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 September 15, 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/
Solar incentives are designed to make renewable energy usage more affordable via financial incentives for individuals who install solar panels on their homes. Solar incentives could include cash back, upfront discounts or credit towards your monthly 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:
- Net Metering: Make sure you speak with your Security-Widefield utility company about signing a net metering contract. This allows you to get a credit towards your utility bill every month for the value of excess energy your solar panels generate. You could receive either a dollar-for-dollar credit or a percentage of the value.
- Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
- Tax Exemptions: Sales tax exemptions are applied at the time of purchase for your solar system. Property tax exemptions let you ignore the value that your solar panels add when calculating the amount of property tax you need to pay.
- Rebates: A rebate is a partial refund after the purchase of your solar panels. Rebates might be offered by your local utility company, your county or your state. The rebates are usually applied before calculating tax credits.
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Federal Solar Incentives
Federal solar incentives are likely to be the first thing that you think of when thinking about solar incentives. The Federal Solar Investment Tax Credit, or ITC, is likely the most commonly known federal solar incentive. The ITC provides a tax credit for a set percentage of the cost of your solar system.
The ITC can be credited towards the value of solar panels installed on your primary or secondary residence in the United States. The solar panels must have been installed after January 1, 2006 on a property you own for you to claim the credit. The ITC originally paid out 30% of all costs (panels, labor, equipment and accessories), although this amount has fluctuated over the last few years between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the amount you can claim.
To more fully understand how the ITC could apply to your situation, get in touch with your local Security-Widefield solar panel installation expert and request more information.
In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. 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. The credit will then see a slight annual decrease until its expiration. 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. To better understand how the new Clean Energy Credit might apply to you, talk to your local Security-Widefield solar installation expert.
State & Local Solar Incentives
There are often also state solar incentives in addition to those provided by the federal government. Rebates, tax credits and more can be offered at a more local level. These solar incentives — which might be provided by the state of Colorado, or by your county or municipality — could be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Security-Widefield
There are a variety of solar incentives: those offered by local utility companies, those offered by the federal government and those offered by the Colorado government, to name a few. Solar energy use has increased enormously in the last 15 years, thanks to these incentives. If you're prepared to switch over to solar energy, calling your local Security-Widefield solar panel installation expert is an excellent place to start.
EcoWatch's Security-Widefield, CO Solar Incentives FAQs
How do I learn if I qualify for different solar incentives?
It's a smart idea to get in touch with your local Security-Widefield solar installer to get an understanding of which incentives your project may qualify for. In most cases, solar incentives apply to new solar panel systems installed on property you own (in the U.S.) between the dates specified by the incentive. Some incentives, such as those offered by the government of Colorado, may have other requirements.
How much will a solar system save me on my electric bill in Security-Widefield annually?
After adding solar panels to your house in Security-Widefield, you can anticipate savings of about $1,223.79 per year, or about $23,252.01 over the next 20 years.
Who installs solar panel systems near me?
To discover the best solar panel installation companies near you, read our article on the top solar companies in Security-Widefield.
If I trade in my appliances for ones that can utilize solar energy, are there credits that I can claim?
The new Inflation Reduction Act creates a number of new financial incentives for making eco-friendly improvements to your home. More details about these incentives, including information about incentives for purchasing new appliances, can be found here.
Can I use solar and another type of renewable energy in combination to power my home?
Yes, you can use multiple types of renewable energy to power your home, such as a combination of solar and wind power. You can also use both renewable energy sources and a backup source of non-renewable energy. Make sure that you 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 incentives you will or won't 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.