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Are red and green iguanas the same species,care and temperment, just different colors
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Yes. The red iguana is just a color variation of the green. It actually seems to fade with age, resulting in a burgundy-brownish iguana.
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Can they be kept mostly on a rep cal pelleted diet, along with greens
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IMO, not really. Some may have had success with a mostly pelleted diet, but I generally believe fresh vegetation is lot healthier for an iggy, than a commercial diet. Of course, you also have the issue of: will the iguana even eat the pelleted diet? In my experience, most iguanas refuse it.
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After awhile do they calm down?
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It depends, mostly on how much handling and interaction you give it while its young.
If you are looking for a pet reptile that is easy to handle and requires little taming/training, then an iguana is mostly definitely NOT for you. IMHO, green iguanas are the pet equivalent of a parrot and a monitor lizard; They have the basic intelligence, and behavioral issues of a medium-large pet bird combined with the attitude and physical characteristics of a large lizard. They are very visually-attuned to their environment (more so than most herps) and thus, they react to changes and stress more (new cage furnishings, color, etc). Also, a large iguana is a force to be reckoned with; they can bite HARD, they can scratch the daylights out of you and they have a powerful tail that is used like a whip.
You have to dedicate time EVERY SINGLE DAY with a young iguana to achieve a relatively "dogtame" adult lizard. Also remember, iguanas are rather like cats; some don't mind be handled, others do not tolerate it, some only allow occasional petting if they're in the right mood, and some just prefer to be left alone altogether.
Green iguanas are not easy pets, nor are they for beginners. Aside from all the other issues I mentioned, they require very spacious housing. There's not a glass tank you can afford that can properly house an adult iguana. Unless you are rich, your best option is to build a custom enclosure. And you'd probably want to plan ahead soon because iguanas grow FAST. You're looking at a cage roughly the size of a small bathroom (at least 6 ft long x 6 ft tall x 4 ft wide).
I hope that answers your question, and gives you a better idea of what an iguana is truly like.