It's a great way for Colorado residents to save money and decrease their carbon footprint. However, it's important to understand all the options. Learn more about Denver's community solar programs. You'll be surprised at how affordable going solar in Colorado can be.
Community solar programs
Colorado is a leading state for equity-oriented community sunrar. Xcel Energy is the state's largest utility and has agreed to participate in community-based solar programs. These community-based solar projects are intended to lower electricity costs for residents and businesses.
The Colorado Energy Office initiated a demonstration project in 2015 that showed the feasibility of solar community models for low-income homeowners. The demonstration project is intended to help Colorado households reduce their energy costs and is a complement to the state's weatherization program. The CEO granted a $1.2 million grant for GRID Alternatives. They worked with rural utilities to build a portfolio that included eight community solar projects. These projects were used to serve 380 households of low income. As the demonstration project was successful, the CEO formed a partnership with the utilities and leveraged the investment.
Sales tax exemption
Solar power can be a great way of saving money and powering your home. Colorado's solar panels are tax exempt. The state's Sales and Use Tax Exemption for Renewable Energy Equipment means that you'll pay no sales tax on the price of your solar panels, as well as any increase in value. Talk to a solar professional near you to learn more about this exemption.
You'll also save money on installation costs. Colorado doesn't have a sales tax for solar panels like other states. Consequently, the installation costs are lowered and you can use your solar tax credit to offset the costs of installation. Thanks to the solar credit, you won’t be responsible for any property taxes even if your solar panels don’t produce any electricity. Additionally, local governments and utility companies will give you incentives such as net-metering and power buying agreements.
Cost of installing solar panels in Colorado
Colorado is known for its excellent solar panel installation. The size, wattage, and quality of the solar panels you choose will affect the price. If you are looking to save money, it's better to invest in high-quality, name-brand solar panels instead of cheap imports.
Colorado solar energy is considerably cheaper than Colorado utility power. A standard solar power system costs approximately 18 cents/kWh. This does not include the cost for installing a battery and maintaining it. This investment will save you money long-term. Furthermore, in Colorado, tax credits and rebates are available to you. The federal government has announced a 26% tax credit on solar power systems by 2020. Public utilities also often offer incentives to solar systems that are able to feed back energy into the grid. These incentives can also be searched in the Database of State Incentives for Renewables & Efficiency.
Going solar in Denver: Cost
A reputable company is essential if you want to put solar panels on your Denver home. A competent contractor in solar will be familiarized with local regulations. This includes electrical codes and building codes. They should also be familiar with local permits. You can avoid delays by choosing a top-rated company that specializes in solar energy. This will make sure your project is done on time.
The federal tax credit covers 30% of the total cost to install solar panels in Colorado. Many utilities offer rebates, incentives and other financial incentives for consumers who want to put solar panels on their roofs. Colorado businesses will often offer incentives that are based on the amount of solar energy produced. Homeowners may also find the net metering program a good incentive.