I Spent $89,000 on Solar And Electric Car In NZ… Was It Worth It?

Frances Cook, host of Making Cents, shares her personal financial journey of investing $89,000 in a solar-powered home system and an electric vehicle in New Zealand—detailing the decision-making process, costs, and long-term savings. Despite the high upfront expense, she argues the move was a calculated financial investment, not a lifestyle splurge, driven by rising electricity prices and the availability of low-interest green loans. Her system now generates more power than she uses, resulting in negative bills in summer and significantly reduced winter costs. She highlights a 15.6% return on investment with a payback period of just over six years, outperforming her shares portfolio. Frances emphasizes that while her setup was expensive, it was tailored to her family’s needs and lifestyle, and she encourages listeners to do it smarter and cheaper by choosing systems suited to their property, using local installers, and leveraging automation and off-peak charging. She also warns against rental-style solar schemes and stresses that solar is primarily about cost savings, not profit, and that the real value lies in financial freedom and reduced stress. The episode serves as both a case study and a call to action: with electricity prices rising steadily in New Zealand, investing in solar and EVs is becoming increasingly rational for homeowners who can access green financing. Frances urges listeners to research multiple quotes, avoid one-size-fits-all solutions, and consider their own energy usage patterns. Ultimately, she frames the decision not as a luxury but as a strategic financial move that removes a major source of anxiety while delivering strong returns. Her message is clear: you don’t need to spend what she did—just learn from her experience and optimize for your own situation.