Contents
Federal Solar Tax Credits
Homeowners looking to purchase solar energy systems are eligible for a federal solar tax credit.
Most residential solar systems installed before December 31, 2019, were are eligible to receive a 30% tax credit. Starting in 2020, the value of the tax credit will drop to 26% and is expected to drop again to 22% in 2021.
Net Metering Programs
Some services providers have net metering. Net metering is a billing arrangement between property owners and utility companies that allows excess energy generated to be sold back to the grid. This money is usually used as a credit in the next billing cycle. Service providers may have specific requirements homeowners must meet. Remember to ask your provider if credits expire.
Colorado
In Colorado, homeowners enjoy tax-free solar energy systems. Colorado also offers an array of solar incentives and rebates that provide homeowners with additional savings.
Solar Renewable Energy Credits in Colorado
Solar renewable energy credit is another way that helps homeowners for saving on solar energy. However, SREC can only be used after you have purchased the system, which can make the operation very complicated. Some companies like Sunrun hold SRECs and pass the savings on to you in the form of lower kWh rates, while kWh rates pay for power rather than for the panel. You will have all the privileges of enjoying solar energy without taking ownership risks.
Although there are many solar incentives in Colorado, most of them apply only to people who buy their systems. Solar companies know that everyone’s financial situation is different, so they offer you multiple payment options to choose from, all of which can help you save solar energy and save money. Net metering program is available in Colorado.
Local Incentive Programs in Colorado
Many Colorado-based utility companies and local organizations offer cash rebates to homeowners ready to install solar. There are many incentive programs so it’s important to talk to a professional to see what programs you might qualify for has new programs can be initiated throughout the year.
Holy Cross Energy
Holy Cross offers customers rebates per kilowatt (kW) to reduce solar costs. For the first 6 kW, the reward is $750, and for large systems, the reward is reduced. With such a large rebate, homeowners who install an average 6kW system can save $4,500 in installation costs.
Energy Smart Colorado
Installation of solar on homes in Howler Fork Valley, Eagle Valley, and Summit County, with rebates are ranging in excess of $500.
Solar Renewable Energy Credits
(SREC’s)
Solar renewable energy credit is another way that helps homeowners for saving on solar energy. However, SREC can only be used after you have purchased the system, which can make the operation very complicated. Some companies like Sunrun hold SRECs and pass the savings on to you in the form of lower kWh rates, while kWh rates pay for power rather than for the panel. You will have all the privileges of enjoying solar energy without taking ownership risks.
Although there are many solar incentives in Colorado, most of them apply only to people who buy their systems. Solar companies know that everyone’s financial situation is different, so they offer you multiple payment options to choose from, all of which can help you save solar energy and save money. Net metering program is available in Colorado
Pure Energy Solar
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