Still not going to cut it. On site collection of rain data is the only sure fire solution. Furthermore, your "local" weather station will typically not have the data required to run the Penman-Monteith equation, and even if it did, this data is also better collected on site.
You are missing the point. The whole idea is to leverage a nearby personal weather station (average of a $1000 investment) so that everyone doesn't need to make that investment. Most of the stations we have found have all the data we need (some don't have solar radiation so we look to the next nearest). All of them have relative humidity, temperature (and dew point), altimeter, anemometer, and elevation (the rainfall isn't actually used in the P-M equation but we use it to figure out how much we still need to water).