Overview
Have you ever thought about how much money you spend on electricity each month? In Lamar, Colorado, residents experience sunny days for the majority of the year, making it the perfect place to harness the power of solar energy. By installing solar panels on your home, you can take advantage of the abundant sunshine to generate your own electricity, reducing your monthly utility bills significantly. In this article, we will break down the costs associated with installing a solar system in Lamar and estimate how long it will take for you to break even on your investment.
Lamar Colorado Weather Trends
Lamar Colorado Electricity Costs
When it comes to electricity costs, Lamar Colorado residents are paying about $0.17/kw, putting them in the 95th percentile in the nation and the 97th percentile in Colorado. In comparison, the national average for residential electricity is $0.13/kw, and Colorado’s average is $0.14/kw. By installing solar panels on your home, you can generate your own electricity and significantly reduce your monthly utility bills, especially in Lamar where the cost of electricity is higher than the national and state averages.
Lamar Precipitation
Living in Lamar Colorado means experiencing an average of 22.6 inches of precipitation per year. This puts Lamar in the 7th percentile in the nation and the 21st percentile in Colorado. In comparison, the national average for total precipitation is 50.61 inches, while Colorado’s average is 35.53 inches. With the majority of sunny days in Lamar, harnessing the power of solar energy can be extremely beneficial, considering the lower-than-average precipitation levels in the area.
Lamar’s UV Rating
With an average UV rating of 4.72, Lamar Colorado is in the 71st percentile in the nation and the 90th percentile in Colorado. In comparison, the national average for average UV rating is 4.29, while Colorado’s average is 4.02. Additionally, Lamar has an average max UV rating of 5.21, putting it in the 61st percentile in the nation and the 89th percentile in Colorado. The high UV ratings in Lamar make it an ideal location for installing solar panels to generate clean and efficient energy.
Lamar’s Cloud Cover
On average, Lamar Colorado experiences 27% cloud cover, placing it in the 5th percentile in the nation and the 16th percentile in Colorado. In comparison, the national average for average cloud cover is 44.46%, while Colorado’s average is 33.65%. With 209 days having between 0% and 25% cloud cover, 93 days between 25% and 50% cloud cover, 45 days between 50% and 75% cloud cover, and 17 days between 75% and 100% cloud cover, Lamar provides plenty of sunshine for solar panels to efficiently capture solar energy throughout the year.
When could you expect to break even on a solar installation in Lamar Colorado?
Considering the weather and electricity costs in Lamar, Colorado, 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:
- Lamar receives less precipitation compared to the national average, making it a good location for solar panel installation.
- The UV ratings in Lamar are higher than the national average, indicating good conditions for generating solar power.
- The cloud cover in Lamar is lower than the national average, with a significant number of days having clear skies, ideal for solar energy production.
Now, let’s consider the electricity costs:
- Residents in Lamar pay more for electricity compared to the national average, which makes solar energy even more cost-effective in the long run.
With this information, let’s break down the costs:
- A standard solar system of 10kW costs $20,000, and it 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:
- The system generates electricity, reducing the amount needed from the grid, especially beneficial with Lamar’s higher electricity rates.
After analyzing the data, it appears that it would take approximately 8 years to cover the initial cost of the solar panels. This means that after 8 years, the money saved on electricity bills will start to exceed the initial investment. Also, considering the longevity of solar panels, you can enjoy these savings for many more years. It’s both a financially prudent and environmentally friendly decision!
Investing in solar power in Lamar Colorado
Installing solar panels in Lamar, Colorado can be a game-changer when it comes to reducing monthly electricity bills. With above-average electricity costs and abundant sunshine, the investment in solar energy is well worth it. By harnessing solar power, residents can break even on their initial investment in as little as 8 years, leading to long-term savings and a more environmentally friendly home. Making the switch to solar energy in Lamar is a smart decision that not only benefits your wallet but also the planet.