Overview
In sunny Santa Fe, New Mexico, installing solar panels on your home can lead to significant financial savings in the long run. By analyzing weather data and electricity costs over the course of a year, we will show you just how much you can save by making the switch to solar energy. From the cost breakdown of a solar system to estimating the timeframe for breaking even, this article will demonstrate the financial benefits of going solar in Santa Fe.
Santa Fe New Mexico Weather Trends
Santa Fe Precipitation
In the last year, Santa Fe New Mexico received 17.47 inches of precipitation. Compared to the rest of the country, Santa Fe falls into the 4th percentile, showcasing its dry climate. In contrast, within New Mexico, Santa Fe ranks in the 73rd percentile for precipitation levels. With the national average total precipitation at 50.61 inches and New Mexico’s average at 13.78 inches, Santa Fe’s lower rainfall makes it an ideal location for solar energy generation.
Santa Fe’s UV Rating
Over the past year, Santa Fe New Mexico had an average UV rating of 3.95, placing it in the 43rd percentile nationwide. While this may seem moderate, Santa Fe’s UV rating is lower than the national average of 4.29. When compared to New Mexico’s average UV rating of 4.67, Santa Fe is at the 14th percentile in the state. This means that Santa Fe’s sunlight exposure is ample for efficient solar panel performance.
Santa Fe’s Cloud Cover
With an average of 24% cloud cover in the last year, Santa Fe New Mexico ranks in the 4th percentile nationally. While this may suggest occasional cloudy days, Santa Fe’s 78th percentile standing within New Mexico indicates generally clear skies. The national average for cloud cover is 44.46%, significantly higher than Santa Fe’s average. With the majority of days experiencing low cloud cover, Santa Fe offers ideal conditions for solar panel installation.
Santa Fe New Mexico Electricity Costs
Residents of Santa Fe New Mexico pay approximately $0.14 per kw for electricity, positioning the city in the 86th percentile nationally. While this cost is slightly above the national average of $0.13/kw, Santa Fe’s electricity rates are below New Mexico’s average of $0.15/kw. By harnessing the abundant sunlight and minimizing reliance on traditional electricity sources, Santa Fe residents can significantly reduce their energy bills by transitioning to solar power.
When could you expect to break even on a solar installation in Santa Fe New Mexico?
Considering the weather and electricity costs in Santa Fe, New Mexico, 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:
- Santa Fe gets less rain than the national average, which is beneficial for solar panel efficiency.
- While the UV ratings are slightly lower than the national average, they are still good for generating solar power.
- Cloud cover in Santa Fe is lower than the national average, with varying percentages throughout the year.
Now, let’s consider the electricity costs:
- Residents in Santa Fe pay slightly more 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.
- Considering Santa Fe’s higher electricity rates, the savings from solar power usage are significant.
After calculation, it’s estimated that it would take around 4-5 years to cover the initial cost of the solar panels. This means that after 4-5 years, the money saved on electricity bills will start to accumulate and pay off the investment. Given that solar panels can last for up to 30 years, the long-term savings and environmental benefits make investing in solar power a wise choice for Santa Fe residents.
Investing in solar power in Santa Fe New Mexico
With its abundance of sunlight and lower-than-average electricity costs, Santa Fe, New Mexico is a prime location for investing in solar energy. Analyzing the weather trends and electricity rates in the city shows that residents can expect to break even on a solar panel installation within 4-5 years. Not only does this mean long-term financial savings, but it also provides environmental benefits. By making the switch to solar power, Santa Fe homeowners can reduce their reliance on traditional electricity sources and contribute to a greener future for the city.