15 Best Solar Companies in Greenwood Village, CO (Oct 2022 Review)

The Cost and Benefits of Solar in Greenwood Village

Even though solar panels can save you a good amount of money on electricity bills over time, it's important to know the upfront costs. A few important factors that determine the cost of installing a solar panel system on your home and how much money you could save over time are:

• How much energy costs for you: The average household in Greenwood Village pays around $1,100 a year on energy alone, so you could end up with that much in savings.
• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 30% of the project cost. Your state may also have incentives and rebates that you can take advantage of. Additionally, you can save about $20,000 over 20 years on your utility bills, before factoring in incentives.
• The amount of sunlight your house gets: Because of Greenwood Village's very high amount of average daily sunlight, you should be able to save a lot on your electric bills.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.

There are lots of good benefits of solar despite the upfront cost of installation. It can help the environment and your finances. Plus, it can boost the value of your home, giving you even more benefits if you choose to sell your home later.

Solar Incentives in Greenwood Village

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you much money in the long term because of reduced energy bills and government incentives. In addition to the federal tax credit incentive, there are also some state- and city-level incentives, which in almost all cases, stack with the federal incentive, so you can save even more. You can find out about the incentives you can take advantage of in our article on solar incentives

Environmental Impact of Switching to Solar in Greenwood Village

Going solar can have a positive impact on the environment. Something many might be wondering about is how much can they really help save the environment by going solar anyway? As reported by the EPA, electricity generation is the second greatest source of greenhouse gas emissions and about 62% of our electricity is produced by burning fossil fuels. Using solar power can help bring down that number in a city like Greenwood Village that is responsible for a large amount of carbon dioxide emissions each year. Although making solar panels releases carbon dioxide emissions, the panels make up for it by significantly reducing the amount of CO2 you would have been responsible for if you still used traditional energy. In Greenwood Village, you can reduce your carbon footprint by 100 pounds a year with solar panels. The great things about solar power are infinite — just like solar power is! That's why so many people have been happy with committing to solar.