Overview
Are you a resident of Lakewood, New Mexico looking to save money on your electricity bill? Installing solar panels on your home could be the solution for you! By analyzing weather data specific to Lakewood, New Mexico, and comparing basic electricity costs, we can estimate how long it would take for you to break even on the cost of a solar system. Let’s explore the financial benefits of going solar in Lakewood, New Mexico.
Lakewood New Mexico Weather Trends
Lakewood Precipitation
Living in Lakewood, New Mexico means you experience very little precipitation throughout the year, with only 6.86 inches falling on average. Compared to the rest of the country, Lakewood falls in the 1st percentile, showcasing its dry climate. In comparison to the rest of New Mexico, Lakewood sits in the 16th percentile. With the national average at 50.61 inches and New Mexico’s average at 13.78 inches, it’s clear that Lakewood’s low precipitation levels make it an ideal location for solar panel installation.
Lakewood’s UV Rating
Lakewood, New Mexico boasts an impressive average UV rating of 5.74, placing it in the 92nd percentile in the nation and the 93rd percentile in New Mexico. The national average for UV rating is 4.29, while New Mexico’s average is 4.67. Additionally, Lakewood’s average max UV rating of 6.38, landing it in the 85th percentile nationwide and the 94th percentile within New Mexico. These high UV ratings indicate the abundance of sunlight in Lakewood, making it an ideal location for solar energy generation.
Lakewood’s Cloud Cover
With an average cloud cover of only 19%, Lakewood, New Mexico boasts clear skies for the majority of the year, placing it in the 1st percentile nationally and the 15th percentile in New Mexico. In comparison, the national average for cloud cover sits at 44.46%, and New Mexico’s average is 22.75%. Additionally, with 263 days of minimal cloud cover between 0% and 25%, 69 days with moderate cloud cover between 25% and 50%, and very few days with heavy cloud cover, Lakewood provides optimal conditions for solar panel efficiency.
Lakewood New Mexico Electricity Costs
Residents of Lakewood, New Mexico enjoy relatively low electricity costs, paying about $0.1/kw. This places Lakewood in the 8th percentile nationally and the 12th percentile within New Mexico. In comparison, the national average for residential electricity is $0.13/kw, while New Mexico’s average is slightly higher at $0.15/kw. With these lower electricity costs, coupled with Lakewood’s favorable weather conditions for solar energy production, installing solar panels can lead to significant long-term savings on your electricity bill.
When could you expect to break even on a solar installation in Lakewood New Mexico?
Considering the weather and electricity costs in Lakewood, 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:
- Lakewood gets significantly less rain compared to the national average, making it a good location for solar panels.
- The UV ratings in Lakewood are higher than the national average, providing great conditions for generating solar power.
- Cloud cover in Lakewood is much lower than the national average, with most days having little to no clouds.
Now, let’s consider the electricity costs:
- Residents in Lakewood pay lower rates for electricity compared to the national average, making solar even more cost-effective.
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, especially with the low electricity costs in Lakewood.
After crunching the numbers, it looks like it would take around 5-6 years to cover the initial cost of the solar panels. This means that after 5-6 years, the savings on electricity bills will start to add up and pay off the investment. And with solar panels lasting 25-30 years, you will continue to enjoy those savings for many years beyond the break-even point. It’s a smart investment that not only saves money but also helps the environment in the long run!
Investing in solar power in Lakewood New Mexico
Installing solar panels in Lakewood, New Mexico can be a smart investment that provides significant long-term benefits. With the city’s low precipitation, high UV ratings, and minimal cloud cover, it offers ideal conditions for solar energy generation. Additionally, residents benefit from lower electricity costs, making the switch to solar even more cost-effective. By analyzing the weather data and electricity costs, we can estimate that it would take approximately 5-6 years to break even on the initial cost of a solar system. This means that after this period, the savings on electricity bills will start to accumulate and pay off the investment. Not only does installing solar panels save money, but it also contributes to a cleaner environment in the long run. Overall, going solar in Lakewood, New Mexico is a wise decision that offers both financial and environmental advantages.