renewable energy

Solar Now or Solar Later?

Solar costs have been steadily decreasing year by year, leading homeowners to wonder if they should invest in solar NOW, or wait and save money on the installation costs. The overall financial savings that installing solar will provide come from several different areas, which don’t all have to do with the initial install cost. 

Is now the right time to invest in your Solar Panel System?

The first cost associated with switching to solar power is the cost of the solar panel system. According, to Energy Sage the average 6-kilowatt residential system costs about $18,300 before taxes and rebates

If the current solar trend continues, the cost of the solar panels themselves may continue to decrease bringing your initial input cost down. This is a fact that cannot be counted upon, and may end up costing you more in the long term. Changes in government policies, tariff agreements, and overall natural disasters all have the ability to increase solar panel pricing. 

Another variable that will also affect your solar decision are the cost benefits you are missing while waiting to pull the trigger on renewable energy. First, you will still be susceptible to rising electricity costs from you power company.  Electricity costs have been steadily rising for the last few years, and customers are now searching for other options. The average US home spends $1,400 per year on electricity. By installing a solar system you would be able to eliminate this annual cost, and protect yourself from rising electricity rates for every upcoming year. 

The second variable that should affect your switch to solar is the the rising popularity of renewable energy. Currently, the federal and state governments incentivize home owners to switch to solar energy for the betterment of Americans as a whole. The current federal renewable energy tax credit is at 30%, but will start reducing after 2019. This is the LAST year to get the FULL federal renewable energy tax credit.  To take advantage of the full tax credit call us today at (303)731-5198 or fill out this form

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