Why Is My Electric Bill So High in Colorado? How Solar Can Help.
If you’re wondering, “Why is my electric bill so high in Colorado?,” you’ve come to the right place. Find out why bills are rising & how you can reduce them!
Solar panels are popping up all over the place in Colorado. Your neighbors won’t stop talking about how much money they’re saving on their electric bills, but you’re not sure you believe it. It all sounds a little too good to be true.
You’re not alone in your thinking. We get calls from homeowners asking how much money solar panels really save almost every day.
But residential solar panels do save you money. In the right circumstances, they can cover 100% of your electricity usage.
Keep reading for a complete breakdown of average solar savings in Colorado.
To calculate how much money solar panels will save on your electric bills, you first need to know how much money you spend on electricity.
According to the US Energy Information Agency, the average residential electricity rate in Colorado is 14.47 cents per kWh. The average Xcel Energy customer in Colorado uses approximately 600 kWh of electricity every month, which means Colorado households are spending $86.82 a month on electricity, on average. It’s important to remember, however, that this number is just an average. Some households use a lot more electricity, especially those with heat pumps, EV chargers, hot tubs, and swimming pools.
Now let’s look at solar panel savings.
Given an adequate amount of sunshine (about 4-5 hours a day) one kW of solar capacity will produce around 1,400 kWh of electricity per year. A 6 kW solar panel system will therefore produce around 8,400 kWh per year—700 kWh per month. That’s more than enough to cover the average Xcel Energy customer’s usage of 600 kWh per month.
Looking at averages can give you a good idea of how much money solar panels save per year, but solar energy savings can vary widely even for houses in the same neighborhood.
Your actual savings will depend on several factors, including:
A solar battery storage system, like the Tesla Powerwall, can be added to any solar panel system to maximize its benefits. With a battery, you can store the excess electricity your solar panels generate during the day and use it to power your home at night or when it’s cloudy. You’ll be able to use more of the solar energy you produce and buy less electricity from the grid, further reducing your electricity bills. You can also use your battery to avoid on-peak rates by strategically deploying stored solar energy during peak demand times.
Solar Power Pros is the leading solar panel installer in Denver, Colorado, and across the Front Range. We are a highly experienced, local Colorado solar installer that’s committed to putting homeowners in control of their electric bills. We can help you maximize the financial benefits of solar energy with a custom solar panel and battery systems tailored to your specific needs. We offer free virtual consultations and no-pressure estimates so you can take the first step toward going solar with zero risk.
If you’re wondering, “Why is my electric bill so high in Colorado?,” you’ve come to the right place. Find out why bills are rising & how you can reduce them!
Get the most powerful home backup power with the Tesla Powerwall 3. Solar Power Pros is a Tesla Powerwall Certified Installer in Colorado. Reach out today for your free quote!