Overview
Discover the financial benefits of installing solar panels on your home in Franklin, Indiana. By analyzing weather data and electricity costs specific to the area, we will show you how a solar system can help you save money in the long run. Learn how much you can save on your electricity bill and estimate how quickly you can break even on your investment.
Franklin Indiana Weather Trends
Franklin Precipitation
With Franklin Indiana receiving 47.73 inches of precipitation in the last year, it is evident that the area sees a moderate amount of rainfall. Compared to the national average of 50.61 inches, Franklin falls slightly below, but still remains in the 43rd percentile nationwide. In Indiana, Franklin is in the 58th percentile, showcasing the region’s consistent rainfall levels. These precipitation rates make Franklin an ideal location for harnessing solar energy, as the moisture can help keep the solar panels clean and efficient.
Franklin’s UV Rating
Boasting an average UV rating of 4.07, Franklin Indiana residents can enjoy a decent amount of sunlight throughout the year. With a ranking in the 49th percentile nationwide, Franklin’s solar potential is promising. Even though it falls slightly below the national average of 4.29, the area’s UV rating of 4.07 is still favorable for solar panel efficiency. Taking advantage of this abundant sunlight can significantly reduce energy bills and help the environment at the same time.
Franklin’s Cloud Cover
Despite having an average cloud cover of 47% in the last year, Franklin Indiana remains in a prime position for solar panel installation. With a ranking in the 62nd percentile nationwide, the area experiences a good balance of sunlight and cloud cover. Residents benefit from 100 days with clear skies and 97 days with some cloud cover, providing ample opportunities for solar panels to generate electricity efficiently. The occasional cloud cover can actually help regulate temperatures and prevent overheating of the panels.
Franklin Indiana Electricity Costs
At $0.13/kw, Franklin Indiana residents pay the same as the national average for residential electricity. Ranked in the 77th percentile nationwide, Franklin’s electricity costs are competitive and reasonable. Compared to Indiana’s average of $0.13/kw, Franklin is right on par with the state average. By investing in solar panels, residents can lock in their electricity costs and reduce their dependency on the grid, ultimately saving money in the long run while also contributing to a greener environment.
When could you expect to break even on a solar installation in Franklin Indiana?
Considering the weather and electricity costs in Franklin Indiana, 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:
- Franklin Indiana gets slightly less rain than the national average, and it receives a good amount of sunlight for solar panels to be effective.
- The UV ratings in Franklin Indiana are slightly lower than the national average, but still suitable for generating solar power.
- Cloud cover in Franklin Indiana is slightly higher than the national average, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Franklin Indiana pay the same amount 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.
- Considering the average electricity cost in Franklin Indiana, the savings are moderate.
After calculating the numbers, it appears that it would take around 11-13 years to cover the initial cost of the solar panels. This means that after 11-13 years, the money saved on electricity bills would begin accumulating and eventually pay off the investment. Remember, solar panels have a long lifespan, so beyond that initial period, you will continue to benefit from those savings for many years. Investing in solar energy not only saves money but also contributes to a healthier environment. It’s a smart decision with long-term benefits!
Investing in solar power in Franklin Indiana
By analyzing the weather trends in Franklin, Indiana and the electricity costs, it is clear that investing in solar panels can lead to significant long-term financial benefits. With moderate rainfall, favorable UV ratings, and a good balance of sunlight and cloud cover, Franklin is an ideal location for solar energy. Additionally, with electricity costs in line with the national average, residents can expect to break even on their solar panel investment within 11-13 years. Beyond that, the savings on electricity bills will continue to accumulate, making solar energy a smart and environmentally friendly choice for residents of Franklin, Indiana.