Renewable Energy Rebates/Tax Credits
Everyone who is thinking along the lines of
installing a renewable energy system at their home or place of business is
looking for financial incentives to help reduce the expense. To encourage their
citizens to go solar, a growing number of states offer solar power incentives,
usually in the form of a renewable energy system installation rebate. The
amount of the installation rebate varies state to state, but in all cases it
will cover a significant portion of your solar system installation cost.
In addition to the renewable energy
installation rebates, the US government currently offers residential and
commercial solar system owners a 30% federal tax credit. The same tax credit
can now be applied to wind turbine systems. In practical terms, state and
federal incentive programs can reduce your total out-of-pocket costs for a
solar electric (PV) system by as much as 80%!
Within Colorado, some areas qualify for
additional incentives through local municipal utilities. In an effort to
increase the overall number of solar installations throughout the state,
Colorado's Governor Energy Office (GEO) is offering funding to provide
financial incentive for the creation of renewable energy projects. The GEO
funding is effectively doubling the funding available in this rebate program by
partnering with cities, utilities, and non-profit organizations through a
matching grant program. These GEO Program Partners will use the GEO's matching
grant funds to set up local solar rebate programs.
GEO solar rebates now available for
customers in Fort Collins, Longmont, United Power, Poudre Valley REA, Estes Park
and other territories! In addition, Estes Park is now offering
installation rebates for wind turbines installed within city limits.
Details of Rebates and Tax Incentives
A great resource for getting comprehensive details on your state's
incentive programs for both renewable energy and energy efficiency, plus any
available local and utility incentives, is the DSIRE website the Database of
State Incentives for Renewables & Efficiency:
http://www.dsireusa.org/library/includes/incentive2.cfm?incentive_code=co12f&state=co¤tpageid=1&re=1&ee=1