Xcel energy solar incentives. Fort Collins Utilities Solar Rebates

Solar Incentives to Take Advantage of Today

One of the biggest reasons homeowners make the switch to renewable energy is to experience savings on their utility bills. Customers in e very state are eligible for federal tax credits. but state s have differen t incentives to make solar even more attractive. Blue Raven Solar currently operates in 18 states and provides installation services at low cost. W e help our customers access and fully utilize every benefit of generating their own power.

T he largest solar incentive is the 30% federal investment tax credit (ITC). Recently adjusted in 2022. through the Inflation Reduction Act. the credit percentage increased and delay ed the previous plan to reduce and eventually phase out. This credit is available to all residential customers and allows them to receive a credit equivalent to 30% of the cost of their solar panel system. including energy storage. on their federal income taxes.

State Rooftop Solar Incentives, Rebates, and Credits

Learn more about your state’s rooftop solar policies:

Colorado solar owners can benefit from net metering, tax exemptions, and different rebates from local utility companies.

Excess energy produced by solar panels can be purchased from homeowners by investor-owned utility companies – the two in Colorado being Xcel Energy and Black Hills Energy. For residents who receive services from other investor-owned utility companies, excess energy is credited at retail rate indefinitely.

Colorado’s 2.9% sales tax is waved on all solar equipment, which can save homeowners a few hundred dollars when considering an installation. Property taxes are also not increased when going solar.

Several utility companies in Colorado have rebates and solar incentives specific to homeowners. Contact your current utility provider for more information.

• EnergySmart Colorado: The rebate is for up to 25% of your total system cost or 5000,500, whichever is lower.
• Holy Cross Energy: Get a rebate of 250 per kilowatt for the first 6 kW and 100 per kW for the next 19 kW.

• Black Hills Energy: Homeowners have access to a rebate program providing an incentive of.03 per kWh for systems under 30 kW. This incentive is paid out over 10 years.
• Xcel SolarRewards Program: For systems under 25kW, homeowners can receive.005 per kWh generated.

All photovoltaic equipment, including panels, inverters, batteries, and more are exempt from the Sunshine State’s 6% sales tax, and all homeowners are exempt from an increase in property tax when installing solar.

Contact your local utility provider for more details on the different loan, grant, and rebate programs available.

• Boynton Beach Energy Edge Rebate Program: Residents of Boynton Beach can get up to 450,500 in rebates for installing solar PV equipment and up to 500 back for EV charger installations.
• Dunedin Solar Energy Rebate Grant Program: Homeowners in Dunedin can apply for this solar grant, which provides cash-back incentives of.25 per watt installed, for a maximum of 5000,500 (10 kW).
• Orlando Utilities Commission (OUC) Residential Energy Efficiency Rebate Program: OUC customers can get rebates of up to 5000,000 for battery installations.

• Lakeland Electric Residential Battery Rebate: Customers of Lakeland Electric can get up to a 50% rebate — up to 450,000 — for solar battery and other home storage installations.

Florida’s net metering policies apply to solar owners who are customers of investor-owned utility companies, like Duke Energy, Florida Power and Light, Tampa Electric Company, and Florida Public Utilities Corporation. Though the state has attempted to overturn net metering policies, the most recent attempt in April 2022 was vetoed by Governor DeSantis.

These policies allow homeowners to be credited for excess energy production and after 12 months, unused credits are bought back at the utility’s avoided cost rate.

Local Solar Battery Rebates

In Colorado, some utility companies and other local organizations offer cash rebates to homeowners who install solar systems on their property.

• Xcel Battery Rebate: Xcel Energy is offering a 5000,500 rebate per Powerwall plus 100/​year (up to five years) for opting into their virtual power plan. This is in addition to the 30% federal tax credit.
• Tesla Powerwall Rebate: To celebrate the global milestone of 500,000 Powerwalls installed, Tesla is offering a 500 rebate on any Powerwall 2 or Powerwall commissioned through October 31, 2023. To get the rebate, the customer will submit directly within the Tesla app once their battery is commissioned and monitoring is set up. This rebate is direct from Tesla and is handled within the Tesla App during the rebate period.
• Colorado State Tax Credit: Colorado is offering a 10% tax credit available on eligible Powerwall equipment. This tax credit is available through the DR-1307 form.
• Energy Smart Colorado: Depending on your home’s location, they offer rebates for solar installations ranging from 400 to 3,000.
• Holy Cross Energy: To reduce the cost of solar system installations, Holy Cross offers customers a per-kilowatt (kW) rebate of 750 for the first 6 kW. Homeowners with an average 6 kW system can save up to 4,500 on installation costs.
• Black Hills Energy: As part of their ​ “ Ready EV” program, Black Hills Energy is now offering a 500 credit towards electric vehicle chargers for your home or business. See their website for more details.
• Speak with one of our solar professionals at (720) 370‑3344 to learn more about available solar rebates in your area.

Colorado State Sales Tax Exemption

With Colorado’s sales tax exemption, homeowners who install solar energy systems are not taxed on their system components, which can save hundreds of dollars.

How it works:

Residential solar power system components are not taxed in Colorado. The exemption only applies to sales and use taxes imposed by the states, not those imposed by incorporated towns, cities and counties.

Some of the eligible components include:

• Turbine generators
• Rotors and blades
• Solar modules and trackers
• Supporting structures or racks
• Inverters
• Balance of system components
• …and more

Some of the ineligible components include:

• Step-transformers at the production site
• Energy storage
• Remote monitoring systems

Note: The sales tax exemption does not include labor.

Net Metering

Net metering is a solar billing incentive that allows homeowners to benefit from every ounce of energy their solar panel system produces. Essentially, if your solar panels generate more power than you use, you’ll be credited by your utility company toward future energy bills.

How it works:

During your solar panel installation process, you can choose to have your existing meter swapped out for a net meter. Net meters run backward when your system produces more energy than your home is using — storing credits for when your home is using more energy than your solar panels are producing.

In return, a net metering policy will credit you for the extra electricity your system produces and allow you to use those credits when your system doesn’t produce enough power. These credits can be carried over month after month.

Utilities

All utilities in Minnesota are required to have net metering. In the Gopher State, net metering policies allow a homeowner to receive full retail credit for any excess kWh’s produced by their solar system. Projects are capped at 40 kW, but most homeowners will fall way below this system size anyway.

Xcel, the state’s largest utility, has a Solar Rewards program for its customers looking to install a PV system. Homeowners can earn 8 cents per kWh that their system produces through the program.

To participate, they must not receive incentives through the Made in Minnesota program (more on this later) and must assign the renewable energy credits (RECS) their system produces to their utilities for the next 10 years.

Minnesota Power has an incentive program that allows solar customers to get paid out up to 94 cents per kWh their system produces. The SolarSense program is first to come first serve, and can not exceed 20,000 or 60% of the total system cost.

Otter Tail Power offers a solar incentive program to its customers for 450,250 per kilowatt of their system, not exceeding 50% of the system costs. For a 5kW system, that’s 6,250 off the cost of a system for a homeowner!

Beyond the investor-owned utilities, most public utilities in Minnesota have incentive programs for solar customers as well. Below is a list:

• Owatonna Public Utilities – 50 per installed watt (500 per kW) of solar up to 10 kW systems.
• Rochester Public Utilities – 50 per installed watt (500 per kW) of solar up to 10 kW systems.
• Austin Utilities – 50 per installed watt (500 per kW) of solar up to 10 kW systems
• Brainerd Public Utilities – Rebates at 5000/watt installed, up to 4,000; systems limited to
• Moorhead Public Service Utility – Up to 450,500 per kW installed
• New Ulm Public Utilities – 450 per watt, for new systems up to 40 kW, capped at 5000,000 per project.
• Dakota Electric – Rebate of 50 per watt for installed capacity, Does not exceed 4,000

Made in Minnesota

If you are a homeowner in one of the big three investor-owned utilities (Xcel, Minnesota Power, and Otter Tail Power) who purchases solar equipment made in Minnesota, you can also qualify for the Made in Minnesota (MiM) solar incentive.

The incentive is performance-based, and the incentive amounts vary based on the type of solar system and size. Applicants are selected through a lottery process, and residential homeowners can earn up to.14 cents to.27 cents per kWh the system produces. They are paid out annually each year for the next 10 years.

The Federal Solar Tax Credit (Federal ITC)

After rebates and incentives are calculated, homeowners can claim the Federal Solar Tax credit on their system. The ITC covers 30% of the overall system cost and includes upgrades needed on their home in order to go solar. Check this video to know more about Federal Solar Tax Credit.

For Minnesotans, now is the perfect time to take advantage of all these incentives and go solar!

The BIG one: The Federal Solar Tax Credit

In addition to the local Colorado solar incentives listed below, all homeowners can also take advantage of the federal tax credit for solar. Thanks to the Inflation Reduction Act, the federal solar tax credit is at 30% and will remain there until 2032.

Customers of City of Fort Collins Utilities can receive up to 450,000 (250/kW) for a residential solar system installation or 50,000 for a commercial solar system installation. The rebate amount is calculated based on the amount of electricity the new system generates (

Colorado Springs Utilities Renewable Energy Rebates

Customers of Colorado Springs Utilities can receive a rebate of

Xcel Energy SolarRewards® Program

Xcel Energy customers may be eligible to receive payments in exchange for Renewable Energy Credits (RECs), paid in cents per kilowatt hour (¢ per kWh). Note that not many of our customers enroll in this program, but our home solar advisors can help you determine if this solar incentive program is a good option for you.

Energy Smart Colorado collaborated with Colorado communities to offer rebates for residential and commercial solar. Homeowners can receive up to 4,000 for their solar panel installation, depending on which county they live in. Businesses who install solar should connect with Energy Smart Colorado to learn more about rebates available in your community.

.10 per watt that their new solar panels generate. Tax credits and rebates could cover up to 40% of the system costs. To be eligible for this rebate, the minimum size of the system is 500 watts AC (the maximum size is 120% of the customer usage and 15 kW AC for residential and 100 kW AC for business).

The City of Boulder offers solar incentives for both homeowners and businesses, including the following.

• Solar Grant Program: The city offers solar grants to residents based on income and to nonprofit organizations who install new rooftop solar systems. Grant applications are first come, first serve rolling acceptance.
• Solar Tax Rebates: Residents and businesses that install solar energy systems and pay city sales tax may be eligible for rebates on city taxes.

.50 per watt). Any system must be owned by a Fort Collins Utilities electric customer and be larger than 500 watts.

Homeowners who go solar in Fort Collins can also receive credit for the extra electricity generated through net metering and Fort Collins Utilities’ new time of use rate.

Holy Cross Energy Renewable Energy Rebates

Residents who install renewable energy systems, including solar, are eligible for a rebate from Holy Cross Energy. They offer an incentive equal to 40% of the installed cost (up to 500 per kW for the first 25 kW installed) for non-taxable entities that install solar.

Are you wondering how to get the best deal on your home solar panel system with Colorado solar incentives and rebates? Or perhaps you have questions about solar financing? Our non-commissioned solar advisors and utility coordinators are here to answer your questions and discuss your financing options. We take care of all the details for going solar, and our team can even help you navigate the applications for your solar incentives and rebates, so you get the best deal.

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