Electric Vehicle Grants
Privately Purchased Electric Vehicles
So you are ready to make the leap to a full electric vehicle but you are not sure what incentives and grants are available to you? Well let us try break it down for you. Aside from the discounted annual road tax of €120 there is a maximum grant of €5,000 available for qualifying new battery electric vehicles (BEVs) when purchased privately through our trusted DoneDeal Dealer network. This grant will remain in place until July 1st 2023 where it will then be reduced to €3500. Approved EVs with a List Price of less than €14,000 do not qualify for a grant but then again there isn’t exactly many if any EV’s in this price range. On the 1st July 2021 there was a cap of €60,000 placed on the full price of all vehicles.
This is the full price of the vehicle to the customer including all optional extras, paint and delivery but excludes any incentives such as grants or rebates. The grants come in a staggered payment system depending on the cost of your new EV, which you can see in the image below. This is the full non-discounted price in the absence of VRT relief or grant support. It is worth noting most new electric vehicles listed on DoneDeal are inclusive of the appropriate grants because dealers tend to quote inclusive of the available supports. They also apply on your behalf for the grant taking the stress away.
Commercially Purchased Electric Vehicles
Business owners will be happy to see the SEAI provides grant supports towards the purchase of new N1 category electric vehicles for business and public entities. These N1 category vehicles are typically small goods carrying vans with a technically permissible maximum mass not exceeding 3500kg. Take for example the Renault Kangoo or Peugeot Partner. The maximum grant of €3,800 is available for qualifying N1 category BEVs when purchased commercially again through our trusted dealer network. Approved BEVs with a list price of over €60,000 or less than €14,000 will not receive a grant. Like privately purchased cars these grants apply to new vehicles only and cannot be claimed on the many used vehicles listed on our website. The grant level again depends on the list price of the vehicle without any discounts and in the absence of VRT relief or grant support.
A Note To Dealers
If you are one of the many trusted dealer partners we have here in DoneDeal it is worth noting that the EV Scheme grants are classed as de minimis state aid and therefore are subject to the 3 year €200,000 ceiling. Dealers will be asked to complete a de minimis declaration within the grant application form.
Accelerated Capital Allowance
Another incentive to be aware of is that electric vehicles and EV charging equipment can also qualify for the Accelerated Capital Allowances (ACA). This ACA scheme allows a sole trader, farmer or company that pays corporation tax in Ireland to deduct the full cost of the equipment from their profits in the year of purchase. As a result, the reduction in tax paid by the organisation in that year is currently 12.5% of the value of capital expenditure. By contrast, the Wear and Tear Allowance provides the same tax reduction, but this is spread evenly over an eight-year period. For cars coming under the category “Electric and Alternative Fuel Vehicles” the accelerated allowance is based on the lower of the actual cost of the vehicle or €24,000.
Home Charger Grants
By now we have all heard of a home charging grant but how does it work? This is essentially a government backed support scheme assisting residents and homeowners to install an electric vehicle charge point at their property. The scheme provides a grant up to the value of €600 towards the purchase and installation of a home charger unit by a fully qualified electrician who is registered accordingly with Safe Electric Ireland. To receive payment, you must produce ownership evidence of an eligible new or second-hand electric vehicle but you can also apply and install your charger ahead of receiving the vehicle. Vehicles eligible for the Home Charger grant must be M1 Passenger Vehicles, which are either Battery Electric Vehicles (BEV) or Plugin Hybrid Electric Vehicles (PHEV). The vehicles may be new, second hand, imported or company owned or leased passenger vehicles. The main SEAI website offers a list of eligible vehicles. There are currently no grants available for apartment dwellers but Local Authorities can apply to install charge points on Public Street or public car parks, which provide overnight parking for local residents.
Are there any other incentives like toll bridges?
Yes under the 2020 Budget, funding was secured to support a reduced tolling scheme for low emission vehicles. The Scheme is referred to as the ‘Low Emissions Vehicle Toll Incentive (LEVTI) Scheme’. To participate in the Scheme, Eligible Toll Users must meet the following criteria within one of the three sub-categories:
Passenger Cars and Light Goods Vehicles
Small Passenger Public Service Vehicles (SPSV)
Heavy Duty Vehicles (HDV)
Participating Toll Tag Providers can be found on etoll.ie and once you are registered you will begin to enjoy discounted toll bridge crossings.
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