What to Know About Colorado Solar Panel Program and Incentives

As a Colorado resident, you’re aware of how important it is to pay attention to our natural resources. You’ve always wanted to use green energy in your household, but it was out of your price range.

Solar panel installation can cost thousands of dollars. You simply didn’t have the money to pay out of pocket.

But with more than 300 days of sun in our state, solar power is a smart investment. And Colorado has worked to make it affordable for residents. Let’s look at how the solar panel program makes green energy an affordable option for you.

Why Solar Energy?

Renewable energy has been a hot topic in the news for years. Colorado has some of the best sustainability policies and has led the nation in the use of solar power.

The black panels you see on roofs are made of solar cells that convert sunlight to electricity. The price of these panels has decreased in recent years, making it more affordable for your average person. Solar power is one tool we can use to create a more sustainable future.

But if reducing your carbon footprint isn’t enough of an incentive, there are monetary benefits to using solar energy.

Financial Incentives

One of the biggest incentives for going solar is the federal tax credit. In 2020, the tax credit was 26 percent of the cost of your system, and in 2022 it will fall to 22 percent. The sooner you invest in solar power, the higher your tax credit will be.

Another great incentive for going solar is net metering. In this billing mechanism, you are paid for energy you add to the power grid. Sometimes this can result in a profit if you create more energy than you use.

Colorado requires utility companies to pay you for any extra power that your solar power system generates. This may come in the form of cash or credit toward your future bills.

Due to state requirements, many utility companies will give you a rebate for installing solar panels. Companies have certain requirements for the amount of renewable energy on the power grid. This means they want to help people get solar energy.

Above all, going solar will save you money on your energy bills. Rather than relying on your local utilities, you’ll use the sun to power your home. You can calculate your energy cost savings at https://blueravensolar.com/colorado/

Financial Assistance for Solar Panel Program

Several cities have created programs to make solar panels affordable for low-income households. Households in Boulder making less than $82,000 a year may qualify for a grant. This grant can cover up to half of the costs of solar panel installation.

Fort Collins offers a loan program as well. Your city may offer financial help for solar panels. Ask your installation company for more information.

Take Advantage of Solar Energy

The solar panel program seeks to make green energy affordable and efficient for everyone in Colorado. Get your solar panels and take advantage of the incentives today.

Are you interested in solar energy and modern technology? Check out our tech section for more.

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