Overview
If you live in Englewood, New Jersey, you might be wondering if investing in solar panels is worth it for your home. By analyzing weather data and electricity costs specific to Englewood, we can confidently show you the financial benefits of going solar. With the average cost of a solar system in mind, we’ll break down how quickly you can expect to break even on your investment, making it clear why going solar is a smart choice for your wallet.
Englewood New Jersey Weather Trends
Englewood Precipitation
With Englewood receiving 70.52 inches of precipitation in the last year, it is clear that the area experiences a significant amount of rainfall. Compared to the national average of 50.61 inches, Englewood is in the 89th percentile nationally and the 76th percentile in New Jersey. This abundance of rainfall presents a great opportunity for residents to benefit from the financial savings of solar panels, particularly in a region like Englewood.
Englewood’s UV Rating
Englewood’s average UV rating of 4 in the last year places it in the 46th percentile nationally and the 42nd percentile in New Jersey. While the national average for UV rating is slightly higher at 4.29, Englewood’s rating is still ideal for harnessing solar energy. Additionally, Englewood’s average max UV rating of 4.27 showcases the region’s potential for solar panel efficiency, making it a promising location for investing in solar technology.
Englewood’s Cloud Cover
With an average of 46% cloud cover in the last year, Englewood is in a favorable position for solar panel productivity. Compared to the national average of 44.46%, Englewood’s slightly higher cloud cover does not diminish the area’s potential for solar energy generation. Additionally, the distribution of cloud cover days in Englewood offers a good balance for consistent solar panel performance throughout the year.
Englewood New Jersey Electricity Costs
Englewood residents pay about $0.17/kw for electricity, positioning the area in the 96th percentile nationally and the 73rd percentile in New Jersey. While the national average for residential electricity stands at $0.13/kw, Englewood’s slightly higher cost makes switching to solar panels a financially sound decision. By transitioning to solar energy, residents can significantly reduce their electricity expenses and take advantage of the abundant sunshine in Englewood.
When could you expect to break even on a solar installation in Englewood New Jersey?
Considering the weather and electricity costs in Englewood, New Jersey, 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:
- Englewood gets more rain than the national average, but it still has enough sunlight for solar panels to be effective.
- The UV ratings in Englewood are slightly lower than the national average, but they are still good for generating solar power.
- Cloud cover in Englewood is around the national average, but it varies throughout the year.
Now, let’s consider the electricity costs:
- Residents in Englewood pay 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 amount needed from the grid.
- Given Englewood’s higher electricity rates, the savings are even more significant.
After analyzing the numbers, it seems that it would take approximately 6 years to cover the initial cost of the solar panels. This means that after 6 years, the money saved on electricity bills will begin to accumulate and pay off the investment. Additionally, since solar panels have a long lifespan, you will continue to enjoy these savings for many years to come. It’s a wise decision both financially and environmentally!
Investing in solar power in Englewood New Jersey
After careful analysis of Englewood, New Jersey’s weather trends and electricity costs, it is evident that investing in solar panels for your home is a smart financial decision. With an abundance of rainfall, favorable UV ratings, and decent cloud cover, Englewood provides an ideal environment for harnessing solar energy. Additionally, the higher electricity costs in the area make transitioning to solar power a financially sound choice, with an estimated break-even period of around 6 years. By going solar, residents can not only save money on their electricity bills but also contribute to a more sustainable and environmentally friendly future. Considering all these factors, investing in solar panels in Englewood, New Jersey, is a beneficial and wise investment for the long term.