The Real Deal With Solar Rebates
Solar rebates have been around for a while now, and they just keep getting better! That’s right – as of Jan 1, 2023, solar rebates have increased and will stay at their current level through 2032. Here’s a breakdown of what you might be eligible for:
Solar Incentives and Rebates
Federal Tax Credit
There’s been a federal tax credit, the Residential Clean Energy Credit, on solar and solar battery projects since 2006. In 2023, this tax credit rose to 30% of the cost of your solar project after being at 26% for the past several years.
How it works:
Complete your solar project and pay your full invoice. You can enter 30% of that invoice amount on IRS Form 5695 the next time you file your taxes. If you have income and therefore owe taxes on that income, your amount will be reduced from the total taxes you owe. Suppose income taxes are regularly taken out of your paycheck. In that case, you will likely receive a tax refund from this credit.
City of Boulder
If you live in the City of Boulder, you pay a 3.86% sales tax on almost everything you buy within city limits, including your home solar panels! You can get a rebate for a portion of the sales & use tax you paid.
How it works:
After your installation is complete, you can fill out and send in this form: https://bouldercolorado.gov/media/3905/
Additionally, low-income households are eligible for grants of up to $8,000 on a rolling basis for solar projects. Details can be found here: https://bouldercolorado.gov/services/solar-grants
Boulder County
Residents in Boulder County can get up to $200 in cash rebates for a solar PV installation.
How it works:
You must apply for this BEFORE your solar array is installed. Apply here: https://energysmartyes.com/rebates-financing/
City of Denver
If you already have a heat pump or heat pump water heater in your home (we can install these!), you can receive a rebate of $1 per watt, up to $4,000, for your solar project.
How it works:
Your contractor must be registered with the City of Denver rebates program (we are!) and will apply for your rebates on your behalf.
City of Fort Collins
Customers of the City of Fort Collins Utilities can receive a cash rebate of $250/kW up to $1,000 on a solar installation (note: an average residential solar array size is 8 kW).
How it works:
This all needs to go through a short list of approved contractors. Guess what – we’re on the list! Ask us to apply for this rebate on your behalf, and we will send you a form to sign. After your solar installation, we will complete the application, and you can expect to receive a check in 8 to 10 weeks.
Wow, that’s a lot. We know this is complicated, and we’re happy to help! Please get in touch with sales@solarips.com to get your rebate questions answered and your home electrification project started!