Overview
This article will show you how installing solar panels on your home in Mount Laurel, New Jersey can save you money on your electricity bills. By looking at the weather data for the area, we can see that there is plenty of sunlight throughout the year, making it an ideal location for harnessing solar energy. With the cost of electricity on the rise, investing in a solar system can help you lower your utility bills and recoup your investment in a reasonable amount of time. Let’s break down the numbers and see how solar power can benefit you financially in the long run.
Mount Laurel New Jersey Weather Trends
Mount Laurel Precipitation
With Mount Laurel receiving 58.89 inches of precipitation last year, it is clear that the area has a good amount of rain. However, compared to the rest of the country, Mount Laurel falls in the 68th percentile, and in New Jersey, it falls in the 12th percentile. Considering the national average of 50.61 inches and New Jersey’s average of 65.31 inches, Mount Laurel is well within the range for adequate precipitation.
Mount Laurel’s UV Rating
Having an average UV rating of 4.23, Mount Laurel is positioned at the 55th percentile nationally and the 92nd percentile within New Jersey. When we look at the national and state averages of 4.29 and 4.04 respectively, it becomes evident that Mount Laurel experiences a healthy amount of sunlight. Additionally, with an average max UV rating of 4.57, Mount Laurel is in a favorable position to harness solar energy efficiently.
Mount Laurel’s Cloud Cover
Last year, Mount Laurel had an average of 44% cloud cover, placing it in the 51st percentile nationwide and the 16th percentile within New Jersey. Compared to the national average of 44.46% and New Jersey’s average of 45.99%, Mount Laurel experiences a moderate amount of cloud cover. With a good number of days with low cloud cover percentages, Mount Laurel provides ample sunlight for solar panel efficiency.
Mount Laurel New Jersey Electricity Costs
Residents of Mount Laurel pay around $0.17/kw for electricity, positioning the area in the 96th percentile nationally and the 73rd percentile in New Jersey. Considering the national average of $0.13/kw and New Jersey’s average of $0.16/kw, Mount Laurel’s electricity costs are relatively high. By investing in solar panels, residents can significantly reduce their utility bills and save money in the long run.
When could you expect to break even on a solar installation in Mount Laurel New Jersey?
Considering the weather and electricity costs in Mount Laurel, New Jersey, 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:
- Mount Laurel gets more precipitation than the national average but still has good amounts of sunlight for solar panels.
- The UV ratings in Mount Laurel are slightly lower than the national average, but they are still suitable for generating solar power.
- Cloud cover in Mount Laurel is close to the national average, with varying levels throughout the year.
Now, let’s consider the electricity costs:
- Residents in Mount Laurel 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 needed from the grid and thus saving money.
- With Mount Laurel’s slightly higher electricity rates, the savings will be more significant.
After analyzing the numbers, it appears that it would take around 5 years to cover the initial cost of the solar panels. This means that after 5 years, the money saved on electricity bills will begin to offset the investment. Keep in mind that solar panels have a long lifespan, so after this initial period, you’ll continue to benefit from these savings for many years. It’s a wise decision to save money and contribute to environmental conservation simultaneously!
Investing in solar power in Mount Laurel New Jersey
By analyzing the weather data and electricity costs in Mount Laurel, New Jersey, it is evident that installing solar panels can be a cost-effective choice for residents. With ample sunlight, moderate precipitation, and relatively high electricity rates, investing in solar power can lead to significant savings in the long run. Taking into account the initial investment and potential savings, it is estimated that homeowners can break even on their solar panel installation within approximately 5 years. This means that not only will residents reduce their utility bills, but they will also contribute to environmental conservation for many years to come. Making the switch to solar energy in Mount Laurel is a smart financial and eco-friendly decision!