Colorado Solar Information

Pros and Cons of Buying Solar Panels in Colorado

Pros:

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  Relatively short payback period

  The length of time that is needed to pay off the initial price of the purchase and the installation of a solar power system is known as the solar payback period. Increased utility rates, lower solar equipment costs, and solid solar programs and incentives make it much easier to achieve a shorter payback period. Nationwide, the average solar payback period is just below 8 years. Currently, Colorado's typical payback period is just under 9 years.
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  After the payback period, solar power is nearly free

  In Colorado, utility companies do not charge you a connection fee to plug in your solar power system. It means that once your solar energy system is paid off, the electricity it produces will be free for you to use.
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  Great savings on a monthly electric bill

  You begin generating your own electricity once you install a solar energy system in your home. Solar adoption will help you be less dependent on your local utilities and their high utility rates, which are extremely affected by inflation. The financial benefits of going solar will be evident on your monthly electric bill from day one, even if you are still paying for your PV system.
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  Helping the environment since solar energy is clean, sustainable, and renewable

  In addition to saving you money every month, solar power is a clean, renewable and sustainable source of energy. Sunlight is plentiful and free to collect without damaging the environment. Moreover, installing a solar system of average size will save 208 trees each year. Using solar energy instead of coal and gas will reduce our carbon footprint by greatly decreasing air and water pollution.
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  Support from the government and the state

  Colorado is one of the states with the best solar state programs and incentives. Moreover, The Federal Investment Tax Credit is still available and save you 30% on the entire solar purchase and installation. As a result of this economic assistance, individuals see the cost of their solar equipment dropped by thousands of dollars.
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  Very low maintenance

  Solar panels have no moving parts so, ultimately, with their use, there is no wear and tear. As a result, when operating, solar panels are silent. The only maintenance they need is the occasional cleaning to maintain them free from dust and dirt.
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  Excellent warranty protection

  Nowadays, the majority of solar panels come with two forms of warranties: performance guarantee and extended product guarantee. The 25-year performance warranty guarantees at least 25 years of optimal energy production. Extended warranties ensure that faulty equipment, breakage or any performance deficit that may occur will be repaired.
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  Increase in the property value

  The newest studies by several real estate companies have shown that adding solar panels on your home's roof certainly increases the value of the property. Typically, the installation of a solar system will increase your home value by 4.1%. In addition, not only do homes with photovoltaic systems sell at greater rates, but they also sell quicker than homes without solar systems.

Disadvantages:

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  The possible high initial cost

  Purchasing a PV system can certainly create somewhat high expenses. Not only do you have to buy solar panels when you decide to go to solar, but you also have to pay for all the solar equipment and accessories, as well as the system installation. Nevertheless, the original cost can be considerably reduced with the availability of federal and state solar programs, local utilities incentives and rebates. Most importantly, going solar will save you money from day one on your electric bill.
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  Must have a large, open area for installation.

  You will need about 500 sq. feet of space on the roof to install an average 5kW solar panel system. For the photovoltaic system to operate efficiently that area must be clear from any tree shade or shade from other structures. For some homeowners, this requirement can become an issue. Luckily, the solar panels can also be installed on the ground if they have full access to sunlight.
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  Must be a property owner to install

  Nowadays, solar power systems can mostly be installed for homeowners with excellent credit and/or good profit. For renters, low-income individuals, or individuals without a job, solar advantages are not yet available.

Is It Worth Going Solar in Colorado?

Besides obvious advantages of solar power, living in Colorado adds an additional benefit to this list. Colorado has one of the best Net Metering in the country and offers great state incentives, tax breaks and rebates on solar. Colorado is also famous for its 300 days of sunshine a year, which makes the state one of the sunniest in the USA. With this much sun energy and significant financial assistance, the only way to go is solar.