Overview
Are you a Collingswood resident looking to save money on your electricity bills? Installing solar panels on your home could be the solution for you! By analyzing weather data specific to Collingswood, New Jersey, and considering the basic electricity cost, we can estimate how long it would take for you to break even on the cost of a solar system. This article will break down the financial benefits of going solar in Collingswood and show you how you can start saving money on your energy bills.
Collingswood New Jersey Weather Trends
Collingswood Precipitation
With an average of 58.08 inches of precipitation in the last year, Collingswood, New Jersey is in the 66th percentile in the nation and the 10th percentile in the state. Compared to the national average of 50.61 inches, Collingswood receives more rainfall. While New Jersey’s average is higher at 65.31 inches, the precipitation in Collingswood is still significant. Installing solar panels can help take advantage of all this rain and convert it into energy savings.
Collingswood’s UV Rating
Collingswood New Jersey had an average UV rating of 4.21, placing it in the 54th percentile in the nation and the 85th percentile in New Jersey. Compared to the national average of 4.29, Collingswood’s UV rating is slightly lower. However, New Jersey’s average UV rating is even lower at 4.04. This means that Collingswood residents have a good amount of sun exposure to generate solar energy, making it an ideal location for solar panel installation.
Collingswood’s Cloud Cover
Collingswood had an average of 45% cloud cover in the last year, placing it in the 53rd percentile in the nation and the 27th percentile in New Jersey. While the national average for cloud cover is 44.46%, New Jersey’s average is slightly higher at 45.99%. With a good number of days featuring clear skies, installing solar panels in Collingswood can maximize energy production and savings.
Collingswood New Jersey Electricity Costs
Collingswood residents pay about $0.17/kw for electricity, which is higher than both the national average of $0.13/kw and New Jersey’s average of $0.16/kw. By investing in solar panels, residents can reduce their reliance on traditional electricity sources and lower their energy bills over time. With the combination of higher electricity costs and favorable weather conditions, going solar in Collingswood is a smart financial decision.
When could you expect to break even on a solar installation in Collingswood New Jersey?
Considering the weather and electricity costs in Collingswood New Jersey, 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:
- Collingswood gets slightly more rain than the national average, but it still has enough sunny days for solar panels to function effectively.
- The UV ratings in Collingswood are close to the national average, making it a suitable location for generating solar power.
- Cloud cover in Collingswood is also similar to the national average, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Collingswood pay more for electricity compared to the national average, which makes using solar power 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:
- Solar panels generate electricity, reducing the amount needed to be purchased from the grid.
- Given Collingswood’s higher electricity rates, the cost savings are even more significant.
After analyzing the numbers, it appears that it would take approximately 5 years to recoup the initial cost of the solar panels. This means that after 5 years, the money saved on electricity bills will begin to offset the investment. Moreover, since solar panels have a long lifespan, those savings will continue for many years to come. It’s a smart financial decision that also promotes environmental sustainability!
Investing in solar power in Collingswood New Jersey
In conclusion, investing in solar panels in Collingswood, New Jersey can be a smart financial decision for residents looking to save money on their electricity bills. With higher electricity costs in the area and favorable weather conditions for solar energy production, residents could break even on their investment in approximately 5 years. Not only will this lead to long-term savings on energy bills, but it also contributes to environmental sustainability. Consider going solar in Collingswood and start saving on your energy costs today!