Join Colorado’s Solar Leadership
Colorado solar is motivated by protecting the environment, reducing electricity costs, building a dependable grid and promoting a renewable energy economy. Today, the goal of 14 towns and counties across the state is to have 100% clean renewable energy.
Denver is already a solar star. Environment Colorado ranks Denver ninth for solar energy installed out of 69 cities nationwide.6 And Aspen and Glenwood Springs are both completely powered by renewable energy.7,8 Reducing electricity costs while minimizing our carbon footprint is energizing solar adoption. Plus, economic incentivizes to go green make it a smart decision.
State Policies Fire Up Solar
Colorado is driving toward 100% renewable energy use by 2040. The state’s recent guidance “Roadmap to 100 percent Renewable Energy and Bold Climate Action”10 outlines efforts to fast track home solar including:
- Requiring utilities to evaluate retiring coal-fired power plants, and allowing customers to donate solar energy credits to reduce other’s bills.
- Launching a $12 million Renewable/Clean Energy Challenge grant to spark local government goals.
- Expanding the RENU program that has financed over $2.7 million in residential solar loans.11
- Passing legislation allowing utility customers to install energy storage equipment and export excess electricity to the grid. So soon you’ll be able to buy you own home solar battery to include with your rooftop solar panel system.
Take Control Of Energy Costs
Colorado homeowners pay about 12 cents per kilowatt-hour, comparable to the national average. But, the average forecasted cost over the next 25 years will be 22 cents per kilowatt-hour.1 Reduce your costs and attain energy security today with solar.
The average cost of Colorado solar panels is $3.25/watt. A typical 6 kilowatt system is $19,500, and $13,656 after the federal tax credit.12 A typical solar installation in Colorado has an average lifetime savings of $53,171. And an average-sized system has a payback period of just nine years, so count on up to 16 years of free electricity while your panels are under a 25-year warranty.1
Colorado Solar Incentives Put the Power in Your Hands
Colorado has the potential to produce hundreds of times as much solar energy as it consumes,13 and some of the country’s best incentives to keep it powered.9
Colorado solar incentives include the Renewable Portfolio Standard (RPS) to have 30% of all energy generation from local renewable resources by 2020. If utilities like Xcel don’t meet these mandates, they’re charged. So, it’s to their advantage to offer solar incentives like Xcel’s Solar*Rewards.1, 14
Net metering15 is another key to Colorado’s solar success. It ensures a credit, either in energy or cash, for the excess electricity your system produces. So, with smart energy usage, you can actually turn a profit on your monthly bills.1 Xcel Energy offers Colorado’s top net metering program.16
Colorado’s Sales and Use Tax Exemption for Renewable Energy Equipment17 removes any sales tax on your system purchase. Plus, the Property Tax Exemption for Residential Renewable Energy Equipment18 eliminates having to pay additional taxes on the increased value of your house.9
And, if you’ve recently purchased a new home, or are in the market, Colorado will help pay your mortgage if you install a solar system within the first 120 days of buying.16 This program offers loans from $750 to $3,000.
While there is not a specific Colorado solar tax credit,13 local governments and utilities offer significant residential solar rebates1 such as:
Colorado Residential Solar Rebates
| Utility Company |
Rebate Amount |
|---|
| Colorado Springs Utilities |
$0.20 per watt rebate. Depending on the installation, up to 40% of the total system cost can be covered by rebates (cash value returned to customers) and tax credits (for reduction in local taxes). |
| La Plata Electric Association |
For systems 10 kilowatt or smaller, customers can receive a one-time upfront cash payment valued at $16 per kilowatt. |
| San Miguel Power Association |
Rebate of $0.25 per watt for a maximum amount up to 3kilowatts or $750 (cash value returned to customers). /p>
|
**Customer’s ability to monetize rebates, incentives and tax credits depends on several factors, including, without limitation, continued state subsidization of these policies, the applicable Sunrun product type, and whether a customer purchases or leases a solar system from Sunrun.
One of the best solar incentives across the U.S. is the federal solar tax credit.20 In 2019, the tax credit is 30% off your entire system cost. So, an installation that costs $15,000 out of pocket will qualify for a tax deduction of $4,500. Yet, the tax credit drops to 26% in 2020 then 22% in 2021, and it goes away in 2022 for residential customers. Now is the time to buy solar panels in Colorado.
Incentives are making Colorado a hotbed for residential solar. See the Database of State Incentives for Renewables and Efficiency (DSIRE)20 for information on all available solar incentives.
Go Solar in Colorado Your Way
Sunrun’s Colorado solar plans work with your budget and lifestyle to create the best energy solution for you. Own a system on your terms with BrightBuy.21 Just pay a one-time upfront cost to gain complete ownership and incentives. Or, purchase a system on your terms via BrightAdvantage’s22 hassle-free loan, low fixed interest rate and no upfront payments.
Alternatively, choose a solar lease. With BrightSave Monthly.23 You save on electric bills for $0 down and lock in low, predictable monthly payments for 25 years. Or, maximize savings with BrightSave Prepaid24 and enjoy worry-free electricity without monthly bills for the next 25 years at today’s lower rates with one simple, upfront payment.
Also, Solar Renewable Energy Credits (SRECs)25 help Coloradans save if you purchase a system. Yet, Sunrun can also offer you this perk with a BrightSave lease by passing the savings on to you through lower electricity rates that pay for power, not the panels.26
Sunrun is Colorado’s Local Solar Company
The sun is our most powerful energy resource. Now is the absolute best time to go solar in Colorado27 and achieve energy security.28 Sunrun solar panels offer affordable, dependable electricity so you can get out and enjoy those sundrenched Colorado vistas and have cash in your pocket for more adventure.
When you’re ready to talk rooftop solar, contact us for a free quote.29 See why your neighbors have chosen Sunrun. We are committed to being you local solar power company in Colorado. Sunrun’s large Denver headquarters has solar advisors who understand your priorities, state incentives and the best solar system for your home.
