The income based plans floated currently include a flat fee regardless of usage. In other words the marginal cost of a kWh won’t go up as to not penalize EVs. The worst off will be high income, low use as they will pay $130+ for the first kWh.
Quoted costs for solar include instal, financing and federal ITC. In my case $2.82 per kW minus 30% ITC = $1.98 per kW to get the panels installed and hooked up, plus financing costs.
Not always. Some people are able to get similar rates to whatever they already have. I think people should always just check with their provider before they get their car, rather than being surprised later.
It’s only beneficial for those choosing to stay at a place for more than 6-7 years.
That also might not always work, especially with NEM 3.0 as well now and the push to making you buy batteries. Huge solar arrays and batteries are not cheap even with rebates, subsidy and new rates.
3.0 is proof of that.
They just made the breakeven >= 10 years. Most of my family always moves after 6-7 years. At this point, it’s only worth it for those planning to stay in the home till they have grandkids lol
Run that break-even again replacing an ICE vehicle with a solar powered EV and you’ll get a very different answer. That said I agree NEM 3 essentially killed the value proposition for the next few years.
It was with solar powered EV. The system would have to be massive to support a 3k+ sqft home. You need to consider that batteries are required under NEM 3, which cost a shit ton. At that point, you’re shelling out money for a breakeven period that’s at least half a decade away.
Bingo. The needed size and expense of the array with a 3k+ SF house, a pool and everything else is already enormous on any NEM, but adding an EV or two and being on N2 or N3? Forget it.
Who’s moving with these interest rates?
This is getting landfilled isn’t it hah.
What does this mean in dollars. You know dollars that you could have earning interest 5% and applied to a solar loan with a high interest rate?
44k for the system financed at 4.25% fixed for 15 years. 31k after ITC, monthly payment $233 for 15 years. System makes -23,000 kwh per year initially with a decline curve, payment goes to zero after 15 years, NEM 2 to 20 years, warranty to 25 years.
Its a bit unfair to say favors. From a pure operational cost, in general, on average, charging may be cheaper than gasoline. But I fail to see how overall its cheaper, since insurance may be more expensive, registration more expensive, upfront cost or lease payment may be more expensive etc for EVs.
At the end of it, do your own math. I’ve seen people go from Corolla to M3 and say they are saving $200 on gas but fail to mention they paid $15k more for it.
That’s not bad, but for NEM 3 and batteries at current interest rates, I would guess it not as good.
JFC those California prices are insane…
Someone convinced me to get the FPL evolution plan here in Florida. I charge all I want nights and weekends for both of my cars. $31 per month and they installed the 48 amp Wallbox EV charging station for free. Free maintenance and the service contract is for 10 years.
I bought a second EV, so this plan is a non-brainer for me.
Otherwise, I would be charging at the standard cost of $.15 per kWh. Same energy price all day.
We have our issues like hurricanes and insurance, but energy is not one of them!
You know what’s an apples to apples comparison?
An i4 e35 vs a 430i.
Run the numbers. EV wins on energy cost and TCO hands down.
100% agree with you. But again, its one case. Generally speaking, i dont think it will be universal. See Hyundai Kona gas vs EV for example
I think it’s more apparent if you’ve following all the different lease offers here on LH (and let’s just talk lease since this is LH):
You’ve already calculated a $115 savings for an EV in fuel costs. Find a 25mpg ICE car and find a comparable EV and let’s see what the monthly lease cost is.
What’s the cheapest ICE to lease right now? Corolla for $300? Maybe a Kia/Hyundai ICE (like a Venue)?
Cheapest EVs are probably the Hyundai Kona or Kia Niro… they are $309 and $335 from a broker here.
So even if insurance is more, it won’t be $100/mo more.
Certain EVs are highly incentivized and/or subvented right now that even when comparing just lease costs makes them cheap. While leasing for value high MPG cars is still costly because those are more popular.
The caveat is this is for Cali… so it might be different elsewhere but I see those TriState area EV deals that are pretty tasty too.
What is the cheapest lease on an ICE Kona… can’t seem to find a recent one on LH.
As someone who has had their first EV for 6 months and it happens to be an i4 e35 I am shocked seriously shocked how cheap an EV is. My energy company paid for me to put in an EV charger ($1,000 rebate) as long as I went on a time of use plan. The time of use plan calculator showed it would cost me an extra $30 annually to switch but the historical usage it used did not include me owning an EV. I have my charger set to only charger between 12am and 6am which costs me $0.04/KwH. I pay like $11 a month for electricity for me to drive about 1,000 miles. No air filter to change, no oil changes. I will never ever ever go back. If I need to drive really far I will just rent a car. I save so much with an EV!!!
That is ridiculously low. Congrats.
Willing to bet that your non-EV section of the bill will go up, offsetting the cheaper cost of charging? Althu its so cheap you may not even notice
Since you have a BMW, this was free for a 4-series or any other car anyways, so its not a savings