Overview
In Homewood, Illinois, installing solar panels on your home can save you money on your electricity bills while also helping the environment. By analyzing weather data and electricity costs over the course of a year, we can estimate how long it will take for a solar system to pay for itself through savings. With the amount of sunlight the area receives and the potential savings on electricity bills, investing in solar panels can be a smart financial decision for Homewood residents.
Homewood Illinois Weather Trends
Homewood Precipitation
With an average of 44.4 inches of precipitation in the last year, Homewood Illinois falls in the 37th percentile in the nation and the 56th percentile in Illinois. While Homewood receives slightly less precipitation compared to the national average of 50.61 inches, it is still higher than the Illinois average of 45.69 inches. Despite this, installing solar panels can still be a great investment for Homewood residents.
Homewood’s UV Rating
Homewood Illinois had an average UV rating of 3.88 in the last year, placing it in the 40th percentile in the nation and the 21st percentile in Illinois. While Homewood’s UV rating is slightly lower than the national average of 4.29, it is higher than the Illinois average of 4.21. With an average max UV rating of 4.16, Homewood falls in the 36th percentile in the nation and the 26th percentile in Illinois. Despite the slightly lower UV ratings, solar panels can still generate significant savings for Homewood residents.
Homewood’s Cloud Cover
Homewood Illinois had an average of 46% cloud cover in the last year, placing it in the 60th percentile in the nation and the 75th percentile in Illinois. While Homewood experiences more cloud cover compared to the national average of 44.46%, it is also higher than the Illinois average of 44.03%. Despite this, Homewood did have a significant number of days with clear skies, making it a feasible location for solar panel installation.
Homewood Illinois Electricity Costs
Homewood residents pay about $0.13/kw for electricity, ranking them in the 77th percentile in the nation and the 71st percentile in Illinois. While the cost is on par with the national average, it is slightly higher than the Illinois average of $0.12/kw. Despite this, investing in solar panels can help offset these electricity costs and provide long-term financial benefits for Homewood residents.
When could you expect to break even on a solar installation in Homewood Illinois?
Considering the weather and electricity costs in Homewood 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:
- Homewood Illinois gets slightly less rain compared to the national average, making it a good location for solar panels.
- The UV ratings in Homewood Illinois are slightly lower than the national average, but still suitable for generating solar power.
- Cloud cover in Homewood Illinois is around average for the country, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Homewood Illinois pay about the national average for electricity, which is $0.13/kw.
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.
- With Homewood Illinois’s electricity rates, the savings would be significant 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 money saved on electricity bills will begin to accumulate and pay off the investment. Additionally, since solar panels have a long lifespan, the savings will continue to grow for many years beyond the initial investment. Investing in solar panels is a wise way to save money and contribute to a greener environment for years to come.
Investing in solar power in Homewood Illinois
Installing solar panels in Homewood, Illinois is a smart financial decision that can lead to long-term savings on electricity bills. By analyzing weather data and electricity costs, we can estimate that it would take approximately 5 years to break even on the initial investment of a solar system. Despite the slightly lower UV ratings and higher cloud cover in the area, the potential savings make solar panel installation a feasible option for residents. Not only can it save money, but it also contributes to a greener environment for the future. This investment in solar energy can benefit both residents and the community for years to come.