Zero Emission Vehicles Ireland has a target under the Climate Action Plan 2023 to have 30% of our private car fleet switched to electric by 2030
VRT Relief
This was due to expire at the end of this year, but has been extended for a further two years out to the end of 2025. This means EVs with a value of €40,000 will continue to pay no VRT, while the tapering relief between €40,000 and €50,000 also remains in place.
SEAI Electric Vehicle grant
Up to €3,500 towards the purchase of a new BEV. Previously this amount was €5,000.
EV Home Charger grant
A grant from SEAI to support the installation of a home charger. Claim up to €300 towards the purchase and installation of an electric vehicle home charger unit. You don't have to own an EV go install a home charger. Funding for the EV Home Charger scheme is provided by Zero Emission Vehicles Ireland (ZEVI) based in the Department of Transport. SEAI operates this grant scheme on behalf of ZEVI. (Previously, the grant was €600).
The apartment charger grant assists residents and owners of apartments and other multi-unit developments who want to install a home charger for their Electric Vehicle (EV) and which are not covered by the pre-existing grants. The grant is designed for bulk installation of chargers at a single location, and supports cabling, infrastructure, labour, and construction costs. Owners’ management companies, housing bodies, local authorities, commercial and private landlords can apply.
0% Benefit-in-Kind (BIK)
Certain Benefit-in-Kind (BIK) exemptions and discounts are available where the car made available to your employee is an electric car. Electric cars are cars that get their motive power from electricity only. Hybrid cars do not qualify as electric cars. The treatment applies to both new and used cars.
You may choose to make an electric car available to your employee for private use in the future. Partial relief will apply in respect of electric cars made available between 1 January 2023 and 31 December 2027. This relief applies by reducing the Original Market Value (OMV) of the vehicle. The reduction which applies is as follows:
€35,000 in respect of cars made available during 2023, 2024 and 2025
€20,000 in respect of cars made available during 2026
and
€10,000 in respect of cars made available during 2027.
Where the relief reduces the OMV to nil, a BIK charge will not arise. Any OMV in excess of the reduction is liable to BIK in the usual manner. For 2024, an additional reduction of €10,000 can be applied to the OMV. There will be futher reductions in the next 2 years. See revenue for full details.
ACA - Accelerated Capital Allowance
The Accelerated Capital Allowance (ACA) is a tax incentive scheme that promotes investment in energy efficient products and equipment. The ACA is based on the long-standing 'Wear and Tear Allowance' for investment in capital plant and machinery, whereby capital depreciation can be compensated through a reduction in an organisation's tax liability. 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. ACA scheme.
Motor Tax
Lowest rate of motor tax at €120 for BEVs.
Grants for taxis, hackneys, and limousines (SPSV)
If you drive a small public service vehicle (SPSV), you may get a grant from the National Transport Authority (NTA). Grants of up to €20,000 or €25,000 for wheelchair accessible EV’s are available. The amount of the grant you get depends on the car’s age, specifications, and mileage. You can find out more information on the National Transport Authority website.
A maximum grant of €3,500* is available for qualifying new M1 (passenger car) battery electric vehicles (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.