diff --git a/esphome/components/inkplate6/inkplate.cpp b/esphome/components/inkplate6/inkplate.cpp
index 92a226de87..f4d0fedf83 100644
--- a/esphome/components/inkplate6/inkplate.cpp
+++ b/esphome/components/inkplate6/inkplate.cpp
@@ -55,6 +55,9 @@ void Inkplate6::setup() {
   this->wakeup_pin_->digital_write(false);
 }
 
+/**
+ * Allocate buffers. May be called after setup to re-initialise if e.g. greyscale is changed.
+ */
 void Inkplate6::initialize_() {
   ExternalRAMAllocator<uint8_t> allocator(ExternalRAMAllocator<uint8_t>::ALLOW_FAILURE);
   ExternalRAMAllocator<uint32_t> allocator32(ExternalRAMAllocator<uint32_t>::ALLOW_FAILURE);
diff --git a/esphome/components/inkplate6/inkplate.h b/esphome/components/inkplate6/inkplate.h
index 307d9671e6..2946c89e1c 100644
--- a/esphome/components/inkplate6/inkplate.h
+++ b/esphome/components/inkplate6/inkplate.h
@@ -68,8 +68,9 @@ class Inkplate6 : public display::DisplayBuffer, public i2c::I2CDevice {
 
   void set_greyscale(bool greyscale) {
     this->greyscale_ = greyscale;
-    this->initialize_();
     this->block_partial_ = true;
+    if (this->is_ready())
+      this->initialize_();
   }
   void set_partial_updating(bool partial_updating) { this->partial_updating_ = partial_updating; }
   void set_full_update_every(uint32_t full_update_every) { this->full_update_every_ = full_update_every; }