Overview
Discover the financial benefits of installing solar panels on your home in Matawan, New Jersey. By analyzing weather data and electricity costs, you can see how much money you can save over time. With the cost breakdown of a solar system and estimated break-even point, you can make an informed decision to start saving on your energy bills today.
Matawan New Jersey Weather Trends
Matawan Precipitation
With 63.39 inches of precipitation in the last year, Matawan is in the 77th percentile in the nation and the 36th percentile in New Jersey. Compared to the national average of 50.61 inches, Matawan receives more rainfall, which can be beneficial for solar panels as they work efficiently even on overcast days.
Matawan’s UV Rating
Having an average UV rating of 4.06 places Matawan in the 48th percentile in the nation and the 64th percentile in New Jersey. Although slightly below the national average of 4.29, Matawan’s UV rating is still conducive to generating solar energy. The average max UV rating of 4.29 also shows that Matawan receives a good amount of sunlight for solar panel production.
Matawan’s Cloud Cover
With an average of 46% cloud cover, Matawan is in the 56th percentile in the nation and the 44th percentile in New Jersey. The moderate cloud cover provides a balance between sunny and overcast days, ensuring consistent solar energy production throughout the year. Additionally, the distribution of cloud cover days allows for optimal solar panel performance.
Matawan New Jersey Electricity Costs
Residents in Matawan pay about $0.13/kw for electricity, placing them in the 71st percentile in the nation and the 9th percentile in New Jersey. Compared to the national average of $0.13/kw, Matawan residents have relatively low electricity costs, making the switch to solar panels a cost-effective option in the long run. With New Jersey’s average residential electricity cost at $0.16/kw, installing solar panels can lead to substantial savings on energy bills.
When could you expect to break even on a solar installation in Matawan New Jersey?
Considering the weather and electricity costs in Matawan, New Jersey, 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:
- Matawan receives more precipitation than the national average, but it still has enough sunlight for solar panels to be effective.
- The UV ratings in Matawan are slightly lower than the national average, but they are sufficient for generating solar power.
- Cloud cover in Matawan is around the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Matawan pay the national average electricity cost of $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.
- Given the average electricity cost in Matawan, the savings are considerable.
After analyzing the data, it appears that it would take approximately 5 years to recoup the initial cost of the solar panels. This means that after 5 years, the savings on electricity bills will surpass the investment made. Additionally, since solar panels last for a long time, you will continue to benefit from these savings for many years beyond the break-even point. Investing in solar power is not only a financially sound decision but also a step towards a sustainable future.
Investing in solar power in Matawan New Jersey
Installing solar panels in Matawan, New Jersey can lead to significant financial savings over time. With an analysis of the weather trends and electricity costs in the area, it is evident that solar power is a cost-effective option for residents. By considering the amount of sunlight, precipitation, and cloud cover in Matawan, along with the relatively low electricity costs, it is estimated that the break-even point for a solar installation would be around 5 years. Beyond this point, the savings on energy bills will continue to grow, making solar panels a wise investment for the future. Not only does this decision make financial sense, but it also contributes to a sustainable and environmentally friendly lifestyle.