2023 Solar Incentives Guide for Pueblo West, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Pueblo West.
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.
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What Solar Tax Credits, Incentives, and Rebates are Available in Pueblo West?
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
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
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 phrase "solar incentives" includes a wide range of financial incentives designed to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Different types of incentives, such as cash back, discounts or monthly utility bill credits, may be available to you. Some incentives may be handled by the Colorado government, 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: Tax exemptions may come in two forms. First, there is sales tax exemption, applied at the time you purchase your solar panels. The second is property tax exemption, which allows you to exclude the value added by your solar system when paying property tax on your house.
- Net Metering: You may be able to sign a net metering contract with your Pueblo West utility company. This agreement may apply to all or a percentage of the excess electricity your solar panels generate. Your utility company will then deduct this value from your monthly utility bill.
- Tax Credits: Tax credits decrease, dollar-for-dollar, the total amount of tax you owe the government. Tax credits are different from tax deductions.
- Rebates: A solar rebate is a partial refund credited to your account after you've paid for your solar system. Rebates might be offered by your local utility company, your county or your state. The cash back that you get from the rebates is normally applied before calculating tax credits.
Federal Solar Incentives
When someone says "solar incentives," you probably think of federal incentives first. A federal incentive that most people are likely to be familiar with is the Federal Solar Investment Tax Credit (ITC). This is a tax credit for a specific percentage of the cost of your solar system.
The ITC can be applied to the total cost of installing a solar system, including the panels themselves as well as accessories, equipment and labor. This credit can be claimed for panels installed after January 1, 2006 on a primary or secondary residence that you own and that is located in the United States. Originally set at 30% of total costs, the credit has fluctuated over time, and you may qualify for different amounts depending on when your project was completed. There is no maximum claim amount.
To best understand how the ITC may apply to you, contact your local Pueblo West solar panel installer and request more information.
The ITC has been renewed and expanded following the passage of the Inflation Reduction Act in August 2022. It's also now called the Clean Energy Credit. For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners may be eligible for a credit for 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit ends in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
Click here to learn more about the new Inflation Reduction Act. Your local Pueblo West solar panel installer can answer your questions and explain how the new Clean Energy Credit applies to you.
State & Local Solar Incentives
Some solar incentives may be offered at the local or state level. Like with federal incentives, these could include rebates, tax credits and more. Certain incentives are offered for only a limited time, while others are ongoing. Your local solar incentives might come from your county or municipality, or from the Colorado government.
Next Steps for Installing Solar in Pueblo West
The expanding number of available solar incentives has helped tremendously increase the adoption of solar energy nationwide over the last 15 years. You might qualify for solar incentives from the federal government, the Colorado government or from your local utility company. When you're ready to make the switch to solar energy, talking to your local Pueblo West solar panel installation expert is a great first step.
EcoWatch's Pueblo West, CO Solar Incentives FAQs
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