tax credits and rebates for solar
Good news! There are now three new ways you can save on your solar installations:
- federal tax credits
- state tax credits and incentives and
- utility company rebates
are available to consumers, companies, and municipalities who choose to “go solar.” Solar electric systems are also eligible for “net metering” (see below).
Federal Tax Incentives for Solar
- In general, as of January 1, 2009, previous caps (limits) on tax credits for renewable energy installations have been removed, so consumers can receive a tax credit up to $500 for installations such as solar heating and cooling systems “placed in service” starting January 1, 2009 through December 31, 2009.
- Consumers installing solar photovoltaic (PV) systems can get a 30% tax credit for systems placed in service between January 1, 2006 through December 31, 2016.
More details are available on how the American Recovery and Reinvestment Act of 2009 introduced tax incentives for consumers/homeowners to go solar.
Learn how the Emergency Economic Stabilization Act of 2008 opened up tax incentives for businesses, utilities, and governments to go solar.
For a general overview of Federal tax credits for solar installations, visit the Energy Star webpage for a chart and more information.
State Incentives for Going Solar
Helpful links for Colorado residents and businesses are below. Don’t live in Colorado? Contact your governor’s web site or do an internet search under “[your state] renewable energy credits and rebates”.
- Click here to learn about Xcel Energy rebates under their “Solar Rewards” program
- Click here to learn about Xcel Energy’s net metering program
To keep up on the latest tax incentive and rebate programs in Colorado, use the Governor’s Energy Office’s Financial Incentives webpage.
Utility Company Rebates and Incentives
Contact your local utility company for information on rebates for going solar. Click here to learn more about “net metering” and how you can sell surplus energy generated by solar photovoltaic panels back to the grid.
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