Overview
If you’re looking to save money on your electricity bills and make a positive impact on the environment, installing solar panels on your home in Chicago, Illinois may be a wise decision. In this article, we will break down the financial benefits of investing in a solar system by using weather data specific to Chicago, including inches of precipitation, average max UV rating, average UV rating, and average of percentage cloud cover over 365 days. By estimating the cost of a solar system and calculating how long it will take to break even, we hope to show you why going solar in Chicago is a smart financial move.
Chicago Illinois Weather Trends
Chicago Precipitation
With 48.29 inches of precipitation in the last year, Chicago falls in the 45th percentile in the nation and the 76th percentile in Illinois. Compared to the national average of 50.61 inches and Illinois’s average of 45.69 inches, Chicago’s weather conditions are ideal for solar panel installation. By harnessing the power of the sun, you can take advantage of Chicago’s moderate rainfall to generate clean and renewable energy for your home.
Chicago’s UV Rating
Chicago’s average UV rating of 3.62 places it in the 25th percentile in the nation and the 3rd percentile in Illinois. Although it may seem lower than the national average of 4.29 and Illinois’s average of 4.21, Chicago still receives sufficient sunlight to make solar panels a worthwhile investment. With an average max UV rating of 3.75, Chicago’s sunny days can help you save money on your electricity bills and reduce your carbon footprint.
Chicago’s Cloud Cover
Chicago’s average of 48% cloud cover positions it in the 66th percentile in the nation and the 91st percentile in Illinois. Compared to the national average of 44.46% and Illinois’s average of 44.03%, Chicago experiences a favorable amount of sunlight throughout the year. With a mix of clear and partly cloudy days, you can rely on solar panels to consistently generate electricity for your home in Chicago.
Chicago Illinois Electricity Costs
Chicago residents pay about $0.13/kw for electricity, placing the city in the 77th percentile in the nation and the 71st percentile in Illinois. While the national average for residential electricity is the same at $0.13/kw, Illinois’s average is slightly lower at $0.12/kw. By transitioning to solar power, you can protect yourself from rising electricity costs and enjoy long-term savings on your energy bills in Chicago.
When could you expect to break even on a solar installation in Chicago Illinois?
Considering the weather and electricity costs in Chicago, Illinois, 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:
- Chicago gets slightly less rain than the national average, making it a suitable location for solar panels.
- The UV ratings are a bit lower than the national average but still good for generating solar power efficiently.
- Cloud cover in Chicago is close to the national average, with varying percentages throughout the year.
Now, let’s consider the electricity costs:
- Residents in Chicago pay about the national average for electricity, which is $0.13/kw.
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.
- With electricity costs at $0.13/kw, the savings may vary depending on usage and sunlight efficiency.
After analyzing the data, it appears that it could take around 5-6 years to cover the initial cost of the solar panels. This means that after this period, the money saved on electricity bills will start to accumulate and pay off the investment. Additionally, with solar panels lasting between 25 and 30 years, there will be significant savings for many years to come. It’s a wise investment for both your finances and the environment!
Investing in solar power in Chicago Illinois
Investing in solar panels for your home in Chicago, Illinois can provide significant long-term financial benefits. By analyzing the weather data specific to Chicago, including precipitation, UV ratings, and cloud cover, as well as the electricity costs in the city, we have determined that it could take around 5-6 years to break even on the initial cost of a solar system. With solar panels lasting up to 30 years, the accumulated savings on electricity bills will far exceed the initial investment. Transitioning to solar power not only saves you money but also reduces your carbon footprint, making it a smart financial move for Chicago residents.