The following information is accurate as of 16 October 2020
As the popularity of electric vehicles grows in Ireland, so does the attraction towards the financial perks. Whether you’re thinking of making the switch to an electric car, interested in installing EV chargers, selling electric cars or importing them, then you’ve come to the right place. With the help of financial aids and incentives from the Irish government and the SEAI, it has never been more budget-friendly to go electric. So, what exactly can you take advantage of and how do you apply? We break it all down for you in our complete guide to EV grants and incentives.
1 - VRT Rebate
Up until the end of 2021 (at least), owners of newly registered electric cars can avail of VRT (Vehicle Registration Tax) tax relief up to a maximum of €5,000. Check out Revenue’s website here for more info.
2 - Motor Tax
Motor tax for electric vehicles is cheaper than for diesel vehicles coming in at €140 for battery-operated vehicles (BEVs - from 1 January 2021) and under €170 for most plug-in hybrid electric vehicles (PHEVs). You can calculate your motor tax here.
3 - Cheaper Tolls
BEV and PHEV owners can enjoy discounts on their toll fees. Throughout the year this can mean up to €500 in toll savings across various Irish tolls with a 50 per cent discount for BEVs and a 25 per cent discount for PHEVs. This cap extends to €1,000 for commercially owned EVs.
4 - Benefit-in-Kind Tax
For commercial battery-operated electric vehicles such as company cars, owners don’t have to worry about paying the Benefit-in-Kind (BIK) tax. If you are driving a fuel-operated company car, you could face up to €2,000 per year in BIK, whereas you don’t have to pay anything for an electric car. This initiative is in place until 31st of December 2022. For more info, click here.
5 - Public Service Vehicle Grant
The national transport authority gives a grant of up to €10,000 for public service electric vehicles and up to €12,500 for wheelchair-accessible public service vehicles. Find out more here.
6 - ACA Tax Allowance
Accelerated Capital Allowance is a tax relief scheme that encourages the investment in environmentally-friendly forms of energy. This allows farmers, sole traders and businesses to subtract the full cost of energy-efficient equipment from their end of year profits. Find out more here.
1 - SEAI EV Grant Scheme
Eyeing up that electrifying Nissan Leaf? Enjoy up to €5,000 off its hefty price tag with the SEAI grant. It gives grants of up to €5,000 for both PHEVs and BEVs alike and up to €3,800 for commercial vehicles. As long as you’re purchasing a new EV and its listed price is above €14,000, you’re good to go. To secure your EV grant, you can do so through the dealership itself. Find a list of eligible cars here.
2 - EV Domestic Charger Grant
Redeem up to €600 of the buying and installation fees for your at-home charger with this SEAI grant. To qualify for this sweet deal, you need to be the owner of a new or used EV bought after January 1st 2018, the car needs to be parked in a driveway, with the charger linked to your fuse board and, finally, your home can’t be connected to a previous EV charging grant. Find out more info here.
3 - EV Public Charging Grant
Local authorities and county councils who would like to introduce charging points in areas like car parks and public streets can apply for this scheme. For each charger installed, up to 75 per cent of the costs are covered by the SEAI grant up to a maximum of €5,000 per charging point. You can learn more about the SEAI public charging grant here.
4 - EV Dealership Grant
If you’re an EV seller, you can apply for a grant on your customer’s behalf with the dealership scheme. To join, you’ll need to be ‘nominated’ by your vehicle importer to take part in the scheme. For dealers who sell multiple EV brands, you’ll need to be authorised by each vehicle importer. If you want to know more, click here.
5 - EV Importing Grant
If you are a registered importer of electric vehicles, you can also join the SEAI EV grant scheme. By joining this programme, you’ll be able to put forward your chosen dealerships and EVs for the scheme. In order to apply for this role, your EV models need to meet specific criteria such as tax and insurance credibility etc. You can find out more about the application process here.
TSG Charge is a leading provider of EV-charging consultation, installation, maintenance and support services for workplaces, electric fleets, retail, hospitality and more. To enquire about fitting EV charging stations for your business, visit TSG Charge today and get in touch.