Turning the corner.....for now

[indio22]

Congrats and welcome to the electric world! I honestly love my electric car as a DD. Its so nice never having to go to a gas station. Plus I have solar on my house so I dont even have to pay to charge it! I drive a ton so it actually saves me money. The only down side is long trips.

When I bought my petrol sipping economy car 3 years ago for 14k, the EVs were still too expensive to make it worthwhile, especially since we use the economy car for a lot of longer distance trips as well. It would have taken me years if ever to hit the break even point. Although when EVs drop below the 20k mark, I'll be down for one as an urban around town vehicle.

 

[Evolution]

When I bought my petrol sipping economy car 3 years ago for 14k, the EVs were still too expensive to make it worthwhile, especially since we use the economy car for a lot of longer distance trips as well. It would have taken me years if ever to hit the break even point. Although when EVs drop below the 20k mark, I'll be down for one as an urban around town vehicle.

You may want to look into what I have. Chevy bolt euv. After the federal rebate ($7500), they are nearly 20k. Plus if your state has any rebates.... you would be set. It's literally the cheapest new EV at the moment. By far not the best but it does what I need just fine.

Edit - I think they still offer the free charger wiring install too.

 

[indio22]

You may want to look into what I have. Chevy bolt euv. After the federal rebate ($7500), they are nearly 20k. Plus if your state has any rebates.... you would be set. It's literally the cheapest new EV at the moment. By far not the best but it does what I need just fine.

Edit - I think they still offer the free charger wiring install too.

In 2020 when I bought my econo car, I think the Bolt was still up around 37K MSRP (minus rebate). So I was still looking at near double the cost. But yes the prices have come down, and probably my next economy car will be an EV if still living in an urban area.

 

[West Aussie]

If I had solar, I'd definitely run some storage batteries. I'd primarily reserve them for power outage use, especially in some places in CA

They screw you no matter what you do though. We have 1 Battery and that was 10k, the next model to cover us would have been about 20k
So that’s 133 bills worth so that’s around 15 years worth of $150 for times a month…by which time said battery would probably need replacing

As to fuel ….in Aus the fast charges can cost up to $48.00 to charge your car fully and they can’t drive as far as a normal car .
Mark my words once electric outweighs petrol the prices will go through the roof, and put further pressure on the grid which will result in home electricity also increasing

This is my prediction for what it’s worth

Edit…also electric cars in Aus are still relatively expensive most states offer some form of rebate…but not good old wait a while WA

 

[takemorepills]

Mark my words once electric outweighs petrol the prices will go through the roof, and put further pressure on the grid which will result in home electricity also increasing

This is my prediction for what it’s worth

This is my issue.
When electrical grid usage is high, rates will go way up.

I work in the transportation industry. We have solar powered devices. 3 items commonly fail:
1. Solar panels. We use LG panels, I thought they'd be more reliable.

2. Solar charge controller.

3. Batteries, these need replacing every 5-7 years.

The maintenance is expensive, and we've converted some of our devices back to utility powered.

Everyone wants new and shiny. That definitely doesn't mean "better". I'm also not happy that my taxes go to subsidizing these things.....

 

[trackratZ]

Ready to venture out to Supercharger land, can't wait to road trip and find out, log the goods and bads Also can't wait to claim $9.5K tax break incentive this tax year!

First trip up the west coast to see my prego daughter in Santa Cruz. Plenty of Superchargers, no worries. Second trip later in fall, visit son in Florida, cross country will be interesting, esp in the midwest and deeeeep south LOL. But I know the Supercharger network is THE best in NA, not spotty unreliable like EVGo, ChargePoint, etc.

Long Range Dual Motor (MYLR)

 

[TaroBaapG35]

Ready to venture out to Supercharger land, can't wait to road trip and find out, log the goods and bads Also can't wait to claim $9.5K tax break incentive this tax year!

First trip up the west coast to see my prego daughter in Santa Cruz. Plenty of Superchargers, no worries. Second trip later in fall, visit son in Florida, cross country will be interesting, esp in the midwest and deeeeep south LOL. But I know the Supercharger network is THE best in NA, not spotty unreliable like EVGo, ChargePoint, etc.

Long Range Dual Motor (MYLR)

You'll love road tripping it. We take our Model 3 LR on trips quite often (and aside from the horrendous wind noise that affects only Model 3's) its amazing! You can really charge the car the way you like to trip. I prefer longer stretches of driving resulting in slightly longer charge times (fewer stops) versus shorter drive time (more stops).

Also note for the tax credit, if you were to receive a tax refund of $2k next year, you'd max out at the $7.5k + State credits; The credits are a max what you'll receive not incremental to your refund. Same goes for your Tax due; it'll reduce your tax amount that you need to pay. So either way its savings but just fyi..

Great color combo!

 

[Donalex]

Also note for the tax credit, if you were to receive a tax refund of $2k next year, you'd max out at the $7.5k + State credits; The credits are a max what you'll receive not incremental to your refund. Same goes for your Tax due; it'll reduce your tax amount that you need to pay. So either way its savings but just fyi..

If it's a tax credit that's "non-refundable" like the solar credits, you can carry over the balance to the next year(s) returns.

 

[indio22]

You may want to look into what I have. Chevy bolt euv. After the federal rebate ($7500), they are nearly 20k. Plus if your state has any rebates.... you would be set. It's literally the cheapest new EV at the moment. By far not the best but it does what I need just fine.

Edit - I think they still offer the free charger wiring install too.

Looks like the Bolt is going away:
https://autos.yahoo.com/chevy-bolt-ev-euv-production-150600403.html

 

[Evolution]

Looks like the Bolt is going away:
https://autos.yahoo.com/chevy-bolt-ev-euv-production-150600403.html

That means get one while you can! All of GMs new electric lineup is going to be way more expensive. But at the same time, its going to have the next generation of batteries which they say are going to charge a lot faster and have more range.

 

[trackratZ]

Also note for the tax credit, if you were to receive a tax refund of $2k next year, you'd max out at the $7.5k + State credits; The credits are a max what you'll receive not incremental to your refund. Same goes for your Tax due; it'll reduce your tax amount that you need to pay. So either way its savings but just fyi..

Great color combo!

Yep I realize it's a tax 'credit' to offset any taxes due, not $$ given. That's still what I'm counting on, I'll sell more stocks this year, so this will offset the gains. Back for 2020 tax year I sold a bunch of TSLA made 6 figure gains, then was socked with $18K total taxes for that year! Hurts. I'll make sure to maximize that $7.5K + $2K CA credits to offset whatever I decide to unload.

Probably still keep Tesla in my portfolio though, I have high hopes on overall strategy (see below). OTOH probably will unload a bunch of RIVN!