Thinking about an electric vehicle?

Why solar makes buying an EV a cheap and sustainable choice. Many Aussies are now considering whether their next car purchase should be an electric vehicle (EV). It makes sense given that EV subsidies and infrastructure are becoming a higher priority for governments looking to address climate change, and the fact that more electric vehicle models are starting to hit the Australian market. In addition to wanting to live sustainably, EVs are on many people’s radar because they’re cheaper to fuel as well as being easier and more convenient to maintain. Homeowners with solar power systems have an incredible advantage because they can charge EVs using inexpensive, clean solar energy.

What percentage of vehicles in Australia are electric?

Nearly two percent of Australia’s cars are electric. That’s fairly low compared to the number of EVs in many other countries, but the figure is starting to rise dramatically. Sales of EVs in Australia almost tripled last year, with around 21,000 EVs sales recorded in 2021 compared to around 7,000 in 2019. We’re accelerating towards a major shift to an all electric-future—driven by an urgent need to move away from high-polluting fossil fuels. Demand for EVs in Australia has actually outstripped supply in recent years due to policy issues that make it less attractive for car manufacturers to prioritise the Aussie market, meaning there are often waiting lists. Difficulties in finding an EV to buy has led some Australians to wonder, ‘Should I buy a petrol car or wait for an electric?’ The good news is that the variety of electric cars on offer continues to climb, and a number of popular manufacturers have plans to sell EVs in Australia in 2022.

How long till ALL cars are electric in Australia?

Probably sooner than you think. There’s consumer demand, prices are becoming comparable to petrol cars, solar power makes home charging affordable, and governments are investing in more public charging stations and offering subsidies to speed along adoption. A recent survey of Australian consumers found 56% are now considering purchasing an electric vehicle as their next car—and almost half said they’d power their EV using renewable energy. The ability to charge EVs at home and at work is also an important factor for embracing electric cars, which is why the Electric Vehicle Council believes governments should require all new buildings constructed to be ‘EV ready’. Spending money on long-term assets like a $50,000 car isn’t something people do every day, so clearly the shift to 100% electric vehicles won’t happen overnight. Households that are able to invest in solar power systems, EVs and EV charging infrastructure at home will be on the front foot.  Analysis from a leading research firm specialising in disruptive technologies, BloombergNEF, suggests:

• By 2025, 16% of passenger vehicle sales globally will be EVs
• EV prices will become equal to, or cheaper, than petrol vehicles from between 2025-2027
• EVs will dominate the global fleet of passenger and commercial vehicles by 2050

This transition to electric vehicles is a key pillar of global efforts to reduce emissions, and the uptake of EVs in Australia could happen even faster depending on future policy implementation. The Australian Government’s own commitment to a 2050 net-zero emissions target is based on modelling that assumes that, by 2050, 90% of vehicles on Aussie roads will be electric.

Is an electric car a good investment?

Is it worth buying an electric car in 2022, and will you get more value over the long-term than a car that relies on fuel? The answer will obviously be influenced by personal circumstances, including your budget and how much you drive—but there is significant value to be had. It’s worth taking note of a recent study from Australian non-partisan body Rewiring Australia that found an average Australian household could be saving up to $6,000 per year and achieve zero emissions by switching to all-electric appliances and electric vehicles with a rooftop solar system and battery storage. It states that charging an EV with rooftop solar power could deliver a whopping 67% reduction in fuelling costs. The money you can save on fuel might offset a slighter higher up-front investment in a vehicle. One Australian e-mobility expert calculates that the savings could add up to more than $20,000 over the life of the vehicle, since EVs can be charged for around $0.20 per litre using home solar compared to around $2.00 per litre for petrol. Plus, owning an EV will reduce your vehicle servicing costs over its lifetime. Additionally, a variety of tax incentives, exemptions and rebates are already available nationally—Tesla offers a great overview of these. In Queensland, a government rebate for battery electric vehicles gives buyers the chance to recoup $3,000 and benefit from discounted rego fees for eligible zero emission vehicles.

EVs: Good for the environment and your household budget

Adopting vehicles powered by clean electricity is an imperative from the perspective of tackling climate change, but it’s also an attractive prospect for many people looking to reduce their own carbon footprint, save money on fuel and maintenance, and fully capitalise on cheaper electricity from their solar power system. Forward-thinking Aussies should explore both EV and solar power technology to benefit. Spinifex Energy can help by assessing your energy needs (a free service), suggesting the ideal options for purchasing solar power and EV charging solutions, and providing professional installation and long-term maintenance of your systems. Learn more about how to create a greener home and garage set-up to support your investment in an electric vehicle by contacting Tom on 0419 108 638 or emailing us.