Overview
Are you looking to save money on your electricity bills in Lakewood, Washington? Installing solar panels on your home could be the perfect solution for you. In this article, we will break down the financial benefits of investing in a solar system, using weather data and electricity costs specific to the Lakewood area. By analyzing the amount of sunlight the area receives, the cost of electricity, and the cost of a solar system, we will estimate how long it will take for you to break even on your investment, ultimately saving you money in the long run.
Lakewood Washington Weather Trends
Lakewood Precipitation
With 48.84 inches of precipitation in the last year, Lakewood, Washington, falls slightly below the national average of 50.61 inches, but exceeds the state average of 45.64 inches. Despite this, solar panels can still be a valuable investment due to their ability to generate electricity even on cloudy days. By harnessing the power of the sun, you can reduce your reliance on traditional energy sources and lower your electricity bills over time.
Lakewood’s UV Rating
Lakewood’s average UV rating of 3.61 may not be the highest compared to the national average of 4.29, but it is still sufficient for solar panel effectiveness. With an average max UV rating of 4.03, your panels can still generate significant energy throughout the year. By capturing sunlight and converting it into electricity, you can take advantage of Lakewood’s UV ratings to save money on your energy bills and reduce your carbon footprint.
Lakewood’s Cloud Cover
While Lakewood may experience an average cloud cover of 53%, which is higher than both the national and state averages, there are still plenty of sunny days for solar panel production. With a considerable number of days having minimal cloud cover, you can capitalize on these opportunities to generate clean and renewable energy for your home. By installing solar panels, you can tap into Lakewood’s sunlight potential and enjoy the financial benefits of reduced electricity bills.
Lakewood Washington Electricity Costs
Residents in Lakewood pay about $0.1/kw for electricity, which is on par with the state average but lower than the national average. With affordable electricity rates and the potential to generate your own energy through solar panels, you can significantly decrease your reliance on the grid and save money in the long run. By investing in solar power, you can protect yourself from future utility rate hikes and enjoy the financial advantages of renewable energy.
When could you expect to break even on a solar installation in Lakewood Washington?
Considering the weather and electricity costs in Lakewood, Washington, 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, Washington, receives slightly less precipitation than the national average, making it suitable for solar panels to work effectively.
- The UV ratings in Lakewood, Washington, are lower than the national average, but still good for generating solar power.
- Cloud cover in Lakewood, Washington, is higher than the national average, with varying percentages throughout the year.
Now, let’s consider the electricity costs:
- Residents in Lakewood, Washington, pay a bit less 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 amount needed from the grid.
- With lower electricity rates in Lakewood, Washington, the savings are still significant.
After analyzing the data, it appears it would take approximately 6 years to cover the initial cost of the solar panels in Lakewood, Washington. This means, after 6 years, the money saved on electricity bills will start to accumulate, making the investment worthwhile. Furthermore, considering the long lifespan of solar panels, you will continue to benefit from these savings for many years. It’s a wise financial decision that also contributes to a cleaner environment!
Investing in solar power in Lakewood Washington
After examining the weather trends and electricity costs in Lakewood, Washington, it is clear that investing in solar panels can lead to significant long-term savings. With favorable conditions for solar panel effectiveness and affordable electricity rates, residents can expect to break even on their investment in approximately 6 years. This means that after that time, the money saved on electricity bills will start to add up, making solar panels a financially wise decision. Additionally, with the lifespan of solar panels, these savings will continue for many years, contributing to both financial stability and a cleaner environment. Consider installing solar panels on your home in Lakewood, Washington, to start saving on your electricity bills today!