Electric Vehicle Grant? A Guide For EV Owners

Electric vehicle grant provided by the government has been a major determinant factor that has encouraged drivers to transition from diesel and petrol vehicles to electric vehicles. Electric vehicles have come a far way in terms of technological advancement, which has helped solve various customer worries. Furthermore, through electric vehicle grants, governments across the globe aim towards creating a net-zero carbon target, with an aim to slow the rate of global warming amongst various other benefits, including creating new skills and job opportunities by increasing Ireland’s car manufacturing, improving air quality.

How much does it cost to charge an EV?

In Ireland, the cost of charging an EV on average comes around 24c per kWh or €15 to charge the EV to full. Furthermore, for every 100km travelled, an Irish EV owner will pay around €4.97 in electricity costs. In other countries in Europe (Hungary and Iceland), the cost of charging an EV ranges from 10-13c per kWh. In addition, when compared, the rates in Ireland are much higher, making the country the fourth most expensive nation for EV charging, behind Belgium, Denmark and Germany.

Grants Available to Electric Vehicle Owners

1. Accelerated Capital Allowance (ACA) Tax Incentive

• It aims to promote investment in energy-efficient products and equipment.
• The grant allows businesses to reduce the full cost of the equipment from their profits in the year of purchase. In other words, the reduction in tax paid is by the government in that specific year is 12.5% of the current value of the capital expenditure.
• The tax grant is an opportunity for businesses to invest in electric vehicle charging points. In addition, for cars coming under the category “Electric and Alternative Fuel Vehicles,” the allowance is based on the lower of the actual cost of the vehicle or €24,000.

How do I claim the ACA tax incentive?

• Firstly, decide on the equipment.
• Secondly, ensure the equipment model is eligible for ACA by checking the Triple E product register before purchasing.
• Thirdly, claim the ACA through the company’s return of income form. In addition, there is now a field for ACA on the form beside the standard capital allowances entry field.

2. Electric Vehicle Purchase Grant

• The grant is made accessible for private and commercial electric vehicles.
• Plug-in hybrid and electric cars are both eligible to receive the grant.
• A maximum grant of €5000 is available to electric vehicles purchased privately, and €3800 is made available for commercial vehicles.
• Electric vehicles that come under the price list of €14,000 does not qualify for the grant.
• A concession of €2,500 can be claimed on vehicle registration tax as part of this grant scheme. In addition, for electric cars, a rebate of €5000 is paid back in full.

3. Electric Vehicle Public Charger Point Grant

• The grant is available for councils and local authorities to mount charging points to meet the needs of the local residents. However, this grant only applies to those who are able to install a charger on their own property.
• The grant covers 75% of the total cost of installing a charger and with a cap of €5,000 per single charging point.
• The government aims to increase the number of public charging points to eradicate the struggle faced by residents who do not have access to off-street parking.

4. Electric Vehicle Home Charger Grant

• It is solely for electric vehicle home chargers. Additionally, drivers who own second-hand electric vehicles can also avail the grant which would not be possible with the above-mentioned grants.
• Furthermore, SEAI provides a grant of up to €600 to purchase and install a home charger unit.

Am I eligible to receive the Electric Vehicle Home Grant?

• Any private owner who purchases an EV from 01/01/2018 is eligible to apply.
• The EV must be parked on an off-street parking location associated with the home, and the EV charger must be connected back to the fuse board of the applicants home.
• The Meter Point Reference Number (MPRN), which can be found on the electricity bill, will be used to confirm the home's location.
• The property cannot be associated with a previous EV vehicle grant and charge point.
• Do not commence any work before the start date specified on the Letter of Offer, or else this expenditure will be deemed ineligible, and you will not receive grant support.

How do I claim the SEAI grant?

1. Complete the SEAI’s online Electric Vehicle Home Charger grant application form. Meter Point Reference Number (the whole 11-digit number on the top of the electricity bill) and your home address Eircode will be required. Moreover, an application ID must be provided for a new EV, which is available from the car dealer. The EV dealer will also provide a hard copy.
2. Once the application is approved, a Letter of Offer will be issued, containing a set of terms and conditions and a payment request form.
3. When the Letter of Offer is received, six months is the time to complete the charge point installation.
4. A fully qualified electrician who has registered accordingly with Safe Electric Ireland can only perform the work.
5. After the installation, the Payment Request Form must be completed by both the electrician and the EV owner.
6. Electrician must provide you with a copy of Certificate Number 3. Please review it and ensure that everything is in order.
7. Post the Payment Request Form to the address indicated on the Form together with the following items:

• Fully signed and completed Payment Request Form and bank account details.
• Certificate Number 3.
• Copy of Test Record sheet from the electrician.
• Vehicle Registration Form (not required for a new car purchased in Ireland).
• Photographs of the installed charge point and the EV showing vehicle registration plate.

The electrician must send a fully completed copy of Certificate Number 3 to Safe Electric Ireland. We will check with Safe Electric Ireland on whether the relevant certificates are in order and that the electrician is fully approved and registered. Finally, once this is confirmed, the grant will be transferred to the registered bank account.

‍