Are you a Denver homeowner, business owner, or Colorado real estate investor looking to save on energy costs while helping the environment? If so, a solar energy system may be an option worth considering.
Fortunately, there are plenty of incentives and tax credits available in Colorado to make going solar easier than ever. In this blog post, we’ll take a look at six important things you need to know, such as the federal solar tax credit, when planning your transition to eco-friendly energy solutions. Whether it’s reducing total expenses for a residential installation or increasing savings for commercial investors—we have all the info you need to get started. So let’s dive in!
Solar Costs Have Dropped: The Perfect Opportunity to Switch to Clean Energy is Today!
One of the biggest hurdles to switching to solar energy has always been the cost. But today, we have good news for homeowners and business owners alike: prices have been dropping steadily over the years, making a solar energy systems more affordable than ever! What used to be a costly investment has become an easy decision for those who want to save money and switch to green energy at the same time.
Solar power isn’t just cost-effective; it also helps our planet by reducing our carbon footprint. By harnessing the power of the sun, we can generate electricity without using up non-renewable resources like coal, oil, and gas. A solar panel system can even help you save on your energy bill and reduce your dependence on grid power. Keep reading to learn more about the amazing benefits of solar energy and how it can save you money in the long term.
Solar Panels Are Cheaper Than Ever Before
Solar costs have dropped significantly over the last decade. One of the reasons behind this trend is the widespread adoption of the technology, in that there is no longer a monopoly on solar power systems due to the newness of the technology. In fact, according to the Solar Energy Industry Association (SEIA), the price of going solar has decreased by 53% over the last ten years.
Solar panel manufacturers have also become more efficient, using less material and reducing production costs. Plus, today’s solar panels can produce more energy than ever, so you need fewer panels to power your home.
Moreover, solar panels last for a long time – up to 25 or even 30 years. Once you invest in a solar panel system, you can enjoy the benefits of clean energy for years to come.
Solar Energy is Good for the Environment
Most of us are aware of the negative effects of using non-renewable resources for electricity generation. Fossil fuels are extremely destructive to the environment, releasing greenhouse gases that contribute to climate change. Moreover, fossil fuels also take a toll on our health and well-being.
Solar energy, on the other hand, is an eco-friendly alternative that can help you reduce your carbon footprint. Switching from traditional electricity to solar power can help reduce your own greenhouse gas emissions for the length of your system’s lifespan.
According to an article published by the Columbia Climate School, “an acre of solar panels producing zero-emissions electricity saves between 267,526 to 303,513 pounds, or 121 to 138 metric tons, of carbon dioxide per year. By comparison […] the average acre of forest in the United States sequesters 0.84 metric tons of carbon dioxide per year. Thus, an acre of solar panels in Virginia reduces approximately 144 to 166 times more carbon dioxide per year than an acre of forest.“
A Solar Energy System Helps You Save in the Long-Term
Solar energy is an investment that pays off in dividends over time. Unlike traditional electricity, which keeps getting more expensive over time, solar energy is practically inflation-proof. The cost of a solar system will be offset by your savings on your monthly electricity bills.
Moreover, the government offers tax incentives and rebates, such as the federal solar tax credit, when you install solar panels in your home or business. The best solar incentives help offset the initial cost of installation, making solar power more affordable than ever.
A Solar Panel System is Easy to Install and Maintain
Finally, installing a solar system is much easier than most people assume. A qualified solar company can get the job done in a day or two with very little disruption to your daily life. It barely requires maintenance, and panel repairs can often be completed by the same people who install them. You can expect your solar panel system to last many years with very little upkeep.
The Solar Savings Start at Installation
In conclusion, we have to say: there’s never been a better time to switch to solar energy! With prices dropping and technology rapidly progressing, it’s a smart investment that can save you money and help you reduce your carbon footprint.
Whether in your home or your business, a solar power system is a worthwhile investment that will help you achieve energy independence and contribute to a healthier planet. So don’t wait any longer – get in touch with a qualified solar company today and take the first step towards clean energy!
The Solar Tax Credits and Incentives Available in Colorado
Homeowners are often curious about the federal government and state tax credits and incentives.
Has the federal solar tax credit timeline been extended?
Does Colorado have its own state tax credits that are applicable for green energy?
What about my local utility companies? Do they offer rebates and net metering programs to further offset the cost of solar?
We can’t wait to get started answering these questions.
The Federal Solar Tax Credit
The federal solar tax credit is more specifically known as the residential clean energy property credit. The December 2022 fact sheet from the IRS describes it as a “30-percent credit for certain qualified expenditures made by a taxpayer for residential energy efficient property.”
Initially, the federal solar tax credit was set to expire in 2022, but much to many’s delight, it has been extended to 2034, even making battery storage an eligible expense. The same IRS document shares that, “The credit applies for property placed in service after December 31, 2021, and before January 1, 2033. The credit percentage rate phases down to 26 percent for property placed in service in 2033, 22 percent for property placed in service in 2034, and no credit is available for property placed in service after December 31, 2034.”
While that may seem pretty clear, those who are federal tax credit savvy might have more questions. Intuit TurboTax elaborates by saying that the federal solar tax credit “can offset your income tax liability dollar-for-dollar, but any excess credit won’t be refunded. If the credit exceeds your tax liability for the year, you can ‘roll over’ the unused portion to future years so long as the credit remains in effect.” Don’t forget that federal tax credit tip in the 2024 tax season!
Maximize Your Colorado Solar Incentives
Solar energy provides a wealth of benefits, including significant savings on your electricity bills and a reduced carbon footprint. The availability of solar tax credits and incentives is a motivator to make the shift, so let’s consider what the Centennial offers.
1. First, we cannot underestimate the power of working with an experienced solar provider who can help you to take full advantage of all available state and federal tax credits and incentives to maximize your savings and achieve the full benefits of solar energy.
2. Colorado offers a property tax exemption for owned residential renewable energy systems located on your owned property as long as it is within the reasonable limitations the Colorado Department of Local Affairs put in place.
3. Colorado is also one of 25 states to not dictate sales tax on purchasing a renewable energy source.
4. Xcel Energy offers three options for renewable energy users: offsetting, net billing, and independent. These three Colorado solar incentives offer unique solutions for any residential clean energy goals.
5. Black Hills Energy also offers a net billing option, making sure that Black Hills will properly pay out excess solar energy produced by your residential clean energy solution.
6. Energy Smart Colorado, the City of Denver, and Holy Cross Energy are other localized programs offering financial incentives to go solar.
Other States Who Offer Solar Incentives
Many states throughout the United States offer incentives for homeowners and businesses who decide to install solar panels. These incentives can help reduce the cost of installation and maintenance, making it easier for people to make the switch to renewable energy sources. From tax credits and rebates to net metering policies and grants, various solar incentives are available in states outside of Colorado.
It may come as a surprise to learn that New York is reportedly the best place to be when going solar! EcoWatch shares that on top of the federal solar tax credit, they offer the NY-Sun Megawatt Block Incentive, New York solar energy system equipment credit, sales tax exemption, property tax exemption, net metering, local incentives, and statewide residential financing options!
Massachusetts follows suit with a statewide solar tax credit, multiple tax exemptions, and programs such as SMART that pay owners back per kWh generated over ten years. Despite Colorado’s emphasis on healthy living, they actually don’t even hit the top 9 states for best solar incentives.
The Most Popular Types of Systems to Install for Residential Homes
When it comes to residential homes, there are a variety of solar systems that homeowners can choose to install. The most popular type of system is rooftop solar panels; however, solar flowers and ground-mounted solar panels might also be common in your area, depending on local HOA regulations and your available acreage. Rooftop solar panel systems are made up of three primary materials: monocrystalline, polycrystalline, and thin film. With so many options available, homeowners must consult to find the right systems that fit their individual needs.
Ways to Learn More About Colorado Solar Incentives and Other Tax Credits
If you’re a Colorado resident or business owner looking to save some money on taxes, there’s no doubt that you’re interested in the incentives and credits available in the state. Fortunately, there are plenty of resources available to help you learn more about these valuable opportunities.
The Colorado Department of Revenue is a great place to start – they have detailed information on all the current solar tax incentives and credits and instructions on how to apply for them. Additionally, several nonprofit organizations and business associations throughout the state offer seminars, webinars, and other resources to help you navigate the somewhat complex world of tax incentives and credits. With a little bit of research and effort, you can take advantage of these savings opportunities and keep more money in your pocket.
Don’t Go Solar Without Being Prepared to File for the Federal Solar Tax Credit
Making the switch to solar power is an incredible way to reduce your carbon footprint and get access to valuable tax credits and incentives. While receiving solar tax credits in Colorado can be an involved process, knowing the basics – like how a solar tax credit works or what other states offer these incentives – can help you get started on the path of residential clean energy.
From there, when considering whether to install rooftop or ground–mounted systems for your residential home, utilizing helpful resources like nonprofit organizations or researching local rebates can ensure that you find programs that will maximize your savings as much as possible. With all of this knowledge on hand, investing in renewable energy through solar power starts with understanding what options are available and how they work.
Choosing the Right Solar Company for Your Project
There has never been a better time to invest in solar power for your home or business. Rooftop panels are more efficient and affordable than ever before, and they offer a range of benefits, from reducing your energy bills to increasing the value of your property and temporarily offering a hefty federal tax credit.
However, before you can start enjoying the benefits of solar power, you need to make sure you have the right roof for your solar installation. That’s where Peak to Peak Roofing and Exteriors comes in. Here are six reasons why you should choose Peak to Peak for your solar project, starting with the right roof.
We specialize in roofing
Unlike many solar contractors who dabble in roofing, or roofers who offer solar as an add-on service, Peak to Peak specializes in both roofing and solar installation. This means we know exactly what kind of roof is best suited for solar panels, and we have the expertise to assess the condition of your roof and ensure that it’s ready for installation.
We use high-quality roofing materials
The key to a successful solar installation is a strong, stable, and reliable roof. That’s why we use only top-quality roofing materials and products from trusted brands like GAF, Owens Corning, and CertainTeed. Our team of skilled and experienced roofers will work with you to choose the best roofing material for your needs and budget, whether it’s asphalt shingles, metal roofing, or tile roofing.
We offer customized solar solutions
At Peak to Peak, we understand that every home and business has unique solar needs. That’s why we offer customized solar solutions that are tailored to your specific energy requirements, site conditions, budget, and aesthetic preferences. Whether you’re looking for a grid-tied or off-grid system or a particular brand of solar panels, we can help you find the right solution.
We provide comprehensive support
Installing a solar power system requires more than just mounting it on your roof and connecting it to your electrical system. You need to obtain permits, arrange inspections, and comply with safety and building codes. At Peak to Peak, we take care of all the paperwork and logistics for you, so you can focus on enjoying your clean, renewable energy. We also provide resources for ongoing maintenance and support to ensure that your solar system performs optimally for years to come.
We are committed to sustainability
At Peak to Peak, we don’t just talk the talk; we walk the walk. We are committed to promoting sustainability and reducing our carbon footprint in everything we do. That’s why we are looking into the longevity of eco-friendly roofing and solar products, such as cool roofs, recycled roofing materials, and high-efficiency solar panels. We also use sustainable practices in our operations, such as recycling materials and reducing waste.
We deliver exceptional customer service
At Peak to Peak, we believe that the customer comes first. That’s why we strive to provide exceptional customer service from start to finish. We listen to your needs, answer your questions, and keep you informed every step of the way. We also provide transparent pricing so you know exactly what you’re paying for, and we stand behind our work with strong warranties and guarantees.
Let Peak to Peak Put Your Solar Power System on the Schedule Today
Investing in solar power is a smart decision for both your wallet and the planet. But before you can enjoy the benefits of solar energy, you need to choose the right contractor for your solar project. By choosing Peak to Peak Roofing and Exteriors, you can be confident that you’re getting the best possible service and quality for your investment. Whether you’re a homeowner or business owner, we’re here to help you every step of the way, from choosing the right roof to installing your solar panels and beyond. Contact us today to learn more about our roofing and solar services and to get a free quote.