2024 Solar Incentives Guide for The Pinery, CO - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in The Pinery.
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 The Pinery solar installers to see how much you can save.
Please enter a valid 5-digit zip code!
Why you can trust EcoWatch
What Solar Tax Credits, Incentives, and Rebates are Available in The Pinery?
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The phrase "solar incentives" refers to financial incentives put in place by solar companies and the government to encourage people to use renewable energy by making the installation and use of solar panels more affordable. Incentives could include things like discounts, cash back or credit on your utility bill each month. Some incentives are provided by the federal government, while others are provided by the Colorado government or by your specific utility company, county or municipality. You might qualify for any of the following types of solar incentives:
- Tax Exemptions: These could come in the form of property tax exemptions, which let you exclude the value added by your solar panels when calculating the taxes you pay on your house. You could also look for exemptions on sales tax at the time of purchase.
- Net Metering: Net metering becomes relevant once your solar panels are up and running. If you have in place a net metering agreement with your The Pinery utility company, the company will subtract the value of the excess energy your solar system produces from your utility bill each month. In some locations, this credit is dollar-for-dollar, while in other places you might make back a percentage of the value.
- Rebates: Rebates, or partial refunds after a purchase, are normally applied prior to any solar tax credits being calculated. Solar rebates can be offered by your local utility company, by your state or by your county.
- Tax Credits: Unlike tax deductions, tax credits reduce, dollar-for-dollar, the amount of income tax that you owe the federal government.
Best National Provider
SunPower
- 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
- 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 solar incentives are likely the first thing that comes to mind when you think about solar incentives. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. The ITC is a tax credit equal to a predetermined percentage of the money you spend installing solar panels.
The ITC applies to solar panels installed on your primary or secondary residence in the United States. The solar panels have to have been installed after January 1, 2006, on a property owned by you for you to be eligible for the credit. The ITC initially covered 30% of all system costs (panels, labor, equipment and accessories), although the amount has fluctuated slightly over time between 26-30%. The installation date of your solar system will determine what percentage you are eligible for. There is no cap on the claim amount.
Your local The Pinery solar panel installation expert can give you more information about the ITC and how it might apply to your situation.
In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. For solar systems installed between January 1, 2022, and December 31, 2032, homeowners may be eligible for a credit equal to 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit ends 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 understand how the new Clean Energy Credit applies to you is to reach out to your local The Pinery solar panel company with your questions.
State & Local Solar Incentives
In addition to federal solar incentives, there are often also state ones. Rebates, tax credits and more may be available at a more local level. Incentives might be provided by your county or municipality, or by the state of Colorado. Certain incentives may be available for only a limited time, while others are ongoing.
Next Steps for Installing Solar in The Pinery
You can apply for and receive solar incentives from the Colorado government and the federal government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped increase nationwide solar energy use enormously. Speak with your local solar panel installation expert today to discover more about the various programs and to save the most money possible on a solar system for your The Pinery home.
EcoWatch's The Pinery, CO Solar Incentives FAQs
How do I know if I qualify for different solar incentives?
Broadly, solar incentives apply to:
- a new solar system
- installed on property you own
- within the U.S.
- within the date range specified by a particular incentive.
Specific incentives, including those run by the Colorado government or by your county/municipality, sometimes have additional qualifications. Speak with your local The Pinery solar installer to find out what incentives your project may qualify for.
How much will solar panels save me on my electric bill in The Pinery annually?
On average, homeowners in The Pinery who install solar panels save around $1,066.53 per year, or about $20,264.05 over 20 years after they make the switch.
What are the highest-rated solar panel installation companies near me?
To learn about the top solar panel installers near you, read our article on The Pinery's top solar panel companies.
When does the federal solar tax credit end?
The federal solar tax credit, formerly known as the ITC and now titled 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 apply for incentives both towards the up-front cost of solar panels, and later as reimbursement?
Yes, you can claim both tax credits and rebates towards the cost of your solar panels. Depending on which incentives you are receiving, they may apply in a different order. Make sure that you speak with your solar installer or a local tax professional to confirm that you are claiming the correct incentives and that you're getting the most money you can.
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.