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Date: August 15, 2024
Inés Platini
By Inés Platini
Spain
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How to reduce the TCO of the electric vehicle? MITECO offers the solution

The Government will offer financial compensation for the purchase of an electric vehicle. What does this new measure entail? Below, Etienne Mingot, Business Development Manager for Electromobility at STX Commodities, explains it to Mobility Portal España.
How to reduce the TCO of the electric vehicle? MITECO offers the solution
Etienne Mingot, Business Development Manager for Electromobility at STX Commodities.

These are the new Energy Saving Certificate (CAE) cards that now include the possibility of settling these by replacing a conventional combustion vehicle with an electric one.

This change, promoted by the Ministry for Ecological Transition and the Demographic Challenge (MITECO), covers private cars, buses, vans, trucks and light motor vehicles.

These must be new or have been registered for the first time before January 25, 2023. 

They can be acquired directly or through financing operations by leasing or renting.

Etienne Mingot (STX Commodities).

In this regard, Etienne Mingot, Electromobility Business Development Manager at STX Commodities, explains to Mobility Portal España:

“The implementation of this energy efficiency program is a significant step towards promoting electric vehicles by reducing their total cost of ownership (TCO) and improving their market attractiveness.”

A car’s TCO includes not only the purchase price, but also usage, fuel consumption, maintenance, insurance and depreciation. 

The International Energy Agency estimates that it could take up to seven years for electric cars to become equal in cost to combustion cars. 

According to the expert, these chips not only benefit individual owners, but also contribute to broader environmental goals and energy savings.

How does this system work? It is based on measuring energy savings in kilowatt hours (kWh) per year. 

This calculation is made taking into account both the fuel consumption of the old vehicle and that of the new electric vehicle, as well as the annual mileage. 

The formula used takes into account the type of propulsion of the previous car and converts it into kWh, allowing a standardized comparison between both cars.

What requirements must be met to obtain the CAE?

Applicants must submit completed forms, proof of ownership of the old car for more than one year and invoices for the new zero-emission car. 

Additional documents may include technical specifications and certifications of the vehicle, especially for special categories such as gas buses.

According to the Business Association for the Development and Promotion of Electric Mobility (AEDIVE), the CAEs are compatible with the aid from the MOVES III program, from the Next Generation Fund.

This is because they are financed by the National Energy Efficiency Fund, but with the additional advantage that the owner who purchases the car “would obtain payment of the CAE almost immediately.”

The system, regulated by Royal Decree 36/2023, also makes it easier for companies to meet their energy saving commitments in a flexible and effective manner, encouraging investment in energy efficiency in sectors that consume final energy. 

This approach includes 62 new data sheets in the catalogue, covering technologies for electrification and decarbonisation in building air conditioning, the public sector, transport, among others.

These cards are part of the five sectors of the National Integrated Energy and Climate Plan (PNIEC): Agriculture (2), Industrial (28), Tertiary (36), Residential (43) and Transportation (5)

Of these, 15 take into account whether the initial beneficiary is an energy-vulnerable consumer.

Since the CAE System came into force in November 2023, more than 196,000 megawatt hours per year of energy savings have been requested, equivalent to the consumption of approximately 60,000 homes. 

STX is fully committed to this initiative and supports car manufacturers, fleet managers, charging station operators and leasing companies in obtaining these CAEs before ensuring their commercialization,” Mingot explains. 

The solution is designed to be turnkey and easy to integrate into the commercial offerings of the company’s partners.

As one of the world’s leading traders of environmental commodities, the firm provides advice in countries such as Germany, the Netherlands, Belgium, Austria and France, in addition to Spain.

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