Irish fuel prices have rocketed in recent months. Thanks to the cost of living crisis, many of us were already feeling the pinch, with unprecedented price hikes for petrol and diesel. Compared to this time last year, drivers are shelling out more than a third at the pumps. For many, these continued price rises are making car ownership unviable. If you’re looking to weather the storm, there’s never been a better time to consider replacing your current vehicle with an electric one. Although initial outgoings for a new vehicle and EV chargers can seem overwhelming, those motorists prepared to make the switch can benefit from far greater price certainty in the long run and help tackle the rising fuel prices Ireland is facing.
Irish Fuel Prices: Why Are Petrol Prices Going Up?
As of March 2022, the average fuel price per litre in Ireland stands at more than €1.81. This is a stark increase in fuel costs from March 2021, when a litre of diesel would have set you back around €1.32. In many parts of the country, even higher premiums can be encountered, with some stations charging more than €2 per litre.
Fuel costs are ultimately determined by the price of crude oil and wholesale prices have been on an upward trajectory since the start of 2021. The most significant price shocks have been seen in the past six months, with households and haulage companies particularly hard hit. It’s not just the cost of crude oil that is driving up Irish fuel prices. Due to carbon tax initiatives, more than 60% of the pump price goes directly to the government. Recent sanctions imposed on Russian oil and natural gas imports have further added to the issue of rising costs.
The upward trend in fuel prices is encouraging more people than ever to consider swapping out their petrol and diesel engines for all-electric alternatives. However, even then, the climbing cost of energy bills is forcing homeowners to be savvier when it comes to their day-to-day electricity usage.
Making the Switch to an Electric Vehicle
Investing in an electric vehicle is a surefire way of safeguarding yourself against spiking diesel and petrol prices in Ireland. Furthermore, all-electric vehicles are good for the environment.
In 2021, the government laid out its Climate Action Plan. This package of initiatives was designed to tackle climate change head-on. This plan aims to reduce domestic greenhouse gas emissions by more than half by the end of the decade. The ultimate goal is to achieve net-zero emissions by 2050. One of the key elements of this plan is getting more electric vehicles on the road. By 2030, The Climate Action Plan aims to get more than 930,000 electric vehicles on Irish roads. Provided these EVs are being charged with electricity produced from clean and renewable sources, this will go a long way in ensuring Ireland achieves its ambitious climate goals.
Average Running Costs of an Electric Vehicle
Including hybrids, it is estimated there are currently more than 45,000 electric vehicles in Ireland. New registrations for electric vehicles stood at 8,646 in 2021, more than double the number registered in 2020.
If you’re looking to keep fuel costs in check, opting for Zappi charger Ireland installation makes complete sense. If you use current forecourt prices as a guideline, it would cost around €100 to fill up a 55-litre tank with diesel. By contrast, fully charging an electric car battery at home shouldn’t set you back more than €10. Furthermore, many all-electric vehicles use something called regenerative braking. This innovative technology utilises the kinetic energy of the vehicle, using it to replenish battery reserves to save you even more money on recharging.
Many people have resisted switching to electric cars under the assumption that battery capacities make long journeys unfeasible. However, the best electric car models currently available can manage distances of more than 550 kilometres.
Other Key Benefits of Electric Vehicles
Transitioning to an all-electric vehicle is an effective way of reducing your carbon footprint. Furthermore, you can look forward to dramatically reduced maintenance and running costs. Unlike vehicles with combustible engines, there are far fewer components that need to be replaced and serviced over time. This makes electric vehicles a sensible investment for those looking to minimise ongoing expenditure.
The outlying cost of replacing your current car with an electric vehicle also doesn’t have to be considerable. Currently, the Sustainable Energy Authority of Ireland (SEAI) offers a variety of electric vehicle grants for motorists looking to make a change. The SEAI offers grants for both private vehicles and commercial fleets, as well as support for those looking to install charging points for EVs.
Why You Should Think About Installing an EV Charger at Home
If you’re ready to say goodbye to rising Irish fuel prices for good, you’ll need to think about EV charger installation. Many drivers of electric cars rely solely on public EV charging stations. However, depending on where you’re based, commercial charging points aren’t always practical.
Thankfully, having a domestic EV charger installed at home couldn’t be simpler. At Wizer Energy, we specialise in EV charger installation services. Once you have a domestic charging point at your disposal, you’ll never need to worry about finding a charging station again. Simply connect your car to your charger in the evening and, come the morning, your battery will be fully replenished.
EV charger owners can also look forward to significant cost savings. According to current price guidelines, it’s estimated that the average motorist driving around 20,000 kilometres a year shouldn’t expect to pay more than €22 a month to keep their EV on the road.
EV chargers can also be combined with domestic and commercial PV systems, allowing you to keep your electric vehicle charged using clean and renewable energy sources. Not yet kitted out with solar panel technology? Not to worry. Since 2015, we’ve been the go-to provider and installer for solar panels Ireland.
Now is the Time to Embrace Electric Vehicles
There’s never been a better time to embrace the EV revolution. With fuel prices already at a record high and only expected to soar further, saying goodbye to petrol and diesel makes total sense. Furthermore, EVs are inexpensive to run. Maintaining an electric vehicle costs only a fraction of what filling up a full tank at the forecourt will. In addition to affordable running costs, newer electric cars don’t disappoint when it comes to driving range.
The overall cost of switching from combustible engines to electric vehicles isn’t as considerable as it once was. SEAI grants are readily available, helping mitigate the cost of purchasing an EV and installing charging points at home or your place of business.
If you’re eager to embrace an eco-friendly way of driving, there are few better ways to reduce your carbon footprint than embracing all-electric vehicles. This is even more true if you combine EV charging points with solar panel technology. By charging your vehicles with renewable energy, you’ll be helping realise the net-zero goals of the 2021 Climate Action Plan.
Contact Us Today
Ready to go all-electric? Get in touch with the team at Wizer Energy today, and we can talk you through all the EV charger options available to you.
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