Overview
Are you a Great Lakes Illinois resident looking to save money on your electricity bills? Installing solar panels on your home could be the answer you’ve been searching for. In this article, we will break down the financial benefits of investing in a solar system based on weather data and electricity costs specific to Great Lakes Illinois. By analyzing factors such as average precipitation, UV ratings, cloud cover, and basic electricity cost, we will demonstrate how solar panels can help you save money in the long run. Stay tuned to learn more about the cost of a solar system and how long it will take to break even with your investment.
Great Lakes Illinois Weather Trends
Great Lakes Precipitation
With Great Lakes Illinois receiving 44.62 inches of precipitation last year, it is evident that the region experiences a moderate amount of rainfall. While this puts Great Lakes in the 37th percentile in the nation, it is higher than the state average of 45.69 inches. By harnessing the power of solar panels, residents can take advantage of this natural resource to generate electricity and reduce their reliance on traditional grid power sources.
Great Lakes’s UV Rating
Great Lakes Illinois had an average UV rating of 3.65 in the last year, highlighting the region’s sunlight intensity. Although this places Great Lakes in the 26th percentile in the nation, it is lower than the average UV ratings for both Illinois and the rest of the country. By investing in solar panels, residents can capture this abundant sunlight to generate clean energy and lower their electricity bills over time.
Great Lakes’s Cloud Cover
With an average of 48% cloud cover in the last year, Great Lakes Illinois experiences varying degrees of cloudiness throughout the year. While this puts Great Lakes in the 66th percentile in the nation, the region has higher cloud cover than the state average of 44.03%. Despite this, solar panels can still be a viable option for residents to generate electricity, especially on days with less cloud cover to maximize energy production.
Great Lakes Illinois Electricity Costs
Great Lakes Illinois residents pay about $0.13/kw for electricity, which is in line with the national average. However, compared to the state average of $0.12/kw, Great Lakes residents have slightly higher electricity costs. By installing solar panels, residents can offset these expenses by generating their own electricity and reducing their reliance on the grid, ultimately saving money in the long run.
When could you expect to break even on a solar installation in Great Lakes Illinois?
Considering the weather and electricity costs in Great Lakes 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:
- Great Lakes Illinois receives slightly less precipitation compared to the national average, making it a suitable location for solar panels.
- The UV ratings in Great Lakes Illinois are slightly lower than the national average, but still conducive to generating solar power effectively.
- Cloud cover in Great Lakes Illinois is slightly higher than the national average, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Great Lakes Illinois pay the national average price 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 and resulting in savings on electricity bills.
- With electricity costs at the national average, the savings are steady over time.
After analyzing the data, it appears that it would take approximately 5 years to cover the initial cost of the solar panels. This means that after 5 years, the savings accrued from reduced electricity bills will start to compensate for the initial investment. Remember, solar panels have a long lifespan, so beyond this period, you will continue to benefit from these savings for many more years. Not only is investing in solar panels a wise financial choice, but it also contributes to environmental sustainability. It’s a win-win situation!
Investing in solar power in Great Lakes Illinois
Investing in solar panels in Great Lakes Illinois can be a smart financial decision. By taking advantage of the region’s moderate precipitation, abundant sunlight, and slightly higher electricity costs, residents can save money in the long run. Analyzing the data shows that it would take approximately 5 years to break even on the initial investment, after which the savings from reduced electricity bills will continue for many more years. Not only does this make financial sense, but it also contributes to environmental sustainability. So, why wait? Consider installing solar panels on your home today!