Solar energy: the solution to the global energy crisis. You’ve heard it before. Solar panels make the world a greener place by reducing the emissions from coal-fired power plants, take advantage of the free energy that gently falls on the earth every day, and have the power to eliminate our dependency on foreign energy sources. There’s a lot of truth in that, but here are the essential facts about solar energy. Colorado is ranked the second best state for solar energy. Combining over 300 sunny days a year with some of the best rebates, loans, and tax breaks in the country make solar energy an extremely valuable and viable option here. On top of the $2.85 per watt rebate that our state provides, the federal government also offers a 30% tax credit for your investment. In addition, Xcel energy has to buy back all the extra electricity that your photovoltaics produce. These benefits make the payback time for solar panels about ten years, if energy prices simply continue to rise at the same rate. Think of the consequences. All those planet saving statements will become reality and the world will be a better place. But more importantly, this investment also funds further solar research, helping to develop and improve the technology that will save the world. Even better, you can help Colorado’s infant solar industry grow, creating new jobs and business in Colorado.
Many opponents of solar energy say that the technology isn’t good enough yet and that we don’t need this source of energy. These arguments may have some validity, but the technology won’t improve on it’s own. Purchasing photovoltaics doesn’t only benefit you and the environment, however. It is also an investment in solar energy. By investing in solar, you are investing in the entire solar industry and funding research that will bring us our next big technological breakthrough. Here’s another fact. These phenomenal fiscal incentives won’t be around forever. Xcel Energy is already trying to reduce the amount or incentives they are required to provide solar energy benefactors. If successful, the future payback time for solar energy products may actually increase. The technology is here now, and it’s especially available to you here in Colorado. Take advantage of it.
Patrick Whitney of Littleton is a junior at the Colorado School of Mines. He is president of Mines chapter of the American Society of Mechanical Engineers.
