What to Know Before Installing Solar Panels
Solar panel installation has become a hot topic over the past few years with technological advancements and tax credits available for those who install panels. Solar panel installation in Colorado Springs has boomed, with Colorado being known for its 300 days of sunshine a year. Before purchasing solar panels in Colorado, here is what to know before installing solar panels on your residential or commercial property.
Since solar is a rapidly expanding business in Colorado Springs, it is crucial to find a reputable and reliable solar company. As a solar panel company in Colorado Springs, CRJ Contractors is a local, dependable solar specialist ready to answer any questions you may have about solar installation.
Solar Panel Installation Cost
Several factors influence the high cost of solar panel installation, with one of the lowest costs being the panels themselves. In 2022, the average cost of solar panel installation in Colorado is $18,000. Here are some examples of cost variation factors:
- Type of panels used
- Inverter type
- Mounting system
- Permit fees
- Transaction costs
- Installer costs
- Installation labor
- Supply chain costs
Choosing the right panel system for your project involves research and speaking to reputable solar companies. You can expect savings from the solar system installation cost with your reduced electricity bill. Colorado has swiftly rising electricity rates that solar panels can help combat.
You can frequently find cash rebates for panel installation and participate in net metering to offset the installation cost. Net metering allows residents to sell back their excess power production to the power grid, allowing credits toward future bills. If the installation cost still seems out of reach, look at other ways to pay for your solar panels in Colorado.
Solar Tax Credit Colorado
In December 2020, Congress extended the Federal Solar Tax Credit to December 31st, 2022. This tax credit remains at 26% if the panel system is installed before December 21st, 2022, making now the perfect purchase time. Whatever the total cost of your solar installation, you will receive 26% of that as a tax credit that can reduce the total taxes you owe at the end of the year.
Roof Requirements For Solar Panels
A solid roof with suitable materials is essential for solar panel installation. The best roof materials for panel installation are metal, asphalt shingles, and tile. Solar panels may not be appropriate if your roof is made with clay or slate, as those types of roof materials are fragile and break easily.
Other roof considerations:
- Age of your roof
- Condition of your roof
- Direct sunlight hours
- Angle of roof
- Roof facing direction
The list above does not exclude your home from being an excellent solar candidate but highlights factors you should discuss with your solar panel provider.
Types of Solar Panels
There are three common types of solar panels to choose from: monocrystalline panels, polycrystalline panels, and thin-film panels. The amount of space you have, the angle of your roof, and sunlight exposure all contribute to which system would work best for your project.
Monocrystalline solar panels have the highest efficiency and power capability, making this option the most expensive. The higher price point can be a better option for some, with 15-20% efficiency ratings!
Polycrystalline panels are manufactured from silicon crystals, the same as monocrystalline panels. The difference between the two is monocrystalline comes from pure crystal, while polycrystalline is made from fused silicon crystal fragments. Polycrystalline panels are cheaper than monocrystalline, with 15-17% efficiency.
Thin-film panels are the least efficient panel option but are flexible to adjust to complex roof systems and are the most resilient.
How Long Do Solar Panels Last
With payback time of panels between 5 and 15 years, you could have 20 years of energy cost savings depending on your energy needs. You can take additional measures to help increase your panel system’s longevity, such as finding a reputable manufacturer and installer. Since solar panels are dependable, a routine maintenance plan should give your panels a long life.
Are Solar Panels Worth It In Colorado
If you want to install solar panels in Colorado Springs, contact CRJ Contractors, and we would be happy to answer any questions you have about solar installation. CRJ has extensive experience working with solar panels in Colorado and understands your unique solar needs.