• Objective: To determine the cost savings when charging various electric vehicles with a residential solar PV system, compared to charging without one (i.e. purchasing the required electricity from the utility) and compared to using an average vehicle with gasoline.
• Analysis assumptions:
• Cost figures are expressed in Canadian dollars.
• The 2017 BMW i3 BEV assumes a 60 Amp-hour battery.
• Solar electricity estimates are determined using solar radiation values for state capitals from Home Solar Discover.
• Solar generation figures are based on an average-sized residential solar PV system of 5 kW that is operational for 25 years.
• The default PV installation cost is estimated to be $3.50/watt.
• Financing costs are not included - this analysis assumes an outright purchase of the solar PV system.
• Maintenance costs of the residential solar PV system are estimated to be 10% of the initial cost of installation.
• Where available, province or territorial-based solar tax credits were also included in the levelized cost calculations (other incentives, such as performance payments or property tax exemptions, are not included).
• Utility rates for the provinces are based on a study published by Hydro Quebec. Rates in effect in April 2017. Source: Comparison of Electricity Prices in Major North American Cities. Utility rates for the territories are based on residential rate data as reported by Qulliq Energy Corporation (as displayed on 27 September 2016); Northwest Territories Power Corporation (effective 1 October 2017); Yukon Housing Corporation (effective 1 July 2016).
• Vehicle fuel economy data is from the U.S. Department of Energy (www.fueleconomy.gov).
• The average fuel economy of a 2017 vehicle is 26 MPG according to the U.S. Department of Energy (www.fueleconomy.gov). , which is equal to 9.04 litres per 100 km.
• Monthly average retail (regular) gasoline prices are from Statistics Canada (when available, the gasoline price for the capital city is used; since no data is available for Nunavut, an average is taken of the gasoline prices for Northwest Territories and Yukon). Gasoline prices are for December 2016.
• Financial estimates don't include the cost of financing the EV.