2024 Solar Incentives Guide for Glenwood Springs, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Glenwood Springs.
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.
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What Solar Tax Credits, Incentives, and Rebates are Available in Glenwood Springs?
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
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
Holy Cross Energy - Renewable Energy Rebate Program
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
Solar incentives are designed to make renewable energy usage more affordable via financial incentives for those who install solar panels on their homes. Different kinds of incentives, including cash back, discounts or monthly utility bill credits, might be available to you. Some incentives may be provided via the Colorado government, by your utility company or by county or municipality, while others are federal. Some solar incentives you might qualify for are:
- Rebates: Your solar installer might help you claim a rebate, or partial refund of your purchase, for your solar system. Counties or states will also sometimes offer limited-time rebates. If you receive a rebate, that amount will usually be deducted from your total price before tax credits are calculated.
- Net Metering: Net metering factors in after your solar system is up and running. If you have a net metering agreement with your Glenwood Springs utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some locations, this is a dollar-for-dollar credit, while in other areas you may make back a percentage of the value.
- Tax Exemptions: Tax exemptions can come in one of two forms. First, there is sales tax exemption, which is applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to ignore the value added by your solar system when calculating property tax for your home.
- Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the government.
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 type of incentives that you are most likely to have heard of. You might have heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a predetermined percentage of the money you spend on solar panels for your home.
The ITC initially applied to 30% of the total cost of installing solar panels, and has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The cost of installation includes the panels themselves as well as the cost of labor, equipment and accessories. There is no maximum amount you can claim. The ITC can be applied to solar systems installed after January 1, 2006, on your primary or secondary residence. The residence must be in the United States and owned by you.
Reaching out to your local Glenwood Springs solar panel installer is the best way to learn more about how the ITC may apply to you.
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. Now, solar installation projects begun after January 1, 2022, and finished by December 31, 2032, might qualify for a 30% tax credit. The amount of the credit will then decrease slightly each year until the current Clean Energy Credit expires in 2035. The expansion to the program also makes claiming credit for energy storage systems easier than ever before, beginning in 2023.
Click here to learn more about the new Inflation Reduction Act. The best way to fully understand how the new Clean Energy Credit might apply to you is to reach out to your local Glenwood Springs solar panel installation expert with your questions.
State & Local Solar Incentives
Some solar incentives are often also provided by state and local governments. Similar to federal incentives, these can include rebates, tax credits and more. Incentives might be given by your county or municipality, or by the state of Colorado. Certain incentives are available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in Glenwood Springs
There are many types of solar incentives: those offered by local utility companies, those provided by the federal government and those offered by the Colorado government, to name a few. The use of solar energy has grown enormously in the last 15 years, partially thanks to these incentives. We suggest talking to your local Glenwood Springs solar installation company for more information about these incentives and to make sure that you're getting the largest number possible for your solar panels.
EcoWatch's Glenwood Springs, CO Solar Incentives FAQs
How do I learn if I qualify for solar incentives?
Broadly, solar incentives apply to:
- a new solar panel system
- installed on a property that you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those given out by the Colorado government or by your county/municipality, may have additional qualifications. Talk to your local Glenwood Springs solar installer to discover what incentives your project may qualify for.
What are some environmental benefits of adding solar panels to my home?
Solar energy is a renewable energy source — by switching where you get your energy, you can 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 around 11,000 pounds over 20 years.
When does the federal solar tax credit end?
The federal solar tax credit, previously called the ITC and now called the Clean Energy Credit, is scheduled to end on January 1, 2035. The current 30% credit will end in 2032, replaced by a 26% credit in 2033 and a 22% credit in 2034.
Can I receive incentives both towards the up-front cost of solar panels, and later as reimbursement?
The order that incentives will be applied in may vary depending on which incentives you are claiming but typically yes, you can receive multiple types of incentives for your solar project. Check with your solar installer or a local tax professional to ensure you are claiming all the incentives you qualify for and applying them in the correct order.
What if I add solar panels to a rental property, vacation home or commercial property? Will I still qualify for incentives?
While we recommend speaking with your local solar installer and/or tax professional to better understand what solar incentives apply to you, many incentives can be claimed on a second home, provided that it is in the United States and owned by you. There may be other incentives available for commercial properties specifically, depending on the specifics.
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.