Overview
Are you a Smithfield Rhode Island resident looking to save money on your electricity bill? Installing solar panels on your home could be a cost-effective solution for you. By analyzing local weather data and electricity costs, we will show you how much you can potentially save over time. With the cost of solar systems in mind, we will also estimate how long it will take for you to break even on your investment. Read on to learn more about the financial benefits of going solar in Smithfield.
Smithfield Rhode Island Weather Trends
Smithfield Precipitation
Living in Smithfield, Rhode Island means you experience more precipitation than the national average, with 73.98 inches falling in the last year. This puts Smithfield in the 93rd percentile in the country and the 80th percentile in the state. By harnessing the power of solar panels, you can take advantage of this abundance of rain to generate clean energy for your home.
Smithfield’s UV Rating
With an average UV rating of 3.67 in Smithfield, you may think it’s not ideal for solar energy production. However, this rating is still higher than the national average of 4.29. Installing solar panels can help you harness even this moderate sunlight to generate electricity while being environmentally friendly. Plus, you can use this clean energy to reduce your carbon footprint.
Smithfield’s Cloud Cover
Despite the 50% average cloud cover in Smithfield, you can still benefit from solar energy. This cloud cover puts Smithfield in the 75th percentile nationwide and the 79th percentile in Rhode Island. Even on cloudy days, modern solar panels can still produce energy, allowing you to save on your electricity bills and contribute to a greener environment.
Smithfield Rhode Island Electricity Costs
Smithfield residents pay about $0.22/kw for electricity, which is higher than the national average of $0.13/kw. By investing in solar panels, you can offset these high electricity costs and eventually save money in the long run. With the abundance of precipitation, moderate UV ratings, and some cloud cover, your home in Smithfield is a great candidate for solar energy.
When could you expect to break even on a solar installation in Smithfield Rhode Island?
Considering the weather and electricity costs in Smithfield, Rhode Island, 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:
- Smithfield receives more precipitation than the national average, but still has enough sunshine for solar panels to be effective.
- The UV ratings in Smithfield are slightly lower than the national average, but are still suitable for generating solar power.
- Cloud cover in Smithfield is about average compared to the rest of the country, with different levels of cloud cover throughout the year.
Now, let’s consider the electricity costs:
- Residents in Smithfield pay a higher rate 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 system generates electricity, reducing the amount purchased from the grid.
- Due to Smithfield’s higher electricity rates, the savings from solar power will be more significant.
After analyzing the numbers, it appears that it would take approximately 5 years to cover the initial cost of the solar panels. This means that after 5 years, the money saved on electricity bills will start to accumulate and pay off the investment. Remember, solar panels have a long lifespan, so beyond that initial period, you’ll continue to enjoy those savings for many years. It’s a wise way to save money and contribute to environmental conservation simultaneously!
Investing in solar power in Smithfield Rhode Island
Installing solar panels in Smithfield, Rhode Island can be a smart financial decision for homeowners looking to save money on their electricity bills. With higher than average precipitation, moderate UV ratings, and average cloud cover, Smithfield is an ideal location for harnessing solar energy. By offsetting the higher electricity costs in the area, homeowners could potentially break even on their investment in solar panels within approximately 5 years. Beyond that, they can enjoy long-term savings and contribute to a greener environment. Going solar in Smithfield is not only a cost-effective choice but also a sustainable one.