Overview
Living in Fairbanks Alaska, you may be familiar with the high cost of electricity to power your home throughout the long, dark winters. However, with the abundance of sunlight during the summer months, installing solar panels can significantly reduce your reliance on traditional energy sources and save you money in the long run. By analyzing weather data and electricity costs specific to Fairbanks, we can show you how investing in a solar system can lead to substantial financial benefits over time.
Fairbanks Alaska Weather Trends
Fairbanks Precipitation
With only 16.2 inches of precipitation in the last year, Fairbanks Alaska is in the 4th percentile in the nation and the 5th percentile in Alaska. Compared to the national average of 50.61 inches and Alaska’s average of 57.06 inches, Fairbanks receives significantly less rainfall, making it an ideal location for solar panel installation. Additionally, the lower precipitation levels mean less maintenance and cleaning for your solar panels, saving you time and money in the long run.
Fairbanks’s UV Rating
Fairbanks’s average UV rating of 1.77 in the last year positions it in the 0th percentile in the nation and the 44th percentile in Alaska. Although Fairbanks receives less sun exposure compared to the national average of 4.29, the abundance of sunlight during the summer months can still generate significant energy through solar panels. With an average max UV rating of 2.35, Fairbanks residents can harness this natural resource to power their homes efficiently.
Fairbanks’s Cloud Cover
Despite an average of 63% cloud cover in the last year, Fairbanks Alaska still offers plenty of sunshine for solar energy production. While this places Fairbanks in the 98th percentile in the nation for cloud cover, the city is in the 8th percentile in Alaska, indicating relatively clear skies compared to other parts of the state. With 43 days of minimal cloud cover and 144 days of higher cloud cover, residents have ample opportunity to generate clean electricity from the sun.
Fairbanks Alaska Electricity Costs
At $0.25/kw, Fairbanks Alaska residents pay more for electricity compared to the national average of $0.13/kw. However, when considering Alaska’s average of $0.34/kw, Fairbanks is actually in a better position. By installing solar panels, residents can significantly reduce their reliance on expensive traditional energy sources, leading to long-term savings and a sustainable energy solution for their homes.
When could you expect to break even on a solar installation in Fairbanks Alaska?
Considering the weather and electricity costs in Fairbanks Alaska, 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:
- Fairbanks Alaska receives less total precipitation compared to the national average, making it a suitable location for solar panels.
- The UV ratings in Fairbanks Alaska are lower than the national average, but still adequate for generating solar power.
- Cloud cover in Fairbanks Alaska is more than the national average, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Fairbanks Alaska 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 purchased from the grid.
- Given Fairbanks Alaska’s higher electricity rates, the savings from solar power are significant.
After analyzing the data, it appears that it would take approximately 8 years to cover the initial cost of the solar panels. This means that after 8 years, the money saved on electricity bills will start to accumulate and offset the investment. Keep in mind, solar panels have a long lifespan, so beyond that initial period, you’ll enjoy those savings for many more years. It’s a wise choice for saving money while contributing to a greener environment!
Investing in solar power in Fairbanks Alaska
Living in Fairbanks Alaska, investing in solar panels can lead to substantial financial benefits over time by reducing reliance on expensive traditional energy sources. With lower precipitation levels, abundant sunlight during the summer months, and relatively clear skies for solar energy production, Fairbanks residents have an ideal environment to harness solar power. Despite higher electricity costs in Fairbanks, a standard solar system could break even within approximately 8 years, providing long-term savings and a sustainable energy solution for homes. By analyzing the weather data and electricity costs specific to Fairbanks, it’s clear that solar panel installation is a wise choice for saving money while contributing to a greener environment.