Overview
In Faywood, New Mexico, installing solar panels on your home can lead to significant cost savings on your electricity bill. By analyzing weather data and electricity costs over 365 days, we can show you how much money you could potentially save by switching to solar power. With the right system in place, you can break even on your investment in a reasonable amount of time, ultimately putting money back into your pocket.
Faywood New Mexico Weather Trends
Faywood Precipitation
In the last year, Faywood New Mexico received 9.28 inches of precipitation, ranking in the 1st percentile in the nation and the 33rd percentile in New Mexico. Comparatively, the national average for total precipitation is 50.61 inches, while New Mexico’s average is 13.78 inches. With such low precipitation levels, installing solar panels in Faywood can be a wise decision, as it allows you to harness the available sunlight more effectively.
Faywood’s UV Rating
Faywood New Mexico had an average UV rating of 4.8 in the last year, placing it in the 73rd percentile in the nation and the 59th percentile in New Mexico. These rankings show that Faywood receives ample sunlight, which is essential for generating solar power efficiently. With an average max UV rating of 5.2, Faywood remains in a favorable position to benefit from solar energy compared to many other areas in the country.
Faywood’s Cloud Cover
Over the last year, Faywood New Mexico had an average of 19% cloud cover, ranking in the 1st percentile in the nation and the 13th percentile in New Mexico. This low cloud cover percentage indicates that Faywood experiences clear skies for the most part, making it an ideal location for solar panel installation. With numerous days of minimal cloud cover, residents can expect consistent energy production from their solar panels throughout the year.
Faywood New Mexico Electricity Costs
Residents of Faywood currently pay about $0.14/kw for electricity, which positions them in the 88th percentile in the nation and the 60th percentile in New Mexico. While the national average for residential electricity stands at $0.13/kw, New Mexico’s average is slightly higher at $0.15/kw. By switching to solar power, Faywood residents can significantly reduce their electricity costs over time and potentially even earn money through net metering programs.
When could you expect to break even on a solar installation in Faywood New Mexico?
Considering the weather and electricity costs in Faywood 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:
- Faywood New Mexico receives less precipitation than the national average, which is ideal for solar panel operation.
- The UV ratings in Faywood New Mexico are higher than the national average, making it a great location for generating solar power.
- Cloud cover in Faywood New Mexico is significantly lower than the national average, with a majority of days experiencing low levels of cloud cover.
Now, let’s consider the electricity costs:
- Residents in Faywood 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:
- The system generates electricity, which means residents don’t need to buy as much from the grid.
- With Faywood New Mexico’s slightly higher electricity rates, the savings are still significant.
After crunching the numbers, it looks like it would take around 6-7 years to cover the initial cost of the solar panels. That means, after this period, the money saved on electricity bills will start to accumulate and pay off the investment. And remember, solar panels last for a long time, so after that initial period, residents will continue to enjoy those savings for many years to come. It’s a wise way to save money and contribute to a greener environment!
Investing in solar power in Faywood New Mexico
Switching to solar power in Faywood, New Mexico can result in substantial savings on electricity bills. With the right system in place, residents can expect to break even on their investment in about 6-7 years. After this initial period, the money saved on electricity bills will continue to accumulate, offering long-term financial benefits. Additionally, Faywood’s abundant sunlight and low cloud cover make it an ideal location for solar panel installation, ensuring consistent energy production throughout the year. By investing in solar power, residents not only save money but also contribute to a greener environment for future generations.