Overview
In Holman, New Mexico, installing solar panels on your home can lead to significant financial benefits. By analyzing weather data and electricity costs over the course of a year, we can demonstrate how a solar system can help you save money in the long run. With a breakdown of costs and estimated time to break even, you can see how investing in solar energy is a smart decision for your wallet.
Holman New Mexico Weather Trends
Holman Precipitation
In the last year, Holman New Mexico received 18.49 inches of precipitation, ranking it in the 5th percentile in the nation and the 80th percentile in New Mexico. This lower-than-average precipitation means that residents can expect more sunny days throughout the year, perfect for harnessing solar energy. With the national average for total precipitation at 50.61 inches, Holman’s drier climate provides optimal conditions for solar panel efficiency compared to the rest of the country.
Holman’s UV Rating
With an average UV rating of 3.79 in the last year, Holman New Mexico falls in the 35th percentile in the nation and the 11th percentile in New Mexico. While these numbers may seem low, they actually indicate moderate to high levels of sun exposure, ideal for generating solar power. The national average UV rating is 4.29, and New Mexico’s average is 4.67, highlighting Holman’s suitability for solar panel installation in comparison to other regions.
Holman’s Cloud Cover
Over the last year, Holman New Mexico experienced an average of 25% cloud cover, placing it in the 4th percentile in the nation and the 82nd percentile in New Mexico. This lower cloud cover percentage signifies more clear skies, allowing for greater solar energy absorption. Comparatively, the national average for cloud cover is 44.46%, with New Mexico averaging at 22.75%, making Holman a prime location for solar panel utilization due to its minimal cloud interference.
Holman New Mexico Electricity Costs
Residents in Holman New Mexico pay about $0.16 per kilowatt-hour for electricity, positioning Holman in the 95th percentile in the nation and the 78th percentile in New Mexico. With the national average for residential electricity at $0.13 per kilowatt-hour and New Mexico’s average at $0.15, Holman’s electricity costs are relatively high. By transitioning to solar power, residents can significantly reduce monthly utility bills and save money in the long run.
When could you expect to break even on a solar installation in Holman New Mexico?
Considering the weather and electricity costs in Holman New Mexico, 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:
- Holman New Mexico receives less precipitation compared to the national average, making it a good location for solar panels.
- The UV ratings in Holman New Mexico are slightly lower than the national average, but still conducive for generating solar power.
- Cloud cover in Holman New Mexico is lower than the national average, with variations throughout the year.
Now, let’s consider the electricity costs:
- Residents in Holman New Mexico 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, reducing the need to purchase electricity from the grid.
- Due to higher electricity rates in Holman New Mexico, the savings from solar power are significant.
After analyzing the data, it appears that it would take around 4-6 years to cover the initial cost of the solar panels. This means that after this period, the savings on electricity bills will accumulate and pay off the investment. Additionally, considering the long lifespan of solar panels, these savings will continue for many years ahead. Investing in solar panels not only helps save money but also contributes to a greener environment. It’s a wise and sustainable choice for homeowners in Holman New Mexico.
Investing in solar power in Holman New Mexico
With the combination of favorable weather conditions and relatively high electricity costs in Holman, New Mexico, investing in solar panels can lead to significant long-term financial benefits. By analyzing the data, we can see that residents can expect to break even on their investment in solar energy within 4-6 years, with continued savings for decades to come. Not only does transitioning to solar power help save money on utility bills, but it also contributes to a more sustainable and environmentally friendly lifestyle. Choosing solar energy is a smart and eco-conscious decision for homeowners in Holman, New Mexico.