If you get solar panels and an electric car will it help offset the price?

The cost of solar photovoltaic power is 38 cents per kwh. The efficiency of an electric motor is 98% while that of a gasoline engine is about 25% to 30%. The efficiency of coal power generation is about 35%, transmission losses in the US are about 6.6%. Therefore the electric car is about 32% efficient in bringing fossil fuel energy to the road while gasoline is about 25% to 30% efficient. The biggest advantage that the electric car has is that you’re not paying fuel taxes which are used to maintain and build roads. With Solar, you’re only increasing the amount you are paying for the power and you’re paying for it all up front which in economics maximizes your risks. You’re not going to get a quicker return on investment with solar unless of course you benefit from the taxpayers as they do in Europe.

Source(s): http://greenecon.net/understanding-the-cost-of-sol…

Yes here is why:

I am assuming that you have already come to the decision to purchase solar panels and an electric vehicle but wonder how the increased electrical demand of an EV affects the solar panel investment.

There are many ways to understand an investment. You may have heard of “ROI” or return on investment and “Payback” Both compare the investment to the return but ROI will give you a percentage while payback is expressed in a period of time in which some portion of the investment is covered by the return. After the payback period your investment is covered and your electricity is “free.”

If you purchase a limited amount of solar panels for about $80 and as a result you will not have to pay a $1 / month utility bill after 80 months you will have covered the initial investment. Your payback period would be 80 months.

But if your electrical demand due to the EV would have been an Additional $50 per month then your “payback period would only be about 53 months.

But if instead you consider that you would have had to pay $2 a month in fuel costs for a gasoline vehicle your savings per month is now $3 per month rather than just the cost of your electric bill. The payback period is then ($80/$3) or about 27 months.

This is very simplistic but it illustrates the basic idea that if we put more of our expenses into an area where we are saving money there is a better overall return. Where it gets more complex is when we start shifting the investment amount (more solar panels) to increase savings (to cover more demand.) We also may have to consider partial offsets and other ongoing expenses after the initial investment.

Net Metering will allow you to sell electricity to the utility during the day and use this as an offset to taking electricity from the grid at night. Time of use metering will take note of when you are drawing electricity. Discounts up to 50% are usually available for charging an electric vehicle at night. This can double your savings and effectively half your payback period.

Source(s): Edit: here is a new article on EV + Solar: http://reneweconomy.com.au/2013/evs-and-solar-powe… (but it is in error saying that the Volt engine can charge the battery)

Yes and no. You have to remember that grid electricity is not very expensive (compared to gasoline.) In most cities electricity only costs a dime or so per kilowatt-hour. And many utilities have off-peak rates (if you charge overnight) that are half-price. My own utility gives me a rate of 6 cents per KWH overnight.

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So you’ll save lots of money (compared to gas) even using your utility. Typical cost-per mile for an EV is around 2 cents. At that cost, most people will save around $20 per year in fueling cost. So a car like Nissan Leaf or Smart Fortwo Electric – which cost around $20,0 – will experience $10,0 worth of fuel savings over five years of ownership. That adds up to a pretty cheap driving experience.

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If you bought a small $50 solar system, and your utility’s electricity had a cost to you of 2 cents per mile, it would take you 250,0 miles for the savings to pay off your panels.

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Solar makes the most sense for people who live where electricity is expensive, for example, parts of the west coast. If the cost-per-mile in your EV was 8 cents, then your $5,0 solar system would be paid off after just 67,0 miles.

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PS: battery failure in EVs is exaggerated. First generation EVs, 20 years ago, needed new batteries every 5 years or so. But there have been two generations of newer technology since then. Hybrid cars have been with us now for over 10 years, and battery failure has not been a real issue with them. Some early Prius cars have accumulated as many as 4,0 miles on original batteries.

You will get a quicker return indeed but you wil have to consider the much higher investment plus the fact that you will need a new batterie five years os so from now. I´m saying this despite the fact that I´m fan of EP cars and even work for a company that builds EP vehicles. But in case I can afford it I will have one even if it´s not actually cheaper yet. But I like that way of silent driving and there is almost no maintenance to take care of.

Your college spend $10,0 according to month or according to year??? Photovoltaic (photograph voltaic Panel) panels have an quite super preliminary capital investment. in case you reside in a region (e.g. West Coast wilderness, SoCal) the place there are various sunny days which you may desire to have the means to interrupt even speedier. additionally observe ,there are state and federal grants that could help ease the capital value. power call for retains going up so anticipate our modern expenses to double. people who’ve selection types like wind and photograph voltaic could have the convenience while this time comes. in basic terms think of of while the US had it is oil disaster in summer season of 28, those with small helpful automobiles alongside with Prius’s did not experience the cost boost like the human beings who bought greater value-efficient super SUV’s.

Build Home Solar Power – http://solarpower.siopu.com/?gdC