THE number of electric cars on the road will have to increase more than fivefold before the 1,000 charging points installed by the ESB will become profitable.
More than 1,000 'e-car' charging points have been installed across the country since the ESB initiative was initially launched in 2010 and, to date, there have been just under 600 electric cars registered on the roads.
John Sweeney, the head of innovation at ESB, said that there would have to be an additional 2,400 electric cars on the road before a return would be be seen on that investment.
"We reckon that if we get 3,000 to 5,000 cars out on the road – then it all sort of makes sense.
"And, as it goes forward then into larger numbers, it begins to make real economical sense," he said.
There are currently just under 600 electric cars on the road in Ireland.
This is despite the €5,000 grant that is offered to purchase them – and the significantly lower running costs of the vehicle.
However, Mr Sweeney is hopeful that this figure will improve as "there are more and more models coming on board".
The company is hoping for an increase in 'e-cars' after the recent installation of 46 fast chargers across the country's main roads which allow motorists to charge 80pc of the car in just 20 minutes.
It is projected that by 2020 every tenth car on Irish roads will be fully powered by electricity