< Back to Electric Vehicle Charging Stations

How a Solar Power System Keeps You from Getting a Shock from Your Electric Bill

 

If you've recently purchased your first electric vehicle (EV), or you are considering joining the increasing ranks of satisfied EV owners, then there's some good news — and some bad news. We'll start with the positive.

 

The Good…

 

The good news is that there are many excellent benefits of EV ownership, such as (and most obviously) helping lower carbon emissions and reduce environmental footprint. At the same time, you don't have to make expensive trips to the gas station, and EVs are widely considered more reliable and cheaper to maintain than conventional gas vehicles, since there is no combustion engine, fewer moving parts, no muffler or catalytic converter, and lower wear and tear on the brakes. Plus, EVs are very responsive, nimble, quiet, fun to drive, and there is strong and growing demand for used EVs. Add up all of the advantages, and what's not to love?

 

…and the Bad

 

Well, we warned you that there was some bad news on the horizon, and if you've recently purchased your first EV then you either know about this already, or you're about to find out: your electric bill is going to rise. And not by a minimal amount. It's a dramatic uptick that will have you gripping the bill with both hands, feverishly hoping that there's an error.  

What's Going On?

 

The problem is simple to understand (which doesn't make it any less frustrating). EVs need to be re-charged, and the consumption is significant — after all, we're talking about a vehicle here, not a smartphone. The amount you pay depends on how much electricity you use.

 

For example, if your EV requires 50 kilowatt hours (kWh) to recharge from a completely depleted battery, and the prevailing residential electricity rate is 10.4/cents per kWh, then each full recharge will drive up your electricity bill by $5.20. If your EV can travel 125 miles on a full charge (which is the median range according to energy.gov), and you drive 11,498 miles per year (which is the average amount according to research by the AAA), then you will need to fully recharge your EV 92 times a year. This will increase your electricity bill by nearly $480. And if you drive more than the average amount and/or your EV has a lower range than 125 miles per full charge, then your cost will be even higher.

 

The Solution

 

Fortunately, there's a proven solution that will help EV owners like you enjoy all of the benefits that you are entitled to, but without wincing and bracing for impact every time the electric bill arrives in the mail: install a solar panel system.

A solar panel system will not only affordably charge your EV (or multiple EVs), but will also power your entire home, including lights, electronics, appliances, hot water, and so on. What's more, you can take advantage of several incentive programs to lower your installation cost, including:

 

• 26% Federal Tax Credit. This applies to the installation of solar electric and solar hot water systems)
• Solar Energy System Sales Tax Exemption. For example, if you live in Venice, Florida then you will not pay the 6.35% sales tax (combination of 4.85% state tax and 1.5% Sarasota county tax).
• Assessment of Residential & Non-Homestead Real Property. This prevents the solar power system from increasing the assessed value of your home and hiking your property tax bill.
• Net Metering. This allows you to sell surplus power back to the utility company, and receive credit at the retail rates (i.e. the same rate that the utility company would have charged you).

 

More information on these programs is available here.   

 

Learn More

 

To learn more about how a solar panel system can make your EV purchase even more rewarding, contact the team at Harriman's. We have been delivering quality customer service for over 50 years. With over 20,000 satisfied customers and an A+ rating from the Better Business Bureau – along with hundreds of testimonials from delighted customers available for your review – at Harriman's we are committed to providing you with the finest solar equipment available. We welcome the opportunity to earn your business, and help you avoid getting a shock from your electric bill!