Things are looking bright for solar power in Colorado.

SolarCity, a residential and business solar installation, leasing, purchasing, and monitoring company, celebrated the opening of a new 11,000 square foot warehouse in Denver this week.

“We launched in Denver in December of 2009 and this is our next big step,” said Jonathan Bass, Director of Communications for SolarCity. “This new warehouse is a reflection of the strong response we’ve seen to the leasing program. Between the economics in Denver, the Xcel rebate, the environmental enthusiasm of the region, and the amount of sun, the potential for solar power is huge in Denver.”

The first to offer solar leasing, Bass noted the majority of SolarCity’s new business on the leasing end.

“Solar leasing is what we’re known for,” said Bass. “Through the leasing program, you can go solar and actually pay less than you paid for electricity. You can save 20 percent net from day one by going solar. The leasing program makes it possible to pay less for green power.”

Bass noted that while leasing is gaining in popularity, it can also make financial sense to purchase.

“In Colorado, you get a 30 percent tax credit and an Xcel rebate. If you purchase solar for a home you’re going to live in for 20 to 30 years, you’ll get a better return over time by investing in the system,” he said. “But leasing provides an immediate return. It depends on your situation. Either way, there’s an affordable solar option for all.”

Pictured: SolarCity installers equip a home with fancy new solar array.