Look at that chart. "40% by 2025 (from 2022)". That's pretty impressive.
Save time, I used to spend time filling up my car. It now charges while I sleep.
The main thing is that the cost of fuel vs. the cost of electricity meant that we are saving ~$100/month and the difference in car payments for ICE vehicles vs EV was smaller than that.
Although I'm pretty sure this only holds for new vs. new. The "used" market for EVs is almost non-existent and the savings you get is not nearly as large in used as it is for ICE. So if you are willing to buy used, then yes, ICE is still going to have an advantage for a while. But for new vehicles at least, modulo all those factors up above, it's already the case that some EVs are cheaper than comparable ICE vehicles.
It does depend on where you are. In the Nordics an EV is definitely cheaper than even a used ICE. Biggest reason being the reduced fuel costs, but also lower tax.
Depends
Here in New Zealand we get 3-year old ex Japanese vehicles at about half new price
Or on depreciation. When some battery breakthrough finally hits the market and unfucks EVs so they don't weigh twice as much as regular vehicles to go half as far, then you'll be left with $1-2k worth of metal around a worthless battery that nobody will want to buy anymore.
As for depreciation, I'm not one who really buys new cars very often. The vehicle I replaced was was over a decade old and it's resale value isn't that much higher than it's scrap value.
And for people who _do_ go through vehicles more often than I do, I think it's a bit too early to tell. I'm personally skeptical that the lifetime fuel savings for most people won't cover the difference in depreciation. But I guess we'll see!
Incentives and prices will vary over time. While there is new "tech" for solar in the pipeline, it will take time to reach market. As prices decrease, incentives will as well. Be mindful of how incentives and financing may stack, EnergySage will provide all the info you need to make an informed decision.
I love it. Went there, and it gave me two options. One with a 17.2 year payback, and a second where I get a loan and my 20 year savings are -$27K. Ha! Seems like they should just replace that second option with "we calculated this one and it turns out you'd lose a bunch of money, it's not feasible."
Alas, 17.2 years is longer than my current roof has left before replacement, and almost certainly longer than I'll live here. Maybe the next house. Especially since I'm thinking of moving somewhere with enough open land that I can just DIY a nice ground-mount setup instead of mucking about with holes in the roof.
If you can't buy the system outright consider getting a Home Equity loan. This is exactly the sort of thing they are designed for and have much less overhead than any other option.
In the US we suffer from high demand in a small market allowing installers to inflate the system prices considerably. We should be paying less than $2/watt installed, but you see quotes for like $4-$8/watt all the time because these companies get to pick their customers.
Hmm, not sure how much prices have changed, but I installed my own ground mount 7kW array(s) back in 2020, and that was right around $2/watt with me doing all the work except a concrete mixer dump session for the footings.
While I agree in general, your numbers seem off. In expensive Northern California I regularly see systems running $3-4/watt, not $4-8.
Unfortunately, loans aren't quite what they were when I got solar over a year ago, 0.99% APR was one of my offers with the lowest cost quote. >10 year payback is quite high, mine is 4-5 years (not accounting for inflation or annual increases in electricity costs).
I had solar panels installed a little over ten years ago, for environmental reasons, and I was surprised to learn that the economics were already good enough to make it work out as a benefit in purely financial terms. Equipment has only gotten better since then.
Will the person plan on living there for the next 5-10 years? Will installation costs finally start falling three years from now? Will the government institute a large grid connection fee so as to significantly impact payback periods? Is the roof going to need replacement within the next 10 years?