Overview
If you’re a Memphis Missouri resident looking to save money on your electricity bills, installing solar panels on your home could be a smart financial move. With abundant sunshine throughout the year and favorable weather conditions, solar panels can help you harness the power of the sun to generate your own electricity. By analyzing weather data and electricity costs specific to Memphis Missouri, we can show you how much you could save by making the switch to solar. Let’s break down the cost of a solar system, estimate how long it will take to break even, and explore the financial benefits of going solar in Memphis Missouri.
Memphis Missouri Weather Trends
Memphis Precipitation
While Memphis Missouri might not receive as much precipitation as other parts of the country, it still gets a fair amount of rain throughout the year. With 38.04 inches of precipitation annually, Memphis falls below the national average of 50.61 inches. However, compared to the rest of Missouri, Memphis ranks even lower in terms of total precipitation. Despite this, the amount of rain Memphis gets is still substantial and can help keep your solar panels clean and efficient.
Memphis’s UV Rating
When it comes to UV ratings, Memphis Missouri enjoys a decent amount of sunshine. With an average UV rating of 4.27, Memphis sits above the national average of 4.29. Additionally, Memphis ranks higher than most of Missouri in terms of UV rating, making it an ideal location for harnessing solar energy. The average max UV rating of 4.66 further solidifies Memphis as a prime spot for solar panel installation, offering plenty of sunny days to generate electricity.
Memphis’s Cloud Cover
Despite the occasional cloudy day, Memphis Missouri experiences an average cloud cover of 41%. While this may seem high compared to the national average of 44.46%, it is still lower than the statewide average of 39.07%. With different levels of cloud cover throughout the year, Memphis residents can still benefit from solar energy production. The variety of cloud cover percentages means there are plenty of days with optimal sunlight for your solar panels to work efficiently.
Memphis Missouri Electricity Costs
When it comes to electricity costs, Memphis Missouri residents are in a favorable position. Paying $0.1 per kilowatt-hour, Memphis falls below both the national average of $0.13/kw and the state average of $0.11/kw. By transitioning to solar energy, not only can you save money on your current electricity bills, but you can also protect yourself from potential future rate hikes by utility companies. Investing in solar panels can provide long-term financial benefits for Memphis residents.
When could you expect to break even on a solar installation in Memphis Missouri?
Considering the weather and electricity costs in Memphis, Missouri, 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:
- Memphis, Missouri receives less precipitation compared to the national average, making it a good location for solar panel installation.
- The UV ratings in Memphis, Missouri are very close to the national average, indicating good conditions for generating solar power.
- Cloud cover in Memphis, Missouri is slightly lower than the national average, with some variability throughout the year.
Now, let’s consider the electricity costs:
- Residents in Memphis, Missouri pay a bit less for electricity compared to the national average, which can affect the savings from 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, especially with Memphis, Missouri’s lower electricity rates.
- These savings will accumulate over time and help pay off the initial cost of the solar panels.
After performing the calculations, it appears that it would take approximately 4 to 6 years to cover the initial cost of the solar panels in Memphis, Missouri. This means that after this period, the savings on electricity bills would start to surpass the investment cost. Considering the durability of solar panels, the savings will continue for many years, providing a cost-effective and environmentally friendly energy solution.
Investing in solar power in Memphis Missouri
With abundant sunshine, favorable weather conditions, and lower electricity costs, transitioning to solar energy in Memphis, Missouri can lead to significant long-term financial benefits. Analysis of weather data and electricity costs specific to Memphis shows that investing in solar panels could lead to a break-even point in as little as 4 to 6 years. After this initial period, the savings on electricity bills will continue to outweigh the investment cost, making solar panels a cost-effective and environmentally friendly energy solution for Memphis residents. Making the switch to solar power in Memphis, Missouri can not only help save money but also contribute to a sustainable future.