Local and Federal Solar Incentives
Does your home qualify and how much will you save?
Affordable Solar Colorado’s Energy Consultants help homeowners save money and the environment by switching to solar. With absolutely no money up front (with approved credit) and new monthly payments oftentimes lower than the homeowner’s current utility bill (and payments end after the term you choose,) it’s easy to see how solar makes sense. The state and federal government is also helping homeowners acquire residential rooftop mounted solar, residential solar ground mounts and creating community solar gardens. Solar energy is no longer in the future. NOW is the time to save money with Colorado renewable energy and the Affordable Solar Colorado team is helping you to succeed.
Colorado Net Metering
Colorado passed a law that requires net metering. What this means is that homeowners will receive credit from their utility for any extra energy their solar produces. That may mean a roll-over credit from month-to-month, or a check back at the end of the year. Affordable Solar Colorado’s Energy Consultants can let homeowners know how their utility company manages net metering.
Local Solar Rebates
Some local utilities, such as Xcel, offer small cash rebates to homeowners who install solar on their property. The Affordable Solar Colorado Energy Consultants will be sure to explore the options available in your area and apply for these benefits on your behalf. You won’t have to do anything, just sit back and wait for your check to arrive.
Renewable Energy Equipment Tax Exemptions
Colorado has some tax breaks for solar. The Sales and Use Tax Exemption for Renewable Energy Equipment results in no sales tax on the purchase of your system. The Property Tax Exemption for Residential Renewable Energy Equipment means you won’t have to pay any additional taxes on the increased value of your house.
Federal Solar Tax Credit (ITC)
The Investment Tax Credit (ITC) is currently a 30 percent federal tax credit claimed against the tax liability of residential and commercial investors in solar energy property. The residential ITC allows the homeowner to apply the credit to his/her personal income taxes. This credit is used when homeowners purchase solar systems outright and have them installed on their homes. The residential ITC is equal to 30 percent of the basis that is invested in eligible property which have commence construction through 2032. Download the SEIA Factsheet.