ALL THE BATTERY STORAGE REBATES AVAILABLE IN COLORADO
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As more Colorado homeowners invest in solar energy, the demand for battery storage systems is growing rapidly. Several rebates and incentives, including the Xcel Renewable Battery Connect rebate, are currently available in Colorado to make installing a battery storage system more affordable.
Battery storage rebates are financial incentives offered by utility companies, the government, and state programs to encourage you to invest in battery storage systems. These rebates reduce the initial cost of installing a battery system, making it easier for you to afford a battery system and enhance the efficiency of your solar panels.
For Colorado residents, this means that installing a battery storage system can save money on energy bills and provide significant financial incentives that lower upfront costs.
Federal
Thanks to the Inflation Reduction Act (IRA), you are eligible for a 30% tax rebate on your battery storage system.
- This includes, labor, permitting fees and inspection.
- The credit is applied retroactively, for projects completed between January 1, 2022. It is available through 2032
- There are no income or location restrictions
- There is no cap on the total spent.
Colorado State
Colorado offers a 10% tax credit for eligible battery equipment This is in addition to your Federal IRA rebate and any potential utility rebates. You will file a DR 1307 form
Xcel Energy is incentivizing customers who’ve added solar charged battery systems to their home or business through their program called Renewable Battery Connect. They are offering this program to help keep the grid reliable.
When you participate, Xcel will provide upfront incentives that include:
- $500 per kW of energy storage installed (up to 50% of the equipment-only cost) We have seen it average about $5750 rebate, which can be stacked with the Federal rebate.
- $100 annual participation incentive for participating in control events (for 5-years)
Eligibility
- You are an Xcel Energy customer
- Our installers use the eligible Tesla Powerwall 3
- You agree to allow Xcel Energy to discharge up to 60% of your battery capacity, up to 60 times a year.
- You maintain the connection of your Tesla battery through a cellular or high speed connection.
Denver Action Climate Rebate
Residents in Denver who own a single family home, duplex, and townhome are eligible for the Denver Action Climate Rebate.
- 80% of the project cost, up to $500 (available to all residents)
- 80% of the project cost, up to $2,750 (only available if you have a heat pump, heat pump water heater, or bidirectional EV charger installed).
The City Of Fort Collins is currently offering $150kWh capacity, up to $3,000. You must use an approved contractor. The great news is, Independent Power is approved! You can learn more about the program here.
The short answer is yes, it’s worth it, especially if you want to maximize the benefits of solar panels. With more extreme weather events shutting down the grid system, you’ll be able to keep your home or business running.
With the rebates available and the improvements in battery technology, the long-term savings and benefits make battery storage a valuable investment.
