Overview
Are you a Franklin New Hampshire resident looking to save money on your electricity bills? Installing solar panels on your home could be a great investment! By analyzing weather data and electricity costs over the course of a year, we can show you how much money you could potentially save with a solar system. In this article, we will break down the cost of a solar system, estimate how long it will take for you to break even, and highlight the financial benefits of going solar in Franklin New Hampshire.
Franklin New Hampshire Weather Trends
Franklin Precipitation
With 69.58 inches of precipitation in the last year, Franklin New Hampshire is above the national average of 50.61 inches but slightly below the state average of 73.01 inches. Despite receiving more rain than most areas in the country, the potential financial benefits of solar panel installation in Franklin make it a wise choice for homeowners.
Franklin’s UV Rating
Franklin’s average UV rating of 3.31 places it below both the national average of 4.29 and the state average of 3.25. However, the strong sunlight in the region still provides a viable opportunity for Franklin residents to harness solar energy. Installing solar panels can help offset electricity costs, even with slightly lower UV levels.
Franklin’s Cloud Cover
Despite the average 54% cloud cover in Franklin, which is higher than the national average of 44.46%, the city still sees a significant number of clear days throughout the year. With 72 days of minimal cloud cover, residents can benefit from solar energy on these days. The sporadic cloud coverage does not diminish the overall potential savings from solar panel installation.
Franklin New Hampshire Electricity Costs
At $0.19/kw, Franklin’s electricity costs are higher than the national average of $0.13/kw. However, they are on par with the state average of $0.19/kw. By switching to solar energy, Franklin residents can reduce their reliance on the grid and lower their monthly electricity bills significantly. The investment in solar panels can lead to substantial long-term savings in electricity costs.
When could you expect to break even on a solar installation in Franklin New Hampshire?
Considering the weather and electricity costs in Franklin, New Hampshire, 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:
- Franklin gets more precipitation than the national average, which can impact solar panel efficiency. However, it still receives enough sunlight for the panels to work effectively.
- The UV ratings in Franklin are lower than the national average, but they are still sufficient for generating solar power.
- Cloud cover in Franklin is slightly higher than the national average, which might reduce solar power generation on cloudy days.
Now, let’s consider the electricity costs:
- Residents in Franklin pay more for electricity compared to the national average, which makes investing in solar panels more financially beneficial.
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, providing long-term savings on electricity costs.
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 amount needed from the grid and saving money on electricity bills.
- With Franklin’s higher electricity rates, the savings from using solar power will be significant.
After analyzing the data, it is estimated that it would take around 5-6 years to cover the initial cost of the solar panels in Franklin, New Hampshire. This means that after this period, the money saved on electricity bills will start to accumulate and pay off the investment. Additionally, considering that solar panels have a lifespan of 25-30 years, residents can enjoy savings for many more years to come, making it a wise long-term investment.
Investing in solar power in Franklin New Hampshire
Installing solar panels in Franklin, New Hampshire can be a smart financial move for residents looking to save money on their electricity bills. Despite the higher-than-average precipitation and cloud cover in the region, the strong sunlight and electricity costs make solar energy a viable and cost-effective option. By analyzing weather data, electricity costs, and the investment in solar panels, it is estimated that residents could break even on their initial investment in around 5-6 years. With the panels expected to last 25-30 years, this means long-term savings and benefits for Franklin residents. Going solar in Franklin New Hampshire could be a wise choice for homeowners seeking to reduce their reliance on the grid and secure their financial future.