This photo, posted earlier this week on my Facebook page, shows the first stage of adding solar panels to our home. Several have commented or asked questions, so I thought I'd address it here.
I was curious and began by clicking a link from our local utilities in an online feed somewhere, I'm not even sure where. I knew our local utilities were offing some sort of incentive, but I wasn't sure what or how it worked.
Contact was made. An appointment scheduled. We learned that the process works like this:
Bottom line: this is how Colorado Springs Utilities is working to satisfy the Colorado Renewable Energy Requirement, Initiative 37, passed in 2004. It made sense to us, so here we go.
I was curious and began by clicking a link from our local utilities in an online feed somewhere, I'm not even sure where. I knew our local utilities were offing some sort of incentive, but I wasn't sure what or how it worked.
Contact was made. An appointment scheduled. We learned that the process works like this:
- Your average annual electric use is calculated from historic utility usage and bills
- The provider designs a system to generate the same amount of electricity you've used annually
- If you decide to proceed, the provider installs the system including wiring it into your junction box. The utilities company comes and installs a net metering system to monitor the amount of power being applied back to the grid.
- Once activated, utilities stops charging you for the electricity you are using (still provided by them.)
- What you then pay is the financing of the equipment. The system is designed to offset your use and the numbers work out that the fixed payment is less than the electricity you've been buying. (The mathemagics includes the provider pocketing the $500 incentive from utilities and assumes you will apply the tax credit when you file next year directly to the balance. For us, our monthly payment will be about $15 less than the monthly cost of electricity has been.)
Bottom line: this is how Colorado Springs Utilities is working to satisfy the Colorado Renewable Energy Requirement, Initiative 37, passed in 2004. It made sense to us, so here we go.