Yearly Benefit: Owners of Electric Vehicles Secure Funds from the GST Pool
In Germany, electric vehicle (EV) owners can take advantage of the THG (Treibhausgasminderungsquote) bonus, a government incentive designed to reduce greenhouse gas emissions in the transport sector. Here's a simplified guide on how to claim this bonus:
- Registration: EV owners register their electric vehicle with an authorized THG bonus provider or platform. This often involves submitting vehicle registration documents and personal identification.
- Verification: The provider verifies that the vehicle is fully electric and eligible for the THG bonus according to government criteria.
- Assignment of Emission Savings: The EV owner assigns their emission savings rights (the reduced CO₂ emissions from driving electric versus fossil fuel vehicles) to the provider, who aggregates these savings.
- Claim Submission: The provider submits the aggregated emission rights claims to the relevant authorities (usually tied to the German greenhouse gas quota system).
- Payment: Once the claim is approved, the EV owner receives the THG bonus payment, often directly from the provider as a monetary incentive.
Notably, companies such as Daimler Truck Financial Services offer THG bonus management as part of leasing or service contracts, streamlining the process for fleet customers or individual EV users.
The THG quota is not funded by tax revenues but requires large mineral oil companies to produce a certain percentage of their products in an environmentally neutral way. Companies that fail to meet the THG quota's requirements may face significant penalties.
The current THG bonus for conventional passenger cars and motorcycles is around 300 euros, while light commercial vehicles can expect around double this amount. However, owners of hybrid vehicles do not receive any benefits. For large trucks and buses, the THG bonus can be five-figure payments depending on the model.
Intermediary companies, often referred to as quota traders, act as intermediaries for the THG bonus application process. They sell the certificates directly to oil companies. Service providers collect applications and send them in a bundle to the Federal Environment Agency for review.
It's important to note that all fully electric vehicles, regardless of ownership or purpose, fall under this regulation. The process of claiming the THG bonus can take several weeks. The Federal Environment Agency sets the THG quota for each vehicle type annually, and eligible applications receive a certificate from the Federal Environment Agency.
Until the end of 2021, large energy suppliers were the primary beneficiaries of the THG bonus. However, since the beginning of 2022, owners of electric vehicles have also become eligible for this incentive. To find the cheapest provider, EV owners typically search online, upload vehicle registration and valid ID documents to the provider's website, and wait for the payment to be processed.
- The environmental industry in Germany sees a significant role in providing services for the THG bonus, with intermediary companies acting as brokers for the application process and quota traders selling certificates to oil companies to meet their environmental neutrality requirements.
- In the realm of finance, electric vehicle (EV) owners can benefit from the THG bonus, a government incentive designed to promote the use of EVs in the environmental sector, with energy suppliers and specific financial service providers offering THG bonus management as part of leasing or service contracts.
