2023 Solar Incentives Guide for Security Widefield, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Security Widefield.
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.
Get a free quote from one of our trusted Security Widefield solar installers to see how much you can save.
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Updated March 14, 2023
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What Solar Tax Credits, Incentives, and Rebates are Available in Security Widefield?
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
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
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" broadly refers to financial incentives implemented by the government and by solar companies to encourage increased use of renewable energy by making the installation and use of solar panels more affordable. The incentives might include cash back, upfront discounts or monthly credits towards your utility bill. Some incentives are offered by the federal government, some by the Colorado government and some by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Tax Credits: Tax credits lower, dollar-for-dollar, the amount of income tax you owe the government. These differ from tax deductions.
- Rebates: Solar rebates might be provided by your local utility company, or by your state or county. These rebates work as partial refunds that are applied after your purchase of solar panels and before tax credits are calculated.
- Net Metering: Net metering is an incentive you can get once your solar panels are up and running. If you've signed a net metering agreement with your Security Widefield utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some areas, this credit is dollar-for-dollar, while in others you may receive a refund equivalent to a percentage of the value.
- Tax Exemptions: These can come in the form of property tax exemptions, which let you exclude the value added by your solar panels when paying property tax on your house. You could also look for exemptions on sales tax at the time of purchase.
Federal Solar Incentives
Federal solar incentives are probably the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is probably the best-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of your solar system's cost.
The ITC was originally for 30% of the cost of installing a solar system, and 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 cost of installation 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 find out exactly how much money the ITC could save you, contact your local Security Widefield solar panel installation expert.
In August 2022, the Inflation Reduction Act expanded and extended the ITC, now called the Clean Energy Credit. The new Clean Energy Credit is valid until 2035. Homeowners are now eligible for a 30% credit for solar systems installed between 2022 and 2032. This credit will then decrease annually until it expires. Starting in 2023, the program 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 best understand how the new Clean Energy Credit will apply to you, speak with your local Security Widefield solar installation company.
State & Local Solar Incentives
Tax credits, rebates and more can be provided at multiple levels. On top of federal solar incentives, there are often state and local ones as well. These incentives may be provided by the Colorado government, or by your county or municipality. Certain incentives are ongoing, while others are available for a limited time.
Next Steps for Installing Solar in Security Widefield
Solar incentives may be offered by your local utility company, the federal government or the Colorado government. The growing number of solar incentives available has helped nationwide use of solar energy increase greatly in the last 15 years. Reach out to your local solar panel installer today to learn more and to save the most money possible on solar panels for your Security Widefield home.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries (coming 2022)
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Security Widefield, CO Solar Incentives FAQs
Can I claim incentives for adding solar panels to a rental property, vacation home or commercial property?
While we recommend speaking with your local solar installer and/or tax professional to fully understand what solar incentives apply to you, many will apply to a second home, as long as it is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the details.
If I already have solar panels, can I still claim incentives?
An excellent idea would be to talk to a representative from the company that installed your solar system — or speak to a local Security Widefield solar installer — to learn about which incentives you might qualify for. If your solar panels were installed after January 1, 2022, you likely qualify for the recently increased 30% tax credit under the Inflation Reduction Act. Solar panels installed between 2006 and 2021 may qualify for a tax credit of 26-30%.
What are the best solar panel installation companies near me?
To find a top-rated solar panel installer, check out our guide to Security Widefield's best solar panel companies.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly named the federal solar tax credit, or ITC), is slated to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.
Can I use a combination of multiple types of renewable energy to power my home?
Yes, you can employ multiple types of renewable energy to power your home — for example, a combination of solar and geothermal. You can also use both renewable energy sources and a non-renewable backup source of energy. You should discuss the details of your plan with your local Security Widefield solar panel installer, to get an understanding of what will be needed and what kinds of incentives you may or may not qualify for.
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.