Overview
Living in Ely, Iowa, you may have considered the idea of installing solar panels on your home but wondered if it is truly worth the investment. By analyzing the weather data for the area, including inches of precipitation, average max UV rating, average UV rating, and average percentage cloud cover, along with basic electricity costs, we can show you the financial benefits of making the switch to solar energy. With a breakdown of the cost of a solar system and an estimate of how long it will take to break even, you will see how going solar can save you money in the long run.
Ely Iowa Weather Trends
Ely Precipitation
With Ely, Iowa receiving 33.85 inches of precipitation in the last year, it is important to note that this falls below both the national average of 50.61 inches and Iowa’s average of 36.9 inches. By harnessing solar energy, you can ensure a stable source of power regardless of weather conditions, saving you money in the long run.
Ely’s UV Rating
Considering Ely’s average UV rating of 3.99, the city is slightly below the national average of 4.29 but above Iowa’s average of 4.06. Installing solar panels can capitalize on Ely’s UV exposure, helping you produce clean energy and reduce your reliance on traditional power sources.
Ely’s Cloud Cover
With an average cloud cover of 44%, Ely is in a good position to benefit from solar energy. Despite being above the national average of 44.46%, Ely still sees a significant number of clear days. By tapping into this potential, you can generate electricity and lower your utility bills over time.
Ely Iowa Electricity Costs
Compared to the national and state averages, Ely residents pay slightly more for electricity at $0.14/kw. By transitioning to solar power, you can shield yourself from future rate hikes and see a substantial decrease in your monthly energy expenses. Investing in solar panels now will lead to significant savings down the line.
When could you expect to break even on a solar installation in Ely Iowa?
Considering the weather and electricity costs in Ely, Iowa, 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:
- Ely, Iowa receives less total precipitation than the national average, making it a suitable location for solar panels.
- The UV ratings in Ely, Iowa are slightly lower than the national average, but still conducive to generating solar power.
- Cloud cover in Ely, Iowa is around the national average, with some variability throughout the year.
Now, let’s consider the electricity costs:
- Residents in Ely, Iowa 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 as much from the grid.
- Considering Ely’s higher electricity rates, the savings from using solar power are significant.
After analyzing the data, it appears that it would take approximately 5-6 years to cover the initial cost of the solar panels in Ely, Iowa. This means that after 5-6 years, the money saved on electricity bills will begin to accumulate and offset the investment. Additionally, since solar panels have a long lifespan, the savings will continue for many years beyond the initial payback period. Investing in solar panels not only allows for cost savings but also contributes to a greener environment.
Investing in solar power in Ely Iowa
Investing in solar panels in Ely, Iowa can be a financially wise decision. By analyzing the weather data and electricity costs in the area, it is evident that switching to solar energy can save you money in the long run. With lower precipitation levels, decent UV exposure, and manageable cloud cover, Ely provides a suitable environment for generating solar power. Considering the slightly higher electricity costs in Ely, transitioning to solar energy can help shield you from future rate hikes and significantly decrease your monthly expenses. Based on the data, it would take about 5-6 years to break even on the initial investment, after which you will continue to save money on electricity bills for many more years. Investing in solar panels is not only a sound financial choice but also a step towards a more sustainable future.