What are the main incentives to buying an electric car?
Even though electric cars only make of 1.5% of all vehicles on the road in Ireland, the Irish government has ambitious plans to increase the amount of electric cars to 10% by 2020, with a target of ending the sales of cars powered only by fossil fuels by 2030.
Here are the incentives for buying an electric car in Ireland:
- Purchase grant: Privately purchased electric vehicles with a list price of at least €14,000 are eligible for a purchase subsidy of up to €5,000.
- Registration tax: All electric vehicles qualify for a VRT (purchase tax) subsidy of up to €5,000.
- Ownership tax: The lowest possible rate for motor tax of €120 is offered to electric vehicles.
- Company car tax: The Accelerated Capital Allowances for Energy Efficient Equipment Scheme allows companies to write off 100% of the purchase price of electric vehicles and plug-in hybrids.
- Infrastructure incentive: The government offer a €600 grant to help cover the installation of a home charger see our blog post for more details
What does it cost to charge my electric car?
Currently, the average electricity fee at night is about €0,095 per kWh in Ireland (consumer rate).
Let’s say your electric car has an empty battery and approximately 40 kWh capacity. Depending on your driving style, your car should be able to reach approximately 280 to 320 km on a single charge.
Charging your electric car would cost a total of 40 x 0.095 = €3.80. This means that the power consumption per 100 kilometres is just around €1.24-1.28.