Have you ever wondered why you see so many homes and businesses installing solar panels? Since you live in Colorado, you’re probably already used to living in a more progressive community. Colorado is one of the most forward-thinking states in the country.
But what incentives are there to install solar in Colorado? Can your home really benefit from solar energy? What about your bank account?
We’re here to provide some insight. Keep reading for the top reasons you should consider hiring solar installers in Colorado today.
Sales and Property Tax Exemptions
It’s hard to beat Colorado solar incentives. As noted earlier, this state is incredibly progressive, and is, therefore, willing to reward homeowners handsomely for making the switch to green energy.
To help you save on your solar costs, the state of Colorado will waive any sales taxes associated with the purchase of your solar energy system and the installation fees. This can help you save hundreds of dollars.
Secondly, the state of Colorado won’t penalize you with increased property taxes after installing solar panels. In most cases, solar panels can add as much as 4.1% to a home’s value. However, you won’t be paying for this improvement in your equity.
Local Rebates
In certain cities, it makes even more sense to go solar in Colorado. For example, the Holy Cross Energy Rebate Program hands out $750 for the first 6kW of production power on smaller systems. For larger systems, homeowners can expect to save nearly $4,500 in total.
There’s also the Energy Smart Colorado rebate program where people can save $400-$3,000 based on where they live. This program is available for people in Eagle Valley, Roaring Fork Valley, and Summit County.
Net Metering
Next, lets’ take a look at net metering, one of the most exciting colorado solar incentives. Net metering monitors the amount of energy you produce each month and rewards homeowners with a cash reward based on that amount. You can make hundreds of dollars a year, on top of the hundreds you save on your energy bill.
To take advantage of this program, reach out to a solar installation company in your area.
Federal Tax Credits
Finally, let’s take a look at how the federal government rewards homeowners who choose to go solar in Colorado. Right now, and through 2022, you can get a 26% tax credit for your solar installation costs.
For example, if you outfit your home with a full-powered solar system for $14,000, you can get over $3,600 back from Uncle Sam. This is the government’s way of encouraging people to switch to green, renewable energy.
This is essential for two reasons. First, we are slowly running out of fossil fuels. Second, the burning of fossil fuels for energy has damaged our planet immensely and it’s time to start making a change.
Thinking About Going Solar in Colorado?
What do you think, is solar worth it in Colorado?
As you can probably tell, we think going solar in Colorado is a fantastic idea with plenty of financial benefits. However, you need to make your own choice based on your personal circumstances. If you come to the same conclusion, start looking for the best solar companies in Colorado today.
For more homeowner tips and green energy information, stick around. Look through some of our other articles before you go to find more valuable insight.