My expansion solar panels that cover the extra cost of my 10,000 miles of driving. |
The new panels on my roof have generated just shy of a
megawatt hour (1,000kwh) of power per year.
Without the peak-hour generation benefit, that would be enough power to
propel my purple car about 4,200 miles.
More than 75% of the energy produced by my new system is generated
during the peak season, so I get a big benefit from the summer generating
schedule. I also charged about 130kwh on
the ChargePoint network, which offsets about another 550 miles of driving. This year, I over produced enough electricity
to result in a $20 credit due to me (which PG&E drops because there was no
over-production of electricity in my case).
So, the new solar panels produced enough energy (using time-of-use
metering) for me to drive about 10,300 miles.
So, the bottom line is that I spent nothing to drive 10,500
miles. Of course, I had to invest $5,500
in the solar panel upgrade to eliminate my driving costs, otherwise my electric
costs would have been closer to $260 for the year. If electric rates remain constant, it would
take over 21 years to recover the costs of the solar panels from a strictly
financial perspective, but knowing that my car gets much of its energy from
solar power provides an intangible benefit akin to the “value” of gambling in
Las Vegas. (If energy rates jump by 25%
in the next 10 years, I can break even in fewer than 18 years.) Now, if you factor in the savings over
gasoline propulsion, the break-even time gets much shorter (to about four
years).