Overview
In Somerset, Kentucky, installing solar panels on your home can lead to significant financial savings over time. By harnessing the power of the sun, residents can reduce their electricity costs and even generate extra income through net metering. By analyzing local weather data and electricity costs, we can estimate how long it will take for a solar system to pay for itself, making it a smart investment for homeowners in Somerset.
Somerset Kentucky Weather Trends
Somerset Precipitation
With 57.02 inches of precipitation in the last year, Somerset Kentucky ranks in the 64th percentile in the nation and the 76th percentile in Kentucky. Comparing these numbers to the national average of 50.61 inches and Kentucky’s average of 54.69 inches, it’s clear that Somerset receives a substantial amount of rainfall, making it an ideal location for solar panel installation.
Somerset’s UV Rating
Having an average UV rating of 4.37, Somerset Kentucky falls in the 60th percentile in the nation and the 63rd percentile in Kentucky. These numbers surpass the national average of 4.29 and are equal to Kentucky’s average of 4.37. Moreover, with an average max UV rating of 4.75, Somerset is in the 51st percentile in the nation and the 49th percentile in Kentucky, making it a perfect spot for solar energy production.
Somerset’s Cloud Cover
The average cloud cover in Somerset Kentucky over the last year was 45%, placing the city in the 56th percentile in the nation and the 36th percentile in Kentucky. While the national average stands at 44.46% and Kentucky’s average is 45.75%, Somerset has a favorable amount of cloud cover for optimal solar panel performance. With a good balance of clear days and partly cloudy days, residents can expect consistent solar energy generation.
Somerset Kentucky Electricity Costs
Residents in Somerset Kentucky pay about $0.11/kw for electricity, ranking the city in the 23rd percentile in the nation and the 50th percentile in Kentucky. When compared to the national average of $0.13/kw and Kentucky’s average of $0.11/kw, Somerset offers competitive electricity rates, making solar panel installation a cost-effective solution for reducing monthly energy expenses.
When could you expect to break even on a solar installation in Somerset Kentucky?
Considering the weather and electricity costs in Somerset, Kentucky, 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:
- Somerset, Kentucky, receives slightly more precipitation than the national average, but it still has enough sunlight for solar panels to be effective.
- The UV ratings in Somerset are slightly higher than the national average, which is great for generating solar power.
- Cloud cover in Somerset is around the national average, with some variation throughout the year.
Now, let’s consider the electricity costs:
- Residents in Somerset, Kentucky, pay slightly less 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.
- With lower electricity rates in Somerset, the savings are slightly less compared to the national average.
After crunching the numbers, it looks like it would take around 5 to 6 years to cover the initial cost of the solar panels. That means, after 5 to 6 years, the money you save on electricity bills will start to add up and pay off the investment. And remember, solar panels last for a long time, so after that initial period, you’ll be enjoying those savings for many years to come. It’s a smart way to save money and help the environment at the same time!
Investing in solar power in Somerset Kentucky
Installing solar panels in Somerset, Kentucky can bring substantial financial benefits to homeowners. With the city’s favorable weather conditions and competitive electricity rates, residents can expect to break even on their investment in solar panels in about 5 to 6 years. After this initial period, the money saved on electricity bills will continue to accumulate, making solar energy a smart and long-term investment for those in Somerset.