In an age where sustainability has taken center stage, electric vehicles (EVs) are increasingly becoming a symbol of affordable eco-conscious transportation. But beyond the environmental benefits they offer, one question persists in the minds of many consumers and prospective EV owners: How much does it cost to power an electric car?

The economic implications of driving an EV are multifaceted, involving the dynamics of electricity pricing, the vehicle’s energy consumption, and the comparison with traditional gasoline-powered cars. In this deep-dive, we’ll explore the costs associated with driving a Tesla Model 3 and how investing in a home solar photovoltaic (PV) system can significantly shift the math in favor of electric mobility.

Understanding Electricity Rates for Electric Vehicles

Pacific Gas and Electric Company’s (PG&E) EV rate plans are designed to encourage owners to charge their EVs during off-peak hours with reduced rates. Off-peak rates average about 35 cents per kWh, a significant discount compared to peak rates, which are 73 cents per kWh on the EV1 rate and 66 cents per kWh on the EV2 rate.

To benefit from these lower rates, EV owners must adhere to the specified peak hours when energy demand is highest. This pricing model incentivizes charging during periods of low demand, such as overnight, which helps balance the energy load on the grid.

Tesla Model 3 Electricity Consumption

According to the Environmental Protection Agency (EPA), the Tesla Model 3 requires approximately 0.25 kWh per mile. Applying the off-peak electricity rate of 35 cents per kWh, the cost to drive a Tesla Model 3 comes down to $0.0875 per mile.

Gasoline-Powered Car Cost Comparison

To draw a parallel, consider a gasoline-powered car with similar features and performance to a Tesla Model 3, achieving an efficiency of 30 miles per gallon. At a cost of $5 per gallon for gas (in California), the cost per mile is computed to be $0.167. Remarkably, that’s almost double the per-mile cost of running the Model 3 on electricity.

Halving the Cost with Home Solar Systems

Now, envision a scenario where your household generates its own electricity through a PV system. The cost of producing electricity with a properly installed solar system—and under favorable sun exposure conditions—usually hovers around $0.15 per kWh over the lifespan of the system. When you use this home-generated energy to charge your EV, the cost dramatically decreases to about $0.044 per mile.

Conclusion: The Economic Benefit of Solar-Powered EVs

The transition to electric vehicles promises a more sustainable future, but it also offers tangible economic benefits, particularly when paired with renewable energy sources like solar power. While the initial cost of a PV system might seem significant, the long-term savings on EV charging and overall household energy consumption can be substantial.

For environmentally conscious consumers, driving an EV is not just a commitment to reducing one’s carbon footprint—it’s also a savvy financial decision. Charging an EV with solar power doesn’t only cut the cost per mile; it also insulates you from the volatility of energy prices, offering a degree of energy independence that is increasingly valuable.

We encourage readers who are considering an EV purchase to look not just at the sticker price of the vehicle but also at the broader economic and environmental picture. By integrating smart energy habits and renewable technology into your lifestyle, driving an electric car can become an investment that delivers returns for years to come.

The road to a cleaner, greener and more cost-effective future is paved with innovations like the electric vehicle and solar energy, and it is one that promises to reward those who choose to travel it.

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