Overview
Are you a Lincoln Illinois resident looking to save money on your electricity bills? Installing solar panels on your home could be the answer. By analyzing weather data and electricity costs specific to Lincoln Illinois, we can show you how a solar system could help you break even in a reasonable amount of time. In this article, we will break down the financial benefits of going solar in Lincoln Illinois, giving you the information you need to make an informed decision about investing in solar energy.
Lincoln Illinois Weather Trends
Lincoln Precipitation
With Lincoln Illinois receiving 45.24 inches of precipitation in the last year, it is below the national average of 50.61 inches. However, it is slightly above the Illinois average of 45.69 inches. This means that Lincoln residents can benefit from adequate rainfall to keep their solar panels clean and functioning efficiently.
Lincoln’s UV Rating
Lincoln Illinois had an average UV rating of 4.25 in the last year, which is on par with the national average of 4.29. While it falls slightly behind the Illinois average of 4.21, Lincoln’s average max UV rating of 4.6 is close to the national and state averages. This indicates that Lincoln residents can harness the sun’s energy effectively with solar panels.
Lincoln’s Cloud Cover
With an average of 42% cloud cover in the last year, Lincoln Illinois experiences fewer cloudy days compared to both the national and state averages. With 128 days of clear to slightly cloudy skies, Lincoln residents have ample sunlight to generate electricity through solar panels. This means a greater potential for savings on energy bills.
Lincoln Illinois Electricity Costs
Lincoln Illinois residents pay about $0.1/kw for electricity, which is lower than both the national average of $0.13/kw and the Illinois average of $0.12/kw. This means that by investing in solar panels, Lincoln residents can further reduce their electricity costs and potentially even earn money through net metering programs.
When could you expect to break even on a solar installation in Lincoln Illinois?
Considering the weather and electricity costs in Lincoln, 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:
- Lincoln gets slightly less rain than the national average, making it a good location for solar panels.
- The UV ratings in Lincoln are very close to the national average, indicating good conditions for generating solar power.
- Cloud cover in Lincoln is slightly lower than the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Lincoln pay less for electricity compared to the national average, which is beneficial for using solar power.
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 and saving money on electricity bills.
- With Lincoln’s lower electricity rates, the savings are still significant over time.
After analyzing the data, it appears that it would take approximately 6 years to cover the initial cost of the solar panels. This means that after 6 years, the savings on electricity bills will surpass the investment made in solar panels. Additionally, since solar panels have a lifespan of 25 to 30 years, the savings will continue for many years after the break-even point. Investing in solar panels not only saves money in the long run but also contributes to a cleaner environment. It’s a wise financial and eco-friendly choice for Lincoln residents.
Investing in solar power in Lincoln Illinois
Installing solar panels in Lincoln, Illinois can be a financially savvy decision for residents looking to save money on their electricity bills. With favorable weather conditions and lower-than-average electricity costs, investing in solar energy could lead to significant long-term savings. By analyzing the data, it is estimated that residents could break even on their initial investment in solar panels within approximately 6 years. Beyond that point, the savings on electricity bills will continue to accumulate, making solar panels a smart choice for both financial and environmental reasons. If you’re considering going solar in Lincoln, Illinois, the benefits are clear.