Guide to Solar Panels in Colorado
Are you looking to save money on your monthly power expenses? It’s easy to switch to solar using solar panels in Colorado.
You may have heard of “going solar” or the possibility of investing in solar panels to power your home. Colorado’s sunny climate is why it’s so popular. Colorado boasts 300 days of sunshine per year. This makes it the ideal place for people who want to live off-grid and run their homes on solar energy.
You’re in the right place if you have ever been curious about Colorado’s solar panel incentives and pricing. We’ll talk about all of this and other topics so that you can make the right decision for your home.
Solar Energy Has Many Benefits
Solar energy has positive effects on the environment. We all know this. Are there benefits for your household? There are. Continue reading to learn more about the benefits of installing solar cells at your home.
1. Reduce Your Electricity Bill
If you don’t have an alternative power source, you will likely continue to use electricity from the grid throughout the year. The majority of homes in the US use electricity to keep cool in summer and warm during winter. Solar power can be used to reduce your utility bills. Even if your electricity bill is not completely covered, it can still be reduced by reducing energy costs.
2. There Are Ways to Avoid Rising Electricity Costs
Consider the rising cost of electricity when comparing Colorado’s solar panel incentives and pricing. You may not want your household budget to be affected by rising energy prices, especially if you are looking into the future or have a fixed income.
3. Solar Panels Require Very Little Maintenance
After your solar system has been installed, there is no need to maintain it. Solar panels in Colorado can withstand harsh weather conditions and are strong, durable, and require very little maintenance. They are not easy to break and don’t have moving parts. Solar panels are expected to last for as many as 30 years and require little maintenance.
Solar Power in Colorado
Each state has its own solar energy system, which can make it difficult to understand how it works in your particular state. Is Colorado solar energy worth the investment? Are you willing to pay less for solar energy? What are the Colorado solar panel prices and incentives? We’ll be discussing the details of solar energy in Colorado in the rest of this article.
According to research, Colorado is one of the most promising states for solar energy. And site studies show that 86% of Colorado’s buildings can be made solar-viable and have the potential to generate 24.7 million megawatts per year.
Researchers from Colorado State University also claimed that a five-kilowatt system could generate an average of 8,000 kilowatts per year. Colorado households can expect to save $880 annually at an average cost of $.11/KwH.
Federal Solar Investment Tax Credits
The federal solar tax credit must be canceled. It was, however, extended to 2024 due to the COVID-19 pandemic. If you have your solar panels installed before December 31, 2022, you will be eligible for a 26% tax credit on your federal taxes. For example, if your solar system costs $20,000, you will owe $5,200 less when filing your 2022 taxes.
Colorado Solar Property Tax Exemption
Are there any exemptions from Colorado’s solar property tax? Yes. Colorado is committed to clean energy and will offer tax breaks to residents who choose to go solar. You won’t have to pay sales tax if you buy a solar system through the Sales and Use Tax Exemption for Renewable Energy Equipment.
The Property Tax Exemption for Residential Renewable Energy Equipment means that you won’t be subject to property tax on any increase in your home’s value due to the installation of your solar panel.
Ready to Go Solar in Colorado?
If you’re interested in going solar but aren’t sure where to start, ESD Solar can help. Our team of solar experts will help guide you through the entire process from start to finish, from the design and installation of your system to ongoing maintenance.
ESD Solar supplies the best-performing solar equipment on the market today. We know when it comes time to install our panels on your roof, it’s about more than just making a profit for our company. It’s about helping you at great value and providing you with an exceptional experience. Contact us today!