Homeowners Cut Solar Payback to 10 Years by Pairing EV Charging With Rooftop Panels
Updated
Updated · The Washington Post · Nov 14
Homeowners Cut Solar Payback to 10 Years by Pairing EV Charging With Rooftop Panels
3 articles · Updated · The Washington Post · Nov 14
Summary
$24,000 solar systems can pay back in about 10 years when homeowners use the power to charge an EV at home, versus roughly 13 to 14 years for solar alone.
The savings come from avoiding low utility buyback rates for excess daytime generation; using that power in an EV can add about 15 cents per kilowatt-hour of value in a 20-cent retail, 5-cent export scenario.
Census data show homeowners are better positioned to capture that benefit: 6.4% own an electric or plug-in hybrid vehicle versus 3.6% of renters, and 7% have solar panels versus 2.8% of renter households.
Ordinary outlets, overnight charging discounts and community solar can still lower costs, but shaded or aging roofs, low local power prices and financing costs can make the economics unattractive.
Renters generally cannot install rooftop solar or home chargers without landlord approval, though community solar may cut bills 5% to 15% and portable balcony solar systems could widen access.