Overview
Are you looking to save money on your electricity bills while also helping the environment? Installing solar panels on your home in Rumson, New Jersey can be a great investment. By analyzing weather data and electricity costs specific to the area, we can show you how much you can potentially save by switching to solar energy. Learn about the financial benefits of going solar and how long it might take to break even on your investment.
Rumson New Jersey Weather Trends
Rumson Precipitation
With Rumson, New Jersey receiving 68.27 inches of precipitation in the last year, it is clear that the area experiences a fair amount of rainfall. This puts Rumson above the national average of 50.61 inches, making it an ideal location for harnessing solar energy efficiently. Although New Jersey’s average is slightly higher at 65.31 inches, the amount of precipitation in Rumson provides a great opportunity to generate solar power.
Rumson’s UV Rating
Having an average UV rating of 3.98 in the last year, Rumson, New Jersey enjoys a moderate amount of sunlight. This rating places Rumson in the 44th percentile nationwide and the 33rd percentile within New Jersey. While the national average UV rating is slightly higher at 4.29, and New Jersey’s average stands at 4.04, Rumson’s UV rating is sufficient for effective solar energy production. Additionally, with an average max UV rating of 4.09, Rumson offers ample sunlight for solar panel performance.
Rumson’s Cloud Cover
At an average of 45% cloud cover, Rumson, New Jersey experiences moderate cloudiness throughout the year. This places Rumson in the 53rd percentile in the nation and the 27th percentile in New Jersey. While the national average for cloud cover sits at 44.46%, and New Jersey’s average is slightly higher at 45.99%, Rumson’s cloud cover is conducive to harnessing solar energy effectively. With a varied distribution of cloud cover days, Rumson provides ample opportunities for solar energy generation.
Rumson New Jersey Electricity Costs
Residents in Rumson, New Jersey pay about $0.13/kw for electricity, positioning the area favorably in terms of electricity costs. This places Rumson in the 71st percentile across the nation and the 9th percentile within New Jersey. While the national average for residential electricity costs remains at $0.13/kw, New Jersey’s average is slightly higher at $0.16/kw. By opting for solar panels, Rumson residents can significantly reduce their electricity expenses and contribute to a cleaner environment.
When could you expect to break even on a solar installation in Rumson New Jersey?
Considering the weather and electricity costs in Rumson, 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:
- Rumson receives more precipitation compared to the national average, but it still has enough sunshine for solar panels to be effective.
- The average UV ratings in Rumson are slightly lower than the national average, but they are still suitable for generating solar power.
- Cloud cover in Rumson is around the national average, with variations throughout the year.
Now, let’s consider the electricity costs:
- Residents in Rumson pay the national average price for electricity.
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 average electricity rates, the savings accumulate over time.
After calculations, it appears that it would take approximately 5 years to cover the initial cost of the solar panels. This means, after 5 years, the money saved on electricity bills will start to pay off the investment. Additionally, considering the long lifespan of solar panels, the savings will continue for many years after breaking even. Investing in solar panels is a wise way to save money and contribute to environmental preservation simultaneously.
Investing in solar power in Rumson New Jersey
Investing in solar panels in Rumson, New Jersey can be a smart financial decision that also benefits the environment. The area’s weather conditions, including ample sunlight and moderate cloud cover, make it ideal for generating solar power efficiently. With electricity costs in Rumson aligning with the national average, residents have an opportunity to significantly reduce their electricity expenses. Based on calculations, it would take around 5 years to break even on the initial investment in solar panels, after which savings on electricity bills will start to pay off the cost. By going solar, residents not only save money but also contribute to a cleaner, more sustainable future. Considering the long lifespan of solar panels, the financial and environmental benefits continue for many years beyond the break-even point.