One person's math on the financial benefits of driving a solar-powered electric car
Good stuff from the Motley Fool this week on how solar energy on your home can power your electric car and save you money. Remember how Tesla will offer a solar option with their Roadster? Looks like it'd be a money saver.
The Motley Fool writer figured out his monthly electric bill ($101) and his monthly gas bill ($180) and then used "conservative Tesla Motors numbers for power for their vehicle" to find out how much energy it'd take to drive an average of 1,500 miles a month. The next step was to figure out how many solar panels it'd take to generate all that energy. After some tax breaks (he thinks there are more, but he can't figure them out) the solar power system he needs on his roof to power the car and his house would cost him $37,820. Taking out a $37,800 home equity loan at the current rate of 6.5 percent would cost him $239 a month. After doing all this math, he's entirely optimistic on solar-powered EV. I'll let him take us out: "Therefore, with rebates, such a solar system would actually save me $40/month in total fuel/energy costs. And I use NO OIL! I produce NO HYDROCARBON emissions."
[Source: The Motley Fool]
Reader Comments (Page 1 of 1)
Swade 5:50PM (10/21/2006)
I haven't read the article yet, but your summary begs the question: what about the price of the actual car? Does he also have to finance that? It's going to effect the equation.
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Sebastian 6:34PM (10/21/2006)
Swade,
the price of a new car is not factored into the calculations, just the cost of powering the car.
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Tom W 8:53PM (10/21/2006)
Interesting math, but it was calculated by a person who lives in San Diego. People who live in locations with fewer sunny days might need to spend more on the solar hardware.
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Michael 7:52PM (10/22/2006)
Tom,
My understanding is that solar cells actually work less efficient in a warmer climate. Compared to northern areas, the calculations may be a wash.
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