Overview
Are you a Merritt Island resident wondering about the financial benefits of installing solar panels on your home? In this article, we will explore the cost of a solar system tailored to your area, as well as how long it may take for you to break even on your investment. By analyzing weather data and electricity costs specific to Merritt Island, we will show you how solar energy can save you money in the long run.
Merritt Island Florida Weather Trends
Merritt Island Precipitation
With 74.75 inches of precipitation in the last year, Merritt Island is in the 94th percentile nationally and the 74th percentile in Florida. Compared to the national average of 50.61 inches and Florida’s average of 65.98 inches, Merritt Island’s higher precipitation levels make it an ideal location for harnessing solar energy.
Merritt Island’s UV Rating
With an average UV rating of 5.88, Merritt Island ranks in the 95th percentile nationally and the 29th percentile in Florida. When compared to the national average of 4.29 and Florida’s average of 5.96, Merritt Island’s higher UV ratings indicate strong solar potential. In addition, the average max UV rating of 5.96 further highlights the suitability of Merritt Island for solar energy production.
Merritt Island’s Cloud Cover
With an average of 47% cloud cover, Merritt Island ranks in the 63rd percentile nationally and the 84th percentile in Florida. While the national average for cloud cover is 44.46% and Florida’s average is 43.5%, Merritt Island experiences a favorable amount of sunshine. With 69 days of clear skies and only 46 days of heavy cloud cover, solar panels in Merritt Island can maximize energy production throughout the year.
Merritt Island Florida Electricity Costs
Residents of Merritt Island pay approximately $0.1/kw for electricity, placing the city in the 17th percentile nationally and the 7th percentile in Florida. Compared to the national average of $0.13/kw and Florida’s average of $0.12/kw, Merritt Island offers relatively low electricity costs. By investing in solar panels, residents can take advantage of these affordable rates and save money in the long run while reducing their carbon footprint.
When could you expect to break even on a solar installation in Merritt Island Florida?
Considering the weather and electricity costs in Merritt Island, Florida, 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:
- Merritt Island gets more rain than the national average, but it still has a good amount of sunshine for solar panels to be effective.
- The UV ratings in Merritt Island are higher than the national average, making it a great location for generating solar power.
- Cloud cover in Merritt Island is slightly higher than the national average, but there are still plenty of sunny days throughout the year.
Now, let’s consider the electricity costs:
- Residents in Merritt Island pay less for electricity compared to the national average, with a rate of $0.1 per kilowatt-hour.
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:
- Solar panels generate electricity, reducing the amount needed from the grid and resulting in savings on electricity bills.
- With Merritt Island’s lower electricity rates, the savings may take longer to cover the initial cost compared to areas with higher rates.
After analyzing the data, it appears that it could take around 7-8 years to cover the initial cost of the solar panels. This means that after the 7-8 year mark, the money saved on electricity bills will start to surpass the initial investment. Since solar panels have a lifespan of 25-30 years, you can enjoy these savings for many years after reaching the break-even point. It’s a wise investment choice and a sustainable way to save money in the long run!
Investing in solar power in Merritt Island Florida
Installing solar panels in Merritt Island, Florida can be a smart investment choice. With higher than average UV ratings, favorable cloud cover, and lower electricity costs, residents can expect to break even on their solar panel investment in approximately 7-8 years. This means that after this timeframe, the savings on electricity bills will surpass the initial cost. Not only does this provide long-term financial benefits, but it also contributes to a more sustainable future. Consider harnessing solar energy in Merritt Island to save money and reduce your carbon footprint!