Colorado has an abundance of natural gas, and most of its electricity comes from gas. According to the Colorado Energy Office, about three-quarters of households use natural gas to heat their homes. This makes electricity affordable in the state, but for some, the bills are still high. The average electricity bill in Colorado for residential use was around 15.98 ¢ / kWh in 2023.
Did you know that in this state, electricity companies regulate the electricity market based on residents' home addresses? Due to this, homeowners do not have much choice in choosing companies with low rates. Electric bills in Colorado not only include the electricity you use, but they also include grid maintenance, fire risks, and operational costs.
In this article, we will discuss how to lower your electricity bill in Colorado. Take a look!
Electricity Consumption in Colorado
With a mix of urban and rural areas, Colorado's electricity demand fluctuates across different regions and seasons. On average, Colorado produces 57,678,231.23 megawatt hours of electricity from its power plants. Also, the state produces 39% of its electricity from renewable sources.
On average, each citizen in Colorado consumes 9.64 megawatt hours of electricity. Cold winters and warm summers in Colorado drive the need for heating and cooling systems in homes or commercial buildings. This increases the state's consumption of electricity. So, due to high consumption, people have to pay high electricity bills in Colorado.
How to Lower Your Electricity Bill in Colorado?
With the rising electric bills in Colorado, you need to understand different ways to help you lower electric bills. Here are some suggestions if you are looking for ways to save money and energy on your Colorado electricity bill. Small changes can lead to significant savings in the long run.
Energy-efficient appliances
One of the best ways to reduce your electricity costs is to purchase energy-efficient appliances. Buy appliances that have ENERGY STAR® certification. You will pay less for energy because these appliances use less power and adhere to strict energy efficiency standards.
Smart thermostats
Install a smart thermostat to manage your home’s heating and cooling better. These thermostats learn your preferences and adjust temperatures automatically. Additionally, you can program them to turn down the heat or air conditioning when you are not home, which will save you money and energy.
Sealing leaks and insulation
Proper insulation is essential to keeping your home comfortable without overworking your heating or cooling system. Check for leaks around windows, doors, and other openings. Sealing these leaks and making sure your house is well-insulated can reduce energy loss and heating and cooling expenses.
Switch to solar panels
Lowering your average electric bill in Colorado does not necessitate sacrificing your comfort. Colorado has unlimited solar energy that you can use to power your buildings. This makes you less reliant on grid electricity and helps lower your energy bills. So, consider installing solar panels to produce electricity.
Though its initial cost can be high, solar power can significantly reduce your bills and save you a lot in the long run. With solar energy, all you need is sunlight, solar panels, and solar battery storage. Also, Colorado offers various tax credits and incentives to make solar installations more affordable.
LED Lighting
Switch to LED bulbs to save on lighting costs. LED bulbs use much less energy and last longer than traditional incandescent bulbs. The long-term savings on your electricity bill make them an excellent investment, even though they may initially cost more.
Energy audits
Consider getting an energy audit. Several Colorado utility companies provide energy audits at no cost or at a reduced rate to assist you in locating the energy-losing areas in your home. An audit can provide recommendations for improvements and lead to significant energy savings.
How Solar Can Lower Electricity Bills for Consumers in Colorado?
Switching to solar energy is an excellent way to lower your electricity bills in Colorado. Solar panels will help you by reducing your dependence on traditional power sources. You may benefit from incentives, have cheaper electricity costs, boost the value of your house, and promote environmental health by switching to solar energy.
Let us discuss how you can benefit from going solar.
Reduced monthly bills
Installing solar panels allows you to produce your electricity, reducing the amount you purchase from your utility provider. Your electricity bill savings can even cover the loan payments if you take out a loan to pay for the panels.
Tax incentives and rebates
Colorado offers various tax incentives and rebates for solar panel installations. These incentives can significantly reduce the initial cost of going solar.
Net metering
You can sell any extra electricity your solar panels produce back to the grid through a program called net metering. This means you can earn credits on your electricity bill for the power you generate but don’t use. These credits can be used to offset the cost of any electricity you may need to purchase at night or on cloudy days from the grid.
Increased home value
Installing solar panels can increase the value of your property. Due to the long-term energy savings and environmental advantages, potential buyers are frequently willing to pay more for a home equipped with solar panels.
Long-term savings
The initial cost of installing solar panels may seem high, but the long-term savings are substantial. Solar panels typically last 25-30 years and require minimal maintenance. Over time, the amount you save on electricity can far exceed the initial investment.
Environmental benefits
Using solar energy reduces your carbon footprint. In addition to reducing greenhouse gas emissions and reliance on fossil fuels, solar panels generate clean, renewable energy.
Energy independence
With solar panels, you gain greater control over your energy supply. You become less reliant on utility companies and are better protected against rising electricity rates.
Best Solar Systems in Colorado
Here are the best solar systems you can buy in Colorado to reduce your electricity bills:
BLUETTI AC200P+3*PV200 | Solar Generator Kit
BLUETTI AC200P+3*PV200 is a complete solar kit that you can use to fulfill your power needs for small houses, farms, camping vans, etc. It has a LiFePO4 battery that offers 3,500+ life cycles. You can charge it in seven ways (AC/Solar/Car/Generator/Lead battery/Dual AC/AC+Solar). If you are looking for an eco-friendly, gas-free, and cost-effective solution, then this solar power system is best for you.
In addition to AC outlets, it has USB-A, USB-C, a cigarette lighter port, and a 12V/3A DC Port. This solar generator kit also has a 12V/25A RV port and 15W wireless chargers to provide you with more charging options. It is easy to use and easy to carry when traveling to remote areas in Colorado.
BLUETTI 2*AC300 + 4*B300 + 1*P030A + 6*PV200 | Solar Generator Kit
To power your home, BLUETTI 2*AC300 + 4*B300 + 1*P030A + 6*PV200 is the best option for you. This is a complete solar kit that has batteries and solar panels. BLUETTI AC300 is 100% modular and supports up to 4×B300 (3,072Wh per pack) battery modules for a big capacity of 12,288Wh. You can use it to run heavy appliances at home without moving to the grid and save a lot on your electricity bills in Colorado.
The inverter can adjust the charging rate from 1800W to 3000W. Also, you can fast charge the AC300 at a 5,400W max rate. This helps save a lot of charging time. Moreover, you can connect two AC300s in series for 240V/6,000W output and a total capacity of 24,576Wh. This is a great kit for every household in Colorado who wants to reduce their electricity bill. Also, BLUETTI offers a warranty on all its products.
FAQs
Is electricity cheaper at night in Colorado?
Electricity can be cheaper at night in Colorado if you are on a time-of-use plan. These plans charge lower rates during off-peak hours, particularly late at night and early morning. Check with your utility provider to see if such plans are available and if they can help reduce your overall electricity costs.
Is it worth going solar in Colorado?
Yes, going solar in Colorado is generally worth it. The state has an abundance of sunlight, and a number of incentives and rebates can partially cover the upfront installation costs. Additionally, net metering allows you to earn credits for excess energy produced. All this makes solar a financially sound investment over time.
How does solar work in Colorado?
Solar panels in Colorado convert sunlight into electricity using photovoltaic cells. The electricity generated can be used to power your home, stored in batteries, or sent back to the grid. Due to Colorado's abundant sunshine, solar energy is a dependable and efficient power source.
Does solar increase home value in Colorado?
Solar panels can increase your home value in Colorado. Homes equipped with solar systems often sell for a premium compared to those without. Potential buyers see the long-term savings on electricity bills and the environmental benefits as attractive features.
How long do solar panels last?
Solar panels usually last 25 to 30 years. Although their efficiency may decrease slightly over time, most panels come with warranties guaranteeing performance for at least 20-25 years. Regular maintenance can help ensure they operate effectively throughout their lifespan.
