With an average of 300 days of sunshine a year, homes in Colorado are some of the best candidates in the country for solar panels. Like any large purchase, having a knowledgeable local expert to help you make an informed decision is key. The first step is setting up a consultation to see if a solar system is right for you and your home. “We want to make it as easy as possible to become a power owner and not a power renter,” says Duane Amado with Mile High Solar.
Investing in a residential solar system can be compared to purchasing a home when you have been renting. Rising electric costs have been a major topic of conversation, and rates typically rise 4% - 12% each year.
Installing a solar system will lower your electric bill, avoid increasing costs of electricity, and increase the value of your home. The panels themselves are very durable and require little maintenance. Local electric companies might offer incentives and two federal programs can lower the initial cost of installation. The Sales and Use Tax Exemption for Renewable Energy Equipment prevent purchasers of solar systems from having to pay sales tax. Net metering allows homeowners to get credit for excess solar that is generated and “banked” during summer months and then can be used on cloudy winter days, for example.
The Property Tax Exemption for Residential Renewal Energy Equipment means that homeowners won’t have to pay property tax on the increased value of a home as a result of installing a solar system.
The federal incentive can reduce your federal tax bill by up to 30% depending on when the solar system was or is installed.
A local expert can guide you through what permits are needed, getting approval from your HOA, and the best type of panels for your home. A company that offers the best equipment and panels and also has them in stock is also something to look for so installation can take place in a timely manner.
For more information: milehighsolar.org/ 303-736-9276
"We want to make it as easy as possible to become a power owner and not a power renter.”