It does. Anemometer and vane can run long lengths. It seems, and perhaps Allycat would best to answer this, that sensors with I2C connections are more susceptible to loss than analog sensors and that the simpler the signal (ie rain gauge reed switch on/off) the longer the cable run can be.
nice layout here;
http://mea.com.au/soil-plants-climate/we...r-stations
nice layout here;
http://mea.com.au/soil-plants-climate/we...r-stations

