Solar and EV Investment

My EV and solar Panels

We bought a Chevy Bolt in the fall of 2021 and love driving it! Not only do we save on gas, but there is very little maintenance on EV's. With our solar panels installed a few weeks later, I was excited to drive a car that was mostly "sun-powered!" The solar panels were a big investment, about $12,800 after tax rebates, but by combining them with an EV,  our break even point was about 6-7 years. The solar panels save, on average, about $60 per month. I consider this an investment that will pay a dividend that can only go up (electricity rates won't go down!) for the the next 20 years or more.  If you can pay them off before retirement, they are a great investment for your future. 

Beyond EV's and solar panels the Inflation Reduction Act offers home owners so many ways to convert your home to a more energy efficient unit, and receive significant tax savings. Everything from weatherization to geo-thermal heating is eligible for tax rebates. Check out this website to learning more. 

Combining solar panels on your home with an electric car is a great idea in retirement for a number of reasons. Here are a few key benefits:

Overall, combining solar panels with an electric car is a smart choice that can save you money, benefit the environment, and increase your energy independence.