A Repower homeowner and Tesla Model S driver asked me this weekend: What impact will Tesla’s just-announced, $35k, 215-mile-per-charge Model 3 have on the solar business? Timely question that prompted navel gazing, given last week’s announcement of the Model 3, the deposit I placed to purchase one, and Repower’s mission to help as many homeowners as possible go solar.
Good question, I replied. Wow, I pondered. Big, I think. Perhaps a game-changer/tipping point for the electric vehicle industry. My thoughts were shallow and streaming, yet to codify.
(BTW, Chuck Jones, one of Repower Director John Walter’s Stanford pals, has a worthy article in Forbes about the Model 3.)
From a car-driving, solar-consuming perspective, a few thoughts:
- Tesla CEO Elon Musk tweeted Saturday that 276,000 $1k deposits have been placed for the Model 3 … in two days. (IMO: The Chevy Bolt is DOA.)
- Today’s reasonably-priced, all-electric vehicles, including my Nissan Leaf, have limited range. Therefore, if you own a contemporary electric vehicle (sans a Tesla S or X), your demand for electricity is moderate.
- Repower homeowners are generating solar electricity for an amortized cost of $0.10 (or less) per kWh.
- For every kWh of electricity, you receive ~4 miles of charge.
You can see where I’m going. For a dollar, you can drive 40 miles (with no emissions). With the Model 3’s extended range, drivers will rack up more electrically-charged miles (versus hybrid electrics like the Volt or my range-constrained Leaf). And, with Tesla’s ever-expanding network of super charging stations, road-tripping to the Bay Area, SoCal, Oregon, et al is now feasible … with a $35k (pre-tax credit) car. At no cost.
What’s the impact on solar for homeowners with extended range electric vehicles? Let’s say you drive 15,000 miles per year and charge your vehicle 50% of the time at home (7,500 miles/year). Divide 7,500 (miles) by 4 (miles/kWh) and you would consume 1,875 kWh of electricity. If your solar system generates ~ 1,400 kWh per kW of capacity, you would need an additional 1.3 kW of solar panels. The math is simple and the trend is, well, trending.
And, the punchline: You purchase a Model 3 for $25,000 (after tax credits); drive 15,000 miles per year (with 50% charging done at home); maintenance with Tesla’s is free; and, your annual automotive expense would be $187.50 for carbon-free, no compromise driving.
That’s cool. Contact us today if you own or are considering acquiring an electric vehicle.
The future is bright.
