Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, decreasing your monthly electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to Security-Widefield Homeowners?
Colorado homeowners who go solar could qualify for tax credits, rebates, reimbursements and special financing. Here are just a few of the region's incentive programs.
Incentive Type: Property Tax Incentive
Website: cdola.colorado.govIncentive Amount:
100% exemption for renewable energy system property
Incentive Type: Sales Tax Incentive
Website: tax.colorado.govIncentive Amount:
100%
Incentive Type: Rebate Program
Website: energysmartcolorado.comIncentive Amount:
Residential
PV: 50% up to $500
Solar Thermal: 50% of project costs
Commercial
50% of project costs
Incentive Type: Sales Tax Incentive
Website: bouldercolorado.govIncentive Amount:
~15% refund on sales and use tax for the solar installation
Incentive Type: Rebate Program
Website: energysmartcolorado.comIncentive Amount:
PV: 25% of cost
Solar Water Heat: $25% of cost
Solar Thermal Tune-up: 25% of project cost
Micro-hydro and Geothermal: 25% of cost
Incentive Type: Property Tax Incentive
Website: cdola.colorado.govIncentive Amount:
100% exemption for the percentage of electricity capacity (AC) of a community solar garden attributed to residential or governmental subscribers or organizations that are already exempt from property taxes
Incentive Type: Sales Tax Incentive
Incentive Amount:
Varies (local option)
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies (local option)
Incentive Type: Rebate Program
Website: efficiencyworks.orgIncentive Amount:
Air Sealing: $300-$500
Insulation: Up to $1,815
Duct Sealing: $200 (gas-heated homes only)
Window Replacement: Up to $1,000
Air Handler Blower Motor: $150
Whole House Mechanical Ventilation: 20% of cost
Heat Pumps: $500
Replacement Furnace: $300-$500 (gas-heated homes only)
Ductless Mini-Split: $250/head
Replacement Gas Boiler: $300 (gas-heated homes only)
Replacement Water Heater: $100-$500
AC System: $150-$500
Whole House Fan: $275
Evaporative Cooler: $500
Incentive Type: Loan Program
Website: colorado.govIncentive Amount:
$35,000
Incentive Type: Loan Program
Website: colorado.govIncentive Amount:
$250,000
Incentive Type: Loan Program
Website: energysmartcolorado.comIncentive Amount:
$25,000
Incentive Type: Performance-Based Incentive
Website: blackhillsenergy.comIncentive Amount:
Systems sized 0.5 kW - 30 kW: $0.030 per kWh is paid over a 10-year period
Systems sized 30.001 kW - 500 kW: $0.060 per kWh is paid over a 10-year period
Incentive Type: Rebate Program
Website: csu.orgIncentive Amount:
PV: $0.10 per watt
Incentive Type: Rebate Program
Website: csu.orgIncentive Amount:
Electric Dryers: $50
Natural Gas Furnace: $250
Natural Gas Water Heater: $50
Insulation & Air Sealing: 40% of job cost, up to $200
Refrigerator/Freezer Recycling: $50
Smart Thermostats: $50
LED lighting: in-store discounts
Irrigation Equipment: Up to $50
Solar Panels: $0.20 per AC Watt
Incentive Type: Rebate Program
Website: blackhillsenergy.comIncentive Amount:
Air-Source Heat Pump: $250-$650
Heat Pump Ductless Mini Split: $300
Central A/C: $250-$550
Ground Source Heat Pumps: $1,500
Evaporative Cooler: $100-$1000
Heat Pump Water Heater: $500
Attic Insulation: $0.35/sq. ft.
Wall Insulation: $0.65/sq. ft.
Air Sealing/Duct Sealing: 50% of cost
Appliance Recycling: $50
Incentive Type: Rebate Program
Website: mvea.coopIncentive Amount:
Residential Lighting
Energy Star LED Bulbs: 50% of cost
Residential Appliances
Refrigerator/Freezer: $30/unit plus $60/unit if recycled
Dryer: $30-$90
Clothes Washer: $30-$40
Dishwasher: $20
Water Heater: $50-$350/unit
Marathon Electric Water Heater: $200/unit plus $2/gallon
Air Conditioner: $100-$150
Geothermal Heat Pump: $500/ton
Geothermal Heat Pump Replacement: $250
Thermal Storage: $16-$20/kWAir Source Heat Pump: $300-$450/ton
Packaged Terminal Heat Pump: $85/unit
Commercial Lighting
LED/Induction Street Lighting: 25% of cost
LED Refrigerated Case Lighting Retrofit: 50% of cost
Other Lighting Incentives: Vary, see program website
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Security-Widefield
The more comprehensive your company research is, the better your solar installation will ultimately operate. Consider each of these elements in your business search.
Licensing and Training
While electricians and plumbers in Colorado have state-issued licenses from the Colorado Electrical Board or Colorado State Plumbing Board, counties and cities can issue their own solar professional if they choose. Solar installers can also pursue accreditations from standards organizations and trade groups. The most prestigious ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Security-Widefield
Your photovoltaic panels' style will influence how much electricity you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you'd like to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By selecting the right components, you can make your system more effective and user-friendly. Not every solar contractor offers these optional components, so look for a contractor that sells them if it's a priority for you.
Generally speaking, it costs about $19,900 for a five-kilowatt solar array in Security-Widefield. This table lists more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,148 |
Solar Polycrystalline | $895 |
Thin-Film | $523 |
Solar Battery | $735 |
Solar Home EV Charger | $2,755 |
Financing Solar Energy in Security-Widefield
There are a plethora of ways to pay for a solar energy system, and the right one will reduce your expenses. A few of the most common options include cash payments, leases, power purchase agreements (PPAs), and loans. Though it requires a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in particular circumstances. We recommend working with a company that offers multiple financing options. Talk to each consultant about what's available, and secure more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Security-Widefield.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.8 years |
2 kW | 3.6 years |
5 kW | 8.9 years |
10 kW | 17.8 years |
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Frequently Asked Questions About Solar in Security-Widefield
How much money could I save by going solar in Security-Widefield?
Is solar energy widely available in Security-Widefield?
Should I anticipate a boost in my property value after switching to solar energy?
Could I still use solar power if I live in a rainy, wooded, or dark area?
How do I care for my new solar system?
What size should my new Security-Widefield solar system be?
What's the difference between a PPA and traditional financing?
You might think about a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
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