In the 2020s, the US solar industry is maturing and changing more rapidly than ever before.
So as a company focused on communication, education, and customer experience, we strive to help Colorado and Wyoming locals keep up to date with the latest programs, rebates, and tax incentives available for solar energy in the area.
For instance, our learning center is filled with links and information about:
The Residential Clean Energy Credit, worth up to 30% of system costs
Local CO and WY utility solar net metering policies, programs, and rebates
Property tax exemption, sales tax exemption, and more
Zooming in on today’s solar market, this article will highlight three brand-new ways that you may be able to lower your total solar investment costs in 2024.
Want help from a trusted local solar expert? Get a free quote from Apollo Energy today!
10% Bonus Tax Credit for Residents in “Energy Communities”
In Colorado, Wyoming, and across the country, Americans who live in “Energy Communities” may be able to earn additional tax credits from the federal government for up to 10% of a solar energy system’s total project costs.
Officially known as the “Energy Community Bonus Tax Credit,” the program is primarily designed to lower solar adoption costs for individuals who live in areas with current or previously operating coal mines, coal-fired power plants, or brownfield sites.
In this screenshot from the Department of Energy’s live program map, you can see that the Denver metropolitan area has several energy communities, including some near Golden, Boulder, Englewood, and Thorton. Up and down the Front Range of the Rockies, there are also several scattered energy communities in Colorado Springs, Cañon City, Pueblo, and many rural areas throughout Colorado and Wyoming.
Xcel Energy Localized Solar Rebates in Colorado
Serving over 1 million customers in Colorado, Xcel Energy has recently developed a new localized rebate program to help those in lower-income communities adopt solar energy. At rates of $1 per watt for systems up to 7 kW, those who qualify for the program can expect average rebate values between $3,000 and $6,000 for a typical home solar panel installation.
Known as “Solar*Rewards IQDIC,” the program is available to income-qualified (IQ) candidates or those who live in disproportionately impacted communities (DIC). More information, further qualification details, and program applications can be found on Xcel's dedicated program page.
Fort Collins Solar Rebate 2024
Although it has a much smaller service area than Xcel Energy (serving approximately 66,000 residents of Northern Colorado), Fort Collins Utility is also likely to increase its rebate for new solar customers sometime soon.
For the past several years, Fort Collins Utility customers have received rebates of up to $1,000 for residential solar panels and up to $1,500 for solar batteries, values that are expected to increase in 2024.
Wrapping up
Ultimately, when going solar, it can be difficult to know what available incentives you may qualify for, in addition to discerning what programs are real or just a bit of clever marketing with promises too good to be true.
In 2024 and beyond, Apollo Energy is here to help home and property owners discover every program, tax credit, and rebate that they can take advantage of to adopt a solar power system and begin saving on energy costs in Colorado or Wyoming.
As local solar experts, we can take advantage of new incentives as they become available, and our team always works to attain the highest rebates possible for our customers.
Locally owned and operated right here in Denver, feel free to reach out to Apollo Energy today with any questions.