posted Monday, September 8, 2008 11:03 a.m. Colorado residents experienced record highs this summer – not only with the temperatures outside but also with the cost of home energy. With electricity rates expected to increase by nearly 40 percent in some areas this year, it is becoming necessary to look toward new sources of energy.  Perhaps that is why more and more homeowners are installing solar electric systems to drastically decrease their monthly utility bills, or in some cases, eliminate them entirely.

With more than a thousand Colorado homes being powered with solar panels, more and more homeowners are realizing the benefits of generating their own electricity with the power of the sun. Here are some of the perks:

Lower or Eliminate Your Monthly Electricity Bills 
By installing a solar electric system in your home, you'll immediately see lower electricity bills each month. Your home remains connected with your electricity provider, and your home will draw only enough power to cover what is not generated by the solar panels (for instance, at night or in cloudy weather), lowering the amount of electricity purchased per month. What's more, if you generate more power than you are using, the utility company will provide you a credit for the excess power you send back to the grid.  With more than 300 days of sunshine in Colorado each year, a solar electric system can significantly reduce or even eliminate your monthly electricity bills.

Provide a Hedge Against Rising Electric Rates
Not only will you save every month on your electricity bills by using solar energy, but the value of your savings will continue to increase every year.  Recent reports predict local utility companies will raise their prices by 38 percent – just in the next year!  By producing your own energy with a solar electric system, you lock in your electric rate for your solar-produced energy and avoid paying these higher electric rates in the future.  When you take this into account, a solar electric system can potentially pay for itself in less than five years! 

Qualify for a Federal Tax Credit
Installing a solar electric system makes you eligible for a federal tax credit of up to $2,000.  But this incentive currently expires on December 31, 2008, so don't miss your opportunity to lock in your credit.  Solar installations must be completed by the end of the year to be eligible.

Colorado Leads in Rebates
Colorado is one of the leading states in the nation in supporting renewable energy, with Xcel Energy rebates paying for up to 60 percent of the total system cost! At $4.50 per installed watt (up to 10 kilowatts), Xcel incentives are among the highest in the United States for grid-connected solar systems. Between the Xcel Energy rebates and the federal tax incentive, up to 70 percent of the entire system costs are covered, making solar power an investment that will pay for years to come.

Grow Your Home's Value
Installing a solar electric system on your home drastically increases its value. Homes with solar electric systems see an increase in value up to $10,000 for every $500 in annual utility savings.  This property value increase is exempted from taxation, so you can reap the rewards without any penalty.

Energy to Last a Lifetime
Solar panels are built to last. In fact, there are solar panels that have been known to produce for more than 30 years.  Nowadays, most solar panels even come with a production warranty of up to 25 years.  They are designed to withstand inclement weather conditions including temperature extremes, hail and 150 mph winds. 

Pay Back Mother Earth
Our dependence on fossil fuels has created tons of environmental problems – from polluting greenhouse gas emissions to surging energy prices.  A solar electric system can help you offset your impact on the environment by producing your own clean, renewable energy and reducing your consumption of fossil-fuel generated electricity.  With the electricity use of the average American home causing more polluting greenhouse gas emissions in a year than a car does, you can make a big impact in protecting the environment by using clean energy.

Using renewable energy allows you to enjoy the financial benefits of energy efficiency while feeling good about helping to reduce environmental pollution. Solar electric systems continuously prove to be not only an environmentally responsible alternative to utilizing fossil-fuel generated electricity, but also a financially responsible choice. Armed with this knowledge, you can join the many Colorado residents who have already begun to reap the financial benefits of switching to solar power.

-Article written by Sam Ley, Chief Designer, Standard Renewable Energy

Founded in 2006, Standard Renewable Energy is a premier provider of energy efficiency and renewable energy solutions for homes and businesses. For more information, please visit sre3.com.
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