Many La Plata County homeowners are choosing to invest money to make their homes more energy efficient, and one of the ways they can do that is by installing solar panels on their homes.
Don Ricedorff, broker-associate with the Wells Group of Durango, said there is a relatively small market for buyers looking for solar-powered homes. However, he added, most home buyers still are interested in finding energy-efficient homes.
Many local contractors are offering solar packages with new homes, he said. Also, homeowners looking to remodel their existing homes can turn to many of the solar-panel providers in the area.
"The newer subdivisions such as Three Springs and Skyridge and La Questa have a number of homes with solar, and the open southern exposure allows long days for peak energy," Ricedorff said.
Twin Buttes has a solar garden as part of its neighborhood plan. Solar gardens allow homeowners to "buy" an offset for the electricity they use without having to install panels on their property, he said. Homeowners can transfer the offset or include it in the sales price when they sell their home.
"A purchaser of electricity via a solar garden probably will not have the tax benefits but will have greater flexibility," he said.
Not only will they save money, but their home increases in market value.
"Energy efficiency, including the use of solar, should create a higher resale price for the home because it saves utility costs over the life of the home," Ricedorff said.
Under the Home Energy Rating system, or HERS, a standard home is rated 100, meaning it has an average energy-efficiency rating.
A HERS rating of 50 means the home uses 50 percent less energy than the standard home, resulting in a major savings in utility costs, according to the Department of Energy.
For those who are looking to install solar panels, there are several local companies that can provide the service.
John Shaw, owner of Shaw Solar & Energy Conservation, started off as a one-man company in 2005. The company has since grown to 12 full-time employees because of high demand for solar installation, he said.
This year, the company installed 66 systems compared with the 43 it installed last year.
Systems are also getting bigger. The company has installed more than twice as many panels compared with last year.
The cost to install an average system, between 16 and 20 panels depending on the size of the home, is about $15,000 before tax credits and rebates, Shaw said. The systems can save homeonwers about $1,000 a year in utility costs.
So, after the credits and rebates, the systems end up costing about $10,000, meaning an average system can pay for itself in about nine years, he said,
Solar energy isn't affordable for most low-income families now, but Shaw believes solar installation will become more affordable because, while panels may not get any cheaper, energy is getting more expensive.
"The more expensive energy is, the faster the payback on solar and the more it makes sense," Shaw said.
According to Inside Real Estate News, the economy would benefit if homebuilders in the state had a more consistent program in place for the installation of solar systems in new subdivision.
The Colorado Solar Energy Industries Association, or COSEIA, is a nonprofit association leading Colorado's solar industry.
COSEIA estimates a homeowner can save up to $40,000 in utility bills over 30 years with the installation of a standard rooftop solar system.
The solar energy industry is also creating jobs in the state.
Colorado is the No. 1 state for solar jobs, per capita, according to the association.
About 36,000 people are employed in companies involved in the state's solar industry. If the upward consumer trajectory continues, hundreds of people could potentially find employment within the industry in the upcoming years, according to COSEIA.
