It’s a pretty amazing package! Start saving today, and lock in driving costs for the next 20 years.
With gasoline consistently above $3.50 per gallon, buying an electric car makes a lot of cents (Pun intended!) The math of an electric car, while a bit complex, the bottom line is that electric fuel costs 5 cents a gallon-equivalent. So on its own, an electric vehicle could be a great choice.
Now add in solar. A solar system will last 20 years or more, and whether you lease, finance, or buy a system, your solar power cost is fixed during that time period. With solar costs nearly equal to utility-priced electricity, what a way to put money in your pocket!
What does locking in fuel costs really mean? In 20 years, gasoline for your car will be $15.15 per gallon (if gasoline prices increase at historical rates), while fueling the electric car with a solar system will cost only 5 – 10 cents per gallon equivalent. You would save $15 per gallon!
So what’s holding electric cars back? Up-front costs, and “range anxiety” – concerns about finding charging stations. At the same time, costs to consumer are also falling, with one manufacturer claiming an operating cost of under 3 cents a gallon.
We’ve just walked through a lot of numbers, but the bottom line is clear: the electric car and solar package makes sense. Look for good offers, rebates and tax incentives on electric cars and innovative payment programs. This could be a winning combination!