Going solar in Colorado is a great way to save money and reduce your carbon footprint, but it is important to understand the different options. Learn about community solar programs, Sales tax exemptions, and how much solar panels cost in Denver. It is possible to go green in Colorado.
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 projects will help to lower the electricity bills of residents and businesses throughout the state.
In 2015, the Colorado Energy Office launched a demonstration project to show the feasibility 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 gave a $1.2million grant to GRID Alternatives. This group worked with rural utilities in order to create a portfolio of eight solar projects for low-income households. The CEO formed a partnership and leveraged the investments of the utilities after the demonstration project was completed.
Sales tax exemption
Solar power can be a great way of saving money and powering your home. Colorado's solar panels are tax exempt. State's Sales and Use tax exemption for Renewable Energy Equipment allows you to avoid paying sales taxes on the price of solar panels, or any increase in value. You can find out more about this exemption when you speak to a solar professional in your area.
Also, you'll save money on installation. Colorado doesn't have a sales tax for solar panels like other states. This means that installation costs can be lower and you will be able to use your solar credit credit to offset those costs. You won't be required to pay any taxes if your panels don't generate electricity. You'll also receive all sorts of incentives from local governments, such as net metering and power purchasing agreements.
Colorado costs to install solar panels
Colorado is known for its excellent 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. It is cheaper to purchase high-quality panels made by a brand-name manufacturer than to import cheap panels.
Solar energy in Colorado is much cheaper than utility power. A standard solar power system runs at 18 cents/kWh. However, the price of installing a solar power system, maintenance, and installation is not included. You will save money over the long-term by making this investment. Furthermore, in Colorado, tax credits and rebates are available to you. Federal authorities have announced a 26% tax credit for solar energy systems by 2020. Public utilities also often offer incentives to solar systems that are able to feed back energy into the grid. These incentives are available in the Database of State Incentives for Renewables & Efficiency.
Cost of going solar in Denver
You should choose a reputable company to install solar panels at your Denver home. A good contractor will have a thorough understanding of the regulations in your region, including electrical codes and building codes. A good contractor should be familiar with local permits. Choose a top-rated Solar company to avoid delays and complete your project on time.
The federal credit will cover 30% for the total cost of a Colorado solar system. Many utilities also offer rebates or other financial incentives to encourage solar panel installation. Colorado has many companies that offer incentives based on how many kWh your panels produce. You can also get an incentive from the net metering law for homeowners.