Living in Denver, you already know how integral the sunshine is to our everyday life, even when the temperatures are sub-freezing and snow covers the mountain tops (as well as our driveways). As solar power continues to make its way into the conversation of homeowners and business owners alike that are looking to reduce their energy costs, carbon footprint, and reliance on the energy grid, many Coloradans are reaching out to solar companies in Denver to ask, “Is solar panel installation really worth it here in Denver?”
CAM Solar is Denver’s trusted solar installation company, and we specialize in designing solar PV (photovoltaic) systems that are customized to leverage the strengths of the Colorado sun for solar energy production. Here’s what you should know about going solar in Denver, and why it is worth it!
Solar Costs Less Than You Think
The first thing that comes to mind for many Denver homeowners is, “How much does it cost to install solar?” Like any other home improvement upgrade, there is a cost/benefit analysis to be done. However, when you look at solar as not just an upgrade, but an investment, the value of solar becomes more evident.
Installing solar panels on your Denver roof or property reduces your energy costs, and in many cases with CAM Solar, we see energy bills entirely eliminated. We do this by properly designing your solar PV system to meet your energy needs, and helping you to utilize net metering to offset any additional energy costs that you might incur during times of low solar output (like overnight when the sun is down).
There are also multiple rebates and solar incentives available to homeowners in Denver, like the Federal Investment Tax Credit which allows you to reduce your federal taxes due by 26% of your total installation costs (though this percentage will drop to just 22% after 2022), as well as the ever-changing rebates offered by the state of Colorado, solar panel manufacturers, and local utilities.
Solar Panels Have Gotten More Efficient
In the beginning of solar panel technology, solar panels were only about 1% efficient, meaning they were able to convert 1% of the sun's energy into electricity. Modern solar panels are upwards of 25% efficient, which is a huge jump from the high mark of 17.5% efficiency back in 2012. When you combine this with the fact that solar prices have also dropped in that same timeframe, you are getting more solar electricity for less upfront, resulting in lower installation costs and significantly reduced payback periods.
It is an industry standard for solar panels to come with a 25 year warranty, so if your payback period is close to the average of 8 to 10 years, that is still 15+ years of profit provided by your solar PV system!
Solar Panels Increase the Value of Your Home
Energy savings, financial savings, and a reduced carbon footprint are all enticing to many prospective homebuyers in the greater Denver area, and they are often willing to pay a little more for it. Homes that have integrated solar energy can sell for 4.1% higher than homes without solar, so if you decide to move you can recoup much of the cost of installation (depending on the size of your system and your home).
Denver’s Solar Installation Company
No two cities will have the exact same solar energy potential, and neither will any two homes. Understanding the intricacies of what makes a solar PV system successful here in Denver requires local expertise. At CAM Solar, we have installed every kind of system, from a traditional grid-tied solar PV system to solar plus storage and off-grid systems, including Tesla Powerwall. If you are looking for the best solar installers in Denver and a Tesla Powerwall certified installer, we’d love to show you why you’re in the right place, at CAM Solar.
It all begins with a free solar quote to learn how large of a system you might need, what your installation costs will look like, how much energy you might save, and how you can utilize the many rebates and incentives to further reduce your upfront expenses.