Post #1841110

@tojiro That is similar to our experience. Around 3 years ago we invested in solar for the house and traded in the oil burner for an EV. I did this mainly to get the fossil fuel industry out of our life and to stop feeling so helpless about the climate crisis. However the financial benefits were immediately obvious. Before the solar & EV our electricity cost was around $2900/year. After solar the cost to run the house, heating, EV charging and everything else our residual power bill in winter is around $900. So this now covers our gas for the car. Savings on gas is around $3000/year. Given that the EV was about $10K more than the gas equivalent it will take just over 3 years for payback. Less if we consider oil changes and other oil burner maintenance. Our payments for the solar installation are $280/month and will pay off in 8 years after which time it will be zero. The other thing that most people don't talk about is the increase in home equity. ie the house is now worth more than it was before. My estimate is that it's at least as much as the solar input costs. So this is gravy. Conclusion, the biggest hedge against inflation and cost of living is solar power and EVs. #solar #ev #renewables #climate