Overview
This article will show you the financial benefits of installing solar panels on your home in Las Vegas, New Mexico. By analyzing weather data and electricity costs specific to your area, we will demonstrate how much money you can save over time by making the switch to solar energy. We will break down the cost of a solar system and estimate how long it will take for you to recoup your investment, making a compelling case for why solar power is a smart choice for your wallet.
Las Vegas New Mexico Weather Trends
Las Vegas Precipitation
With Las Vegas, New Mexico receiving 20.29 inches of precipitation in the last year, it is clear that the city is on the drier side. In comparison to the rest of the country, Las Vegas falls in the 6th percentile, while within New Mexico, it is in the 86th percentile. Considering the national average of 50.61 inches, and New Mexico’s average of 13.78 inches, it is evident that Las Vegas experiences significantly less rainfall.
Las Vegas’s UV Rating
Las Vegas, New Mexico had an average UV rating of 4.24 in the last year. This places the city in the 55th percentile nationally and the 30th percentile within New Mexico. Comparing this to the national average of 4.29 and New Mexico’s average of 4.67, Las Vegas enjoys moderate UV levels. Additionally, the average max UV rating in Las Vegas was 4.67, putting it in the 49th percentile in the nation and the 31st percentile in New Mexico, further highlighting the favorable sunlight conditions.
Las Vegas’s Cloud Cover
With an average cloud cover of 23% in the last year, Las Vegas, New Mexico is fortunate to have relatively clear skies. This places the city in the 3rd percentile nationally and the 57th percentile in New Mexico. Compared to the national average of 44.46% and New Mexico’s average of 22.75%, it is evident that Las Vegas experiences fewer cloudy days. With a significant number of days having minimal cloud cover, residents can benefit from ample sunshine for solar energy production.
Las Vegas New Mexico Electricity Costs
Residents of Las Vegas, New Mexico pay around $0.14 per kilowatt-hour for electricity, making it slightly higher than the national average of $0.13/kw. However, when compared to New Mexico’s average of $0.15/kw, Las Vegas is fairly competitively priced. By switching to solar energy, homeowners can offset these electricity costs, especially with the city’s favorable weather conditions that are conducive to efficient solar panel performance.
When could you expect to break even on a solar installation in Las Vegas New Mexico?
Considering the weather and electricity costs in Las Vegas, 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:
- Las Vegas, New Mexico, receives less precipitation than the national average, making it an ideal location for solar panels.
- The UV ratings in Las Vegas, New Mexico, are slightly lower than the national average but still good for generating solar power.
- Las Vegas, New Mexico, has lower cloud cover than the national average, with many days having clear skies for solar panels to work efficiently.
Now, let’s consider the electricity costs:
- Residents in Las Vegas, New Mexico, 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:
- By generating electricity from the sun, you’ll reduce the amount of electricity you need to buy from the grid.
- With electricity costs in Las Vegas, New Mexico, the savings from using solar power will be significant.
After crunching the numbers, it looks like it would take approximately 7-8 years to cover the initial cost of the solar panels. This means that after 7-8 years, the money you save on electricity bills will start to offset the investment in solar panels. And don’t forget, solar panels have a long lifespan, so you’ll continue to benefit from these savings for many years to come. Investing in solar power is a smart choice for both your finances and the environment!
Investing in solar power in Las Vegas New Mexico
Investing in solar power for your home in Las Vegas, New Mexico can be a wise financial decision. With favorable weather conditions and slightly higher-than-average electricity costs, solar panels can help you save money on your energy bills. By analyzing the data, we have determined that it would take approximately 7-8 years to recoup the initial cost of a solar system. This means that after this timeframe, the savings on electricity bills will start to outweigh the investment in solar panels. Not only will solar power benefit your wallet, but it is also a sustainable choice for the environment. Consider making the switch to solar energy to enjoy long-term financial savings and reduce your carbon footprint.