Solar Panel Installation Quote Colorado Springs CO

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Solar Panel Installation Quote Colorado Springs CO

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Average Cost Solar Panel Installations Colorado Springs CO

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Financing Home Solar Systems Colorado Springs CO

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Price of a Home Solar Power System Colorado Springs CO

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How does solar save you money?
Solar panel systems help you save money by reducing your monthly electricity bills. Although a $50 or $100 electricity bill might not seem like much when you pay it each month, those bills add up quickly over ten, twenty or even thirty years: if you pay $100 per month in electricity now, you’ll pay over $60,000 on electricity over the next thirty years!

Assuming a 3.4% annual increase based on inflation and average annual rate increases.

Installing solar allows you to reduce or even eliminate your electricity bill: when you pay upfront for solar panels, you are effectively paying today for the electricity you’ll use over the next 25 or even 30 years. Calculating your savings from investing in solar is as simple as subtracting the amount you pay for solar from what you would have paid for electricity otherwise. 

What factors influence how much you can save with solar?


There are three key factors that influence how much you can save with solar: how much you pay for electricity, how much you’ll pay for solar, and how you pay for your solar panel system (i.e., upfront, with a loan or with a lease or PPA).

Factor 1: How much you pay for electricity
Since the primary way that solar saves you money is by reducing or eliminating your monthly electricity bill, the amount you pay for electricity today heavily influences the level of savings you can obtain by going solar. One thing to think about: if you live somewhere with higher electricity rates compared to elsewhere in the country, your solar energy savings will be higher.

Factor 2: How much you pay for solar
The second part of the savings calculation is how much you’ll pay for solar. Importantly, federal, state and local incentives can all contribute to lowering the cost you pay for solar. From the Investment Tax Credit to solar renewable energy credit (SREC) programs, incentive and rebate plans can reduce the amount you pay for solar significantly. 

There are many other factors that influence the price you pay, but no matter your scenario it’s important to compare multiple quotes for solar so you know you’re getting the right system at a fair price.


Factor 3: How you pay for solar
There are three primary ways to pay for your solar panel system: a cash (upfront) purchase, a solar loan, and a solar lease or PPA. Each of these options provides different pros and cons. Generally speaking, you’ll save more on your electricity if you pay for your system upfront than if you pay for it over time with a loan or lease/PPA.

 

(Source: Solar Sage)

Frequently AskedQuestions

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What are the financial benefits of solar energy?

When you install a solar energy system on your property, you save money on your electricity bills and protect yourself against rising electricity rates in the future. How much you can save depends on the utility rates and solar policies in your area, but going solar is a smart investment regardless of where you live.

(Source: Energy Sage)

What happens if I sell my solar house?

In the case you own your solar panels, your solar residence will sell at a top rate: studies have shown that solar will increase property values. but, if you lease your system, that isn't the case. you may want to either purchase out your lease before you sell your home, or work along with your leasing agency to transfer the lease agreement to the home’s new owner.

(Source: Energy Sage)

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