Solar Energy and Commercial Real Estate in Colorado
It’s official! Solar energy has hit the Denver commercial real estate market and is here to stay. The last decade has seen an unprecedented surge in all types of renewable energy, but solar energy took the lead as the cleanest and most abundant renewable resource available. Ranking No. 6 in the United States for solar power, Colorado has been at the forefront of moving away from fossil fuels toward cleaner energy sources. Capital Realty Group is proud to be a part of the growing solar sensation which has made homes and offices in the Centennial state more eco-friendly.
Colorado Is Committed to Solar Energy
What makes Colorado special in regards to solar energy? For one, it has demonstrated a long-standing commitment to increasing renewable energy usage. In 2004, it became the first state to implement a statewide Renewable Energy Portfolio Standard, requiring the state’s largest electricity providers to source 10% of their power from renewable energy by 2015. Since then, Colorado has continued to demonstrate its preference for solar energy by raising that percentage to 30% by 2020, with at least 3% of retail energy sales coming from localized sources (non-giant power companies).
Denver Commercial Real Estate and Solar Power
But what does all this mean for those looking to invest in commercial real estate with solar energy? Savings, and lots of them. First, Colorado allows for solar leasing so you can install solar panels with no money down upfront. After switching to solar power, electric bills instantly diminish. Even with the additional solar lease payment, the final bill comes out to be much lower than old utility bills. But best of all, most utility companies providing leases offer price-per-kilowatt caps which ensure that rates will stay the same in the years to come. Over a 25- year lease payment period, it is estimated that an average property owner will save $15,520.
Other goods news is that to get people on board, Colorado offers tax exemptions and performance payments to property owners who switch over to solar energy. Utility companies—eager to meet their 2020 energy requirements—are currently offering performance payments which supplement the cost of solar installation.
This all means that the time to invest in solar properties in Colorado is now and Capital Realty Group is here to help!
How To Use This Information
Are you interested in the Denver commercial real estate market, or do you want to hear more advice and insight from the experts? Then come talk to Capital Realty Group! You can call us at 303-573-0377 or contact us online.
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Categorized in: Denver Real Estate News
This post was written by Capital Realty