Here are the things you need to know about solar energy for your home:
While solar energy has been in the news for at least a decade, many homeowners still aren’t sure how to implement it in their homes — or what the benefits would be. To complicate matters, while most reputable utility companies are completely on board with the solar revolution, some energy companies still try to tout the traditional electric grid as an equally economical option. In order to sell their grid systems, these companies don’t want you to know several things about solar energy:
1. Solar Energy Saves Money
On average, homeowners can save as much as $100-$200 a month by installing solar photovoltaic (PV) panels, with amounts depending on regional weather conditions.
The solar panels Colorado homeowners prefer, for the most part, are the rooftop-mounted panels that allow for optimum exposure to the sun’s strong, photon-filled rays. These rays activate the solar panel cells to generate electricity. With more than 300 days of sunshine a year, Colorado homeowners are in an ideal location to reap substantial savings by going solar.
2. Solar Installation Is Cheaper Now
Residential solar energy prices are at the lowest that they’ve been in 10 years. In addition, many solar installation companies offer generous financing terms so you can pay over time. Many customers — especially in sunny areas such as Colorado — report that, in addition to enjoying no monthly electricity bills, they’ve been able to recoup the price of their installation in five to ten years.
3. You Can Benefit From Colorado Solar Incentives
Colorado ranks in the top 10 states for solar energy, largely due to the Colorado state policies that support solar energy. For example, the Recharge Colorado Rebate will pay as much as $1.50 per watt for up to 3 kilowatts. Likewise, both Xcel Energy and Black Hills Energy offer a number of per-kilowatt rebate programs for business owners and homeowners. For more information, here’s a list of additional rebate programs in effect throughout Colorado.
4. There Are Many Solar Panel Tax Credits
Both the state and the federal government offer a number of solar energy tax credits. For instance, you can calculate the value added to your home by your solar panel system, and then exempt that amount from your property taxes. In addition, the federal government offers a 30 percent solar investment tax credit, which reimburses both business owners and homeowners with 30 percent of the price of their solar panel system — including installation fees.
There’s a reason that Colorado has so many solar installation companies statewide. With cheaper installation prices, generous incentives and rebates, and no monthly electric bills, solar energy offers significant advantages to both home and business owners — whether the big electric companies want you to know it or not.
Interested in learning more about solar energy? Request a free solar panel installation quote today!