Despite paying a number of the lowest electric bills in the US, Colorado residents are more and more choosing solar panels to save money on energy bills and decrease family carbon emissions. The photo voltaic trade in Colorado is rising due to federal and state incentives. The Inflation Reduction Act has additionally utilized a serious 30% tax credit on all clear power additions to households nationwide. Switching to photo voltaic power has by no means been simpler.
Colorado has additionally made it simpler to change to scrub power, due to native incentives. It has a robust net metering coverage that lets householders get energy from the grid when their photo voltaic panels do not generate sufficient to energy their family. There’s additionally a property tax exemption, which implies you will not need to pay any taxes on the worth the photo voltaic panel system provides to your property.
If you are eager about going photo voltaic in Colorado, these are the best solar installers to keep watch over.
The greatest nationwide photo voltaic firms in Colorado
We’ve compiled a listing of photo voltaic panel firms that excel in the trade. Here are a number of top national solar companies that function in Colorado, as scored by CNET’s consultants. As with most massive tasks, it is a good suggestion to get a number of quotes earlier than making a call.
Palmetto Solar
Best total
Solar panels are usually low upkeep gear, however they’re additionally unfamiliar. If you wish to reap the advantages of photo voltaic however may have a bit extra peace of thoughts if another person is ensuring it is working, Palmetto is perhaps a very good match for you. Just keep in mind so as to add the price of Palmetto’s monitoring service in to your payback interval calculations.
EnergyPal
Most versatile
EnergyPal is greater than only a intermediary. It’ll deal with your photo voltaic set up from starting to finish whereas additionally permitting you to profit from its proprietary engine and aggressive bidding course of. The firm presents a variety of {hardware} for panels, batteries and inverters, has plentiful financing choices and presents responsive customer support assist.
Freedom Forever
Best for money clients
Include Freedom Forever in your search if you need the backing of a nationwide firm that installs all kinds of the preferred photo voltaic gear accessible. Freedom Forever additionally extends a few merchandise that take a number of the ache and threat out of going photo voltaic, like a manufacturing assure and an escrow possibility with money purchases. Online critiques say buyer satisfaction has been low of late, although the corporate says that is altering.
Tesla Solar
Most inexpensive
Tesla’s photo voltaic department appears to be the least beloved of Elon Musk’s ventures. Even Tesla’s Solar Roof appears to get extra love.
If value is the factor you will not budge on, take into account Tesla. By all accounts, Tesla installs high quality panels and makes the closest factor there’s to a family title in photo voltaic storage: the Powerwall.
Where you would possibly miss out is customer support. Discussion on-line appears to recommend Tesla’s service is a little bit of a chance.
Local photo voltaic installers in Colorado
Established in 2018, Solar Wave claims that it has established a enterprise mannequin that eliminates gross sales fee to go financial savings on to clients. The firm claims that it is ready to promote you one of the best gear on the lowest costs.
Solar Wave additionally takes on a restricted variety of installations each month; it claims that that is to offer the very best degree of consideration to your undertaking. The proprietor of the corporate claims that he personally establishes himself as the purpose of contact for each set up.
Solar Side Up has a concentrate on the Front Range Colorado market, servicing clients across the mountainous area. The firm has a protracted monitor file, having been based over a decade in the past in 2011. It claims that a longtime community of connections permits clients to get financial savings on a variety of merchandise: photo voltaic panels, inverters, racking and batteries.
The firm claims that it combines photo voltaic panel set up expertise with roofing tasks, enabling clients to make the most of an installer that may tackle the mandatory roofing job that may very well be a prerequisite for putting in a photo voltaic panel system.
How to find out which photo voltaic firm is greatest for you
Before selecting a photo voltaic panel set up firm, it is beneficial to succeed in out to a number of installers and get bids from them earlier than transferring ahead. Consult with these installers for value choices, in addition to to see in the event that they meet your entire set up wants.
In addition to affordability, necessary variables it’s possible you’ll wish to take into account when selecting a photo voltaic installer embody the corporate’s repute, critiques and merchandise and warranties they provide.
If you want further help from a 3rd social gathering, Solar United Neighbors is a nonprofit that operates a free helpdesk for consultations.
Cost of photo voltaic panels in Colorado
Here’s a have a look at the typical money value for a typical photo voltaic panel system in Colorado earlier than factoring in tax credit and incentives, based on knowledge from DiscoverEnergy.com.
Average price of photo voltaic panels in Colorado
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| Typical system measurement (kW) | Price per watt | Total put in price | Cost after 30% federal tax credit score | |
| Colorado | 5 | $3.80 | $19,000 | $13,300 |
| National common | 5 | $3.58 | $17,900 | $12,530 |
The following infographic shows the typical whole value, price per watt and system measurement for photo voltaic panel methods throughout the nation, based on knowledge from DiscoverEnergy.com. The estimates offered aren’t consultant of any fluctuations from tax credit or state photo voltaic incentives. If DiscoverEnergy would not have photo voltaic knowledge for a selected state, it seems grayed out on the map.Â
Colorado photo voltaic panel incentives or rebates
The residential clear power credit score (previously known as the funding tax credit score) is a federal solar incentive supplied in each state that credit you 30% of the entire price of your photo voltaic system if you file their federal earnings tax. The charge elevated from 26% after the Inflation Reduction Act handed in August 2022.Â
There isn’t any cap on the amount of cash you’ll be able to declare with this credit score, so long as you’ve gotten sufficient taxable earnings. This means you’ll be able to obtain the complete 30% whatever the measurement or price of your system.
To apply for the residential clear power credit score, fill out IRS form 5695 (PDF). The IRS gives detailed directions on how to fill out the form correctly. Once your software is accredited, you’ll obtain your credit score if you file your federal tax return.
There are a number of solar tax credits and incentives accessible on the federal, state and native ranges to make photo voltaic panels extra inexpensive. Depending on the place you reside in Colorado, it’s possible you’ll qualify for a number of further photo voltaic incentives.
Colorado photo voltaic incentives
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| Residential clear power credit score | Extended by way of 2032 by the Inflation Reduction Act, this federal photo voltaic tax credit score will reimburse you for 30% of the price of a photo voltaic system if you file your tax return. |
|---|---|
| Property tax exclusion | When you add a photo voltaic panel system to your property, usually that house’s property worth additionally will increase whereas growing property taxes. The property tax exclusion in Colorado will exempt you. |
| Sales tax exclusion | Residential photo voltaic panel gear is excluded from state gross sales tax making use of in Colorado. |
| Net metering | Most utilities in Colorado, corresponding to Colorado Springs Utilities, supply a web metering program the place the utility will purchase again extra saved photo voltaic power. |
How solar-friendly is your state?
CNET just lately ranked states based mostly on their residential photo voltaic insurance policies: the legal guidelines and rules affecting consumer-level photo voltaic panel set up and adoption. These insurance policies play a serious function in figuring out how accessible and inexpensive a photo voltaic panel system is to the typical resident.Â
Each state was evaluated by way of a methodology and scored based mostly on eight classes. The last rating was transformed to a letter grade.Â
Here’s how your state scored on CNET’s photo voltaic coverage check.
Colorado
Grade: D
Incentives accessible:
- State-governed web metering at fraction of retail charge
- Solar panel methods absolutely exempt from property taxes
- Solar panels absolutely exempt from gross sales taxes — not relevant to different photo voltaic gear
- Statewide low-income rooftop photo voltaic and group photo voltaic packages
Strongest scoring classes:
Colorado has statewide low-income rooftop photo voltaic and group photo voltaic packages, which makes it one other state that has opened up inexpensive and accessible choices to get photo voltaic power for extra houses. Solar gear can be absolutely exempt from property taxes in the state, whereas solely the photo voltaic panels themselves are exempt from gross sales taxes.
Categories to enhance:
No state photo voltaic tax credit score means the preliminary funding into photo voltaic will lower deeper into residents’ wallets, and net metering at a fraction of the retail charge will lengthen the photo voltaic payback interval earlier than Coloradans begin seeing financial savings on that funding.
How to pay for photo voltaic panels in Colorado
Solar panels are a giant funding. Several financing choices make the upfront price of photo voltaic extra inexpensive. As with any main buy, you’ll want to take into consideration the best way to finance the price of photo voltaic panels. Bear in thoughts that the cash from the tax credit score will not be yours till after you’ve got filed your taxes for the 12 months the panels are put in. It’s additionally necessary to issue in the solar payback period, which is the time it takes to recoup your upfront funding and when financial savings start.Â
Here are some methods to pay for photo voltaic panels:
Solar mortgage:Â Your photo voltaic installer seemingly has a relationship with a financial institution or different monetary establishment to supply a mortgage designed for photo voltaic panels. This is usually a nice deal, however you may wish to get a number of presents to make sure the charges and phrases are one of the best.
Lease or energy buy settlement: Some photo voltaic firms will let you lease your system or enter a power purchase agreement. If you select to lease, you will not personal the photo voltaic system, you may simply pay for the usage of the gear. Entering an influence buy settlement means you may purchase photo voltaic power generated from the photo voltaic firm to energy your property. The value you may pay is often decrease than the retail charge out of your native utility firm. Note that not all incentives can be found with a lease or energy buy settlement.
Cash: This strategy solely works if you happen to occur to have hundreds of {dollars} sitting round in a checking account. If you do not have that but, however need photo voltaic panels in the long run, take into account saving cash in a high-yield savings account. Interest charges are excessive proper now, and this may also help you save sooner.
Home fairness: You haven’t got to make use of a mortgage out of your photo voltaic firm. Financial establishments supply home equity loans and lines of credit (or HELOCs) which are generally used for house enchancment tasks. These loans can be utilized for principally any objective, and so they could also be a very good match to your photo voltaic undertaking. Shop round and be sure you’re getting one of the best deal.
Personal mortgage: You may borrow cash by way of a personal loan. The major distinction between a private mortgage and a house fairness mortgage is {that a} private mortgage is often unsecured, which implies your own home is not in danger. The draw back is they have an inclination to have shorter phrases and better rates of interest than house fairness merchandise.Â
Read extra: Just on the lookout for an emergency backup? Check out portable solar panels and solar generators.Â
Installation components to contemplate
Before signing a contract with a photo voltaic installer, you must take into account whether or not photo voltaic panels are the fitting alternative for you and your property. Here are some set up components to contemplate:
Is your roof proper for photo voltaic? The age, form, measurement and slope of your roof affect how efficiently a solar panel system generates power. The Department of Energy says photo voltaic panels will generate essentially the most electrical energy on roofs with a slope of between 15 and 40 levels. Older roofs or roofs in want of repairs ought to be maintained or changed earlier than photo voltaic set up happens.Â
Are photo voltaic panels allowed in your neighborhood? In Colorado, householders’ associations aren’t allowed to ban photo voltaic panels. However, your householders’ affiliation or neighborhood could have necessities or approval processes that you must take into account earlier than signing a contract.
Can you add photo voltaic panels to your insurance coverage coverage? Most customary homeowner insurance policies cowl rooftop photo voltaic panels. However, you must nonetheless test together with your insurance coverage company for the particular particulars of your coverage.
Does your property obtain sufficient solar? While photo voltaic panels can generate some electrical energy in oblique daylight, direct daylight of at the least 4 hours per day is a normal rule of thumb for after they make monetary sense. In Colorado, many residents obtain important snowfall in the winter. Solar panels are designed to function in the snow, though they are going to produce much less energy if it stays cloudy. If your roof will get constant shade protection, a photo voltaic panel system could not generate as a lot energy as you want.Â
Do you hire your property? If you rent your home you might not be allowed to put in photo voltaic panels. If that is the case, community solar programs are an alternate possibility. Community photo voltaic permits residents to subscribe to solar energy produced in one other location (often someplace close by) and obtain a credit score on power payments. The subscription charges are decrease than the worth of the credit, which means you pay lower than you’ll on regular power payments.Â
How we consider photo voltaic firms
The firms we listed above as “one of the best” are curated from CNET’s best solar companies checklist. Companies making one of the best checklist are scored on the gear, warranties and customer support they provide. Then, we be sure that these suggestions can be found in your state. You can learn a full breakdown of how we review solar companies here.
Companies listed beneath the native installers have been chosen in a much less rigorous manner. We selected them as a result of they supplied one thing distinctive or notable to clients in the state, they appeared well-regarded by web reviewers or as a result of they have been one of many few installers we might discover info on in the state.
Whether we have accomplished a full assessment on an organization or not, it is all the time a good suggestion to get a number of quotes from totally different installers earlier than selecting an organization.
Colorado solar energy FAQs
Is solar energy good for the atmosphere?
Solar energy is a extra sustainable supply of power in comparison with coal or fuel as a result of it would not emit greenhouse gases like carbon dioxide. Burning fossil fuels is a serious contributor to local weather change and air air pollution. Scientists say we have to quickly transition away from fossil fuels and rely extra on inexperienced power sources in order to keep away from the worst results of local weather change. While manufacturing photo voltaic panels does have environmental impacts, they’ve a a lot decrease affect over their lifetime in comparison with the continual burning of fossil fuels.Â
Does Colorado have a photo voltaic tax credit score?
There are a wide range of photo voltaic tax credit, rebates and incentives accessible in Colorado. The federal photo voltaic tax credit score offers you 30% of the worth of a photo voltaic system again in your taxes and is obtainable in each state. Colorado additionally presents a number of photo voltaic incentives on the state and native ranges. Check the Database of State Incentives for Renewables and Efficiency for a full checklist of Colorado photo voltaic incentives.
How can I discover a photo voltaic set up firm in Colorado?
With a rising variety of photo voltaic installers working in Colorado, it may really feel overwhelming making an attempt to choose the fitting one. Take the time to do your analysis earlier than signing a contract with an installer. Read buyer critiques, test installers’ guarantee phrases and evaluate a number of quotes from installers. You can use CNET’s picks for top solar companies as a place to begin.
