Overview
Are you a Malta Illinois resident looking to save money on your electricity bills? Installing solar panels on your home could be a smart financial move for you. By analyzing data on weather patterns and electricity costs in Malta, we will show you the potential financial benefits of solar energy. With information on average annual precipitation, UV ratings, percentage cloud cover, and basic electricity rates, we will break down the cost of a solar system and estimate how long it would take for you to break even on your investment. Stay tuned to learn how solar panels can help you save money in the long run.
Malta Illinois Weather Trends
Malta Precipitation
With only 15 inches of precipitation in the last year, Malta Illinois is drier than most of the country, ranking in the 3rd percentile. Compared to the rest of Illinois, Malta is even drier, falling in the 1st percentile. This lower level of precipitation means you can rely more on solar energy to power your home, saving you money in the long run.
Malta’s UV Rating
Malta Illinois enjoys a high average UV rating of 5.48, ranking in the 88th percentile nationally and the 97th percentile within Illinois. This means that your solar panels will be consistently exposed to strong sunlight, maximizing their energy production potential. With more sunlight available compared to other parts of the country and state, you can expect greater energy savings.
Malta’s Cloud Cover
At an average of 26% cloud cover, Malta Illinois experiences relatively clear skies more often than not, ranking in the 5th percentile nationally and the 1st percentile in Illinois. With a majority of days having minimal cloud cover, your solar panels will have optimal conditions for generating electricity. This consistent sunlight exposure will help you save on your electricity bills year-round.
Malta Illinois Electricity Costs
Residents of Malta Illinois pay about $0.13/kw for electricity, which is slightly higher than the national average but still competitive. Ranking in the 77th percentile nationwide and the 71st percentile within Illinois, your electricity costs are relatively moderate. By investing in solar panels, you can offset these costs and potentially even eliminate your electricity bill altogether, saving you money in the long term.
When could you expect to break even on a solar installation in Malta Illinois?
Considering the weather and electricity costs in Malta, 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:
- Malta receives less precipitation than the national average, which is good for solar panel efficiency.
- The UV ratings in Malta are higher than the national average, making it a great location for generating solar power.
- Cloud cover in Malta is lower than the national average, providing more sunlight for solar panels to work effectively.
Now, let’s consider the electricity costs:
- Residents in Malta 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.
- Since electricity costs are at the national average in Malta, the savings will be moderate.
After crunching the numbers, it looks like it would take around 10-12 years to cover the initial cost of the solar panels. This means that after this period, the money saved on electricity bills will start to accumulate and make the investment worthwhile. With solar panels lasting for 25-30 years, continuing to save on electricity costs is a great benefit in the long run. Investing in solar energy is not only cost-effective but also environmentally friendly.
Investing in solar power in Malta Illinois
By analyzing weather trends and electricity costs in Malta, Illinois, we have seen the potential financial benefits of installing solar panels. With lower precipitation levels, high UV ratings, and minimal cloud cover, solar panels in Malta can efficiently generate electricity and save you money in the long term. Considering the average electricity costs in Malta, investing in solar energy could allow you to break even on your investment within 10-12 years and continue to save for the lifespan of the solar system. Therefore, installing solar panels is a smart financial move for Malta residents looking to reduce their electricity bills and make a long-term investment.