Colorado Photo voltaic Incentives: Tax Breaks, Rebates, Internet Metering and Extra

The advantages of a photo voltaic vitality system aren’t to be ignored. It might probably bump down your vitality invoice and with a battery system, even maintain the lights on throughout an influence outage. Whereas the excessive price of organising a system can act as a block, for those who’re a Colorado resident or are relocating to a brand new dwelling within the state, you possibly can deliver down the price of photo voltaic panels by hundreds of {dollars} due to the federal tax credit score.

However the financial savings alternatives do not cease there. It might probably yield even larger financial savings for those who benefit from the tax incentives, rebates and favorable financing packages obtainable to you. All kinds of statewide and native incentives can chip some extra off the value. Nonetheless, insurance policies change every now and then.

We have tried our greatest to seize obtainable incentives — on the time of writing — however for those who do not see your city or utility on this record, double verify for your self to verify if there’s an incentive you would declare.

Evaluating Colorado incentives for photo voltaic panels

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Colorado incentive	Description	Eligibility	Estimated worth
Federal photo voltaic tax credit score	Get an revenue tax credit score price 30% of the price of your photo voltaic set up.	Anybody with a tax legal responsibility.	Varies (e.g. Obtain a $7,200 credit score for a system costing $24,000.)
Photo voltaic gross sales tax exemption	Gross sales tax exemption on photo voltaic tools	Residents of Colorado	Prevented gross sales tax at 2.9%
Vitality Sensible rebate	A rebate on the prices of vitality effectivity upgrades.	Residents of 18 Colorado counties	Varies by venture and revenue degree.
Excessive Nation Conservation Middle rebate	Separate rebates for photo voltaic panels and vitality effectivity.	Houses in Summit County	As much as 100% of the venture price, as much as $4,000. ($1,500 for photo voltaic.)
Cloud Metropolis Conservation Middle vitality enchancment rebates	Rebates for dwelling vitality assessments.	Residents of Lake County	As much as 50% of the entire venture price, as much as $300 per family.
ReEnergize Garfield County	Rebates for dwelling vitality assessments.	Low and reasonable revenue households in Garfield County	Most rebate ranges from $2,000 to $4,000 based mostly on revenue.
Residential CORE Rebates	Reimbursement for dwelling vitality enhancements.	Residents in Roaring Fork Valley (Pitkin County and components of Eagle County)	Most of $7,500 or $15,000 relying on revenue.
Vitality Sensible Colorado	A statewide initiative that companions with utility corporations and organizations	Owners in Colorado	Varies

Colorado state photo voltaic tax exemptions and mortgage packages

Listed here are some packages within the state that may provide help to save on the prices of putting in a house photo voltaic panel system.

Photo voltaic gross sales tax exemptions

Colorado would not gather gross sales tax on purchases on photo voltaic vitality and storage tools. This consists of not solely photo voltaic panels and methods, however system parts and supporting buildings and racks.

Colorado Residential Vitality Improve (RENU) Mortgage Program

This particular mortgage program is a partnership between the Colorado Clear Vitality Fund and Colorado credit score unions. Eligible owners can borrow as much as $75,000 for his or her dwelling photo voltaic, battery storage or water heating methods. There is not any down fee; low, fastened rates of interest and a 20-year mortgage time period.

Native photo voltaic panel incentives in Colorado

This is a have a look at among the native photo voltaic and vitality effectivity rebates obtainable in Colorado.

Vitality Sensible Colorado rebates

Vitality Sensible Colorado is a nonprofit that has teamed up with 10 group companions to make dwelling vitality effectivity inexpensive in 18 counties within the state. This consists of dwelling vitality assessments, particular financing packages and rebates for warmth pumps, warmth pump water heaters, electrical home equipment and weatherization tasks. Owners can obtain rebates price as much as 25% or $300 off of some tasks. If you happen to dwell in a manufactured dwelling, it’s possible you’ll qualify for bigger rebates.

The Vitality Sensible packages are administered by these native companions.

ReEnergize Eagle County

Strolling Mountains Sustainability says data on its 2024 photo voltaic incentives is forthcoming however has obtainable data on vitality effectivity rebates price as much as $1,000.

Excessive Nation Conservation Middle Rebate

You may rise up to 100% or $1,500 in your photo voltaic panel or photo voltaic thermal set up and as much as $4,000 when bundled with different effectivity updates, relying in your revenue.

Cloud Metropolis Conservation Middle Vitality Enchancment Rebates (Lake County)

You may have the ability to obtain a rebate of fifty% of the entire price of a house vitality evaluation, as much as $300 per family. 

ReEnergize Garfield County

This helps low and moderate-income households in Garfield County obtain free dwelling vitality enhancements and monetary help to be extra vitality environment friendly. The packages web site says that decrease revenue households “sometimes obtain 100% of the price of beneficial measures,” whereas moderate-income households can obtain a rebate of $2,000 to $4,000.

Residential CORE Rebates (Roaring Fork Valley)

Those that dwell within the Roaring Fork Valley, which incorporates Pitkin and Eagle counties, can scoop up rebates for a number of vitality effectivity enhancements. Rebates can complete $7,500 or $15,000, relying on revenue.

Utility rebates for photo voltaic tools in Colorado

A number of utilities supply rebates for photo voltaic tools within the Centennial State.

Holy Cross Vitality renewable vitality incentives

Prospects of Holy Cross Vitality could also be eligible for rebates on their photo voltaic system: $250 per kilowatt for the primary six kilowatts, then $100 per kilowatt as much as 25 kilowatts. You can even get a rebate to your battery: $250 per kilowatt or $500 per kilowatt (as much as 25 kilowatts) relying on how a lot you enable Holy Cross Vitality to manage your battery’s cost.

Incentives are first come, first served.

San Miguel Energy Affiliation battery methods rebate

San Miguel Energy Affiliation clients can get a rebate on their battery methods. The rebate is for $750 for battery methods of 6 kWh or bigger.

Federal photo voltaic tax credit for Colorado residents

There are two federal tax credit you should utilize to go photo voltaic or enhance your own home’s vitality effectivity.

Residential clear vitality credit score

You may declare a federal revenue tax credit score of 30% of the price of a photo voltaic panel and residential battery set up.

Vitality environment friendly dwelling enchancment credit score

The federal vitality environment friendly dwelling enchancment credit score enables you to declare revenue tax credit for vitality effectivity upgrades at dwelling: as much as a $3,200 credit score annually by means of 2032. The credit score is segmented by applied sciences (as much as $2,000 annually for warmth pumps and $1,200 a 12 months for different expertise), and you’ll’t roll the credit score ahead, so plan accordingly.

Colorado web metering guidelines for photo voltaic vitality

Underneath Colorado regulation, web metering works in another way based mostly on the kind of utility you have got. You need to be credited on the retail fee for as much as a sure level. For investor owned utilities, that must be no less than 120% of your utilization. For municipal utilities or co-ops, the cap is ready at 10 kilowatts of photo voltaic capability. Above that, it’s possible you’ll be credited at a special fee. Extra credit every month will roll over to the following.

Specifics differ by utility, so you should definitely perceive the necessities of yours earlier than shifting forward.

Group photo voltaic tasks in Colorado

If you happen to aren’t in a monetary place to purchase or lease a house photo voltaic system, you possibly can reap the advantages of renewable vitality by means of group photo voltaic tasks within the state.

Empire Electrical Affiliation photo voltaic gardens

The electrical co-op Empire Electrical Affiliation operates two group photo voltaic packages. Individuals can lease a portion of the bigger array for vitality invoice credit. One of many packages is designated for many who meet revenue eligibility standards.

Xcel Vitality Photo voltaic Rewards Group program

As a substitute of putting in a house photo voltaic system, owners who’re Xcel Vitality clients can subscribe to a neighborhood, third-party photo voltaic backyard and buy electrical energy by means of this system. By subscribing, you will get a Photo voltaic Group credit score in your month-to-month invoice. 

Photo voltaic co-ops

Photo voltaic co-ops, that are teams of people that pool their funds collectively to spice up their shopping for energy to get photo voltaic. Photo voltaic co-ops are member-driven, and it is free to affix. 

Members obtain bids to put in photo voltaic of their dwelling from an installer that was handpicked by the group. When you obtain a bid, you possibly can resolve to maneuver ahead. 

Photo voltaic United Neighbors is looking for members in its photo voltaic co-op for Routt and Steamboat Springs counties. Membership is open to owners and enterprise homeowners by means of April 15, 2024.