MONEY MATTERS
Can you really make savings by switching to an electric vehicle? Megan Martin finds out
Idon’t claim to be a clairvoyant, but I can see into the future and it is electric. Sales of new electric vehicles in January and February this year were almost 2,900, up 63% on the same two-month period last year despite Covid restrictions closing showrooms around the country.
Whether you go easy or make a hopeless attempt at hanging on to fossil fuels to the bitter end, it’s only a matter of time before we’ll all be financially incentivised enough to go electric.
As someone who still drives a diesel car and knows next to nothing about electric vehicles (EVs for those in the know), I decided to step over to the other side to see just how “green” the grass was.
As part of my investigative mission, I convinced the lovely folk at Volvo to lend me an electric car to test drive for a week. They opted for the super snazzy (which I believe is the official term) XC40
Recharge Pure Electric, a compact SUV in a darling shade of sage green.
Described as the “perfect car for those ready to commit to all-electric motoring,” I dove head first into the battery-operated pond and I’m here to tell you it was a journey.
As previously mentioned, Jeremy Clarkson I am not, so let me start with the superficial tidbits that I enjoyed endlessly.
1. All electric vehicles are automatic
This may be obvious to some but not to me. I hadn’t driven an automatic since my US road trip years ago so there was one potentially whiplash-inducing moment where I forgot to only use my right foot for both accelerating and braking.
2. Integrated google maps navigation
A big plus. Anyone who has had to rely on their car’s generic navigation system will know how thrilling this feature is. Whatsmore, the built-in route planner tells you if you have enough battery to reach your destination, and suggests all the nearest charging stations.
3. It’s very responsive
Don’t ask me how I learned this but, if you’re distracted in traffic, the car will prompt you to start driving. If you take your hands off the wheel it will alert you to put them back. When driving in cruise control it will automatically slow if a car moves in front, and return to the set speed once said car returns to their lane. It also has a mighty acceleration power. I was impressed.
How far can an
electric car travel?
One of my biggest concerns about an all-electric car was the fear of either breaking down on the side of the road while driving from Cork to Dublin, or having to sit in a service station for hours eating Burger King while waiting for the thing to recharge. I’m not sure which is worse.
For the XC40, however, it can travel 400km on a single charge. Which is about the distance between
Skibbereen, Cork, to Drogheda, Louth.
If you can find a fast-charging station along the way, you can also get from 0 to 80% battery in just 40 minutes. For regular charging stations, it takes about 90 minutes for an 80% charge.
How much cheaper is it to run?
The Sustainable Energy Association of Ireland (SEAI) estimates that a Nissan Leaf 40Kwh all-electric car driven 16,000km would use 3000 KWH of electricity and would cost €219 in electricity. (Based on night rates).
A new Ford Focus petrol car driven 16,000km would cost an estimated €1,580 in fuel over 12 months. (Based on a price of €1.369 per litre.)
So, compared to petrol costs, this is a saving of €1,361 per year. It means you could save a €4,000 difference within three years. People who drive more than 16,000km a year will save even more on fuel costs with an electric car.
Compared to petrol costs, this is a saving of €1,361 per year
Grants For Electric Cars
Home Charger Grant Scheme offers up to €600 towards the installation of a home charger.
A grant of up to €5,000 from the Sustainable Energy Association of Ireland (SEAI) for EVs costing between €14,000 and €60,000. Buyers can avail of up to €5,000 VRT rebate.
Toll price reductions of 50% for savings of up to €500 per year for daily M50 users.
Lowest rate possible of annual motor tax at €120 per year.
The major drawback for the XC40, and I think for many EVs, is the price. At €64,314 it’s expensive to say the least, and it also falls just outside of the Government’s new €60,000 limit to qualify for the SEAI grant.
Only new vehicles bought from an approved dealer can qualify for the grants. There are about 110 approved dealers and they handle the grant applications and deduct the grant from the price of the car.
Government grants are some of the main incentives when it comes to choosing to go green, so the fact the XC40 doesn’t qualify is off-putting.
In conclusion, I loved the car. I did not want to give it back.
It was a dream to drive and like any first love, it has ruined me for all others. The biggest takeaway was that I would seriously consider buying an EV for my next car. I’ll just make sure it’s under €60,000.