Key Takeaways

• ReadySteadyPlug has secured $1.51 million from ARENA to enhance EV charging in Australian apartments.
• The funding will support the installation of up to 428 EV charge points, facilitating greater EV accessibility.
• ReadySteadyPlug’s pay-as-you-go system minimizes costs and complexity for homeowners and apartment residents.

Funding and Growth for EV Charging

ReadySteadyPlug, an electric vehicle (EV) charging company, has successfully acquired $1.51 million in funding from the Australian Renewable Energy Agency (ARENA) as part of its initiative under the Driving the Nation Program. This financial boost aims to expedite the deployment of its EV Charging-as-a-Service (CaaS) model in apartments and strata buildings throughout Australia.

With the support from ARENA, ReadySteadyPlug plans to install up to 428 EV charge points along with the necessary infrastructure. Combined with contributions from customers and the company itself, the total funding for this national rollout amounts to $3.49 million. The innovative CaaS solution tackles two significant hurdles in residential EV charging: high upfront costs and electrical complexity. Unlike traditional fast charging installations in every parking space, the ReadySteadyPlug model requires a substantially lower capital investment from Owners Corporations and avoids the need for costly switchboard upgrades.

Utilizing standard power outlets, ReadySteadyPlug offers a user-friendly Level 1 charging solution that includes smartphone access control, cloud-based metering, and automated billing. Additionally, the service features Dynamic Load Management to prevent exceeding the electricity supply limits of individual buildings.

Amid a growing global fuel crisis, demand for EVs in Australia is skyrocketing, evident from record high EV sales recorded in March. Jukka Sintonen, CEO of ReadySteadyPlug, noted that the lack of home charging infrastructure has hindered EV adoption for many residents in apartment buildings. He emphasized the affordability and accessibility of their charging solution, which allows residents to pay solely for what they use, while Owners Corporations incur no upfront costs.

Dean Eislers, the company’s CTO, highlighted an increased demand from strata complexes and the importance of the ARENA funding in facilitating a swift expansion of their services. This initiative aims to ensure that all apartment residents can enjoy the benefits of owning an EV, not just those who had previously invested in charging infrastructure.

Darren Miller, CEO of ARENA, acknowledged the project’s potential to address a critical gap in Australia’s EV charging network. He stated, “For millions of Australians living in apartments, the absence of simple, affordable charging at home remains a real barrier to electric vehicle adoption.” The funding aims to present cost-effective and simple installation solutions that can serve as a replicable model for other strata and apartment communities.

The typical Australian driver covers an average of 30 kilometers per day, and a standard 10-hour overnight Level 1 charge can deliver up to 200 kilometers of range—sufficient for a week’s worth of travel for most individuals. Given that over 4.2 million Australians reside in strata complexes, ReadySteadyPlug’s initiative, backed by ARENA, seeks to eliminate residential barriers to EV ownership and usage, paving the way for a more sustainable future.

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