institute for Energy Economics and Financial Analysis (IEEFA). Its numbers show that households with one electric vehicle can save up to $800 a year, rising to $1900 for homes with two EVs.

“If you’re able to charge that EV in the middle of the day, you can take advantage of the free power period and lower the running costs even more [compared to petrol and diesel cars],” said IEEFA energy analyst Jay Gordon.

“If, of course, you’re a larger household that had two EVs – and we know the majority of Australian homes do have more than one vehicle – you could be seeing double those savings, so you’re easily exceeding $1000 a year on that regulated solar sharer offer.”

According to federal government figures, Aussie EV owners charge their cars at home around 80 per cent of the time, meaning the offer should be wildly popular. The discount is available regardless of whether you own or rent, and you don’t need to have solar panels installed at your residence to qualify for it. 

3

However, it does come with a catch: it’s not currently available right across the country. The offer only applies to eligible households in Default Market Offer areas, where customers aren’t as able to shop around for better deals. This means only NSW, South Australia and south-east Queensland qualify.

The period of free power differs depending on your location, too. In NSW and south-east Queensland it’s 11am to 2pm, while South Australians can access it from 12pm to 3pm. You’ll also need a smart meter installed at your residence in order to qualify, and you’ll need to opt in to access the offer.