Overview
In Lakewood, New York, installing solar panels on your home can save you money in the long run. By analyzing weather data and basic electricity costs, we can demonstrate the financial benefits of switching to solar power. With information on precipitation levels, UV ratings, cloud cover, and the cost of a solar system, we estimate how quickly you can recoup your investment. This article will show you how going solar can be a smart financial choice for Lakewood residents.
Lakewood New York Weather Trends
Lakewood Precipitation
With Lakewood, New York receiving 63.86 inches of precipitation in the last year, it’s clear that the area sees more rainfall compared to the national average of 50.61 inches. While the state average is slightly higher at 63.5 inches, investing in solar panels can help offset electricity costs by harnessing the power of the sun, even on rainy days.
Lakewood’s UV Rating
Having an average UV rating of 3.21 in the last year, Lakewood falls below both the national average of 4.29 and the state average of 3.57. Despite this, solar panels can still be a valuable investment as they are designed to capture sunlight and convert it into energy, making it a sustainable choice for homeowners in Lakewood.
Lakewood’s Cloud Cover
With an average of 59% cloud cover, Lakewood experiences more cloudy days compared to the national average of 44.46%. However, with varying levels of cloud cover throughout the year, there are still plenty of opportunities to generate solar power and reduce dependency on traditional electricity sources, ultimately saving money in the long run.
Lakewood New York Electricity Costs
Lakewood residents pay about $0.13/kw for electricity, which is in line with the national average. While New York’s average for residential electricity is slightly higher at $0.15/kw, transitioning to solar panels can provide significant savings over time, especially considering the abundant sunshine the state receives even with varying weather conditions.
When could you expect to break even on a solar installation in Lakewood New York?
Considering the weather and electricity costs in Lakewood, New York, 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:
- Lakewood gets more precipitation than the national average, but it’s still a sunny area for solar panel efficiency.
- The UV ratings in Lakewood are slightly lower than the national average, but still suitable for generating solar power.
- Cloud cover in Lakewood is higher than the national average, with a significant number of days having over 75% cloud cover.
Now, let’s consider the electricity costs:
- Residents in Lakewood 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.
- With the average electricity costs, the savings may take a bit longer to cover the initial cost.
After analyzing the data, it seems that it would take around 7-8 years to cover the initial cost of the solar panels in Lakewood, New York. This means that after this period, the money saved on electricity bills will start to offset the investment. Since solar panels last for a long time, you’ll continue to enjoy these savings for many years to come. It’s a wise financial decision that also contributes to a cleaner environment.
Investing in solar power in Lakewood New York
Switching to solar power in Lakewood, New York can be a financially savvy choice for residents. By taking into account weather trends, electricity costs, and the initial investment in solar panels, it is estimated that homeowners could break even on their investment in around 7-8 years. This means that after this period, the cost savings on electricity bills will start to outweigh the initial cost. Not only does going solar help save money in the long run, but it also contributes to a cleaner, more sustainable environment for future generations to enjoy.