Overview
If you live in Franklin Park Illinois, installing solar panels on your home can lead to significant financial savings. By analyzing weather data and electricity costs specific to the area, we can estimate the cost of a solar system and calculate how long it will take for you to break even on your investment. With the right information and calculations, going solar in Franklin Park can be a smart financial decision that benefits both your wallet and the environment.
Franklin Park Illinois Weather Trends
Franklin Park Precipitation
With Franklin Park receiving 43.24 inches of precipitation in the last year, it falls below the national and state averages. This means that solar panels in Franklin Park can be more efficient due to less frequent weather disruptions compared to other parts of the country and Illinois. By harnessing the power of the sun, you can generate cleaner energy and potentially save more money in the long run.
Franklin Park’s UV Rating
Franklin Park’s average UV rating of 3.81 in the last year is slightly lower than the national and state averages. While this may mean slightly less sunlight, it is still sufficient for solar panels to produce energy efficiently. With the right system in place, you can take advantage of the available sunlight to reduce your electricity bills and decrease your carbon footprint.
Franklin Park’s Cloud Cover
Despite having an average cloud cover of 47% in the last year, Franklin Park is above the national and state averages. Even with some cloud cover, solar panels in Franklin Park can still generate significant amounts of energy. By utilizing solar power, you can decrease your reliance on the grid and contribute to a more sustainable environment for future generations.
Franklin Park Illinois Electricity Costs
At $0.13/kw, Franklin Park residents pay slightly above the national average for electricity. However, compared to Illinois, Franklin Park’s electricity costs are in line with the state average. By installing solar panels, you can offset these costs and potentially even earn credits by selling excess energy back to the grid. This not only saves you money in the long term but also helps reduce your dependence on traditional energy sources.
When could you expect to break even on a solar installation in Franklin Park Illinois?
Considering the weather and electricity costs in Franklin Park, Illinois, 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 Park gets slightly less rain than the national average, which is good for solar panels.
- The UV ratings are also a bit lower than the national average but still effective for generating solar power.
- Cloud cover is around average for the country, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Franklin Park pay the national average for electricity.
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.
- With average electricity rates, the savings accumulate over time.
After running the numbers, it seems like it would take approximately 9 years to cover the initial cost of the solar panels. This means that after 9 years, the money saved on electricity bills will exceed the investment. Also, considering that solar panels last for 25 to 30 years, you will continue to benefit from those savings for many years. Investing in solar panels not only saves money but also helps the environment. It’s a wise choice for long-term savings and sustainability!
Investing in solar power in Franklin Park Illinois
Considering the weather trends and electricity costs in Franklin Park, Illinois, it is evident that investing in solar panels can lead to significant financial savings over time. With below-average precipitation, sufficient UV ratings, and solar-friendly cloud cover, solar panels can efficiently generate energy in Franklin Park. Additionally, with electricity costs in line with the state average, installing solar panels can help offset these costs and potentially even earn you credits. Based on the calculations, it would take approximately 9 years to break even on the initial cost of a solar system, after which you can enjoy long-term savings and contribute to a more sustainable environment. Investing in solar panels in Franklin Park is not only a smart financial decision but also a step towards a greener future.