Solar panels and electric cars are a match made in heaven – when you install a solar energy system on your home, you can use it to both power your home and charge your electric car for emissions-free transportation. The cost of solar is falling rapidly, and companies from Tesla to Nissan are manufacturing electric cars for your daily use. Now, the ability to install a solar PV system large enough to power both your home and your car is an option within reach. But even with incentives and rebates available for both technologies, most homeowners still can’t afford to install solar and buy an electric car at the same time. Luckily, it’s easy to install a solar energy system today that takes your future electricity consumption into account, if you take a few additional factors into consideration.
That’s because when they were evaluating solar panel systems for their home, they decided to install a slightly larger system than they originally planned on so that they would be able to power both their home and their new BMW electric car.
The increase in the price of this system over the initial one will be paid back in just two years through the savings they’re banking by eliminating their need for gasoline and the additional solar renewable energy credit (SRECs) revenues it will generate. Because their system will last at least another 20 years after that (some last as long as 30 years), the future savings will go right into their pockets for a long time to come. Here’s how their decision played out… Continue reading
Shopping for a new car? If you’re looking for one that makes the most financial sense, you should definitely consider an electric car. With high and volatile gas prices, many car shoppers are exploring alternative fuel vehicles such as hybrid or electric cars.
On first blush, these cars may seem more expensive, but if you conduct a full “cost of ownership” analysis, the gap narrows considerably and electric cars may even come out ahead. What’s really amazing, though, is what happens to the cost of owning and operating an electric car when the electricity you use to fuel it is produced by a solar panel system installed at your home or business. When you add solar panels to the mix, the electric car becomes incredibly economical. Here’s how it works: Continue reading