Overview
Are you a Georgetown, Maryland resident looking to save money on your electricity bills? Installing solar panels on your home could be the solution you’ve been looking for. We have analyzed weather data specific to your area, along with average electricity costs, to show you how much you could save by going solar. In this article, we break down the cost of a solar system for your home, estimate how long it will take to break even, and highlight the financial benefits of making the switch to solar power.
Georgetown Maryland Weather Trends
Georgetown Precipitation
In the last year, Georgetown, Maryland received 50.97 inches of precipitation, putting it in the 50th percentile in the nation and the 16th percentile in Maryland. Compared to the national average of 50.61 inches and Maryland’s average of 56.5 inches, Georgetown’s precipitation levels are consistent. With moderate rainfall throughout the year, installing solar panels can be a reliable source of energy production.
Georgetown’s UV Rating
Georgetown, Maryland had an average UV rating of 4.79 in the last year, placing it in the 73rd percentile in the nation and the 97th percentile in Maryland. Compared to the national average of 4.29 and Maryland’s average of 4.26, Georgetown experiences higher UV exposure. This means solar panels can generate more energy efficiently, maximizing cost savings for residents.
Georgetown’s Cloud Cover
In the last year, Georgetown, Maryland had an average of 46% cloud cover, ranking it in the 60th percentile in the nation and the 93rd percentile in Maryland. With more sunny days than the national average of 44.46% and Maryland’s average of 43.89%, Georgetown has ideal conditions for solar energy production. The consistent sunlight allows solar panels to generate electricity consistently, reducing reliance on traditional power sources.
Georgetown Maryland Electricity Costs
Georgetown residents pay about $0.15/kw for electricity, placing them in the 91st percentile in the nation and the 100th percentile in Maryland. While the national average for residential electricity is $0.13/kw and Maryland’s average is $0.13/kw, Georgetown’s higher costs make switching to solar an attractive option for long-term savings. By investing in solar panels, residents can reduce their electricity bills significantly over time.
When could you expect to break even on a solar installation in Georgetown Maryland?
Considering the weather and electricity costs in Georgetown Maryland, 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:
- Georgetown Maryland receives slightly more precipitation than the national average, but it still has enough sunshine for solar panels to be effective.
- The UV ratings in Georgetown Maryland are higher than the national average, making it a good location for generating solar power.
- Cloud cover in Georgetown Maryland is slightly higher than the national average, with varying amounts throughout the year.
Now, let’s consider the electricity costs:
- Residents in Georgetown Maryland pay about $0.15/kw for electricity, which is higher than the national average.
With this information, let’s break down the costs:
- A standard solar system of 10kW costs $20,000 to install.
- 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:
- By generating electricity from the sun, you will reduce the amount of electricity you need to buy from the grid.
- With Georgetown Maryland’s higher electricity rates, the savings from using solar power will be significant.
After running the numbers, it looks like it would take around 6-7 years to cover the initial cost of the solar panels. This means that after this period, the money you save on electricity bills will start to accumulate and pay off the investment. Since solar panels last for 25-30 years, you’ll enjoy these savings for many years after breaking even. Investing in solar panels isn’t just a smart financial decision, it’s also a step towards a greener and more sustainable future.
Investing in solar power in Georgetown Maryland
Switching to solar power in Georgetown, Maryland can result in significant long-term savings on your electricity bills. By analyzing the weather trends specific to the area, along with the higher-than-average electricity costs, we have determined that investing in solar panels can lead to breaking even on the initial cost in approximately 6-7 years. With solar systems lasting between 25-30 years, residents can enjoy considerable savings and contribute to a greener future by making the switch to solar energy.