2023 Solar Incentives Guide for Broomfield, CO - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Broomfield.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Broomfield solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated March 14, 2023

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We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Broomfield?

Property Tax Exemption for Residential Renewable Energy Equipment

Incentive Type:
Property Tax Incentive
100% exemption for renewable energy system property

Sales and Use Tax Exemption for Renewable Energy Equipment

Incentive Type:
Sales Tax Incentive

Eagle County - Energy Smart Colorado Renewable Energy Rebate Program

Incentive Type:
Rebate Program
Residential
PV: 50% up to $500
Solar Thermal: 50% of project costs
Commercial
50% of project costs

City of Boulder - Solar Sales and Use Tax Rebate

Incentive Type:
Sales Tax Incentive
~15% refund on sales and use tax for the solar installation

Roaring Fork Valley - Energy Smart Colorado Renewable Energy Rebate Program

Incentive Type:
Rebate Program
PV: 25% of cost
Solar Water Heat: $25% of cost
Solar Thermal Tune-up: 25% of project cost
Micro-hydro and Geothermal: 25% of cost

Property Tax Exemption for Community Solar Gardens

Incentive Type:
Property Tax Incentive
100% exemption for the percentage of electricity capacity (AC) of a community solar garden attributed to residential or governmental subscribers or organizations that are already exempt from property taxes

Xcel Energy - Solar*Rewards Program

Incentive Type:
Performance-Based Incentive
Systems 0.5 kW - 25 kW: $0.005/kWh
Medium-sized Systems 25.1-500 kW: $0.0375/kWh
Large Systems (>500kW): Determined through competitive bid

Local Option - Sales and Use Tax Exemption for Renewable Energy Systems

Incentive Type:
Sales Tax Incentive
Varies (local option)

Local Option - Property Tax Exemption for Renewable Energy Systems

Incentive Type:
Property Tax Incentive
Varies (local option)

Efficiency Works - Residential Energy Efficiency Rebate Program (Offered by 4 Utilities)

Incentive Type:
Rebate Program
Air Sealing: $300-$500
Insulation: Up to $1,815
Duct Sealing: $200 (gas-heated homes only)
Window Replacement: Up to $1,000
Air Handler Blower Motor: $150
Whole House Mechanical Ventilation: 20% of cost
Heat Pumps: $500
Replacement Furnace: $300-$500 (gas-heated homes only)
Ductless Mini-Split: $250/head
Replacement Gas Boiler: $300 (gas-heated homes only)
Replacement Water Heater: $100-$500
AC System: $150-$500
Whole House Fan: $275
Evaporative Cooler: $500

United Power - Residential Energy Efficient Appliance Rebate Program

Incentive Type:
Rebate Program
CFL Recycling: FREE
New Energy Star Refrigerator/Freezer: $30
Refrigerator/Freezer Recycling: $75
New Energy Star Clothes Washer: $40
New Energy Star Dishwasher: $20
New Electric Thermal Storage Units (on automated Time-of-Day control panel): $4-$16/kW
New Electric Thermal Slab (on automated Time-of-Day control panel): $4-12/kW
Water Heaters: $20-$400
Terminal Unit for Heat Pump A/C Units: $75-$85/Unit
Heat Pumps: $100-$450/ton
Geothermal Heat Pumps: $200-$500/ton

Air Conditioners: $100-$150

Xcel Energy - Residential Energy Efficiency Financing

Incentive Type:
Loan Program
Up to $50,000

Xcel Energy - Residential Energy Efficiency Rebate Programs

Incentive Type:
Rebate Program
Refrigerator Recycling: varies, contact utility for details
Natural Gas Furnace: $300
EC Motor in New or Existing Furnace: $100
Air Conditioning/Air Source Heat Pump: $300-$600
Mini-Split Heat Pump: $300
Water Heater: $70-$450
Evaporative Cooling: $200-$1,200
Attic Insulation: $350-$600
Wall Insulation: $350-$600
Air Sealing, bypass sealing, and weather-stripping: $175-$450
Ground Source Heat Pump: $300/ton
Smart Thermostat: $50

Xcel Energy - Home Performance with ENERGY STAR

Incentive Type:
Rebate Program
Attic Insulation: $400-$700
Air Sealing/Bypass Sealing/Weather-Stripping: $250-$550
High Efficiency Lighting: 30% of cost
Wall Insulation: $450-$700
Evaporative Cooling System: $325-$1200
Central Air Conditioner (New): $400 - $700
Central Air Conditioner (Trade In): $550
Ground Source/Geothermal Heat Pump: $300 per ton
Electric Heat Pump Water Heater: $550
Programmable Thermostat: $25
High Efficiency Furnace: $400
Electrically Commuted Motor: $125
Tankless Water Heater: $200
Standard Tank Water Heater: $100
ENERGY STAR Refrigerator: $15
ENERGY STAR Clothes Washer: $30

Residential Energy Upgrade (RENU) Loan Program

Incentive Type:
Loan Program
$35,000

Green Colorado Credit Reserve

Incentive Type:
Loan Program
$250,000

Xcel Energy - Solar*Rewards Community Program

Incentive Type:
Performance-Based Incentive
2015 Large RFP Program:
Determined through competitive bid. RFP released on March 3, 2016

Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program

Incentive Type:
Loan Program
$25,000

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives are meant to help mitigate the cost of installing solar panels on your home. Financial incentives like these are in place to encourage more homeowners to switch to renewable energy. You might qualify for various types of incentives, such as cash back, discounts or credit towards your monthly utility bill, depending on your situation. Certain incentives come from your specific utility company, county or municipality, some from the state of Colorado and others from the federal government. Categories of solar incentives include:

  • Tax Exemptions: Sales tax exemptions are effective at the point of sale for your solar panels. Property tax exemptions allow you to ignore the value added by your solar system when calculating the amount of property tax you need to pay.
  • Tax Credits: Tax credits are dollar-for-dollar reductions that lower the amount of income tax you owe the government. (This is different from a tax deduction.)
  • Rebates: A rebate is a partial refund after the purchase of your solar system. These could be offered by your local utility company, your county or your state. The rebates are usually applied before tax credits are calculated.
  • Net Metering: You can sign a net metering agreement with your Broomfield utility company that will apply to all or a percentage of the excess electricity your solar panels generate. They will then subtract this value from your utility bill each month.

Federal Solar Incentives

Federal solar incentives are probably the first thing that you think of when thinking about solar incentives. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit that reduces your taxes by a specified percentage of the money you spend on your solar system.

The ITC is applied to the total cost of solar panel installation, including the panels themselves as well as labor, accessories and equipment. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence located in the United States that you own. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum amount you can claim.

Your local Broomfield solar panel installation expert can provide you with more information about the ITC and how it might apply to your situation.

The ITC was both renewed and expanded by the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit re-raises the credit up to 30% for solar systems installed between 2022 and 2032. After 2032, the percentage will decrease slightly each year until the program expires in 2035. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems under the new laws.

Click here to learn more about the new Inflation Reduction Act. Your local Broomfield solar panel installation experts can answer your questions and explain how the new Clean Energy Credit applies to you.

State & Local Solar Incentives

In addition to those provided at the federal level, there are often also state solar incentives. Rebates, tax credits and more may be available at a more local level. These incentives might be given out by your county or municipality, or by the Colorado government. Some are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Broomfield

There are many kinds of solar incentives: those offered by the federal government, those offered by the Colorado government and those offered by local utility companies, to name a few. The use of solar energy has increased enormously in the last 15 years, thanks to these incentives. Your local Broomfield solar panel installation expert can help you learn more about which incentives you might qualify for, and get you on track to switch to renewable energy today.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

EcoWatch's Broomfield, CO Solar Incentives FAQs

How much can I save annually on my electric bill if I install solar panels on my Broomfield home?

When you add solar panels to your house in Broomfield, you can anticipate savings of approximately $1,005.20 per year, or approximately $19,098.86 over the next 20 years.

Who installs solar panel systems near me?

To find the top solar panel installers near you, read our article on Broomfield's top solar panel companies.

What are some environmental benefits of installing solar panels on my home?

You can lower your carbon footprint by 500 pounds of CO2 annually by installing solar panels. This adds up to roughly 11,000 pounds in 20 years. In addition, solar power is a renewable energy source, meaning that making the switch lessens the drain on our planet's resources.

Can I apply for incentives both towards the initial cost of solar panels, and later as reimbursement?

Yes, you can receive both rebates and tax credits towards the cost of your solar panels. Depending on precisely which incentives you are claiming, they may apply in a different order. Be sure to talk to your solar installer or a local tax professional to ensure that you are claiming incentives correctly and that you're getting the most money possible.

Can I use a combination of solar and another type of renewable energy to power my home?

Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of wind and solar. You can also combine renewable energy generation with a backup source of non-renewable energy. You should discuss the details of your plan with your local Broomfield solar panel installer, to get an understanding of what will be needed and what incentives you will or won't qualify for.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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