Colorado Solar Incentives 2023
Colorado is quickly becoming one of the top places in America to go solar, powering over 400,000+ homes & businesses. Being a mile closer to the sun does have its advantages!
Investing in solar energy in Colorado is a great way to save on your electric bills, increase your property value, and supplement power during any storms or power outages! And in Colorado, there are more solar incentives and local solar programs available than ever before to help residents convert to solar energy!
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Top 5 Colorado Solar Incentives
Does Colorado have any Solar Incentives? Yes, the state of Colorado offers many solar incentives to help drive its renewable energy projects. You can enjoy property tax exemption, sales tax exemption, federal solar investment tax credit, net metering, and more from the Colorado energy savings program. Here's a list of the best solar programs in Colorado.
1. Solar Sales Tax Exemption
The state of Colorado exempts homeowners from paying taxes on the purchase of solar energy system equipment. This residential solar system state sales tax exemption can help you save up to 2.9% in taxes. Including labor costs, batteries, and monitoring systems.
2. Solar Property Tax Exemption
Installing a solar system increases your home value which should also increase your home income taxes. However, under the property exemption Colorado solar law, you don't have to pay property tax if you sell it in the future. The property tax exemption law only applies to homes with a 100KW system installed and covers the value added to the property by installing the solar system.
3. Federal Solar Tax Credit
Homeowners in Colorado can get up to about a 30% discount on tax credits for their Solar systems. Also, solar systems installed before 2019 and between 2021 - 2022 qualify for 26% and 30% tax credits, respectively, when you file your taxes. For example, if your total solar installation cost is $10000, you get $2200 off, leaving you with a $7800 charge.
4. Colorado Net Metering
Colorado net metering allows you to save on utility bill costs by contributing excess solar energy generated to the main grid. For example, if you produce and provide $60 worth of extra energy and consume $80 a month, your total electricity bill will be $20. In contrast, if the power contributed is greater than the energy consumed for that month, the excess credit rolls over to the next month until consumption.
5. Local Utility Rewards Program
Some local utility agencies offer cash rewards to customers in exchange for renewable energy credits (RECs). For example, Black Hills Energy rewards homeowners with $0.030 per kWh, provided they have a 0.5kw- 30kw solar system. Also, Xcel solar rewards program offers customers $0.005 per kWh. To access these rewards, customers must sign a contract spanning 10 years and 20 years, respectively. Contact your local utility provider to see if they offer a reward program and how to qualify.
Get started with your free CO Solar Savings quote!
How To Get Free Solar Panels In Colorado
If you're a Colorado homeowner, there's a good chance that you qualify to have free solar panels installed on your home! The free solar programs allow you to enjoy the benefits of free solar energy without the cost of equipment, installation, or maintenance. To access these programs, you must meet specific requirements; follow the steps below to get free solar energy in Colorado.
See how in our comprehensive guide to getting free solar panels installed in Colorado
Going Solar In Colorado
As you can see there are many benefits to solar energy including the money you can save on the investment. Most homeowners return their investment in less than 10 years! And in a place where you are a mile closer to the sun, solar panels are a great energy choice in Colorado.
If you are interested in solar for your home or business, start today with a free solar savings quote from the Colorado solar experts at EcoGen America.
Enter your zip code to see if you qualify for Colorado solar incentives!
Do I Qualify?
Please enter a zip code
Yes, Solar panels increase the value of your home by 5% or more depending on the size of the solar power system. Fortunately in Colorado, solar panels are exempt from the additional Property Taxes. Read more.
Yes, the state of Colorado offers many solar incentives to help reduce the costs of solar for residents. You can enjoy property tax exemption, sales tax exemption, federal solar investment tax credit, net metering, and more from the Colorado energy savings program.
Want to see how much solar could save your home in CO?
Use our Free Solar Savings Calculator to see your potential savings by switching to solar.