Is Solar Worth it in Colorado?

Is Solar Worth it in Colorado?

Government programs available to help offset the cost of solar panels have been a big factor in helping homeowners determine whether or not they should invest in a rooftop system.

All states have a variety of different programs and incentives available, some more effective than others. Colorado is no exception so let’s take a look at all the ways you can get help with your solar panels.

Colorado solar panel cost

The cost of solar panels in Colorado is about 10% higher than the national average. This information comes from researchers at Yale and MIT who found that homeowners living in southern states receive a higher return on their investment over those whose houses are located up north and has to deal with harsh winters. The reason? The sun shines brighter and more often in states with a southern exposure so you see a higher increase in your energy bill savings.

Of course, the 10% by which Colorado solar panels are more expensive than other states is calculated based on the national average of $4 per watt.

If you have an installer who quotes you a price at say $3.50 per watt, you’ll save on the installation costs and since Colorado offers a 30% tax break for solar purchases , it could actually be cheaper to go solar in CO than anywhere else in the country.

Colorado state tax credit

The Colorado Solar Energy Industries Association (COSEIA) has been leading the charge for renewable energy policies in the state since 1977. In fact, it is a non-profit, voluntary membership organization that was founded by members of the solar industry and has been working ever since to represent their interests on policy issues at both the national and state level.

Aside from lobbying for better state policies, COSEIA also provides educational resources such as reports that break down the cost of solar compared to other energy sources.

The most recent report is the Colorado Renewable Energy Standard, which you can find on their website at cosia.org . Based on last year’s data, COSEIA says that moving to a 100% renewable electricity future would save consumers in Colorado over $1 billion per year by 2030, and that’s just on electricity bills.

Colorado rebate programs

The Colorado Energy Office (CEO) oversees four different programs that can help you offset the cost of solar installations.

All of these programs are administered by the state’s electric utilities so it all comes back to money. The more control they have over how energy is generated, the less risk there is to them in regards to power outages or other problems. This means you’re going to have to do a little extra legwork in order to get exactly what you want.

Energy education fund

The Energy Education Fund is the only rebate that doesn’t involve your home’s electrical utility and it may be one of the best opportunities for Colorado residents who don’t live in Denver or Fort Collins. The money from this fund actually comes from a surcharge on your electricity bill so the more energy you use, the more money you have to apply towards solar panels.

Up to $2,650 per home or building can be funded for things like educational outreach programs that inform people about renewable energy technologies. This is great for schools who are looking into ways to educate students about the technologies available to them and can help supplement any other solar rebate programs you might be looking to use.

Solar industry education program

The most popular of all the CEO’s programs, this one’s actually run by COSEIA. You can find information about it on COSEIA ‘s website at cosia.org. The Solar Industry Education Program (SIEP) provides training and education to students who are interested in pursuing a career in the solar energy industry.

COSEIA offers a list of classes that can help you qualify for this program so visit their website if the idea of working with renewable technologies interests you.

New homes rebate

This is one of those programs where it pays to shop around to get the best deal. The Home Energy Rebate Program (HERP) helps subsidize up to $6,000 of solar installations in new homes and it’s another one run by your local utility company.

The money for HERP comes from a surcharge on each utility customer’s monthly bill so if you’re thinking about going solar for an existing home, it might be a better idea to use the money you would have spent on this program and put it towards buying a new home that already has solar panels installed.

It all comes back to money. The more control they have over how energy is generated, the less risk there is to them in regards to power outages or other problems.”

To make a list of solar-friendly energy policies in Colorado, you have to go all the way back to 1977 when the state made net metering available for all customers. Net metering is one of those basic “green” policies that any state would be foolish to get rid of since it basically states that if a home or business has solar on its roof, it can sell the surplus electricity back to the utility company.

In 2014, Colorado passed a bill that allowed more of those energy surcharges your utilities mentioned to be used for renewable energy subsidies. In fact, 25% of that money had to go towards support for renewables and there’s no cap as to how much of those surcharges can go towards renewables.

The state also has a 25% tax credit for commercial and residential solar installations that’s set to expire at the end of 2016 so if you’re thinking about switching over, it would be wise to do it before the sun goes down on this one.

There’s no denying the fact that Colorado has some great programs to help you save money and lower your carbon footprint. If we can keep having these kinds of conversations with our utility companies, we might even see them move along the renewable energy bandwagon a little faster. Now there’s an idea that’s worth investing in.”

Is Solar Worth It in colorado?

Yes, of course it is! The great thing about solar panels is that they pay for themselves and the entire process only takes around five to seven years. After that, you’ll be saving money every month on your electricity bill and helping make this world a better place by promoting more renewable energy sources such as solar power.

It’s worth mentioning that Colorado has a great solar rebate program and there are several others that can help defray the costs of going solar. Take advantage of any and all programs that your local utility company might offer because every bit counts when you’re saving money on something as expensive as a home upgrade.

Not only will you be lowering your monthly bills for years to come, there’s also a small chance that you’ll be able to make money off of your solar panels by selling surplus energy back to the utilities. The more control they have over how this energy is generated, the less risk their investments are putting them under.

After all, companies don’t invest time or money into something if they can’t turn a profit and the same goes for solar panels. They’re a solid investment and it’s worth putting your money towards something like this if you want to make a difference in the world we live in. The time is always right to do what’s right!

There are plenty of reasons why going solar is worthwhile and we’ve only touched on a few of them. Just keep in mind that you’ll need to factor in costs and benefits and don’t be afraid to ask for help when you think you can use it.

Conclusion

We hope that this article has been helpful in your search to find out if going solar is right for you. Always do your homework and never settle when it comes to a decision like this one. Solar panels are a worthwhile investment and the sooner you start thinking along these terms, the sooner your bills will be a thing of the past!

Hi there! I'm Ally, I can help you find out if solar makes sense for your home in 30 seconds!

See if your home qualifies and how much you could save with current programs available...

Hi there! I'm Ally, I can help you find out if solar makes sense for your home in 30 seconds!

See if your home qualifies and how much you could save with current programs available...