The reality is that Colorado Springs will be seeing more rate increases each year. The closing of the Drake Power Plant and new Federal Laws governing how new coal plants can run is forcing tough decisions.
You have choices to control these unforeseen costs if you own your home or business. The decision is yours and yours alone to make. Do you continue to pay the increase or own your electric resource to offset the cost?
Cost of electricity over 25 years. 4% increase is the U.S.A. average rate increase.
Year 1 – 25 with a 4% increase each year. Starting payment is $100 per month ($1,200 yearly) = $49,975.09
Possible scenarios:
If you plan on staying in your home for 20 plus years, Solar can provide:
· 25-year warranty on parts and workmanship
· Payback period between 5-15 years. ( depends on system size, cash buy or loan)
· Electricity price stays flat over the life of the system
· Increase property value. Colorado does not increase property tax with solar additions.
· Track energy usage via your phone or tablet
· Have yearly inspections and follow-ups
If you plan on staying in your home for longer than two years
· 25-year warranty on parts and workmanship transferable ( Battery backup not included)
· Increase home value and attracts customers understanding the value it brings.
· The value for the new homeowner to have control over energy costs.
· The differential value proposition that separates your home from all others
· Track energy usage via phone or tablet to new owners
· Have yearly inspections and follow-ups passed on to the new homeowners
Additional info to read to understand what is coming: