Overview
If you live in Craig, Colorado, you may be wondering if installing solar panels on your home is worth the investment. By analyzing the weather data for the area, along with basic electricity costs, we can show you how much money you could save by going solar. We will break down the cost of a solar system, estimate how long it will take to break even, and highlight the financial benefits of making the switch to renewable energy.
Craig Colorado Weather Trends
Craig Precipitation
With only 18.23 inches of precipitation in the last year, Craig, Colorado ranks in the 5th percentile nationwide and the 13th percentile in Colorado. Compared to the national average of 50.61 inches, Craig receives significantly less rainfall, making it an ideal location for solar panel installation.
Craig’s UV Rating
Despite its high elevation, Craig, Colorado still boasts an average UV rating of 3.49, placing it in the 19th percentile across the nation and the 26th percentile in Colorado. The national average may be slightly higher at 4.29, but Craig’s rating is more than sufficient for effective solar energy production.
Craig’s Cloud Cover
With an average of 37% cloud cover in the last year, Craig, Colorado ranks in the 17th percentile nationwide and the 79th percentile in Colorado. Compared to the national average of 44.46%, Craig experiences fewer cloudy days, allowing for more consistent solar energy generation throughout the year.
Craig Colorado Electricity Costs
Residential electricity in Craig, Colorado costs about $0.13/kw, placing it in the 79th percentile nationally and the 42nd percentile in Colorado. Although the national average is the same, Colorado’s average is slightly higher at $0.14/kw. By harnessing solar power, Craig residents can save on their electricity bills in the long run.
When could you expect to break even on a solar installation in Craig Colorado?
Considering the weather and electricity costs in Craig, Colorado, 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:
- Craig, Colorado receives less precipitation compared to the national average, making it a suitable location for solar panels.
- The UV ratings in Craig, Colorado are slightly lower than the national average, but still good for generating solar power.
- Cloud cover in Craig, Colorado is slightly below the national average, with days varying in cloudiness throughout the year.
Now, let’s consider the electricity costs:
- Residents in Craig, Colorado pay the same average price for electricity as 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 solar system generates electricity, reducing the amount purchased from the grid.
- With the average electricity costs, the savings from using solar power are consistent.
After analyzing the data, it appears that it would take approximately 5 years to cover the initial cost of the solar panels in Craig, Colorado. This means that after 5 years, the money saved on electricity bills will begin to offset the investment. Furthermore, considering the long lifespan of solar panels, these savings will continue for years to come. Investing in solar panels not only saves money but also contributes to environmental sustainability.
Investing in solar power in Craig Colorado
After carefully analyzing the weather trends, electricity costs, and potential savings from using solar power in Craig, Colorado, it is evident that investing in solar panels is a financially sound decision. With the right conditions for solar energy generation, residents of Craig can expect to break even on their investment in approximately 5 years. Beyond the initial cost recovery, the savings on electricity bills and the long lifespan of solar panels make this switch to renewable energy not only economically beneficial but also environmentally friendly.