Solar panels have a number of benefits, first being a source of renewable energy. Using sustainable, renewable energy allows you to make a difference in helping the environment. Putting solar panels on your home means you are contributing to the greening of your home and helping reduce your carbon footprint.
This is a great time to have solar panels installed on your roof. If you live in the Xcel Energy market, you can receive Renewable energy Credits to help offset the cost of installing panels on your home. If you live in other areas, you may be eligible for a rebate from the Governor’s Energy Office (GEO). Living in Colorado is great because Colorado cares about the environment we live in and wants to help consumers take care of it. In addition to the local utility and state rebates, you can also qualify for a federal tax rebate.
The installation of a PV Solar System will reduce your energy costs more and more. As energy prices increase from year to year, your savings will be greater and greater with each passing year.
If your system generates more electricity than you can utilize at that particular time, your excess power goes back to the grid and your meter actually goes backward.
Because residential utility companies are dependent on fossil fuels such as oil, coal and natural gas, they are vulnerable to volatile markets. Switching to solar power, you are betting against rising utility rates and volatile fossil fuel markets. As electricity rates continue to rise, your savings continues to grow because you were smart enough to lock in your rates with solar power.
Home Owners Associations and Neighborhood Covenants:
Remember that because of state and city laws, your covenants or HOA cannot prevent you from having a solar system. Check with your local county to see if they have specific solar or green friendly laws.