That then, suggests that the savings are likely to be even greater.
One interesting point made by the analysis, however, is that there are big savings to be made from combining rooftop solar, battery storage and EVs. It says they can save thousands of dollars over 15 years compared to owning an ICE car and using grid power.
“High energy consuming households would save the most, with the average large household in cities and regions estimated to see the largest saving of $12,370 after 15 years of ownership. Two-person households in cities and regions also receive a modest saving of $7,469 after 15 years.
“Modelling suggests that retirees in cities and regions would make a small negative return over 15 years by buying an EV and solar and battery system today. However, this segment would see a positive return once battery prices decline by 2%.”
One of the problems in the Australian market, however, is that it has become increasingly difficult to buy an EV. Some car makers are warning of waiting times of more than a year, and many popular EV models in Europe are simply not available at all in Australia.
Accenture puts the average waiting time for new EVs at 22 weeks, and 27 weeks for premium EVs.
Again, government policy is at fault. The report notes the global semiconductor shortages and supply chain disruptions caused by Covid-19, but it also notes car makers are directing EV stock and sales incentives to markets with fleet average emission standards.
Shaun Chau, the head of Accenture sustainability services in Australia, says the report finds that It makes financial sense to own an EV, and that households can increase their long-term savings by adding a home solar and battery system to an EV purchase.”
“With petrol and diesel prices soaring across Australia, EVs offer an increasingly competitive value proposition when compared to combustion engine vehicles. This is largely driven by the lower fuel costs of EVs.
“Pent-up demand for EVs is high in Australia. However, the biggest barrier to EV adoption is upfront affordability. Australians are paying premium prices for EVs. This is due to a lack of subsidies, supply and range of available models when compared to countries with high EV uptake.”
Extracted in full from: Solar-charged electric vehicles already a “no-brainer” for Australian car owners (thedriven.io)