2023 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 2023 and beyond)
- Ways to optimize your solar investment
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What Solar Tax Credits, Incentives, and Rebates are Available in Fountain?
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
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
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
Residential Energy Upgrade (RENU) Loan Program
Green Colorado Credit Reserve
Eagle, Garfield, Gunnison, Lake, and Pitkin Counties - Energy Smart Colorado Loan Program
Black Hills Energy - Solar Power Program
Systems sized 30.001 kW - 500 kW: $0.060 per kWh is paid over a 10-year period
Colorado Springs Utilities - Renewable Energy Rebate Program
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
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
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
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
Mountain View Electric Association, Inc - Energy Efficiency Rebates Program
Energy Star LED Bulbs: 50% of cost
Refrigerator/Freezer: $30/unit plus $60/unit if recycled
Clothes Washer: $30-$40
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
LED/Induction Street Lighting: 25% of cost
LED Refrigerated Case Lighting Retrofit: 50% of cost
Other Lighting Incentives: Vary, see program website
San Isabel Electric Association - Residential Energy Efficiency Rebate Program
Clothes Washer: $70-$80
Clothes Dryer: $80-$90
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
Federal Residential Renewable Energy Tax Credit
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.
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
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.