Overview
Are you a Canton Oklahoma resident looking to save money on your electricity bills? Installing solar panels on your home could be a smart investment. In this article, we will break down the financial benefits of installing a solar system in Canton based on weather data and electricity costs. By analyzing the average cost of electricity, along with the amount of sunlight the area receives, we will estimate how long it will take for you to break even on your investment. With the potential for significant savings on your monthly electricity bills, a solar system could be a cost-effective choice for your home in Canton.
Canton Oklahoma Weather Trends
Canton Precipitation
With Canton Oklahoma receiving 39.8 inches of precipitation in the last year, it falls below the national and state averages. Compared to the rest of the country, Canton is in the 27th percentile, while in Oklahoma, it is in the 18th. This lower precipitation rate means that solar panels in Canton may be less susceptible to potential water damage, leading to potentially longer lifespans for the system.
Canton’s UV Rating
Having an average UV rating of 5.15 in the last year, Canton Oklahoma outperforms both the national and state averages. Canton is in the 82nd percentile nationwide and the 44th percentile in Oklahoma. With such high UV ratings, solar panels in Canton have a greater potential to produce more electricity compared to areas with lower UV ratings, ultimately resulting in increased energy savings for residents.
Canton’s Cloud Cover
With an average cloud cover of 30% in the last year, Canton Oklahoma experiences less cloud coverage compared to the national and state averages. Canton falls in the 7th percentile in the nation and the 9th percentile in Oklahoma. With fewer cloudy days, solar panels in Canton will receive more sunlight, maximizing energy production and potentially increasing the financial benefits for homeowners.
Canton Oklahoma Electricity Costs
Residents of Canton pay about $0.1/kw for electricity, which is lower than the national average of $0.13/kw. Compared to the rest of the country, Canton is in the 18th percentile, and in Oklahoma, it is in the 35th percentile. With lower electricity costs in Canton, installing solar panels can lead to even greater savings on monthly utility bills, making it a financially appealing choice for homeowners looking to reduce their expenses.
When could you expect to break even on a solar installation in Canton Oklahoma?
Considering the weather and electricity costs in Canton Oklahoma, 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:
- Canton Oklahoma receives less precipitation than the national average, and the UV ratings are higher than the national average, making it a suitable location for solar panels.
- Cloud cover is lower than the national average, with a significant number of days having low cloud cover, which is beneficial for solar power generation.
Now, let’s consider the electricity costs:
- Canton Oklahoma residents pay less for electricity compared to the national average, which means lower savings by using solar power.
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 we don’t need to buy as much from the grid, leading to some savings.
- With lower electricity rates in Canton Oklahoma, the savings are slightly reduced compared to national average electricity costs.
After crunching the numbers, it looks like it would take around 8-10 years to cover the initial cost of the solar panels. That means, after 8-10 years, the money you save on electricity bills will start to add up and pay off the investment. And remember, solar panels last for a long time, so after that initial period, you’ll be enjoying those savings for many years to come. It’s a smart way to save money and help the environment at the same time!
Investing in solar power in Canton Oklahoma
Installing solar panels in Canton Oklahoma can be a great financial decision for residents looking to save money on their electricity bills. With lower precipitation rates, higher UV ratings, and less cloud cover compared to national averages, solar panels in Canton have the potential to generate more electricity and last longer. Additionally, with electricity costs lower than the national average, homeowners can expect significant savings over time. By considering the weather data and electricity costs in Canton, we estimate that it would take around 8-10 years to break even on the initial investment of a solar system. After that period, the savings on electricity bills will continue to accumulate, making solar panels a cost-effective choice for homeowners in Canton. Not only will it save you money in the long run, but it’s also a smart way to contribute to a greener environment.