2024 Solar Incentives Guide for Fountain, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Fountain.
You'll learn about:
- Local & State Solar Incentives
- Federal Tax Credits (Updated for 2024 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 Fountain solar installers to see how much you can save.
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Updated February 03, 2024
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What Solar Tax Credits, Incentives, and Rebates are Available in Fountain?
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
Local Option - Sales and Use Tax Exemption for Renewable Energy Systems
Mountain View Electric Association, Inc - Energy Efficiency Rebates Program
Energy Star LED Bulbs: 50% of cost
Residential Appliances
Refrigerator/Freezer: $30/unit plus $60/unit if recycled
Dryer: $30-$90
Clothes Washer: $30-$40
Dishwasher: $20
Water Heater: $50-$350/unit
Marathon Electric Water Heater: $200/unit plus $2/gallon
Air Conditioner: $100-$150
Geothermal Heat Pump: $500/ton
Geothermal Heat Pump Replacement: $250
Thermal Storage: $16-$20/kW Air Source Heat Pump: $300-$450/ton
Packaged Terminal Heat Pump: $85/unit
Commercial Lighting
LED/Induction Street Lighting: 25% of cost
LED Refrigerated Case Lighting Retrofit: 50% of cost
Other Lighting Incentives: Vary, see program website
Colorado Springs Utilities - Renewable Energy Rebate Program
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
Property Tax Exemption for Community Solar Gardens
San Isabel Electric Association - Residential Energy Efficiency Rebate Program
Clothes Washer: $70-$80
Clothes Dryer: $80-$90
Dishwasher: $50
Refrigerator/Freezer: $80
Refrigerator/Freezer Recycling: $60
Water Heaters: $20-$350
Roof, Wall, and Floor Insulation: 60% of cost
Air Conditioners: $50-$150
Electric Thermal Storage Unit: $40/kWh
Electric Thermal Storage Thermal Slab: $12/unit
Geothermal Heat Pump: $500/ton (new installation) or $250/ton (replacement)
Air Source Heat Pump: $300-$450/ton plus $100/unit for integrated ETS backup
Terminal Air Source Heat Pump: $85/ton
Property Tax Exemption for Residential Renewable Energy Equipment
Colorado Springs Utilities - Residential Energy Efficiency Rebate Program
Natural Gas Furnace: $250
Natural Gas Water Heater: $50
Insulation & Air Sealing: 40% of job cost, up to $200
Refrigerator/Freezer Recycling: $50
Smart Thermostats: $50
LED lighting: in-store discounts
Irrigation Equipment: Up to $50
Solar Panels: $0.20 per AC Watt
Green Colorado Credit Reserve
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
Residential Energy Upgrade (RENU) Loan Program
City of Boulder - Solar Sales and Use Tax Rebate
Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program
Local Option - Property Tax Exemption for Renewable Energy Systems
Black Hills Energy - Solar Power Program
Systems sized 30.001 kW - 500 kW: $0.060 per kWh is paid over a 10-year period
Southeast Colorado Power Association - Energy Efficiency Rebate Program
Electric Heat Pump (Central Air Source): $300-$475/ton plus $100/unit for ETS backup, $85/unit for terminal units
Geothermal Heat Pumps: $550-$600/ton
Air Conditioners: $100-$150/unit
Commercial LED Lighting: Varies
LED Lamps: lower of $8/lamp or fixture or 50% of cost
Water Heaters: Varies, see website
Refrigerators/freezers: $80/unit plus $60/unit additional for refrigerator/freezer recycling
Clothes Washers: $80-$90/unit
Clothes Dryers: $30-$90
Dishwashers: $20-$40/unit
Irrigation Motors: $10/HP plus $1.50/HP wiring assistance if the motor replaces a fossil fuel engine or is a new installation
Variable Speed Drive Retrofit: Lesser of 50% of cost or $20,000/project
Low Income Weatherization: up to $500
Electric Thermal Storage Units: $20/kW
Thermal Slab: $12/kW
Black Hills Energy (Electric) - Residential Energy Efficiency Program
Heat Pump Ductless Mini Split: $300
Central A/C: $250-$550
Ground Source Heat Pumps: $1,500
Evaporative Cooler: $100-$1000
Heat Pump Water Heater: $500
Attic Insulation: $0.35/sq. ft.
Wall Insulation: $0.65/sq. ft.
Air Sealing/Duct Sealing: 50% of cost
Appliance Recycling: $50
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" generally refers to financial incentives put in place by solar companies and the government to encourage people to use renewable energy by making the installation and use of solar panels more affordable. Incentives can include things like discounts, cash back or monthly utility bill credits. Some incentives are provided by the federal government, while others are provided by the state of Colorado or by your specific utility company, county or municipality. Categories of solar incentives include:
- Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
- Net Metering: You may be able to sign a net metering contract with your Fountain utility company, that may apply to all or a percentage of the excess electricity that is generated by your solar panels. Your utility company will then subtract this value from your utility bill each month.
- Tax Exemptions: Your solar system could qualify for exemptions on both sales and property tax. Sales tax exemptions are applied at the time of purchase. Property tax exemptions allow you to ignore the value that solar panels add when you are calculating property taxes on your home.
- Rebates: Rebates, or partial refunds after a purchase, are normally applied prior to any solar tax credits being calculated. Solar rebates may be offered by your local utility company, by your county or by your state.
Best National Provider
SunPower
- 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
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Federal Solar Incentives
Federal incentives are the kind of incentives that you are most likely to have some knowledge of. 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 specific percentage of the cost of your solar system.
The ITC was originally for 30% of the cost of solar panel installation, although that number has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total installation cost includes the panels themselves as well as the cost of labor, equipment and accessories. There is no maximum claim amount. The ITC applies to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
To better understand how the ITC may apply to your situation, get in touch with your local Fountain solar panel installer and request more information.
In August 2022, the ITC (now called the Clean Energy Credit) was bolstered by the passing of the Inflation Reduction Act. The new Clean Energy Credit now runs until 2035. Homeowners can now apply for a 30% credit for solar systems that began installation on or after January 1, 2022, and will be done by December 31, 2032. This credit will then see a slight annual decrease until its expiration. The expansion also makes claiming credit for energy storage systems easier than ever before, starting in 2023.
Click here to learn more about the new Inflation Reduction Act. Your local Fountain solar panel company can answer any questions you have and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Tax credits, rebates and more might be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones, too. Some incentives are ongoing, while others are offered for only a limited time. Your local incentives might come from the Colorado government, or from your specific county or municipality.
Next Steps for Installing Solar in Fountain
Solar incentives can come from your local utility company, the federal government or the Colorado government. The large number of incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. If you're prepared to make the switch to solar energy, calling your local Fountain solar panel installation expert is an excellent place to start.
EcoWatch's Fountain, CO Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
It's best to speak with your local Fountain solar installer to get an understanding of which incentives your project may qualify for. Generally, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, like those provided by the Colorado government, may have other requirements.
Who installs solar panels near me?
To find the best solar panel installers near you, take a look at our article on the top solar companies in Fountain.
What are some environmental benefits of installing solar panels on my house?
Solar energy is a renewable energy source — by changing where you get your energy, you help lessen the strain on our planet's resources. A solar system can also lower the CO2 emissions from your home by 500 pounds yearly, or roughly 11,000 pounds over 20 years.
What if I am planning to add a solar system to a vacation home, rental property or commercial property? Can I still qualify for incentives?
Many solar incentives apply to a property you own that is located within the United States; most secondary residences fall into this category. Other solar incentives may be available for commercial properties, depending on the specifics. We recommend talking to your local solar installer and/or tax professional to better understand what incentives will apply to your specific situation.
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.