Colorado Leads the Way with Solar Tax Incentives
Colorado is a solar powerhouse. In the top ten in terms of solar power production, Colorado continues to make clean energy a top priority.1 The proof’s in the numbers—Colorado invested $305 million in solar projects in 2015,2 showing just how serious it is about going solar.
Colorado Solar Incentives, Rebates, & Tax Credits
|Solar Savings Types
||Value of Savings
|Colorado Solar Renewable Energy Credits (SREC)
||Based on product
|Federal Solar Tax Credit (ITC)
||30% of the total system cost
**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.
SRECs in Colorado
Solar renewable energy credits, or SRECs, are another way that Colorado helps homeowners save on solar.3 However, SRECs are only available when you purchase your system, and that can get complicated fast. That’s why Sunrun is here to make your life easier with our solar lease, BrightSave™. We’ll hold the SRECs and pass the savings onto you in the form of a lower kWh rate that pays for the power, not the panels. You get all the perks of going solar, without the risk of ownership.
Federal Investment Tax Credit
On top of all of Colorado state solar incentives, you’ll also be eligible for the Federal Investment Tax Credit, otherwise known as the ITC, if you buy your own solar system outright. The tax credit amounts to 30% of the cost of purchasing your solar system, but only after deducting the value of your state rebates. However, ITC credits will begin stepping down from 30% at the end of 2019. The tax credit for systems in service after 12/31/19 will drop to 26%. After 12/31/20, it’ll drop even further to 22%.4 That’s why the time to go solar is now. But not to worry—we can help you maximize on all the solar savings available to you.
There’s an Easier Way to Save on Solar in Colorado
Despite Colorado’s many solar incentives, most of them are only available to those who purchase their system. Here at Sunrun, we understand that everyone's financial situation is different, so we give you a choice of payment options—all of which help you go solar and save money. See why other customers have chosen to go solar with Sunrun. Want to see how much you could save? Get your free quote today.