Overview
In this article, we will explore the financial benefits of installing solar panels on your home in Newell, South Dakota. By analyzing weather data and electricity costs specific to the area, we will show you how much money you can save over time by making the switch to solar energy. With a breakdown of the cost of a solar system and an estimate of how soon you can break even, you will see how investing in solar panels can be a smart financial decision for residents of Newell.
Newell South Dakota Weather Trends
Newell Precipitation
With Newell receiving 35.73 inches of precipitation in the last year, residents can take advantage of this valuable resource for solar energy. While this puts Newell below the national average of 50.61 inches, it is higher than South Dakota’s average of 34.67 inches. By harnessing the power of the sun, Newell residents can offset their electricity costs and reduce their reliance on traditional energy sources.
Newell’s UV Rating
With an average UV rating of 3.79 in the last year, Newell offers ample sunlight for efficient solar panel operation. Although Newell’s rating is below the national average of 4.29, it is on par with South Dakota’s average of 3.96. Additionally, the average max UV rating of 4.1 provides even more potential for solar energy production. By utilizing this abundant resource, residents can save money on their electricity bills while reducing their carbon footprint.
Newell’s Cloud Cover
With an average of 33% cloud cover in the last year, Newell enjoys clear skies that are optimal for solar panel performance. Compared to the national average of 44.46% and South Dakota’s average of 40.74%, Newell’s lower cloud cover percentage provides residents with more sunshine to power their homes. With a significant number of days with minimal cloud cover, Newell is an ideal location for solar panel installation.
Newell South Dakota Electricity Costs
At $0.13/kw for electricity, Newell residents have the opportunity to save money by transitioning to solar power. While this places Newell in the 80th percentile in the nation and the 87th percentile in South Dakota, the national average for residential electricity is also $0.13/kw. With South Dakota’s average sitting at $0.11/kw, investing in solar panels can help Newell residents lower their electricity bills and achieve long-term savings.
When could you expect to break even on a solar installation in Newell South Dakota?
Considering the weather and electricity costs in Newell, South Dakota, 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:
- Newell, South Dakota receives less precipitation than the national average, which is good for solar panel efficiency.
- The UV ratings in Newell, South Dakota are slightly below the national average but still sufficient for generating solar power.
- Cloud cover in Newell, South Dakota is lower than the national average, with a good number of days having minimal cloud cover.
Now, let’s consider the electricity costs:
- Residents in Newell, South Dakota pay the national average price for electricity, which is $0.13/kw.
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.
- With the average electricity cost in Newell, South Dakota, the savings will accumulate over time.
After analyzing the data, it appears that it would take approximately 8-10 years to cover the initial cost of the solar panels. This means, after this period, the money saved on electricity bills will begin to offset the investment cost. Additionally, considering solar panels last for 25 to 30 years, there will be long-term financial benefits and environmental advantages to utilizing solar energy in Newell, South Dakota.
Investing in solar power in Newell South Dakota
Installing solar panels in Newell, South Dakota can offer significant financial benefits over time. By taking advantage of the area’s weather conditions and electricity costs, residents can save money on their electricity bills and ultimately break even on their solar investment within 8-10 years. With the long lifespan of solar panels and the potential for continued savings, transitioning to solar energy is a wise choice for residents of Newell looking to save money and reduce their environmental impact in the long run.