Overview
Are you an Elgin Tennessee resident looking to save money on your electricity bills? Installing solar panels on your home could be a smart financial decision. In this article, we will analyze weather data specific to Elgin Tennessee, along with basic electricity costs, to show you how investing in a solar system can help you break even in a reasonable amount of time. Let’s dive in and see how going solar can benefit your wallet in the long run.
Elgin Tennessee Weather Trends
Elgin Precipitation
With 48.36 inches of precipitation in the last year, Elgin Tennessee falls in the 5th percentile in the state and the 45th percentile nationwide. Compared to the national average of 50.61 inches and Tennessee’s average of 58.16 inches, Elgin’s lower precipitation levels make it an ideal location for solar panel installation.
Elgin’s UV Rating
Elgin Tennessee boasts an average UV rating of 4.77, ranking in the 72nd percentile in the nation and the state. When compared to the national average of 4.29 and Tennessee’s average of 4.65, Elgin’s higher UV rating indicates increased solar energy potential, making it a prime location for solar panel utilization.
Elgin’s Cloud Cover
With an average of 46% cloud cover, Elgin Tennessee is situated in the 83rd percentile in the state and the 59th percentile nationwide. Although cloud cover is a factor in solar energy generation, Elgin’s relatively low cloud cover makes it an advantageous location for solar panel installation, allowing for more sunlight exposure.
Elgin Tennessee Electricity Costs
At $0.12/kw, Elgin Tennessee residents pay less for electricity compared to the national average of $0.13/kw. Despite being in the 97th percentile in Tennessee, Elgin’s electricity costs are still reasonable. By investing in solar panels, residents can offset their electricity expenses over time and save money in the long run.
When could you expect to break even on a solar installation in Elgin Tennessee?
Considering the weather and electricity costs in Elgin Tennessee, 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 Tennessee gets slightly less rain than the national average, with good UV ratings and moderate cloud cover throughout the year.
Now, let’s consider the electricity costs:
- Residents in Elgin Tennessee pay slightly less 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, which means we don’t need to buy as much from the grid.
- With Elgin Tennessee’s electricity rates, the savings are decent.
After crunching the numbers, it looks like it would take around 6-7 years to cover the initial cost of the solar panels. That means, after 6-7 years, the money you save on electricity bills will start to add up and pay off the investment. And remember, solar panels last for a long time, so after that initial period, you’ll be enjoying those savings for many years to come. It’s a smart way to save money and help the environment at the same time!
Investing in solar power in Elgin Tennessee
Installing solar panels in Elgin Tennessee can be a wise financial decision for residents looking to save money on their electricity bills. With lower precipitation levels, higher UV ratings, and moderate cloud cover, Elgin offers an ideal location for solar panel installation. Additionally, with electricity costs below the national average, investing in solar panels can help residents offset their expenses over time. By analyzing the weather data and electricity costs in Elgin Tennessee, we have determined that it would take around 6-7 years to break even on the initial cost of a solar installation. After this period, residents can enjoy significant savings on their electricity bills for many years to come. Going solar not only benefits your wallet but also the environment, making it a smart choice for Elgin Tennessee residents.