Many Colorado residents are interested in reducing their energy usage while in turn helping the environment. It’s for these reasons that so many Colorado homes have solar panels on roofs.
The Basics of Solar Power
Solar panels capture pure and clean energy from the sun. By installing a solar roof, you reduce your dependence on fossil fuels, which is proven to be bad for the environment. Solar energy is both cost-effective and eco-friendly, making it one of the best investments a homeowner can make. Solar panels can save you money by reducing or eliminating your energy bills and enable you to live “green.” Using solar energy compared to fossil fuels, you help conserve limited resources and do your part to protect the earth for future generations.
As more homeowners in Colorado convert to solar power, they also reduce the strain on local power grids. Depending on your energy production, you may be able to sell surplus electricity, so even people who do not have solar panels can still take advantage of this clean energy source.
Solar is also known as photovoltaic energy. The photovoltaic system’s actual energy output will depend on several factors, including location and incline of the system, plus temperature and shading conditions. It is important to factor a good design to achieve maximum benefit.
Reducing or Eliminating Your Monthly Energy Bill
We need power for heating, lighting, cooking, and many other tasks. Solar panels offer the ability to reduce or eliminate energy bills as you tap into the unlimited power of the sun. Since solar panels can last for decades, and in some cases, are available with no money down, solar panels may free you from high utility costs.
Most solar panel systems have no moving parts and are highly reliable with minimal homeowner effort. Solar manufacturers typically offer 20-year warranties or longer, and panels can last many years beyond the official warranty period.
The following are essential steps to consider before signing any contract with a solar company and installing the panels.
- Determine whether your shingle roof (or other location) can support solar panels. Factors to consider are the size of panels, sun exposure, and the condition of your roof. If your roof may need to be replaced soon, you should address this before adding solar.
- If you live in a neighborhood community with a Homeowners Association (HOA), it will be essential to confirm whether the HOA accepts solar and whether any installation plans are required to be submitted for approval.
- Investigate solar-friendly programs to learn the eligibility that pays you for any surplus electricity your solar panels generate.
- Find a reputable solar installer. There are many solar companies in Denver, Colorado, and throughout the United States. Do your research to contract with the one that has earned a solid local reputation.
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3 Questions Homeowners Commonly Ask
Will solar power increase the value of my home?
Typically, yes. Most homeowners with solar systems receive their investment back in energy savings within ten years. Additionally, a home with a solar roof will have a higher resale value.
Should I buy or lease?
It depends. Leasing the solar system means another company installs your system, and you essentially rent it from them. The other company, the owner, keeps federal, state, or federal credits – so you miss out on any financial benefits of ownership. The advantage of leasing is that you’re not paying for the whole system upfront.
If you need your roof replaced following a hailstorm, and insurance will cover the costs, your solar panels’ detach and reset will be included in the insurance claim; it does not matter if you own or lease the solar panels.
Will I receive a tax break for owning a solar system?
Yes. The Federal Investment Tax Credit (ITC) covers 26% of the total cost to include labor and materials for systems installed in 2020. This incentive drops further to 22% in 2021 and then 10% starting in 2022. Local and state rebates may also be available, offering an additional financial incentive.
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