Is There A Colorado Credit For Solar Panels

Way to go lawmakers.

Is there a colorado credit for solar panels.

3 however srecs are only available when you purchase your system and that can get complicated fast. The residential renewable energy tax credit as the irs calls it can be an attractive way to save on the significant cost of installing solar panels or roofing an average sized residential solar. Luckily colorado has a net metering policy that credits you for the extra electricity your system produces and allows you to use those credits when your system doesn t generate enough power. Lots of sunlight state rebates property and sales tax exemptions plus the federal government 30 tax credit for the whole installed cost of your system are compelling reasons to go solar in colorado.

Colorado ranked 11th in the nation for installed solar capacity with 925 8 mw of solar energy installed as of 2016. Colorado is one of the best states to live in and because the people who live there care about the natural environment it s also one of the best places to add solar panels to your home. According to the solar energy industries association. It s 2020 and the state of home solar in colorado is strong.

The solar energy sector in colorado has created new opportunities in electricity generation research and development and manufacturing. We ll hold the srecs and pass the savings onto you in the form of a lower kwh rate that pays for. The federal solar tax credit also known as the investment tax credit itc allows you to deduct 26 percent of the cost of installing a solar energy system from your federal taxes. Solar renewable energy credits or srecs are another way that colorado helps homeowners save on solar.

Colorado has long been a leading state in the national initiative for solar power and renewable energy. The itc applies to both residential and commercial systems and there is no cap on its value. 100 of electricity now needs to come from carbon free renewable sources by 2050. Net metering in colorado.

Residents of the most populous areas continue to benefit from xcel s solar rewards program which pays extra for solar credits over 20 years. When you put solar panels on your roof you want to make sure you get credit for all of the power your system generates.