Overview
Are you tired of constantly rising electricity bills in Lakemore, Ohio? Consider the financial benefits of installing solar panels on your home. By analyzing weather data and electricity costs over the course of a year, we have calculated the potential savings and estimated the time it will take for you to break even on your investment. Keep reading to learn how going solar could be a smart financial decision for you in the long run.
Lakemore Ohio Weather Trends
Lakemore Precipitation
In the last year, Lakemore Ohio received 55.64 inches of precipitation, which is higher than the national average of 50.61 inches but lower than Ohio’s average of 51.17 inches. With Lakemore experiencing more rainfall compared to most of the country and the state, this presents an excellent opportunity for harnessing solar energy through panels on your home.
Lakemore’s UV Rating
With an average UV rating of 3.64, Lakemore Ohio falls below both the national and state averages. However, the sunshine in Lakemore is enough to generate solar energy efficiently, making it a viable option for residents. Plus, with an average max UV rating of 3.94, there is plenty of sunlight to be captured for energy use.
Lakemore’s Cloud Cover
In the last year, Lakemore Ohio had an average of 53% cloud cover, exceeding both the national average of 44.46% and the state average of 51.13%. Despite the cloud cover, there are still plenty of sunny days in Lakemore to make solar panels a worthwhile investment for homeowners looking to save on electricity costs while reducing their carbon footprint.
Lakemore Ohio Electricity Costs
Residents of Lakemore pay about $0.12/kw for electricity, which is slightly below the national average of $0.13/kw and on par with Ohio’s average of $0.12/kw. By installing solar panels on your home, you can significantly reduce your dependence on traditional electricity sources and save money in the long run.
When could you expect to break even on a solar installation in Lakemore Ohio?
Considering the weather and electricity costs in Lakemore 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:
- Lakemore Ohio receives slightly more precipitation than the national average, but it still has enough sunlight for solar panels to be effective.
- The UV ratings in Lakemore Ohio are a bit lower than the national average, but they are still sufficient for generating solar power.
- Cloud cover in Lakemore Ohio is higher than the national average, with significant variations throughout the year.
Now, let’s consider the electricity costs:
- Residents in Lakemore Ohio 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 from the grid.
- With lower electricity costs in Lakemore Ohio, the savings are still significant.
After calculations, it seems like it would take around 6 years to cover the initial cost of the solar panels. This means that after 6 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 enjoy the savings for many more years. It’s a great way to save money and contribute to a cleaner environment!
Investing in solar power in Lakemore Ohio
Installing solar panels in Lakemore, Ohio can be a wise financial decision for homeowners. With the higher than average precipitation providing ample opportunity for harnessing solar energy, coupled with slightly lower electricity costs compared to the national average, the investment in solar panels can lead to significant savings over time. By estimating the time it would take to break even on the initial cost, we have found that it would take around 6 years to start accumulating savings from reduced electricity bills. Beyond that, homeowners can continue to enjoy the financial benefits and contribute to a cleaner environment. Consider going solar to save money and reduce your carbon footprint in the long run.