2024 Solar Incentives Guide for Golden, CO - Tax Credits & Rebates

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

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 Golden solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated February 03, 2024

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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 Golden?

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

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

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

Incentive Type:
Sales Tax Incentive
Varies (local option)

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

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

Sales and Use Tax Exemption for Renewable Energy Equipment

Incentive Type:
Sales Tax Incentive

Xcel Energy - Residential Energy Efficiency Financing

Incentive Type:
Loan Program
Up to $50,000

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

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 Community Program

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

Property Tax Exemption for Residential Renewable Energy Equipment

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

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

Green Colorado Credit Reserve

Incentive Type:
Loan Program
$250,000

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

Residential Energy Upgrade (RENU) Loan Program

Incentive Type:
Loan Program
$35,000

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

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

Incentive Type:
Loan Program
$25,000

Local Option - Property Tax Exemption for Renewable Energy Systems

Incentive Type:
Property Tax Incentive
Varies (local option)

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 designed to make renewable energy usage more affordable through financial incentives for those who install solar panels on their homes. Various kinds of incentives, including cash back, discounts or monthly utility bill credits, might be available to you. Certain incentives may be handled by the state of Colorado, by your utility company or by county or municipality, while others are federal. You might qualify for any of the following types of solar incentives:

  • Tax Exemptions: Your solar panel system might qualify for exemptions on both sales and property tax. Sales tax exemptions come into effect at the time of purchase. Property tax exemptions let you ignore the value that solar panels add when you are calculating property taxes on your home.
  • Net Metering: You can sign a net metering agreement with your Golden utility company that will 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 monthly utility bill.
  • Rebates: Rebates, or cash back after a purchase, are typically applied prior to any solar tax credits being calculated. These rebates can be offered by your local utility company, by your state or by your county.
  • Tax Credits: Unlike tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.

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

Best for Leasing

Sunrun

★★★★★
4.0

  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Federal Solar Incentives

When someone says "solar incentives," you likely think of federal incentives first. You've likely heard of the Federal Solar Investment Tax Credit, or ITC. This incentive is a tax credit equal to a predetermined percentage of the money you spend on solar panels for your home.

The ITC originally covered 30% of the cost of solar system installation, although it has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. 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 can be applied to solar panels installed after January 1, 2006, on your primary or secondary residence. The residence must be owned by you and in the United States.

To understand exactly how much money the ITC could save you, get in touch with your local Golden solar panel installer.

In August 2022, the ITC (now referred to as the Clean Energy Credit) was bolstered by the passing of the Inflation Reduction Act. For solar system installations that begin after January 1, 2022, and are completed by the end of 2032, homeowners can receive a credit equal to 30% of the total cost. This percentage will decrease annually after 2032 until the Clean Energy Credit expires in 2035. Starting in 2023, the expansion will also make claiming credit for energy storage systems easier than ever before.

Click here to learn more about the new Inflation Reduction Act. To understand how the new Clean Energy Credit will apply to you, reach out to your local Golden solar installation expert.

State & Local Solar Incentives

Federal solar incentives are not your only option; tax credits, rebates and more might also be offered at the state and local level. These incentives may be offered by the Colorado government, or by your county or municipality. Some are ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Golden

You can apply for solar incentives from the federal government and the Colorado government, as well as from your local utility company. Growing availability of solar initiatives in the past 15 years has helped increase nationwide solar energy use enormously. Your local Golden solar panel installer can provide you with more details about which incentives you may qualify for, and get you feeling good about making the change to renewable energy today.

EcoWatch's Golden, CO Solar Incentives FAQs

How do I know if I qualify for solar incentives?

It's a good idea to talk to your local Golden solar installer to get an understanding of which incentives your project may qualify for. Usually, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, such as those provided at the level of the Colorado government, may have additional requirements.

My home already has solar panels installed. Are there any incentives that I qualify for?

You should plan to talk to someone from the company that installed your solar panels – or speak to a local Golden solar installer — to clarify which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the newly increased 30% tax credit under the Inflation Reduction Act. Solar systems installed between 2006 and 2021 may qualify for a tax credit of 26-30%.

What are some of the environmental benefits of switching to solar energy?

You can lower your carbon footprint by 500 pounds of CO2 annually when you install solar panels. This adds up to roughly 11,000 pounds in 20 years. Solar is also a renewable energy source, which means that making the switch reduces the drain on our planet's resources.

When does the federal solar tax credit end?

The federal solar tax credit, formerly known as 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.

If I switch my appliances out for ones that can use solar energy, are there any benefits that I can claim?

With the passage of the new Inflation Reduction Act, there are several new financial incentives to encourage you to make eco-friendly improvements to your home. More details regarding these incentives, including information about incentives for purchasing new appliances, can be found here.

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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