Does solar make sense in Colorado?
The short answer? ABSOLUTELY! Colorado is ripe with incentives that enable the solar homeowner to possibly save a lot on the cost of energy. There are even credits for some residents of Denver and the surrounding areas that may put some extra money in your pocket. There are rebates available for residents of Boulder and Colorado Springs too. Colorado is a great place to go solar and there has never been a better time to do it.
Should Colorado homeowners buy or lease?
A general rule of thumb: You could save more money and may qualify for solar incentives if you buy your solar system. If you pay cash or you have the credit to take out a loan, buying your system is the best option. You’ll get a higher return on investment than you would with a lease.
However, if you don’t want to finance your solar, then leasing is the way to go. Regardless of how you lease it, solar can save you money over sticking with your utility company.
If you lease a solar system, then the credits and rebates go to the company you leased your system from.
Leasing solar in Colorado can still be a better option than doing nothing. Whether you buy or lease, the benefits of generating your own clean energy at a lower cost than buying electricity from a utility still make it a smart choice.
Statewide incentives for going solar in Colorado
Colorado net metering pays the homeowner for any excess electricity fed into the system. Excess electricity is the difference between how much power you generate versus how much power you use. You produce excess electricity when you use less power than you consume.
Property tax and sales taxes: The good news is that the state offers property tax and sales tax deferments for solar. Solar energy improvements are exempt from property tax assessments in some areas. Going solar may add value to your home, but you won’t be assessed for the value of the solar if property tax assessment is deferred.
Solar rebates in Colorado vary by utility company
Depending on which utility company you are served by, you may be eligible for solar rebates. A rebate may be paid directly to you in the form of a bill credit or in some cases by check. Some rebates are paid out as a flat fee, others are paid by the watt or kilowatt hour.
Freedom Forever can’t advise you on your eligibility for these rebates. You should talk to a Freedom Forever Independent Authorized dealer in your area to see if you qualify. Some towns in Colorado will refund 100% of their solar installation permit fee. You should talk to a Freedom Forever Independent Authorized dealer to find out if this is offered where you live.
Xcel Energy customers may be eligible for solar performance payouts
Performance payouts can pay you for the energy your system produces on an ongoing basis. If you live in Denver, Boulder, Littleton, or any city served by Xcel Energy, Xcel may help you with your installation costs and pay you for every kilowatt-hour of energy you generate. To take advantage of Xcel’s solar performance payouts, you must act quickly! These payouts will be phased out as solar energy production goals have been met.
Freedom Forever is here to help Colorado go solar
As you can see, solar incentives and rebates make going solar in Colorado a no brainer. To ensure that you’re able to take advantage of all the incentives available, you should talk to a Freedom Forever Independent Authorized Dealer. Just give us a call at the number below and we’ll connect you with an Independent Authorized Dealer in your area.
Ready to go solar in Colorado? Call us at 888-557-6431 or click below
No statement contained herein shall constitute tax or legal advice. You should consult a legal or tax professional on any such matters.