Good inverter to run that compressor is over $100
Compressor is over $100
wires for inverter will make cost more than a "home made" CO2 set up
and you still can not run air tools
and a 10# CO2 bottle will take up less space than the compressor
Breakdown: Cobra CPI 1575 1500 watt/3000 peak inverter: $98 from Amazon.
Heavy duty cables for inverter -> battery connection: $24 (Amazon again)
2-3 Gallon Shop 115 vac Tank shop compressor with hose and assorted fittings: $65-$100 depending on brand and quality. I purchased mine a few years ago at home depot for around $60. Use it for all kinds of tasks including Airbrushing. Yes, is too small for most air tools, but I don't have, nor do I need air tools.
Total cost in my personal case: $200. Depending on brand and quality of all items purchased, maybe as high as $250.
As J-Thompson rightly notes, this setup isn't free. However...
Many people already have one of these three things sitting in their garage. For instance, I had the aircompressor in my garage for years. So the only thing I needed was the $98 inverter with the capacity to run my 2 gallon shop compressor.
Also, once you have the 1500 inverter, you'll be able to run a large swath of your POWER tools that you probably already own. With my 1500 watt inverter I can run the following:
Makita power drill.
Heavy duty Belt Sander.
10 amp Circular saw (the old school one from the 70's that works your biceps everytime you lift it).
Orbital sander.
Air Compressor (natch)
16" Electric Chainsaw (although that's right on the edge of the inverters capacity so not recommended-- will easily run smaller electric chainsaw)
Skil Jigsaw
Grinder
So in the end, the cost of my "air setup" is not just confined to an air setup. There are cheaper solutions to get super-fast (yes, faster than my setup) tire filling, but most of them will do one thing: fill your tires. With my setup, I can now run a small woodshop out of the tailgate of my jeep for around $220. And I can fill my tires much faster than one of those cigarette lighter compressors. It's a win-win-win for me.
I do agree that you need real high-pressure air (like a CO2/Scuba) setup to rebead a tire. And, if your shop is full of airtools, it won't work. But for my needs, it's THE biggest bang for the buck, bar none.