What is a good spread sheet to create when building a picture of import, export, costs, savings etc incl EV (just bought one and want to see what the payback time will be on my capital)
Thanks
Don't know if this is the right place for the question
Out of interest, how long did your previous car take to payback the capital, and how did you track that ?
Do you already have a spreadsheet tracking petrol/diesel prices, etc ?
DD I don't know of a spreadsheet to follow the savings from my car, but I do know what I am saving in broad terms - I also know I will never get the capital cost of the car back, I'm 82, so I won't live long enough.
Some real world numbers...
My previous car was a long wheelbase S-Class, 3 litre diesel. I used a little less than a tank a month and the current cost to fill it would be £152.91 at the lowest price forecourt near me. It would do about 500 miles of day-to-day running on that tank and close to 650 miles on a long run. Day to day that's 30.6p/mile.
My current EV is a Mercedes CLA250+ which is returning very close to, or just above, 5.0 miles per kWh on every charge - between 410 and 425 miles for 100% battery charge of 85kWh, useable. I now have Octopus Charge cap which ensures that all my home charging is done between 23:30 and 05:30 at 8p/kWh - £6.80 for a full charge. For 500 miles that's pretty much exactly £8 to cover the same 500 miles as the diesel would have used £153 to cover. It's 1.6p/mile.
For a less ridiculous diesel example - the B-220d I had 3 cars ago which did 60mpg all the time and 66-70 on a long journey, which is 13.2 miles per litre or 12.9p/mile.
I have been doing something similar in that I track the cost of running my petrol car (mileage, depreciation, servicing, maintenance, repairs, taxes) as I like to know what it's costing me and how much I need to allocate to running it. There's also a man-math element to it as at some point the costs may make owning an electric one look more appealing, which I have also modelled. The amount of solar generation, export etc isn't relevant to this, since the hypothetical car would just be charging on overnight cheap rate regardless.
I don't think I personally would ever get to a 'payback' point on the capital expense of a newer car. Maybe if I was doing very high mileage. Your mileage may literally vary.
There is no payback time for a car as they just depreciate. EV’s are just better technology and if you can charge at home cost way less than any ICE car, and still will even with the 3p a mile tax. They also cost way less for servicing and in general are quicker and quieter. But they still cost!
We got a Tesla back in 21 and solar and a battery in 23 and at the time I worked out we “saved” £3200 a year. We’ve since got a heatpump which saves another £900 a year over oil heating and works better. All we have to do is ignore the capital outlay….
I paid £12k for a one year old Kia Ceed SW from Motorpoint during covid lockdown when the hire companies were selling off their fleets. Not had a single problem and I'm now on year 6 of ownership, if I can get it to 10 years then thats £1200 a year (less if you include inflation) on the capex. Should be easy enough, the Kappa engine in these (petrol) cars is good for 150k if maintained properly - needs appropriate oil changes like all direct injection cars or the cylinder heads will build up carbon deposits which isn't good.
Fuel consumption is at 48.6mpg overall (since I got it) and the tank costs around £65 to fill.
An EV wouldn't currently save me anything (capex) so the driving factor (no pun intended 😉 ) will be when my wife's 14 year old Fiesta diesel gives up the ghost. No signs of that so far, car looks like a banger but drives fine with 137k on the clock. Those were the last of the decent Ford engines IMHO, everything since then has been unreliable junk.
Our cars might last long enough for V2H to be a thing 😃 Then again I intend having a home sodium-ion battery by then....
tl;dr economics of EVs aren't always a no-brainer...
DD the previous car was petrol.
ed-form, I now have a Volvo EC40 giving approx 24kWh / 100ml and because we don't do much milage nowerdays I am able to do all charging on Octopus flux
I have had my array for three years and use a spreadsheet to track both payback of capitol and savings and was looking at including the EV on this as this effects consumption but its a case of picking compartable data
I can see the monthly charging consumption from the charger so I could take that figure out of the spreadsheet info or I could use the cost of charging against buying petrol and use that saving.
Whats the way forward?
Cully Whats the way forward?
I don' think the equation has really changed: the reasons for having a nice new car are the same as they ever were - can you afford it and wouldn't it be nice?
An EV costs more, but less than a few years ago - you can lease a Tesla Model 3 for £250 a month and it's nearly as good on consumption of the crackly stuff as my Merc. The justification for buying a fuel drinking car is pretty much gone.
If Tesla had been offering the deals they are now, when I bought my Merc in February, I would have had one - the Merc cost £46500 - utterly unjustifiable - except that the wife said that 420 miles of real world range is much better for her range anxiety that 375 miles and who am I to argue? 🙂