Going Solar in Colorado
The best solar companies, plus tax incentives, rebates & savings in Colorado.
Solar powered homes have boomed in popularity in the state of Colorado, thanks to their renewable portfolio standard (RPS). By 2020, Colorado hopes to achieve their goal to have all investor-owned utilities generate at least 30% or more of their electricity from renewable energy. In order to meet this goal, the RPS has been putting pressure on utilities to offer major rebates and incentives, with the intention of enticing homeowners to switch to solar energy. Here are the best solar companies in the state of Colorado, plus an outline of incentives, Colorado state tax credits, federal tax credits, net metering, and financing options available to people in Colorado looking into going solar!
Colorado Solar Tax Incentives
Of all the states in the country, Colorado has some of the very best incentives and solar rebates.
What’s almost as great as the Super Bowl?! Saving loads of money and the environment by choosing to go solar. In Colorado, the state government is doing all they can to help residents succeed with Colorado renewable energy. Just like the Broncos do on the field!
Colorado Solar Tax Credits, Incentives & Rebates
Solar Savings & Their Value
Federal Solar Tax Credit (ITC) – 30% of the total cost of your solar equipment
Local Utility Solar Rebates – Anywhere from $400 to $3,000 (cash rebate) depending on where you live
Other Programs Offered – Varies (Net Metering)
Additional Rebates from your Local Utility
In Colorado, many local organizations and utilities offer cash rebates to homeowners who decide to install solar on their property. Here are just two examples offered locally in Colorado, however, there are many more offers out there. Make sure to do your homework and see what rebates you’re eligible for.
If you live in Eagle Valley, Roaring Fork Valley or Summit County, you’re eligible for a rebate of anywhere from $400 to $3,000 when you install solar on your property. Again, call around, as the amount of cash you can get will vary depending on which area your home is located.
Holy Cross Energy:
Holy Cross Energy offers a great rebate for homeowners who install solar. Their rebate is set up per-kilowatt (kW), and provides $750 for the first 6 kW installed, then steps down for larger homes that require higher-than-average energy production. So, homeowners installing an average sized solar panel system (6kW) can save up to ,500 on their installation costs with Holy Cross Energy.
Federal Tax Credits
Legislators on Capitol Hill recently approved an extension of the solar Investment Tax Credit (ITC), offering the most significant PV subsidies available. So, even though you’ll receive great rebates from local utilities in Colorado, you can’t forget about the federal solar incentives! Reduce the cost of your solar panel system by 30%, thanks to this great tax credit. It’s important to keep in mind that you’re only eligible for this tax credit if you pay for your solar panel system outright.