Hey folks, first post here, so lemme have it! ;)
We are a small wholesale perennial/herb/veggie/annual farm in SECT with a big idea: convert our existing ancient two diesel semis, and three full-sized box trucks to BEV. Stat.
Fall 2020: Installing 100kw pole-mounted, grid-connected solar on 1/3 acre of marginal land. System cost including install: $200,000.
1) 26% Federal tax credit, so $52,000 off our 2020 tax bill.
2) Federal Dept. of Agriculture REAP grant: 25% of cost of system, so a check for $50,000 once system is up and running.
3) Eversource ZREC (Renewable Energy Credit) program. Eversource (our CT power company) to pay us $100 per 1000 kWh (1 REC) generated per year *for 15 yrs*. System will generate 134,000 kWh per year, so a total benefit of $201,000 over the course of those 15 years.
Total Incentives: $303,000. That’s right, we’ll actually be *making* 2.8% annual ‘return’ on the system over the 15 years. AND, we’ll also eliminate our $700/mo. current electric bill.
Winter 2021: Apply for the CT DEEP VW Emissions Grant to assist in the purchase of four Tesla Semis. Connecticut’s share of the $2B VW emissions settlement was roughly $57M. Funds are earmarked to replace old diesel trucks with cleaner alternatives. If approved, we stand to receive ‘up to 60%’ of the purchase price of the trucks and associated charging infrastructure. As our delivery routes are as long as 420 miles per day, we’re opting for the long-range Semi variants with 500 miles of fully-loaded range.
4 Semis: $720,000 ($180,000 x 4) As a farm in CT, we don’t pay sales tax.
VW Emissions Grant (60%): -$432,000
Final Cost: $288,000
Fuel Savings: Diesel truck burns 5000 gals/yr
2 Tesla Semis will run on solar power generated at Farm.
So, we’ll save $25,000 ($2.50/gal x 5000 x 2) on those 2 trucks.
2 Semis will charge off the grid, saving $12,500/yr. Assuming electricity costs roughly half that of diesel.
So annually, we'll save $37,500 on fuel costs.
Maintenance Savings: Our 2020 diesel truck repair/maintenance was $50,000
Expect this number to be far lower for new electric trucks, conservatively say $5000 per truck, or $20,000 per year. So save at least $30,000 annually on repair/maintenance.
$67,500 in annual savings so far.
Insurance to be more with new trucks, so let’s pare that annual savings down to a round $50,000.
With the savings alone, we’ll pay off the four Semis in just 6 yrs. time.
Winter 2022: Take delivery of said four Tesla Semi tractors. Pinch selves. Make frequent trips to I-95 on ramps and @bigyfoods to ‘break in’ trucks.
Best, Matty G
2014 MS85, 2019 M3SR+