Reduced Toll Fares for Electric Vehicles
Transport Minister Shane Ross has today announced details of a new tolling incentive regime for electric vehicles (EVs). The scheme, which will begin this summer, will be available to the first 50,000 electric vehicles equipped with an electronic toll tag and will initially run up until the year 2022.
From early summer, new and second hand EV drivers will be able to avail of discounted rates across a number of toll roads. There will be a 50% toll discount for battery electric vehicles (BEVs) and a 25% toll discount for plug-in hybrid vehicles (PHEVs).
Speaking today the Minister said
I was delighted to secure funding as part of Budget 2018 to put in place this new tolling incentive for EVs. This will bring additional savings to EV drivers giving them significant reductions off of the price of their toll journey. We hope that for some, this prospect may be enough to tip the balance in favour of buying an EV.
Analysis shows that a commuter using the M50 twice daily, five days a week, for 48 weeks a year can accumulate just over €1000 worth of tolls annually. This incentive will mean major savings for an EV driver, particularly if the journey is done outside M50 peak hours where a higher 75% discount will apply.
Drivers who make the switch to EVs also benefit from Government purchase incentives up to a value of €10,000 (€5,000 VRT relief and €5,000 SEAI grant), a €600 SEAI home charger grant scheme, qualify for the lowest band of road tax (€120 per annum), and access to an extensive network of public chargers which are presently free to use. Additional incentives include a Benefit in Kind (BIK) 0% rate and tax incentives under the Accelerated Capital Allowance (ACA) Scheme.