Have you been throwing around the idea of installing a solar system in your home? We hear about the importance of using green energy all the time.
The more we reduce our carbon footprint, the better it is for the environment. As more and more people begin using clean energy sources, the planet will begin to heal itself.
The demand for solar panels is increasing rapidly. According to a recent study wind and solar-generated 10% of global electricity for the first time in 2021. But is investing in solar energy worth it for the average homeowner? If you live in Colorado, the answer is yes.
Keep reading for a quick list of the most valuable Colorado solar incentives.
Lower Utility Bills
The average energy bill in Colorado is just over $116. Of course, this includes electricity, water, and gas. You can substantially cut down on these costs every month by installing solar panels in your home. If your entire house was powered by the energy of the sun, you could save over a thousand dollars a year.
This may not seem like a lot, but it adds up quickly. If you save $1,000 a year, you could pay off most of your solar system just through these savings in a decade.
Net Metering Programs
One of the most attractive Colorado solar incentives is called net metering. Through net metering, you stay connected to the power grid. This allows you to sell unused energy back to the power company.
In return, you’ll receive energy credits, which you can use when your solar production isn’t enough for your home. For example, during winter months and cloudy days, you might need to draw upon city power.
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Federal Tax Savings
Did you know that the federal government provides valuable solar tax incentives in Colorado? After installing solar panels and equipment for your home, claim your costs on your next tax return.
Uncle Sam will give you up to 26% of your costs back in the form of tax credits. For instance, if you spend $20,000 on a whole-home system, you can get up to $5,200 back.
Contact Blue Raven solar company today to get in touch with a Colorado solar panel company to get started.
Power Purchase Agreements
Power purchase agreements are one of the most amazing Colorado solar incentives you need to know about. In this program, third-party companies purchase excess energy you generate from your solar system.
The best part of PPAs is that these companies pay for solar panels, inverters, and batteries. Essentially, all you’re providing is roof space. Not only will you enjoy free, renewable energy for your home, but you’ll also make hundreds of dollars a year.
Do You Like the Sound of These Colorado Solar Incentives?
As you can see, there are a lot of good reasons to invest in solar panels for your home. And we didn’t even have room to list all of the Colorado solar incentives available to homeowners. We highly recommend making the transition.
And if you’re looking for more homeowner tips or green-living advice, we’re here for you. Check out some of our other articles before you go to learn more about how to live a better, greener life.