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In Colorado, Xcel Energy currently offers business customers three different reward programs designed to accommodate a variety of system sizes. These programs offer two incentives each with separate payments. One is a standard rebate; the second payment is made to purchase the REC credits produced by your system for a term of 20 years.
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Rebates and Incentives - Residential
Colorado Solar Rebates
Solar Rewards Solar Rebate:
20-30% rebate ($1.00 per DC watt + 10 -Year Solar Produciton Payment of $.09/kWh)
Upfront Xcel cash solar rebate is available for systems from of 1-10kW (DC) in size up to $10,000.00.
(Must be an Xcel Energy electric Customer located in Colorado)
Rebate only available to Xcel Energy Electric Customers
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Sample Cost with Xcel Solar Rewards Rebate
|Installed Cost (3kW PV System)||$15,000.00|
|Xcel Solar Rebate||$3,000.00|
|Cost Before Tax Credit||$12,000.00|
|Est. Fed Tax Credit (30%)||
How did solar PV rebates begin in Colorado?*
In recent years more and more Coloradoans' have begun demanding clean renewable energy. In November of 2004, Colorado voters planted the seeds of a Colorado industry that would grow by more 1,000% in its first few years when they passed Amendment 37.
Colorado Amendment 37
Amendment 37 (A37) mandated that Colorado utilities with more than 40,000 customers generate 10% of their electricity from renewable sources by the year 2015. In addition, it required that 4% of the initial 10% generation come from solar. The rules were finalized in the spring of 2006 and Xcel began issuing solar rebates. A37 is something that the citizens of Colorado can all be proud of as it was the first voter-initiated renewable energy legislation is the U.S., and has played a large part establishing a sustainable renewable energy industry in Colorado!
Colorado House Bill 1281
Governor Bill Ritter was elected to lead Colorado in 2006, after running on a platform that promised to bring more renewable energy to Colorado. In early 2007 Governor Ritter signed into law House Bill 1281 (HB1281) and effectively doubled the original goals of A37 to produce 20% of Colorado's electricity using renewable energy by 2020.
30% Federal Tax Incentive
As part of the 2008 Emergency Economic Stabilization Act, the 30-percent federal investment tax credit has been extended for both residential and commercial solar installations for 8 years (2009-2016). The legislation improves upon the previous 2005 Energy Bill by allowing Alternative Minimum Tax (AMT) filers to take the tax credits and by removing the $2,000 cap for residential solar PV system. We strongly recommend that you contact a professional tax advisor to inquire about your specific situation, when purchasing a solar PV system.
Tax Form 5695 "Residential Energy Credits"
Solar Energy Industries Association - Guide to Federal Tax Incentives
Additional Colorado Solar Incentive Programs & Resources
Boulder County Climate Smart Loan Program:
Up to $40 million in special assessment bonds to help Boulder County residence obtain financing for renewable energy improvements (such as installing a solar power system.) Homeowners can obtain up to $75,000.00 toward the installation of a new solar PV system. Monies will be paid back to the county through property taxes of the next 20 years.
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DSIRE is a website which contains a comprehensive source of current information on state, local, utility, and federal incentives that promote renewable energy and energy efficiency.
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