Overview
Living in Matthews Indiana, you may be wondering if installing solar panels on your home is a smart financial decision. By analyzing weather data specific to our area, along with basic electricity costs, we can show you the potential savings of switching to solar energy. With information on precipitation, UV ratings, and cloud cover, we can estimate how long it will take for you to break even on the cost of a solar system. Let’s explore the financial benefits of making the switch to solar power in Matthews Indiana.
Matthews Indiana Weather Trends
Matthews Precipitation
Living in Matthews Indiana, you may have noticed that our area receives an average of 46.29 inches of precipitation each year. Comparing this to the national average of 50.61 inches and Indiana’s average of 50.24 inches, Matthews falls slightly below average. By harnessing solar energy, you can take advantage of our moderate rainfall to power your home sustainably.
Matthews’s UV Rating
With an average UV rating of 3.89, Matthews Indiana enjoys a fair amount of sunlight throughout the year. This puts us in the 40th percentile in the nation and the 29th percentile in Indiana. By installing solar panels, you can make the most of our sunny days and decrease your reliance on traditional electricity sources, saving money in the long run while reducing your environmental impact.
Matthews’s Cloud Cover
On average, Matthews Indiana experiences 48% cloud cover, providing opportunities for ample sunlight to reach your solar panels. Comparing this to the national average of 44.46% and Indiana’s average of 47.27%, it is evident that our area offers favorable conditions for solar energy production. By utilizing this natural resource, you can significantly reduce your electricity bills while contributing to a cleaner environment.
Matthews Indiana Electricity Costs
Residents in Matthews Indiana currently pay about $0.14/kw for electricity, which is slightly higher than the national average of $0.13/kw and on par with Indiana’s average. By switching to solar power, you can protect yourself from future electricity rate increases and potentially lock in lower energy costs for years to come. Investing in solar panels can lead to significant savings over time, making it a smart financial decision for Matthews residents.
When could you expect to break even on a solar installation in Matthews Indiana?
Considering the weather and electricity costs in Matthews, Indiana, 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:
- Matthews receives slightly less rain than the national average, making it a good location for solar panels.
- The UV ratings in Matthews are close to the national average, indicating good conditions for generating solar power.
- Cloud cover in Matthews is slightly higher than the national average, with variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Matthews pay slightly more 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 purchased from the grid.
- With Matthews’ higher electricity rates, the savings are significant.
After analyzing the numbers, it appears that it would take approximately 7 years to cover the initial cost of the solar panels. This means that after 7 years, the money saved on electricity bills will begin to accumulate and pay off the investment. Plus, considering that solar panels last for many years, you will continue to benefit from those savings for a long time. It’s a wise decision to save money and contribute to environmental sustainability simultaneously!
Investing in solar power in Matthews Indiana
After analyzing the weather data specific to Matthews, Indiana, and considering the current electricity costs, it is clear that switching to solar power can offer significant financial benefits for residents. With moderate precipitation, fair UV ratings, and favorable cloud cover, Matthews provides an ideal environment for solar energy production. Additionally, the slightly higher electricity costs in the area make investing in solar panels a smart long-term decision. Based on our calculations, residents can expect to break even on the cost of a solar system in approximately 7 years, resulting in substantial savings on electricity bills for years to come. Making the switch to solar power in Matthews Indiana is not only a wise financial choice but also a step towards a more sustainable and environmentally friendly future.