Is Solar Worth it in Denver?
Residents of Denver look to solar primarily for stability. Locking in your energy costs now protects you from future rate hikes that are expected to hit the region in the coming years.
Homeowners in Denver are currently paying an average of 15.4 cents per kWh. Solar is a solid long-term bond, beating inflation in Colorado while immediately increasing your home's resale value.
With the Federal Solar Investment Tax Credit (ITC) currently set at 30%, a typical 6kW to 10kW residential system in the 80201 area can typically pay for itself in just 7.5 to 9 years. After this "break-even" point, your system generates effectively free electricity for the remainder of its 25-year lifespan.
Key Denver Statistics
- Avg Rate: 15.4¢ / kWh
- Sun Exposure: High (Southern US)
- Est. Payback: 7.5 Years
- Incentive: 30% Federal ITC
State Incentives for CO
Beyond the federal credit, residents of Denver should check for local net metering policies offered by their specific utility provider. These policies determine how much you get paid for sending excess energy back to the grid.