Hundreds of millions of dollars in investment, over 6,000 jobs, and 925.8 MegaWatts of power. According to Colorado.gov, these are the things that put Colorado at the forefront of renewable energy and solar power. The benefits of solar can be seemingly obvious—huge savings on energy costs from month to month, and a greatly reduces carbon footprint. But with each state offering different rebates, incentives and utility programs, what will going solar in Colorado look like?
What Is Involved in Going Solar?
Unfortunately, solar PV panels aren’t just made available on the shelves of your local superstore. And even if they were, each home requires a custom approach when it comes to making the most out of the peak sunlight it receives each day. Going solar the right way involves working with a trusted local contractor like CAM Solar.
Once we have spoken with you about your goals for going solar, we will do an on-site evaluation of your home to determine a custom-designed system that will fit your exact needs. From there, our Colorado solar experts will pair you with any and all available rebates, tax incentives, and utility programs to make your new solar installation as affordable as possible.
The Federal Investment Tax Credit
The federal government is currently incentivizing homeowners to increase their energy conservation by offering a tax deduction of 30% of the cost of a solar system. This means that on a system that costs $20,000 to install, you can take $6,000 off what you owe on your federal taxes. And if you already owe less than your deduction, you can roll over the remainder to the taxes of the next fiscal year!
Xcel Energy Solar Rewards Program
In Denver, the local utility Xcel Energy is offering to “buy back” the excess electricity that your new solar electric system harnesses. Xcel will credit you $0.005/kWh that your solar system generates, which offsets the cost of the energy you use overnight while the sun is down, averaging about $800 a year!
The “Current” State of Colorado Solar
Utility and community solar have skyrocketed in the last few years in Colorado’s cities and neighborhoods. This is likely due to the dropping cost of solar panels in the last ten years, and we think Colorado is on the brink of a solar electric system explosion. The large amount of peak sunlight hours that Colorado receives all year round make nearly every home a great candidate for reaping the benefits of solar, and the earlier your solar system is installed, the more you can save in energy costs!
Get Your Free, No Obligation Solar Quote
CAM Solar wants to provide a bright future for our homes and neighbors. Our solar specialists will provide you with a no obligation solar quote, so that you can have all the numbers before you sign on the dotted line. When you are ready to see what your monthly energy bill could look like when you utilize the energy of the sun, call CAM Solar!