Electric Vehicles Grants & Incentives | Spirit Motor Group

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Reasons To Buy An Electric Vehicle

Thinking of making the switch to an electric or hybrid vehicle? There are many reasons why choosing an electric or hybrid vehicle is great for not only the environment but also your pocket. With more choice than ever across all car manufacturers, it is easy to see why electric vehicle sales for 2020 were up 16% on the previous year.

Making the big switch from diesel or petrol to hybrid or fully electric has become easier. One of the main incentives for car owners being the potential financial benefits associated with choosing to go electric.

Over the lifetime of your car, you will see the savings add up. This is in part due to electric vehicles being cheaper to service, thanks to few moving parts, and cheaper to fuel. With electric vehicle owners potentially saving as much as up to 70% on fuel costs when compared to diesel or petrol drivers.

But there are also several upfront savings that can make the decision to switch more compelling.

  • Annual motor tax for Battery Operated Vehicles (BEV’s) will cost €120 per annum (minimum rate).
  • Annual motor tax for Plug-In Hybrid Electric Vehicles (PHEV) will cost €170 per annum (should have CO2 emissions circa 60 g/km or lower, NEDC-2).
  • Both BEV and PHEV drivers benefit from the Low Emissions Vehicle Toll Incentive which is currently due to run until December 31 st, 2022. Under this incentive, BEV drivers will receive a 50% discount and PHEV drivers will receive a 25% discount at tolls in Ireland.

What You Need To Know About Grants

There are also several grants available for anyone looking to purchase a new electric vehicle. These grants are provided by the SEAI and apply to both BEV and PHEV.

The SEAI is also providing support to anyone wishing to install a home charger unit with a grant of up to €600 available for both new and used EV vehicles.

Vehicle grants depend on the list price of the vehicle, for example, a vehicle with a list price between €14,000 to €15,000 gets a €2,000 grant while vehicles listed over €20,000 will get a €5,000 grant.

Following the introduction of WLTP figures as the basis for new vehicle taxation bands in 2021, the vehicle performance qualification criteria for the SEAI EV Grant Scheme are also being adjusted. Meaning that vehicles must meet new criteria to be eligible under the SEAI grant scheme. These changes will take effect from January 1 st, 2021.

There is a moratorium on the implementation of these new criteria so if you apply, and get approved, for the SEAI grant before the end of June you are still able to get the vehicle that you have applied for even if it falls into a new WLTP band come July 1 st.

If you wish to learn more about electric and hybrid vehicles about how they can fit into your lifestyle, Spirit Motor Group is here to help.

Contact us today to talk to our team of EV experts.t

XC60 Hybrid