As a Denver homeowner, you’re likely all too familiar with the problem of electricity irregularities leading to power outages and high energy bills. The good news is, there’s a solution that can provide you with a constant, affordable power supply for your home or office: installing solar panels.
Solar panels have become increasingly popular in Denver in recent years, thanks to the city’s abundant sunshine, falling solar costs, and attractive incentives. As a long-time Denver resident who has helped many of my neighbors make the switch to solar, I can attest that going solar is one of the best investments you can make for your home and the environment. Keep reading to learn everything you need to know about solar panels in Denver in 2024, including costs, top companies, and money-saving tips.
Denver Solar Panel System Installation Costs in 2024
One of the first questions Denver homeowners have about going solar is: how much will it cost? The good news is that the cost of solar has fallen dramatically in recent years, making it more affordable than ever to install panels on your home.
As of 2024, the average cost range for solar panels in Denver is $6,000 to $27,000, depending on the size of your system. On a cost per watt basis, you can expect to pay $2.28 to $2.82 per watt for your solar installation.
Several key factors impact the total cost of your solar panel system, including:
- System size: Larger systems that produce more electricity will cost more. A typical 6 kilowatt (kW) system is a common size for Denver homes.
- Energy consumption: The more electricity you use, the bigger the solar system you’ll need to cover your energy needs, which will increase costs.
- Mounting and installation costs: Installing panels on more complex roofs with special mounting equipment can increase overall project costs.
- Roof type, age and orientation: The ideal roof for solar is south-facing with little to no shade. Older roofs or those made of certain materials may require additional work prior to solar panel installation.
To give you a more concrete idea of solar system pricing in Denver, here’s an example cost breakdown for a typical 5 kW system:
- Gross cost: $20,059
- Net cost after 30% federal tax credit: $15,430
As you can see, with the help of incentives like the federal tax credit, the cost of going solar becomes much more manageable for the average Denver homeowner. Keep in mind that the above prices are averages – your specific quote will depend on the unique features of your home and energy needs. Be sure to compare multiple quotes from different Denver solar companies to ensure you’re getting the best deal.
Solar Incentives, Tax Credits & Rebates in Denver
Another factor bringing down the cost of going solar in Denver is the abundance of incentives and rebates available to homeowners. Here are some of the top programs you can take advantage of to save money on your solar installation in 2024:
Federal Solar Investment Tax Credit (ITC)
The federal government offers a generous tax credit worth 30% of your total solar system cost. For example, if your system costs $20,000, you’d be eligible for a $6,000 credit on your federal tax return. The ITC is available for both residential and commercial solar installations. If the credit exceeds your tax liability, you can roll over the remaining amount to future years.
Colorado State Incentives
The state of Colorado offers several incentives to encourage solar adoption, including:
- Sales and use tax exemption on solar equipment: You won’t pay any state sales tax when purchasing your solar panels and other system components.
- Property tax exemption for residential renewable energy equipment: Your property taxes won’t increase as a result of the value your solar panels add to your home.
Local Utility & Government Rebates
Many Colorado utilities and local governments offer additional incentives for going solar. While the specifics vary by area, income level, and system size, some examples include:
- Xcel Solar*Rewards: Xcel Energy customers can earn rebates for installing solar based on the size of their system.
- Boulder and Colorado Springs rebates: The cities of Boulder and Colorado Springs offer rebates to residents that install solar on their properties.
Be sure to explore the specific local incentives available to you as you evaluate solar quotes from different providers.
Net Metering
Net metering is a billing arrangement that credits you for excess solar electricity your panels produce and send to the grid. Under Colorado’s net metering policy, you’ll receive credits on your utility bill for net excess generation, which can help offset your electricity costs. All investor-owned utilities in Colorado are required to offer net metering to their customers.
Factors to Consider When Installing Solar in Denver
Making the decision to go solar involves weighing several important factors, including:
Local Climate & Peak Sun Hours
Denver is an ideal location for solar thanks to its dry, sunny climate. The city gets over 300 days of sunshine per year – more than San Diego or Miami. This abundant sunshine means your panels will be able to produce ample electricity year-round. South-facing panels will capture the most sunlight and generate the most energy for your home.
Solar Panel Direction, Tilt & Shading
To optimize your solar system’s performance, it’s important to consider the direction and tilt of your panels, as well as any potential shading from nearby trees or buildings. Your solar installer will work with you to design a system that maximizes electricity production based on your roof’s unique features.
Financing Options & Budget
Going solar is a significant investment, so it’s important to evaluate your budget and financing options carefully. You can pay for your system in cash, take out a solar loan, lease your system from a provider, or sign a power purchase agreement (PPA).
Cash purchases and solar loans typically provide the greatest long-term savings and allow you to take advantage of incentives like the federal tax credit. Leases and PPAs require little to no money down but disqualify you from certain incentives. Discuss all of your options with potential solar providers to determine the best financing path for you.
Top Denver Solar Companies in 2024
If you don’t want to fix your solar system yourself, you need the services of the right solar companies. Here are some of the top local companies you can consider when shopping around in Denver:
1. Solar Side Up
Solar Side Up is one of the leading solar system installation companies in Denver, Colorado. They have a professional yet friendly team that ensures your solar system installation is perfect. Solar Side Up offers flexible financing plans as well.
- Location: 501 S Cherry St Ste 1100 #56, Denver, CO 80246
- Phone: (303) 271-0656
2. ARE Solar
ARE Solar is a solar company that provides state-of-the-art solar systems and high-end warranties at competitive prices. They specialize in helping people generate their own electricity and reduce their environmental impact through solar.
- Location: 1155 S Tejon St, Denver, CO 80223
- Phone: (720) 504-0005
3. Ecology Solar
Ecology Solar is well-known for its professionalism in communication and delivery. They offer complete solar system installations, as well as maintenance, reinstallation, removal, free assessments, and virtual consultations.
- Location: 4512 Vallejo St., Denver CO, 80211
- Phone: (720) 545-0829
4. Apex Solar Solutions
For a well-informed and responsive solar company, Apex Solar Solutions is a great choice. They provide excellent customer service and tidy delivery. With over 20 years of experience, they are one of the best in the industry.
- Location: 1101 E Bayaud Ave Floor 5, Denver, CO 80209
- Phone: (720) 207-9625
5. Vanguard Solar Services LLC
Vanguard Solar Services LLC has over four decades of collective experience in the solar industry. They provide installation and removal services for both homes and businesses, and offer a 12-year warranty on all their products.
- Location: 4618 W 26th Ave, Denver, CO 80212
- Phone: (720) 909-8899
6. Golden Solar
Golden Solar designs and installs solar panel systems for homes and offices in Denver and the surrounding areas. They also offer roof repair services if you need to replace or repair your roof.
- Location: 614 10th St, Golden, CO 80401
- Phone: (303) 955-6332
7. Sunrun Solar
Sunrun Solar not only installs solar systems but also handles all the required paperwork. Their services are reliable, affordable, and accessible to all. You have the freedom to choose your own energy plan as well.
- Location: 717 17th St #500, Denver, CO 80202
- Phone: (720) 464-6104
These top Denver solar companies provide quality installations, excellent customer service, and a variety of options to suit your specific solar needs and budget. Be sure to get multiple quotes, check reviews and certifications, and select a reputable installer to ensure you get the best overall value for your solar investment.
Conclusion
As you can see, going solar in Denver provides a host of benefits, from reducing your carbon footprint and lowering your utility bills to boosting your property value. With the help of incentives like the federal tax credit and Colorado’s net metering policy, you can save tens of thousands of dollars over the life of your system.
If you’re considering a switch to solar in 2024, now is the perfect time to start evaluating your options. Be sure to:
- Assess your home’s solar potential and energy needs with a professional solar consultant
- Compare quotes from multiple vetted solar installers to find the best fit for your budget and goals
- Explore all available incentives and rebates to maximize your long-term savings
- Choose a reputable, experienced installer with a track record of quality work and great customer service
By following these tips and thoroughly researching your solar options, you’ll be well on your way to powering your Denver home or business with clean, affordable energy from the sun. The future is bright – it’s time to go solar!