Overview
Are you looking to save money on your electricity bills in Lakewood, Ohio? Installing solar panels on your home could be the answer you’ve been looking for. By analyzing weather data and electricity costs specific to Lakewood, we will show you how much you can potentially save by switching to solar energy. We will break down the cost of a solar system, estimate how long it will take to break even, and focus on the financial benefits that come with making the switch to solar power.
Lakewood Ohio Weather Trends
Lakewood Precipitation
In the last year, Lakewood Ohio received 57.66 inches of precipitation, placing it in the 65th percentile in the nation and the 89th percentile in Ohio. Comparing this to the national average of 50.61 inches and Ohio’s average of 51.17 inches, it’s clear that Lakewood experiences a higher level of precipitation. With this abundance of rainfall, solar panels can still be efficient in generating electricity, as they can harness the sun’s energy even on cloudy days.
Lakewood’s UV Rating
Looking at the UV rating, in the last year Lakewood Ohio had an average UV rating of 3.6, positioning it in the 23rd percentile in the nation and the 10th percentile in Ohio. Comparing this to the national average UV rating of 4.29 and Ohio’s average of 3.84, Lakewood has slightly lower UV levels. However, even with lower UV ratings, solar panels can still produce electricity, making them a viable option for saving costs and reducing environmental impact.
Lakewood’s Cloud Cover
In the last year, Lakewood Ohio had an average of 53% cloud cover, placing it in the 82nd percentile in the nation and the 74th percentile in Ohio. Compared to the national average of 44.46% and Ohio’s average of 51.13%, Lakewood experiences more cloud cover. Despite this, on sunny days solar panels can still efficiently convert sunlight into electricity. With strategic placement and technology advancements, solar panels can offset electricity costs even with higher cloud cover.
Lakewood Ohio Electricity Costs
Lakewood Ohio residents pay about $0.13/kw for electricity, positioning the city in the 77th percentile in the nation and the 77th percentile in Ohio. The national average for residential electricity is also $0.13/kw, while Ohio’s average is slightly lower at $0.12/kw. By installing solar panels, residents can generate their own electricity and reduce their dependency on the grid, ultimately saving money in the long run and contributing to a greener environment.
When could you expect to break even on a solar installation in Lakewood Ohio?
Considering the weather and electricity costs in Lakewood Ohio, 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:
- Lakewood Ohio receives slightly more precipitation than the national average, but still has enough sun for solar panels to be effective.
- The UV ratings in Lakewood Ohio are slightly lower than the national average, but are still good for generating solar power.
- Cloud cover in Lakewood Ohio is slightly higher than the national average, ranging from 0% to 100% throughout the year.
Now, let’s consider the electricity costs:
- Residents in Lakewood Ohio pay the national average price for electricity, which is $0.13/kw.
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 from the grid.
- With the national average electricity rates, the savings will be consistent.
After crunching the numbers, it looks like it would take around 8-10 years to cover the initial cost of the solar panels. This means that after 8-10 years, the money saved on electricity bills will start to accumulate and pay off the investment. Additionally, since solar panels last for 25-30 years, you will continue to benefit from these savings for many years beyond that initial period. It’s a wise investment that not only saves money but also contributes to a greener environment!
Investing in solar power in Lakewood Ohio
Switching to solar energy in Lakewood, Ohio can be a cost-effective decision that not only saves you money but also benefits the environment. By analyzing the weather trends and electricity costs specific to Lakewood, we can see that solar panels can still generate electricity efficiently despite higher precipitation and cloud cover levels. With the potential to break even on a solar installation in around 8-10 years and the panels lasting 25-30 years, the long-term financial benefits are well worth the initial investment. Going solar in Lakewood is a smart move for your wallet and the planet!