Going solar in Colorado can be a great way of saving money and reducing your carbon footprint. But it is essential to fully understand the options. Learn more about Denver's community solar programs. It's possible to go solar in Colorado for a very affordable price.
Community solar programs
Colorado is the top state in America for community solar that is equity-oriented. Xcel Energy (the state's biggest utility) has also agreed to participate with the state in community solar projects. These community solar projects are designed to help lower electricity bills for residents and businesses in the state.
In 2015, the Colorado Energy Office began a demonstration project that demonstrated the feasibility and viability of community solar models for low income households. This demonstration project will help Colorado households lower their energy bills and complement the state's weatherization program. The CEO provided a $1.2million grant for GRID Alternatives. GRID Alternatives worked with rural utilities and developed a portfolio consisting of eight community-based solar projects that reached 380 low-income families. 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 sales and use tax exemption for renewable energy equipment in Colorado means you won't have to pay any sales tax on the cost of your panels as well as any value increase. Talk to a professional solar installer in your area to find out more about the exemption.
It will also help you save money on your installation costs. Unlike other states, Colorado doesn't levy sales tax on solar panels. You can also use your solar tax credit as a way to offset installation costs. Due to the solar tax credit, property taxes won't be due if solar panels aren’t producing any electricity. Local governments and utilities will offer you all kinds of incentives, including net meters, power purchasing agreements and other benefits.
Cost of installing solar panels in Colorado
Colorado is a top state when it comes to solar panel installs. The size, wattage, and quality of the solar panels you choose will affect the price. It is cheaper to purchase high-quality panels made by a brand-name manufacturer than to import cheap panels.
Compared to utility power, solar energy is significantly cheaper in Colorado. A standard solar power system will cost you 18 cents/kWh. However, this price does not include costs for installation of a battery or maintenance. This investment will pay off in the long term. In Colorado, you can also get tax credits or rebates. Federal authorities have announced a 26% tax credit for solar energy systems by 2020. Also, public utilities often offer incentives for solar systems that feed energy back into the grid. These incentives can also be searched in the Database of State Incentives for Renewables & Efficiency.
Denver solar cost
It's crucial to choose a reputable company when you consider installing solar panels for your Denver, Colorado home. A competent solar contractor will know the local regulations, including building codes. Local permits should also be a part of their knowledge. A top-rated solar company can help you avoid delays, and will ensure that your project is completed on time.
The federal credit will cover 30% for the total cost of a Colorado solar system. Many utilities offer rebates, incentives and other financial incentives for consumers who want to put solar panels on their roofs. Colorado companies will offer incentives based upon the amount of kWh generated by your solar panels. For homeowners, the net-metering policy may be a great incentive.