Solar energy is the future and now is the best time to get on board. Solar is a renewable, clean, and abundant energy source. It helps to save homeowners thousands of dollars on their energy bills and protect the environment.
Interest in residential solar panels in the United States has never been higher. Around half of homeowners are seriously considering making the switch to solar.
If you are living in Colorado, how much could you stand to save on your energy bill by installing solar panels? In this blog post, we will look at the average savings for Colorado homeowners going solar.
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What Are the Average Savings From Going Solar In Colorado?
There is a number of factors that will determine the exact possible savings from solar panels in Colorado (which we will look at shortly). Let’s look at the average savings for an average-sized solar system in the state, which is 5.3kW. Firstly, the upfront cost minus tax credits is between $7,800 and $9,500.
The net profit, which represents the potential savings minus the system cost, is between $23,500 and $28,700 over the approximately 25-year lifespan of the solar panel system. The payback period of the upfront cost is between just 7 to 8.6 years. As you can see, there is scope for significant savings on your energy bills in Colorado with solar panels.
What Factors Determine the Average Saving Potential?
The first factor is the size of the solar system that you choose. As noted above, the average size in Colorado is 5.3kW, though depending on the size of your home and your energy needs, anywhere between 4kW and 8kW is normal.
Your home’s exact location plays a role in potential savings. Check out Google’s Project Sunroof for an estimate on savings using your home’s exact location. Naturally, the more sunlight that your home receives, the better for your solar panel system.
Other factors should be considered. These include the type of solar panel system which you choose (tier 1 systems are the best, for instance), specific state incentives, the solar panel installer (such as blueravensolar.com/colorado/solar-panel-installers-colorado-springs/), and the equipment type and manufacture.
All in all, you can expect excellent value from a residential solar panel system in the state of Colorado.
Average Savings From Going Solar In Colorado
Whether you are looking to save on your energy bills or play your role in protecting the earth in the battle against climate change (or both!), solar panels are a fantastic option. As this blog post shows, there is scope to save thousands of dollars over the 25-year lifespan of solar panels.
If you have been considering making the switch to solar energy, there has never been a better time than right now.
Did you like this blog post on the average savings from switching to solar energy in Colorado? If so, be sure to check out our other interesting articles on the rest of our blog today.