Subsidy scheme for electric and hybrid vehicles
Since 1994, the Government has been encouraging the use of clean energy vehicles in the Principality, in particular by granting purchasing subsidies. The Government wished to adapt the scale of subsidies to take account of the increased availability of hybrid versions, as this had led to the granting of subsidies to vehicles that cause too much pollution. With this in mind, the State took note of incentive schemes in operation in neighbouring countries, especially in France. It also demonstrated a more proactive policy, modifying these policies to suit the needs of Monaco – a step that continues to favour electric technology.
In this new scheme, subsidies for electric vehicles are still 30% of the purchase price including all taxes, with a ceiling of 9,000 Euros. There is a ceiling of 3,000 Euros for two-wheeled vehicles.
Electric vehicles also benefit from specific advantages, such as free recharging at the 574 charging points in public car parks, and at the fast and semi-fast charging points on public roads: at the lower end of Rue Grimaldi, on Place des Moulins and at 24 Avenue de Fontvieille (in front of the Single Buoy Mooring building). They also have their own special identification, "VE" (for véhicule électrique - electric vehicle), which offers free on-street parking in Monaco and a free annual sticker.
Hybrid Vehicles (hybrid electric/petrol)
Subsidies for hybrid vehicles are rather more complex, because they take both hybrid technology and CO2 emission levels into account. This subsidy therefore excludes vehicles that emit more than 110 gr of CO2 per kilometre. On the other hand, for a mild-hybrid vehicle, i.e. a vehicle with an electric motor and an internal combustion engine that operate at the same time, which emits between 51 and 110 g of CO2 per km, the subsidy is 2,000 €. It is increased to 3,500 € if the vehicle emits less than 50 g of CO2 per km. For a full-hybrid vehicle, with the ability to move around using only electricity, the subsidy is 3,500 € if it emits between 61 and 110 g of CO2 per km. It is 5,500 € if the vehicle emits less than 50 g of CO2 per km. For "Plug-in" rechargeable hybrid vehicles, the subsidy is 8,000 if it emits less than 20 g of CO2 per km, 6,000 € if it emits between 21 and 50 g of CO2 per km and 5,000 € if it emits between 51 and 60 g of CO2 per km. Finally, for hybrid two-wheeled vehicles, the purchasing subsidy is fixed at 800 € if the vehicle emits less than 47 g of CO2 per km. No subsidy is granted above this level.
Further information and requests for subsidies: Obtaining a subsidy for the purchase of an electric vehicule