It is possible to go solar in Colorado and save money. However, it is important that you understand all options. Learn more about Denver's solar program, sales tax exemptions and the cost of solar panels. It will be surprising how affordable it is to go solar in Colorado.
Community solar programs
Colorado is home to some of the most prominent places in the United States that offer equity-oriented solar community. Xcel Energy has joined the state's community solar program. This is in addition to private developers. These community-based solar projects are intended to lower electricity costs for residents and businesses.
In 2015, the Colorado Energy Office launched a demonstration project to show the feasibility of community solar models for low-income households. The demonstration project was designed to help Colorado households cut their energy costs. It also serves as a complement to the state’s weatherization program. GRID Alternatives was awarded a $1.2million grant by the CEO. The company worked with rural utility companies to develop a network of eight community solar farms that would serve 380 low income households. The demonstration project was a success, so the CEO partnered up with the utilities to leverage their investment.
Sales tax exemption
Solar power is a great option to power your home and save money. Colorado solar panels can be tax exempt. The state's Sales-and-Use Tax Exemption For Renewable Energy Equipment ensures that there is no sales tax on solar panels' prices, nor any increases in value. Talk to a solar professional near you to learn more about this exemption.
You'll also save money on installation costs. Colorado does not impose a sales tax on solar panels, unlike 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. Local governments and utilities will offer you all kinds of incentives, including net meters, power purchasing agreements and other benefits.
Colorado cost of solar panels
Colorado is a great state for solar panel installation. The cost of installing solar panels in your home depends on the size of the system you want, the wattage you require, and the quality of the panels. You can save money by buying high-quality, brand name solar panels rather than cheap imports.
Colorado has solar energy that is far cheaper than traditional utility power. A typical solar power system costs 18 cents per kWh. However, this number does not include the cost of installing a battery, installation, and maintenance. This investment will help you save money in the end. Colorado offers tax credits as well as rebates. The federal government has announced a 26% tax credit on solar power systems by 2020. Public utilities offer incentives to solar power systems that provide energy back into the grid. These incentives are available in the Database of State Incentives for Renewables & Efficiency.
Cost of going solar in Denver
It's crucial to choose a reputable company when you consider installing solar panels for your Denver, Colorado home. A skilled solar contractor will be well-versed in the regulations of your area, including building codes. You should also know about local permits. Choose a top-rated Solar company to avoid delays and complete your project on time.
The federal tax credit will cover 30% of the total cost of a solar installation in Colorado. In addition, many utilities offer rebates and other financial incentives to encourage consumers to install solar panels. Most companies in Colorado will provide incentives based on the kWh produced by your solar panels. The net metering policy can also provide a nice incentive for homeowners.