Electric vehicle charging company ReadySteadyPlug has secured $1.51 million in funding from the Australian Renewable Energy Agency (ARENA) to accelerate the rollout of its EV Charging-as-a-Service (CaaS) in apartments and strata buildings across Australia.
The ARENA funding will see ReadySteadyPlug target the installation of up to 428 EV charge points and the associated infrastructure, as part of the rollout of its affordable, equitable and scalable Charging-as-a-Service (CaaS) solution for residential apartments.
Together with contributions from customers and ReadySteadyPlug, the ARENA support takes the overall funding for ReadySteadyPlug’s national roll out to $3.49 million.ReadySteadyPlug’s smart, pay-as-you-go solution eliminates two of the major barriers to EV charging in strata complexes—the upfront cost and electrical complexity.
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Compared to installing fast charging in every parking space, ReadySteadyPlug’s solution requires vastly reduced capital outlay from the owners corporation and no switchboard upgrades.
The ReadySteadyPlug platform enables charging via standard power outlets, combining smartphone access control, cloud-based metering and automated billing to deliver a simple and user-friendly Level 1 charging solution for apartment residents. The system also includes comprehensive Dynamic Load Management to ensure a building’s maximum electricity supply is never exceeded.
The funding for the project comes as a global fuel crisis is accelerating demand across Australia for EVs, with Australian EV sales hitting a record high in March.
“We know that a lack of access to charging infrastructure at home can be a huge barrier to EV uptake for the millions of Australians that live in apartment buildings. Our pay-as-you-go, affordable charging technology and infrastructure changes that, providing an accessible EV charging solution designed specifically for apartment buildings,” ReadySteadyPlug CEO Jukka Sintonen said.
“The benefit of ReadySteadyPlug’s approach is that it does not require a large, up-front investment from an Owners Corporation. Residents who don’t want an EV charging point don’t pay for EV charging infrastructure, or for the electricity they don’t use. EV owners can charge at home whenever it suits them, and the Owners Corporation gets reimbursed every quarter for the electricity used. It’s a model that works for the whole building, not just early adopters.”
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ReadySteadyPlug chief technology officer Dean Eislers said, “We’ve seen a surge of demand from strata complexes recently, and this support from ARENA means we can accelerate the rollout of our solution across Australia. With the recent uptick in EV sales, our solution can ensure Australians living in apartments also have the chance to enjoy the benefits of owning an EV.”
More than 4.2 million Australians live in strata complexes such as apartment buildings and townhouses—a number that has been growing steadily and is forecast to keep rising.
