Overview
In Elgin, Oklahoma, installing solar panels on your home can bring significant financial benefits. By analyzing weather data and electricity costs specific to Elgin, we can show you how much you can save by harnessing the power of the sun. With a breakdown of the cost of a solar system and an estimate of the time it takes to break even, this article will highlight the long-term savings that come with making the switch to solar energy.
Elgin Oklahoma Weather Trends
Elgin Precipitation
In the last year, Elgin Oklahoma received 39.1 inches of precipitation, ranking it in the 26th percentile in the nation and the 14th percentile in Oklahoma. Compared to the national average of 50.61 inches and Oklahoma’s average of 46.74 inches, Elgin experiences less precipitation, making it an ideal location for solar panel installation. Harnessing the power of the sun in a region with lower rainfall can lead to increased efficiency and cost savings over time.
Elgin’s UV Rating
With an average UV rating of 5.36, Elgin Oklahoma ranks in the 86th percentile in the nation and the 84th percentile in Oklahoma. Compared to the national average of 4.29 and Oklahoma’s average of 5.2, Elgin receives higher levels of sunlight exposure, making it a prime location for solar energy production. The abundance of sunlight in Elgin means that homeowners can generate more energy from their solar panels, leading to greater savings on electricity bills.
Elgin’s Cloud Cover
In the last year, Elgin Oklahoma experienced an average of 31% cloud cover, placing it in the 8th percentile in the nation and the 20th percentile in Oklahoma. Compared to the national average of 44.46% and Oklahoma’s average of 33.43%, Elgin sees less cloud cover, allowing for more consistent solar energy production. The fewer clouds in the sky, the more sunlight reaches solar panels, resulting in increased energy generation and greater financial benefits for Elgin residents.
Elgin Oklahoma Electricity Costs
Residents of Elgin pay about $0.1/kw for electricity, positioning the town in the 16th percentile in the nation and the 31st percentile in Oklahoma. In comparison, the national average for residential electricity is $0.13/kw, while Oklahoma’s average is $0.11/kw. With lower electricity costs in Elgin, coupled with high sunlight exposure and minimal cloud cover, investing in solar panels can lead to significant long-term savings on energy bills while reducing environmental impact.
When could you expect to break even on a solar installation in Elgin Oklahoma?
Considering the weather and electricity costs in Elgin 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:
- Elgin Oklahoma receives slightly less precipitation compared to the national average, making it a good location for solar panels.
- The UV ratings in Elgin Oklahoma are higher than the national average, which is great for generating solar power effectively.
- Elgin Oklahoma has lower cloud cover compared to the national average, with a good number of sunny days throughout the year.
Now, let’s consider the electricity costs:
- Residents in Elgin Oklahoma pay less for electricity compared to the national average, making solar power a cost-effective option.
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, resulting in savings on electricity bills.
- With Elgin Oklahoma’s lower electricity rates, the savings over time will be significant.
After analyzing the data, it appears that it would take approximately 4-6 years to cover the initial cost of the solar panels in Elgin Oklahoma. This means that after this period, the savings on electricity bills will surpass the initial investment. Additionally, since solar panels have a long lifespan, the savings will continue for many years, making it a wise financial and environmentally friendly choice.
Investing in solar power in Elgin Oklahoma
In Elgin, Oklahoma, harnessing the power of solar energy through the installation of panels on your home can lead to substantial financial advantages. By analyzing the specific weather data and electricity costs of Elgin, we have identified the ideal conditions for savings over the long term. With lower precipitation, high UV ratings, and minimal cloud cover, combined with affordable electricity rates, investing in solar panels in Elgin can result in significant energy bill savings. By investing in solar energy, residents can expect to break even on their initial investment in approximately 4-6 years, with continued savings and environmental benefits for many more years to come.