Denver homeowners are in the best place to go solar. Colorado is at the forefront of the renewable energy revolution. The Centennial State legislature has already committed to 100% emission-free electricity by 2050.
Colorado is a shining example of green energy and the rest has followed suit. It’s not surprising that more homeowners are opting to use the sun’s energy to power their homes. You can harness the power and energy of the sun to create clean, sustainable energy. This will not only help you save money on energy but also protect your home from rising energy costs.
How much does a solar panel system actually cost? There is no single price for a solar panel system. The price you pay for a solar panel system will vary depending on the cost of electricity in your area, how big your system is, and how much you use.
We know homeowners feel more prepared financially if they have a rough idea of the cost. An average Denver homeowner will spend $30,000 on a residential solar system with 9 kilowatts (kW) of solar power this does not include tax credits or local rebates.
This average cost includes all parts.
- Solar panels
- Mounting equipment
- Inverters
- Conduit and other parts
- Installation labor
- Management of projects, including HOA approvals and permits, as well as inspections
The best part? Because of the recent rise in US solar installations, the cost to go solar is now lower than ever. Colorado’s forward-thinking state is focused on sustainability and offers many financial incentives to solar owners, particularly in Denver.
Find out how much you could save on your solar installation. We will be covering all the solar incentives that are available at the local, state, and federal levels for Denver homes.
Financial Incentives For The Future Of Solar
States and cities across the US want to move to renewable energy. To encourage homeowners to use solar power, the governments and utilities offer various tax breaks and incentives.
- Local rebates. States and cities offer financial incentives, including credits and rebates to lower the cost of solar energy. These incentives are only available to homeowners who live in the area.
- Federal rebates. Homeowners can deduct 26 percent of the cost for a solar panel install from their annual taxes.
- Manufacturer rebates. With the assistance of manufacturers, you might be eligible for rebates to offset the cost of your install.
- You can lower your installation costs by purchasing at the right time.
Save Money With Local Incentive
The state of Colorado doesn’t offer a tax credit for solar installations. However, Denver homeowners have access to financial incentives and tax breaks that can lower the cost of solar.
- Net metering. A solar panel system is a reliable generator of electricity that can often produce more than what a home uses on a monthly basis. Colorado pays solar owners for the unused energy they provide to the power grid. The excess energy credit is simply carried over to the next month’s electric bill.
- Coloradoans have the right to an exemption from their property tax for solar power. This means homeowners can save money throughout the life of their solar system without any burden.
A Significant Way To Save
As one of the most important incentives to install solar, the Solar Investment Tax Credit (ITC), is the best. When you file your federal tax return, the 26% solar investment tax credit is available to you if you have a solar energy system. This credit will continue at the same rate until 2023, making solar power affordable for homeowners across the country.
Promotions Save Money
You can reduce your solar panel cost even more! ESD Solar offers many promotions throughout the year that will help you save money on your solar panel installation. To learn more about our current promotions, contact us
Denver Solar Installers You Can Trust
There are many reasons solar panels in Denver are worth the investment. There are so many financial incentives to help you make the switch.
We’re here for you if you are ready to get involved in the solar revolution. Our team of solar experts will evaluate your energy bills, assess your sun exposure, and give you an estimate on incentives and costs to help you decide what you should do for your Denver home. Call us today to schedule a consultation.
This post was written by Daniel Massaad, owner and expert solar technician at Energy Solutions Direct! ESD is the top choice for Solar companies in Colorado! Our licensed and certified contractors are masters of their craft; with years of experience servicing the great Tampa Bay area and beyond, the choice is simple. ESD excels at offering you the best in solar value!
