Overview
Are you looking to save money on your electricity bill in Mount Vernon, Indiana? Installing solar panels on your home could be a cost-effective solution. By analyzing weather data and electricity costs for the area, we found that investing in a solar system can lead to significant savings over time. In this article, we break down the financial benefits of going solar and estimate how long it will take for you to break even on your investment.
Mount Vernon Indiana Weather Trends
Mount Vernon Precipitation
With Mount Vernon receiving 114.71 inches of precipitation in the last year, it is evident that the city sees significantly more rainfall compared to the national average of 50.61 inches and Indiana’s average of 50.24 inches. By harnessing solar energy, residents can take advantage of sunny days to generate power, offsetting electricity costs incurred during rainy periods.
Mount Vernon’s UV Rating
Mount Vernon’s average UV rating of 6.4 in the last year showcases the city’s high potential for solar energy production, exceeding both the national average of 4.29 and Indiana’s average of 4.23. With an average max UV rating of 6.57, there are ample opportunities for residents to capitalize on solar power, leading to long-term energy savings for their homes.
Mount Vernon’s Cloud Cover
Despite Mount Vernon experiencing an average of 59% cloud cover, which is higher than the national average of 44.46% and Indiana’s average of 47.27%, there are still plenty of clear days for solar panels to effectively capture sunlight. By utilizing solar energy during periods of lower cloud cover, residents can decrease their reliance on traditional electricity sources.
Mount Vernon Indiana Electricity Costs
Residents in Mount Vernon pay about $0.16/kw for electricity, compared to the national average of $0.13/kw. While Mount Vernon’s electricity costs are higher than the national average, investing in solar panels can help mitigate these expenses over time, providing residents with potential long-term financial savings and contributing to a more sustainable environment.
When could you expect to break even on a solar installation in Mount Vernon Indiana?
Considering the weather and electricity costs in Mount Vernon 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:
- Mount Vernon Indiana receives more than double the national average in precipitation, but it still has good UV ratings for generating solar power.
- The average UV ratings in Mount Vernon Indiana are higher than the national average, making it a suitable location for solar panels.
- Cloud cover in Mount Vernon Indiana is higher than the national average, with varying degrees throughout the year.
Now, let’s consider the electricity costs:
- Residents in Mount Vernon Indiana 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 need to buy as much from the grid.
- With Mount Vernon Indiana’s higher electricity rates compared to the national average, the savings from using solar power are significant.
After running the numbers, it appears that it would take approximately 5-6 years to cover the initial cost of the solar panels in Mount Vernon Indiana. This means that after this period, the money saved on electricity bills will start to accumulate and pay off the investment. Additionally, since solar panels last for 25-30 years, there will be many years of continued savings after the initial investment has been recouped. Investing in solar panels is not only a smart financial decision but also a beneficial choice for the environment.
Investing in solar power in Mount Vernon Indiana
Installing solar panels in Mount Vernon, Indiana can lead to significant savings on electricity bills over time. By taking advantage of the city’s high UV ratings and sunny days despite occasional cloud cover, residents can generate their own power and reduce reliance on the grid. With electricity costs slightly higher than the national average, investing in solar panels is a cost-effective solution that can pay for itself within 5-6 years. Not only does this provide long-term financial benefits, but it also contributes to a more sustainable environment for future generations.