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3 Steps to find out if Solar is right for you!

Three Steps to find out if Solar is right for you!

As we watch our electricity rates rise, and the cost of solar panels decrease, solar installation seems like the obvious choice for most homeowners. Besides being the environmental and green choice the key question remains: Will switching to Solar save you money? We outline some simple steps to take to analyze if solar panels make sense for your Colorado home.

Step 1

The first step is to take a good look at your electric bill. Solar panels generate their own power, and have the potential to greatly reduce or even completely eliminate your monthly electric bill. The higher your electricity bill, the more likely you will benefit from a switch to a solar power system.

Step 2

The second step is to evaluate your homes sunlight exposure. In Colorado, we benefit to over 300 days of sunshine annually. This makes our state a prime candidate for great solar potential. Take a look at how your house is oriented towards or away from the sun. Do you have a roof that would lend itself well to solar panel installation? You can use the Solar Estimate Calculator to estimate the efficiency of solar panels in your area. You must simply enter your address, utility company and the average cost of your monthly energy bill.

Step 3

The third and maybe most important step is to look for Incentives. The government offers homeowners significant incentives for installing solar panels as an alternate energy source. For example, a residential federal tax credit allows taxpayers to claim 30% of installation costs for systems placed in service by Dec. 31, 2019. The credit dwindles to 26% in 2020 and 22% in 2021, and expires Dec. 31, 2021.

Overall, the amount you pay for the loan to purchase the system is close to the amount you are currently paying for your electricity. Every home is different, but there are plenty of options to find the path that works best for you. It does not end up being a large up-front cost.

Call Go Green Electric Inc today for more information. (303)731-5198