Overview
Are you a Shipman, Illinois resident looking to save money on your electricity bills while also reducing your carbon footprint? Installing solar panels on your home could be the answer you’ve been looking for. By analyzing weather data and electricity costs specific to Shipman, Illinois, we can estimate the financial benefits of investing in a solar system. With the potential to break even on your investment in a reasonable amount of time, going solar could be a smart financial decision for you and your family.
Shipman Illinois Weather Trends
Shipman Precipitation
Shipman, Illinois received 44.67 inches of precipitation in the last year, ranking it in the 37th percentile nationally and the 58th percentile within Illinois. With the national average at 50.61 inches and Illinois at 45.69 inches, Shipman sees slightly less precipitation. By harnessing solar energy, residents can take advantage of the available sunlight despite occasional rainfall.
Shipman’s UV Rating
Shipman, Illinois had an average UV rating of 4.41 last year, placing it in the 62nd percentile nationally and the 77th percentile within Illinois. With the national average at 4.29 and Illinois at 4.21, Shipman enjoys higher levels of sunlight exposure. This means that installing solar panels could result in more efficient energy production and potentially greater savings on electricity bills for residents.
Shipman’s Cloud Cover
In the last year, Shipman, Illinois experienced an average of 40% cloud cover, ranking it in the 27th percentile nationally and the 8th percentile in Illinois. With the national average at 44.46% and Illinois at 44.03%, Shipman enjoys relatively clear skies. This means that solar panels in Shipman are likely to receive consistent sunlight, maximizing energy production throughout the year.
Shipman Illinois Electricity Costs
Shipman residents pay about $0.1/kw for electricity, placing them in the 6th percentile nationally and the 4th percentile within Illinois. With the national average at $0.13/kw and Illinois at $0.12/kw, Shipman residents already enjoy comparatively lower electricity costs. By installing solar panels, residents have the opportunity to further reduce their electricity bills and potentially even generate excess energy to sell back to the grid.
When could you expect to break even on a solar installation in Shipman Illinois?
Considering the weather and electricity costs in Shipman, Illinois, 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:
- Shipman gets slightly less rainfall than the national average, which is good for solar panel efficiency.
- The UV ratings in Shipman are higher than the national average, making it a suitable location for solar power generation.
- Cloud cover in Shipman is below the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Shipman pay less for electricity compared to the national average, which is beneficial for the cost-saving potential of solar panels.
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 purchased from the grid, resulting in savings.
- With Shipman’s lower electricity rates, the savings from using solar power are slightly reduced compared to areas with higher rates.
After crunching the numbers, it looks like it would take approximately 7-8 years to cover the initial cost of the solar panels in Shipman, Illinois. This means that after 7-8 years, the money saved on electricity bills will start to accumulate and pay off the investment. Since solar panels have a lifespan of 25-30 years, the savings accrued after the initial payback period will provide long-term benefits for the residents. Investing in solar power is not only financially beneficial but also environmentally friendly, making it a smart choice for homeowners in Shipman.
Investing in solar power in Shipman Illinois
After analyzing the weather trends and electricity costs specific to Shipman, Illinois, it is clear that investing in solar panels could be a financially smart decision for residents. With higher than average UV ratings, lower than average cloud cover, and below-average electricity costs, the benefits of solar power in Shipman are promising. By breaking down the costs and calculating the payback period, it is estimated that residents could cover the initial investment in approximately 7-8 years. Considering the lifespan of solar panels and the long-term savings on electricity bills, going solar in Shipman is not only a wise financial choice but also an environmentally friendly one. Residents have the opportunity to save money and reduce their carbon footprint by making the switch to solar energy.