The Sustainable Energy Authority of Ireland (SEAI) issues grants towards the purchase of Electric Vehicles in Ireland. But from the 1st of July this year, the amount will be decreasing. However, the good news is that supply of EVs across the country is much improved.
What is the SEAI grant?
The SEAI grant was introduced in Ireland to incentivise the purchase of Electric Vehicles over the last decade or so. With the typically higher prices of EVs, it allows consumers to bridge the gap in upfront costs a little easier. After that point, motorists can take advantage of lower running costs.
It is worth noting that VRT relief on the purchase of an EV is calculated separately. You can find out more about that here. There are also separate grants for commercial vehicles, taxis and the installation of chargers.
How much is the SEAI grant?
The grant amount varies depending on the value of the car that you are buying. The grant starts off for vehicles valued between €14,000 to €15,000. The amount granted is €2,000. The figure then rises up to €5,000 for vehicles valued between €20,000 and €60,000. The table below shows the full breakdown, and also shows the lower amounts from the 1st of July 2023.
When is the SEAI grant for EVs changing?
The SEAI grant for EVs is due to go down from the 1st of July 2023. However, don’t panic yet! You don’t necessarily have to take delivery of your new EV that soon. Grant applications received before 1st of July 2023 that are matched to a car by your dealer may well be eligible.
So the key is to get into your local dealer to place your order. They will look after all of the details and grant applications on your behalf. You can take delivery of that car up to four months after the 1st July 2023 as long as your application was put in and approved.
Is there enough EVs?
Up until recently there was a serious shortage of EV supply in Ireland. In fact, some manufacturers had lead times that stretched beyond a year! There are some people that ordered a car last year and are still waiting for it!
However, supply is coming back, and waiting lists are easing off. After a couple of years of poor supply, many people are now under the impression that you can’t get the EV you want. However, allocations to dealerships are much stronger now. Some cars such as the Kia EV6 had waiting lists of many months up until recently. But that has all changed and you can expect to see many EV6s with 232 reg plates over the coming weeks.
Do all EVs get the SEAI grant?
Not all EVs get the SEAI grant. As you saw in the table there is a cut off point of €60,000. The interesting thing is that some models of car may miss out on the grant depending on how you spec it up.
Let’s take the example of the Kia EV6 that we had on test this week. It’s an excellent machine, and we have featured it on our YouTube channel twice now. The first was Paddy’s great review of the monstrously fast GT version. We also interviewed an EV6 owner in this video.
The test vehicle we had is the basic spec level called ‘Earth’. When we say basic, it’s anything but! It still has great range, comfort, charging, tech and space inside. Its priced at €59,950...fractionally under the grant cap. So with your €5,000 grant you only pay €54,950. However, if you decide to buy the GT-line spec of the Kia EV6, then the price is €65,650. But you don’t get the grant because it’s above the threshold. So you pay the full price.
Want to know more about EVs...then you’re in luck! Check out our 6-part series on YouTube all about buying an EV in Ireland.
And if you need to renew your car insurance in the coming weeks, then be sure to contact us for a quote!