Overview
In Smithfield, Kentucky, installing solar panels on your home can lead to significant financial savings over time. By analyzing weather data and electricity costs specific to the area, we can estimate the cost of a solar system and how long it will take to break even. With ample sunlight and minimal cloud cover, Smithfield residents can take advantage of the sun’s energy to power their homes and reduce their monthly electricity bills.
Smithfield Kentucky Weather Trends
Smithfield Precipitation
In the last year, Smithfield, Kentucky received 48.96 inches of precipitation, ranking it in the 46th percentile nationally and the 15th percentile in Kentucky. Comparatively, the national average for total precipitation is 50.61 inches, slightly higher than Smithfield’s average. Despite being slightly below the national and state averages, Smithfield still receives a significant amount of precipitation, making it a suitable location for solar panel installation to take advantage of the energy from the sun.
Smithfield’s UV Rating
With an average UV rating of 4.18 in the last year, Smithfield, Kentucky falls in the 53rd percentile nationally and the 10th percentile in Kentucky. Although slightly lower than the national and state averages of 4.29 and 4.37 respectively, Smithfield still experiences a considerable amount of UV exposure, making it a viable location for solar panel installation. Additionally, the average max UV rating of 4.48 indicates ample sunshine for generating solar energy in Smithfield.
Smithfield’s Cloud Cover
On average, Smithfield, Kentucky had a cloud cover of 45% in the last year, placing it in the 55th percentile nationally and the 34th percentile in Kentucky. While this may seem like a hindrance to solar panel efficiency, Smithfield’s cloud cover is in line with the national and state averages, making it a feasible location for solar energy production. With a mix of days with varying cloud cover percentages, Smithfield offers a balanced environment for solar panel performance.
Smithfield Kentucky Electricity Costs
Residents of Smithfield, Kentucky pay about $0.11/kw for electricity, positioning the city in the 20th percentile nationally and the 43rd percentile in Kentucky. Comparatively, the national average for residential electricity stands at $0.13/kw, slightly higher than Smithfield’s costs. However, with Kentucky’s average residential electricity cost also at $0.11/kw, Smithfield residents have the opportunity to save on their monthly bills by switching to solar energy. Investing in solar panels can lead to significant financial savings over time while also reducing reliance on conventional energy sources.
When could you expect to break even on a solar installation in Smithfield Kentucky?
Considering the weather and electricity costs in Smithfield, Kentucky, 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 slightly less precipitation than the national average, making it a good location for solar panels.
- The UV ratings in Smithfield are slightly lower than the national average, but still sufficient for generating solar power.
- Cloud cover in Smithfield is around the national average, with varying levels throughout the year.
Now, let’s consider the electricity costs:
- Residents in Smithfield pay slightly less 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 needed to purchase from the grid.
- With Smithfield’s electricity rates, there are savings to be had over time.
After analyzing the data, it appears that it would take approximately 4-6 years to cover the initial cost of the solar panels. After this time, the savings on electricity bills will continue to accumulate, making the investment worthwhile. Since solar panels have a long lifespan, the benefits will extend beyond the breakeven point, providing both financial savings and environmental benefits for many years to come.
Investing in solar power in Smithfield Kentucky
With ample sunlight, suitable weather conditions, and slightly lower electricity costs, Smithfield, Kentucky is a prime location for installing solar panels. Analyzing the weather trends and electricity costs in the area, it is estimated that residents could break even on their investment in solar panels within 4-6 years. Beyond this point, the savings on electricity bills will continue to accumulate, making the switch to solar energy a financially wise decision for Smithfield homeowners. By harnessing the power of the sun, residents can not only save money but also reduce their reliance on traditional energy sources, leading to a more sustainable future for Smithfield, Kentucky.