IRELAND has set a target to have 945,000 electric vehicles on the road by 2030.
As a result of this ambitious goal, thousands of people across Ireland can now benefit from a grant between €1,500 and €3,500 to reduce the financial impact of purchasing an EV.
Grants of up to €3,500 are currently available to aid with the purchase of new privately-owned electric vehicles.
However, motorists have been warned that the grant will only apply to one of the two different kinds of electric vehicles on the market.
An EV has an electric motor that is powered by a battery which is charged by an external source of electricity.
Battery electric vehicles, also known as BEVs, are powered by battery only while hybrid electric vehicles have an engine and electric motor.
Battery electric vehicles are powered by battery while hybrid electric vehicles are fuel-powered and rely on petrol and diesel.
And it has been confirmed that motorists can only apply for the new grant from the Sustainable Energy Authority Ireland if they buy a battery-powered electric vehicle that meets specific standards.
The grant for BEVs only applies to new cars with a full price of between €14,000 and €60,000.
The car dealer will apply the grant for the driver when they are purchasing the vehicle, and then deduct the grant amount from the total price of the car.
The SEAI confirmed that €3,5000 is the maximum grant available for qualifying new passenger car BEVs when purchased privately.
Approved EVs with a full price of more than €60,000 and less than €14,000 will not receive a grant.
The full price of the vehicle to the customer includes all optional extras, paint, delivery and any other chargers but excludes any incentives such as grants or rebates.
And although there was previously a grant of €2,500 for plug-in hybrid electric vehicles on offer, it has been removed.
HOW MUCH IS THE GRANT?
The grant amount will depend on the list price of the vehicle.
A vehicle that costs between €14,000 and €15,000 will provide the minimum grant of €1,500.
Those who spend between €15,001 and €16,000 will receive €2,000 of the price of the vehicle whilst a car costing between €16,001 to €17,000 will see a total of €2,500 taken off the final price.
A vehicle priced between €17,001 and €18,000 qualifies for a €3,000 grant.
The largest amount that an electric vehicle qualifies for is €3,500, which applies to cars that cost between €18,001 and €60,000.
HOW TO APPLY & CATCH IN SCHEME
To apply for the scheme, you must first choose a make and model of electric vehicle.
The SEAI advise heading to a dealer, taking the vehicle for a test drive and asking questions about the cars performance before purchasing it.
The dealer will apply for the grant for you when buy an eligible electric car.
The grant amount is deducted from the total price agreed for your new car.
However, there is a catch to the system.
The SEAI has confirmed that the little-known grant is not available for used/second-hand electric vehicles.
