I am fully aware that not everyone can afford to purchase an electric vehicle or have solar panels installed. As such this article will only have a limited a audience. We bought a used Nissan Leaf for a little over £5,000 a few years ago. Prices of used EV’s have gone up since then, but thankfully for those wishing to purchase a second hand EV the prices now appear to be levelling off again and in some cases dropping quite considerably.
Buying a car (with the exception of some classic cars) is never really an ‘investment’. It will virtually always depreciate. Having said that, the cost to the consumer can be mitigated by choosing cheaper to run options. Also if you have money in the bank earning 1% or less interest there are better and greener ways to use your money, that may indeed provide a better return on investment. Solar panels can pay you back in under 10 years, and coupled with an electric vehicle can slash the cost of your motoring bills. This combination can bring significant financial and environmental benefits to your home and your daily life.
One of the most significant financial benefits of owning an electric car is the savings on fuel costs. Electric cars use electricity, which is significantly cheaper than petrol or diesel, and as a result, the savings can add up quickly. Some media headlines have claimed that it now costs more to fill up with electricity than it does with conventional fuel, and in some very specific instances, this ‘can’ be true. If you only use the most expensive rapid chargers on the motorways for your electricity and hunt for the absolutley cheapest supermarket petrol, then you may be able to make such a claim, but it would be disingenuous.
Many EV owners only charge at home and have an electricity tarrif that provides 4 hours of cheap electricity per night (c.12p/kwh = 3p/mile driving cost). When you pair an electric car with solar panels, the benefits are even more significant. During the summer months, when the days are longer and the sun shines brighter, solar panels can generate more energy than you need. This means that you can charge your car using the excess energy produced by your solar panels, which can lead to virtually no cost to charge the car during the summer months. We managed to fill our EV fully on solar on the 3rd April this year, this will likely be the same through to October.
The financial benefits of EV’s & Solar don’t stop there. By installing solar panels on your roof, you can generate your own electricity, reducing your reliance on the grid and lowering your energy bills. If your solar panels produce more energy than you need, you can sell the excess energy back to the grid, which can be an additional source of income.
Aside from the financial benefits, owning an electric car and having solar panels also have significant environmental benefits. Electric cars produce zero CO2 emissions, which means that you are contributing to a cleaner and healthier environment. Solar panels generate electricity from the sun, which is a clean and renewable source of energy. By using solar power to charge your car, you are significantly reducing your carbon footprint and helping to combat climate change.
Moreover, solar panels require very little maintenance, and they have a long lifespan, typically lasting for over 25 years. With proper care, you can enjoy a long-term, cost-effective source of renewable energy, which will significantly reduce your dependence on fossil fuels.
In conclusion, owning an electric car and having solar panels is a wise investment that can bring financial and environmental benefits to your home. By reducing your carbon footprint and cutting down on energy costs, you can take a step towards a more sustainable and eco-friendly lifestyle. With the added advantage of virtually free charging during the summer months, this investment is a smart choice that will pay off in a shorter period than you might think.
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