17 Best Solar Companies in Colorado Springs, CO (Oct 2022 Review)

The Cost and Benefits of Solar in Colorado Springs

Even though solar panels can help save you a good amount of money on energy bills over time, it's important to take into consideration the startup costs. There are several factors you should consider when trying to determine the overall cost and how much you can save, such as:

• Average daily sunlight: Since Colorado Springs gets lots of sunlight, your solar panel system will most likely be able to produce enough energy to power your whole home, which influences how much your solar panels can save you on your electricity bills.
• The model of solar panels you want: Some are more costly, so that will affect your budget for your solar project.
• average energy usage: The more energy your home consumes on average and the greater your current energy bills are, the more likely you'll benefit from going solar.
• Incentives: One thing that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save money on your energy bills, which can give you an average of $23,000 of savings over 20 years.

Solar is a rewarding investment for most homeowners. You can generate your own electricity instead of paying for it from a utility company and take advantage of solar incentives, all while helping the environment.

Solar Incentives in Colorado Springs

There are many good reasons why going solar is a great investment. One of them includes some government incentives you can take advantage of. When you install a solar panel system on your home, you can take advatage of the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Additionally, there may often be some state and city incentives that you can take advantage of to further cut back on the cost of solar of solar panels. For detailed information about local incentives, see the table below.

Environmental Impact of Switching to Solar in Colorado Springs

An important reason so many people are considering adopting solar energy is to help reduce their environmental impact. But you may be wondering — how much exactly can you help the planet by using solar power? According to the EPA, electricity production is the second biggest source of greenhouse gas emissions and about 62% of our electricity comes from burning fossil fuels. Switching to a clean energy source like solar power can help bring down that statistic in a city like Colorado Springs that accounts for a large amount of carbon dioxide emissions each year. Even though solar panel manufacturing emits carbon dioxide, the panels make up for it by considerably reducing the amount of CO2 you would have been responsible for if you still used nonrenewable energy. In Colorado Springs, you can reduce your carbon footprint by 100 pounds a year with solar panels. For those who are concerned about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.