Providing adequate charging infrastructure is critical to ensure the continued growth in the uptake of electric vehicles. Businesses can already avail of accelerated capital allowances for the purchase and installation of electric vehicle charging infrastructure on their premises. This enables businesses to invest in energy efficient equipment, including electric charging infrastructure, and deduct the full cost of such equipment from their profits in the year of purchase rather than over 8 years.
This support is part of a range of supports available for the development of charging infrastructure which include a home charger grant of up to €600 to support the purchase and installation of a home charger for purchasers of electric vehicles and grants available to local authorities for the development of on-street public charge points. Funding of €6 million will be available in 2020 for these schemes.
In addition, under the first call for applications from the Climate Action Fund, I approved funding of up to €10 million which will support the ESB to develop a nationwide, state-of-the-art electric vehicle fast charging network, with the ESB also investing €10 million.