Overview
Are you considering installing solar panels on your home in Cromwell, Indiana? The financial benefits are certainly worth exploring. By analyzing weather data and electricity costs specific to Cromwell, we can estimate the cost of a solar system and how long it will take for you to break even. With an abundance of sunshine and a steady increase in electricity rates, investing in solar panels could save you money in the long run. Let’s dive into the numbers and see how going solar can benefit you financially.
Cromwell Indiana Weather Trends
Cromwell Precipitation
With Cromwell receiving 46.04 inches of precipitation last year, it falls in the 40th percentile nationally and the 43rd percentile in Indiana. Compared to the national average of 50.61 inches, Cromwell sees slightly less rainfall on average. However, Indiana’s average of 50.24 inches is quite similar to Cromwell’s amount of precipitation.
Cromwell’s UV Rating
In terms of UV rating, Cromwell had an average of 3.73, placing it in the 31st percentile nationally and the 10th percentile within Indiana. While the national average UV rating is 4.29, Indiana’s average is 4.23. Additionally, Cromwell’s average max UV rating of 4.03 puts it in the 32nd percentile nationwide and the 15th percentile in Indiana, slightly below the national and state averages.
Cromwell’s Cloud Cover
On average, Cromwell experiences 50% cloud cover, ranking it in the 74th percentile nationally and the 86th percentile in Indiana. This is higher than the national average of 44.46% but in line with Indiana’s average of 47.27%. Throughout the year, Cromwell had varying cloud cover percentages, with 92 days of clear skies, 99 days of partial cloud cover, 78 days of mostly cloudy conditions, and 95 days of overcast skies.
Cromwell Indiana Electricity Costs
Residents of Cromwell pay around $0.14 per kilowatt-hour for electricity, placing them in the 85th percentile nationwide and the 78th percentile within Indiana. This is slightly higher than the national average of $0.13/kw but on par with Indiana’s average rate. With electricity costs steadily rising, investing in solar panels in Cromwell could lead to significant savings in the long run.
When could you expect to break even on a solar installation in Cromwell Indiana?
Considering the weather and electricity costs in Cromwell Indiana, 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:
- Cromwell Indiana receives slightly less precipitation compared to the national average, making it a good location for solar panels.
- The UV ratings in Cromwell Indiana are slightly lower than the national average, but still suitable for generating solar power.
- Cloud cover in Cromwell Indiana is around average for the country, with some variability throughout the year.
Now, let’s consider the electricity costs:
- Residents in Cromwell Indiana pay slightly more for electricity compared to 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 system generates electricity, reducing the need to purchase from the grid.
- Given Cromwell Indiana’s higher electricity rates, the savings from using solar power would be significant.
After doing the calculations, it appears that it would take approximately 6 years to recoup the initial cost of the solar panels. This means that after 6 years, the savings on electricity bills will start to offset the investment. Furthermore, since solar panels have a lifespan of 25 to 30 years, you will continue to benefit from these savings for many more years. Investing in solar power is not only a financially wise decision but also an environmentally friendly one.
Investing in solar power in Cromwell Indiana
Installing solar panels in Cromwell, Indiana can be a smart financial decision, considering the weather trends and electricity costs in the area. With the potential to recoup the initial investment in around 6 years and then continue to benefit from savings for decades to come, going solar is not only a wise choice for your wallet but also for the environment. The combination of abundant sunshine and rising electricity rates in Cromwell makes solar power a viable and beneficial option for homeowners looking to save money in the long run.