| | April 18, 2024 |
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It’s increasingly common for solar energy system owners to consider electric vehicles (EVs), creating a mutually beneficial synergy. Becca Jones-Albertus, the acting deputy assistant secretary for renewable energy at the U.S. Energy Department, notes that solar system owners often explore EVs due to the longer presence of solar technology. However, numerous EV owners are also keen on installing solar panels to address increased electricity consumption and enable cost-effective home charging. As per the U.S. Department of Energy’s Solar Energy Technologies Office, out of 131 million U.S. households, approximately 4.5 million have adopted rooftop solar. Notably, 2023 witnessed a record-breaking sale of over 1 million EVs in the U.S. While EVs offer an environmentally friendly alternative, charging them may still rely on electricity generated from fossil fuels. This situation offsets some of the environmental advantages of electric vehicles. Solar power emerges as a solution to this issue. Residential solar electric systems, or photovoltaic systems, convert sunlight into electricity through solar panels. When coupled with battery storage, these systems create a continuous energy reserve. In California, almost 20% of new household solar systems installed in 2022 included batteries. Major automakers, recognizing the overlap in consumer interest, are venturing into solar solutions. Legacy car companies, inspired by Tesla's acquisition of SolarCity in 2016, are diversifying into solar energy services. General Motors' energy unit, GM Energy, exemplifies this trend, aiming to provide customers with a comprehensive suite of services, including at-home charging, solar solutions, and energy management technology.
Hyundai Home assists its EV customers in selecting home charging and solar options, while Ford is also exploring ventures in this arena. However, the accessibility of rooftop solar remains uneven, limiting this combined option for all EV owners. Roughly half of U.S. households either lack control over their roofs or find them unsuitable due to various factors, as per the DOE solar office.
Efforts are underway to address this disparity, with community solar projects offering an inclusive solution. These projects allow renters, condo owners, and communities without suitable roofs to partake in a shared solar array, contributing to the overall growth in U.S. solar capacity.
Despite the growing interest, some utilities may not incentivize customers to generate surplus solar electricity, as it would require compensation for excess production in the form of credits. Additionally, installation costs can be a deterrent, ranging from $10,000 to $15,000 or more. While the expenses have decreased over time, federal incentives, such as the Inflation Reduction Act, have played a role in making residential solar systems and EVs more economically viable. This Act, signed into law by President Joe Biden in August 2022, allows consumers to claim a 30% credit on their next federal tax bill for the investment made in solar systems.
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