Solar panels are hugely popular now in Colorado and all over the country. Solar panels are a great alternative to other energy sources saving you money and saving the state's resources. If you have ever wondered if they were a good fit for you E3 Power hopes to give you a little more clarity.
Pay Close Attention To Your Electric Bill
The first investment toward solar panels seems high but as long as you have a high enough monthly pay off than the investment is worth it. Evaluate your electric bill during winter and summer months and keep records. You can use this information to compare to your initial investment cost and other expenses you will incur with solar panels.
The higher your electric bill the more you will save. You will find that sourcing your energy from the sun will lower your bill drastically and could even eliminate it.
Evaluate Your Home’s Sunlight Exposure
Is your home exposed to a lot of the sun’s rays or is it in a densely wooded forest? This right here is a make or break for some homeowners due to the location of their home. Colorado is sunny at least 300 days of the year making our state that prime for solar panel possibilities.
Does your home face toward or away from the sun and is your roof a good candidate for solar panel installation? Some will find that they would rather do some upgrading to their roof to be more eco-friendly but if that’s not the case your roof could make or break your decision. There is a calculator online that will tell you the efficiency of solar panels in your area, look for Solar Estimate Calculator.
Solar Tax Credits and More Incentives In Colorado
One of the perks of going green is the “green” you earn in return and Colorado is making it easier and easier for you to take advantage. The Colorado government is offering significant tax breaks for installing alternate energy sources. If you install your panels by December of 2019 you can claim 30% of the cost to install them with small decrease every year after that.
Many people will get a loan to install their initial system and in some cases, the cost is the same as your monthly electric bill. If you decide this is the right choice for you, you can receive the benefit just by being the owner of the solar panel system. Save your receipts, at the end of the year, you will be able to apply for the tax credit when you file your taxes.
There are not too many reasons to forgo solar panels unless you just cannot afford the initial set up or your site does not allow ample sunlight to store energy. Solar panels are a great investment for your wallet and the environment. We do recommend that if it is something that you are seriously considering to do it before December of 2019 to take advantage of the highest tax credit.
Remember, only owners of their solar panel system can take advantage of the credit. Some companies will lease them to you because it may fit into one’s budget better, but if you do this you can not take advantage of the government incentives.
We Would Love To Hear From You
The team at E3 Power is happy to help you with all your household and business energy solutions. We provide a range of services from energy audits to insulation consultations. If you have any concerns about your home or business give us a call today.