State ID
Colorado, with over 300 sunny days per year, has tremendous solar potential and is one of the first states in the U.S. to have a Renewable Energy Standard.
Solar Incentives
Rebates of anywhere from $400 to $2,500 are available for solar installations on homes in Pitkin and Eagle counties, Eagle Valley, the Town of Vail, and Summit County. Holy Cross has a per-kilowatt rebate for its customers. The incentive is $500 for the first 6 kW, and is stepped down for larger systems. Homeowners installing an average 6kW system can save $3,000 on their installation cost. Sales and Use Tax Exemption for Renewable Energy Equipment means that there won’t be any sales tax on the purchase of your system. Property Tax Exemption for Residential Renewable Energy Equipment keeps you from having to pay any additional taxes on the increased value of your house. Net metering in Colorado allows customers to offset their energy use and transfer energy back to their electric companies in exchange for a credit. Plus, you qualify for the federal solar tax credit.
Frequently asked questions
FAQ
Growth Projection and Ranking: 3,712 MW over the next 5 years (ranks 11th).
Total Solar Investment in State: 4.8 billion
As of March 2022, the average solar panel cost in Colorado is $3.13/W.
Given a solar panel system size of 5 kW, an average solar installation in Colorado ranges in cost from $13,302 to $17,998, with the average gross price for solar in Colorado coming in at $15,650.
Generally, homes with solar energy systems sell for more than homes without. In most parts of the country, going solar can increase your property’s value by 4.1 to 9.9%, depending on where you live. Please note: The value of your property will only increase if you own, rather than lease, your solar system. However, a leased solar system may increase your home’s marketability.
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