2023 Solar Incentives Guide for Fort Lupton, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Fort Lupton.
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 Fort Lupton solar installers to see how much you can save.
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Updated May 04, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Fort Lupton?
Property Tax Exemption for Residential Renewable Energy Equipment
Sales and Use Tax Exemption for Renewable Energy Equipment
Eagle County - Energy Smart Colorado Renewable Energy Rebate Program
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
Roaring Fork Valley - Energy Smart Colorado Renewable Energy Rebate Program
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
Xcel Energy - Solar*Rewards Program
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
Local Option - Property Tax Exemption for Renewable Energy Systems
Efficiency Works - Residential Energy Efficiency Rebate Program (Offered by 4 Utilities)
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
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
Xcel Energy - Residential Energy Efficiency Rebate Programs
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
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
Green Colorado Credit Reserve
Xcel Energy - Solar*Rewards Community Program
Determined through competitive bid. RFP released on March 3, 2016
Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers to financial incentives designed to encourage increased use of renewable energy by making installing and using solar panels more affordable. You might be eligible for various kinds of incentives, including cash back, discounts or credit towards your monthly utility bill, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Colorado and others from the federal government. Some broad categories of solar incentives include:
- Tax Credits: Tax credits are dollar-for-dollar reductions (not deductions) in how much in taxes you owe the federal government.
- Net Metering: Net metering factors in after your solar panels are up and running. If you have in place a net metering agreement with your Fort Lupton utility company, it will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some areas, this credit is dollar-for-dollar, while in other places you may make back a percentage of the value.
- Tax Exemptions: Your solar panel system may qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions let you exclude the value added by your solar panels when you are calculating property taxes on your home.
- Rebates: Solar rebates might be offered by your state or county, or by your local utility company. These rebates work as cash back that is applied after your purchase of a solar system and before tax credits are calculated.
Federal Solar Incentives
When you hear the term "solar incentives," federal incentives are likely the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is probably the most well-known federal solar incentive. The ITC provides you with a tax credit for a set percentage of your solar system's cost.
The ITC covers solar systems installed after January 1, 2006 and under this program you can deduct from your taxes a percentage of the total cost of solar panels, accessories, labor and equipment. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. Originally, you could claim 30% of the total cost, although depending on when the project was completed, your credit may range from 26-30%. There is no maximum claim amount.
Your local Fort Lupton solar panel installer can provide you with more information about the ITC and how it applies to your situation.
The ITC was renewed and increased in scope after the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. The Clean Energy Credit lasts until 2035. Any solar installation project that is completed between January 1, 2022 and December 31, 2032 may qualify for a 30% tax credit. This amount will be decreased slightly each year until the end of the current program. Beginning in 2023, it will also be easier to qualify for credits for energy storage systems under the new laws.
More information about the new Inflation Reduction Act can be found here. Your local Fort Lupton solar panel installer can answer your questions and explain how the new Clean Energy Credit may apply to you.
State & Local Solar Incentives
Not all solar incentives are federal; tax credits, rebates and more may be offered at the state and local level. Certain incentives are ongoing, while others are offered for only a limited time. These local incentives might come from your county or municipality, or from the Colorado government.
Next Steps for Installing Solar in Fort Lupton
Solar incentives might be provided by the Colorado government, the federal government or your local utility company. The variety of solar incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. Reach out to your local solar panel installation company today to learn more and to save as much money as possible on a solar system for your Fort Lupton home.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
EcoWatch's Fort Lupton, CO Solar Incentives FAQs
My home already has solar panels installed. Does my system qualify for any incentives?
If your solar panels were installed after January 1, 2022, you may qualify for the recently increased 30% tax credit under the Inflation Reduction Act. If your system was installed between 2006 and 2021, you may qualify for a tax credit between 26% and 30%, depending on the date of installation. Reaching out to the company that installed your system, or any local Fort Lupton solar installer, can help you learn what incentives you qualify for.
How much can I save annually on my electric bill if I install solar panels on my Fort Lupton home?
When you add solar panels to your home in Fort Lupton, you can anticipate savings of approximately $1,043.77 per year, or approximately $19,831.66 over the next 20 years.
What are the top solar panel installation companies near me?
To find the best solar panel installation companies near you, read our article on the best solar companies in Fort Lupton.
What are the environmental benefits of switching to solar?
You can decrease your carbon footprint by 500 pounds of CO2 a year by installing solar panels. This adds up to approximately 11,000 pounds over 20 years. Solar is also a renewable energy source, meaning that switching your home over reduces the drain on our planet's resources.
Can I apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?
The order your incentives will be applied in could vary depending on which incentives you are eligible for but generally yes, you can claim multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to make sure you are claiming all the incentives you are eligible for and applying them in the correct order.
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.