Overview
In Lakeview, Arkansas, 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 break-even point for a solar system. With ample sunlight, low cloud cover, and reasonable electricity rates, residents can expect to see a return on their investment in a reasonable amount of time. Read on to learn more about how going solar can benefit your wallet in Lakeview.
Lakeview Arkansas Weather Trends
Lakeview Precipitation
With 54.62 inches of precipitation in the last year, Lakeview Arkansas falls in the 58th percentile nationally and the 48th percentile within Arkansas. Compared to the national average of 50.61 inches and Arkansas’s average of 54.5 inches, Lakeview experiences a slightly higher amount of precipitation.
Lakeview’s UV Rating
In the last year, Lakeview Arkansas had an average UV rating of 4.84, placing it in the 74th percentile nationally and the 21st percentile within Arkansas. When compared to the national average of 4.29 and Arkansas’s average of 5.13, Lakeview receives more sunlight, making it an ideal location for harnessing solar energy with solar panels.
Lakeview’s Cloud Cover
With an average of 39% cloud cover in the last year, Lakeview Arkansas ranks in the 23rd percentile nationally and the 67th percentile within Arkansas. Compared to the national average of 44.46% and Arkansas’s average of 38.77%, Lakeview experiences relatively low cloud cover, providing more opportunities for solar panels to generate electricity efficiently.
Lakeview Arkansas Electricity Costs
Lakeview Arkansas residents pay around $0.11/kw for electricity, positioning the area in the 35th percentile nationally and the 85th percentile within Arkansas. When compared to the national average of $0.13/kw and Arkansas’s average of $0.11/kw, Lakeview offers competitive electricity rates, making it financially beneficial to invest in solar panels for long-term savings.
When could you expect to break even on a solar installation in Lakeview Arkansas?
Considering the weather and electricity costs in Lakeview Arkansas, 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:
- Lakeview Arkansas gets slightly more rain than the national average, but it still has plenty of sunny days for solar panels to work effectively.
- The UV ratings in Lakeview Arkansas are higher than the national average, making it a great location for generating solar power.
- Cloud cover in Lakeview Arkansas is lower than the national average, with a good amount of clear days throughout the year.
Now, let’s consider the electricity costs:
- Residents in Lakeview Arkansas pay less for electricity compared to the national average, which can result in significant savings by using solar power.
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, which means residents don’t need to buy as much from the grid, resulting in savings on electricity bills.
- With Lakeview Arkansas’ lower electricity rates, the savings are even more significant over time.
After analyzing the data, it looks like it would take around 7 years to cover the initial cost of the solar panels in Lakeview Arkansas. This means that after 7 years, the money saved on electricity bills will surpass the initial investment. Additionally, considering the long lifespan of solar panels, residents will continue to enjoy savings for many years to come. It’s a wise financial decision that also benefits the environment in the long run!
Investing in solar power in Lakeview Arkansas
Installing solar panels in Lakeview, Arkansas is a smart financial decision that can lead to significant savings over time. With ample sunlight, low cloud cover, and competitive electricity rates, residents can expect to break even on their investment in solar panels in approximately 7 years. This means that after 7 years, the money saved on electricity bills will surpass the initial cost of the solar system. Not only does going solar benefit your wallet, but it also contributes to a cleaner environment. Investing in solar panels in Lakeview is a win-win situation for both your finances and the planet!