Overview
In Toms River, New Jersey, the decision to install solar panels on your home can lead to substantial financial benefits. By analyzing weather data and electricity costs specific to the area, we have calculated that a solar system can help you break even in a relatively short amount of time. With the average of 206 sunny days and low precipitation levels, Toms River is an ideal location for harnessing solar energy to save money on your electricity bills. Let’s explore how going solar can be a smart investment for Toms River residents.
Toms River New Jersey Weather Trends
Toms River Precipitation
With Toms River, New Jersey receiving 71.81 inches of precipitation in the last year, the area is in the 91st percentile in the nation and the 86th percentile in New Jersey. Compared to the national average of 50.61 inches, Toms River experiences significantly more rainfall. By installing solar panels, residents can take advantage of the sunny days to generate electricity and offset the higher precipitation levels.
Toms River’s UV Rating
Having an average UV rating of 4.12 in the last year, Toms River ranks in the 50th percentile in the nation and the 73rd percentile in New Jersey. While Toms River’s UV rating is slightly lower than the national average of 4.29, it is higher than New Jersey’s average of 4.04. By harnessing solar energy through panels, residents can still benefit from the sun’s energy even with slightly lower UV levels.
Toms River’s Cloud Cover
With an average of 45% cloud cover in the last year, Toms River is in the 54th percentile in the nation and the 30th percentile in New Jersey. Compared to the national average of 44.46% cloud cover, Toms River experiences slightly more cloudy days. However, with 118 days of low cloud cover, residents can still generate solar energy efficiently throughout the year by installing panels.
Toms River New Jersey Electricity Costs
Residents of Toms River, New Jersey pay about $0.13/kw for electricity, placing the area in the 71st percentile in the nation and the 9th percentile in New Jersey. While the national average for residential electricity remains at $0.13/kw, New Jersey’s average is higher at $0.16/kw. By switching to solar energy, residents can save money on their electricity bills and reduce their reliance on traditional sources of power.
When could you expect to break even on a solar installation in Toms River New Jersey?
Considering the weather and electricity costs in Toms River, 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:
- Toms River gets more precipitation than the national average, which can affect solar panel efficiency, but it still receives a good amount of sunlight.
- The UV ratings in Toms River are slightly lower than the national average, but they are still suitable for generating solar power.
- Cloud cover in Toms River is about average for the country, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Toms River pay the national average for electricity.
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 purchased from the grid.
- With average electricity rates, the savings are significant over time.
After crunching the numbers, it seems that it would take around 5 years to cover the initial cost of the solar panels. This means that after 5 years, the money saved on electricity bills will start to accumulate and pay off the investment. Furthermore, since solar panels last for many years, you will continue to enjoy those savings long after the initial investment is covered. Investing in solar panels is not only a smart financial decision but also a way to contribute to a cleaner environment.
Investing in solar power in Toms River New Jersey
Installing solar panels in Toms River, New Jersey is a wise investment that can lead to significant financial benefits for residents. With the area’s high number of sunny days and relatively low precipitation levels, harnessing solar energy can help homeowners break even on their investment in just a few years. By analyzing weather data and electricity costs specific to Toms River, we have determined that investing in solar panels is not only a way to save money on electricity bills but also a step towards a cleaner environment. Consider going solar to start reaping the benefits of this sustainable and cost-effective energy source.