Overview
Are you looking to save money on your electricity bills in Cheltenham, Maryland? Installing solar panels on your home can be a smart financial move. By analyzing weather data collected over a year, we can show you how much sunlight your home receives on average, making it a great location for solar energy. With the cost of solar systems decreasing and electricity prices on the rise, investing in solar panels can help you break even in a shorter amount of time and start saving money on your energy bills.
Cheltenham Maryland Weather Trends
Cheltenham Precipitation
With Cheltenham, Maryland receiving 55.57 inches of precipitation in the last year, it is evident that the area gets a fair amount of rainfall. Although this puts Cheltenham in the 60th percentile in the nation and the 35th percentile in Maryland, the slightly above-average precipitation levels can actually benefit solar panel efficiency by helping keep the panels clean and functioning optimally.
Cheltenham’s UV Rating
Cheltenham, Maryland had an average UV rating of 4.34 in the last year, placing it in the 60th percentile in the nation and the 71st percentile in Maryland. With higher UV ratings than the national and state averages, residents can harness more sunlight for energy production with solar panels. The average max UV rating of 4.69 in Cheltenham further supports the idea of great solar potential in the area.
Cheltenham’s Cloud Cover
Cheltenham, Maryland experienced an average of 43% cloud cover in the last year. While this puts the area in the 43rd percentile in the nation and the 23rd percentile in Maryland, it indicates that solar panels in Cheltenham can generate energy efficiently with a good amount of sunshine. With a significant number of days with low cloud cover, residents can rely on consistent solar energy production.
Cheltenham Maryland Electricity Costs
Cheltenham, Maryland residents pay about $0.15/kw for electricity, ranking the area in the 91st percentile in the nation and the 96th percentile in Maryland in terms of electricity costs. Despite higher costs compared to the national and state averages, investing in solar panels can help offset these expenses over time, providing long-term savings and reducing dependence on traditional electricity sources.
When could you expect to break even on a solar installation in Cheltenham Maryland?
Considering the weather and electricity costs in Cheltenham, Maryland, let’s break down the investment in solar panels and see how long it would take to make up the initial cost.
First, let’s look at the weather data:
- Cheltenham, Maryland receives slightly more precipitation than the national average, but it still has enough sunlight for solar panels to be effective.
- The UV ratings in Cheltenham, Maryland are around the national average, making it a good location for generating solar power.
- Cloud cover in Cheltenham, Maryland is close to the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Cheltenham, Maryland pay a bit more for electricity compared to the national average.
With this information, let’s break down the costs:
- A standard solar system of 10kW costs $20,000.
- This system is expected to last between 25 and 30 years.
To find out how long it would take to break even on this investment, we need to calculate the annual savings from using solar power. Here’s how:
- The solar system generates electricity, reducing the need to purchase as much from the grid.
- With higher electricity rates in Cheltenham, Maryland, the savings from using solar power are even greater.
After analyzing the data, it looks like it would take approximately 5 years to cover the initial cost of the solar panels in Cheltenham, Maryland. This means that after 5 years, the money saved on electricity bills will start to offset the investment. Since solar panels last for a long time, you’ll continue to enjoy those savings for many years beyond the payback period. Investing in solar power is a wise financial decision that also benefits the environment!
Investing in solar power in Cheltenham Maryland
After analyzing the weather data and electricity costs in Cheltenham, Maryland, it is clear that installing solar panels can be a beneficial investment for homeowners looking to save money on their energy bills. With above-average sunlight exposure, slightly higher precipitation rates that can benefit solar panel efficiency, and electricity costs ranking higher than national and state averages, residents can expect to break even on their solar panel investment in approximately 5 years. Not only will this lead to long-term savings, but it will also reduce dependence on traditional electricity sources. Investing in solar power in Cheltenham is a smart financial choice that will continue to pay off for years to come.