Overview
In Franklin Lakes, New Jersey, installing solar panels on your home can provide significant financial benefits in the long run. By analyzing 365 days of weather data and basic electricity costs, we can show you how much you can save on your energy bills each month. With a breakdown of the cost of a solar system and an estimate of how long it will take to break even, it’s clear that going solar is a smart investment for Franklin Lakes residents.
Franklin Lakes New Jersey Weather Trends
Franklin Lakes Precipitation
With Franklin Lakes receiving 74.75 inches of precipitation in the last year, it is clear that the area experiences ample rainfall. Compared to the rest of the country, Franklin Lakes is in the 94th percentile, showcasing its high level of precipitation. In comparison, the national average is 50.61 inches. While Franklin Lakes surpasses New Jersey’s average of 65.31 inches, the excess rain can be beneficial for solar panel efficiency.
Franklin Lakes’s UV Rating
Franklin Lakes had an average UV rating of 3.76, positioning it in the 34th percentile nationally and the 12th percentile within New Jersey. Although this is lower than the national average of 4.29 and New Jersey’s average of 4.04, the area still receives significant sunlight. With an average max UV rating of 4.06, Franklin Lakes is above the national average of 4.61, highlighting the potential for solar energy generation.
Franklin Lakes’s Cloud Cover
Recording an average of 47% cloud cover in the last year, Franklin Lakes experiences moderate cloudiness, with the area falling in the 64th percentile nationally and the 80th percentile in New Jersey. This level of cloud cover is similar to the national average of 44.46% and slightly higher than New Jersey’s average of 45.99%. The distribution of cloud cover throughout the year provides a balance for solar panel production.
Franklin Lakes New Jersey Electricity Costs
Residents of Franklin Lakes pay around $0.17/kw for electricity, placing the area in the 95th percentile nationally and the 64th percentile within New Jersey. While Franklin Lakes exceeds the national average of $0.13/kw, it is slightly higher than New Jersey’s average of $0.16/kw. By harnessing solar energy and reducing dependence on traditional electricity sources, residents can lower their monthly utility costs and contribute to a more sustainable environment.
When could you expect to break even on a solar installation in Franklin Lakes New Jersey?
Considering the weather and electricity costs in Franklin Lakes, 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:
- Franklin Lakes gets more precipitation than the national average, but it’s still sunny enough for solar panels to work effectively.
- The UV ratings are slightly lower than the national average, but they’re still good for generating solar power.
- Cloud cover is slightly higher than the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Franklin Lakes 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, which means we don’t need to buy as much from the grid.
- With Franklin Lakes’ higher electricity rates, the savings are even greater.
After crunching the numbers, it looks like it would take around 7 years to cover the initial cost of the solar panels. That means, after 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 Franklin Lakes New Jersey
Installing solar panels in Franklin Lakes, New Jersey can lead to significant financial benefits in the long term. With abundant rainfall, sufficient sunlight, and moderate cloud cover, the area is suitable for solar energy generation. Additionally, residents pay higher electricity costs than the national average, making solar power a cost-effective alternative. By investing in a solar system, homeowners can expect to break even in approximately 7 years, after which they will start saving money on their energy bills. Going solar is not only a smart financial move but also a way to contribute to a more sustainable environment for the future.