Incentives & Benefits
Many people install solar PV systems because they want to do their part to create a brighter future. Not only is solar energy improving the health of the planet, it can also improve your own financial health.
It is commonly understood that our traditional methods of generating electricity have created one of the most pressing environmental challenges of our time. Solar energy can be part of the solution. By installing solar on your home, you’ll be creating clean, renewable, pollution-free electricity for decades to come. In the process, you’ll reduce our country’s dependence on fossil fuels and make the world a better place for future generations.
The average size solar PV system installed in Colorado is 5kW. A system of this size will offset about 75 percent of the electricity use in the average home.
The environmental benefits include:
- Eliminates almost 15,000 lbs. of carbon emissions from the atmosphere each year
- Equivalent to not driving over 16,000 miles each year in the average car
- Equivalent to planting 574 total trees
Solar energy makes financial sense as well. Rebates and tax credits combine to significantly offset your costs. The investment you make in your solar electric system will protect you from rising electricity prices for years to come, while offering a better return than treasury bonds or CDs—and less volatility than stocks. You’ll enjoy watching your meter “spin backward,” lowering your utility bills and adding value to your home.
“We took money out of savings, with the concurrence of our financial advisor, to invest in what should be a slam-dunk decision for everyone on the Xcel grid who has the capability of installing an efficient system like ours. This investment beats any other investment hands down and does so with the highest level of certainty. We’ll have a return of principal in 10-12 years followed by many, many years of free electricity. And, we will have helped the environment substantially in the process.”
– Kermit M., Littleton, CO
Now, with the SunRun Power Plan, you can lock in a fixed, low rate for solar power with little or no upfront payment.
SUMMARY OF INCENTIVES FOR COLORADO
Xcel Rebates and Renewable Energy Credits (RECs)
- $2.00 per DC watt cash rebate (calculated using the PV system's total power rating)
- $0.45-$0.70 per DC watt one-time payment for the system's lifetime Renewable Energy Credits (RECs). See REC schedule
- Minimal system size to qualify for rebate/REC’s is 0.5KW
Federal Income Tax Credits
- 30% of out-of-pocket costs after deducting any state/local incentives
State of Colorado
- State sales tax waiver (2.9%)
- RTD sales tax waiver (1.2%)
The City of Boulder
- The rebate is approximately 15% of the sales tax
The Bottom Line
In practical terms, these incentives reduce your total out-of-pocket costs for a solar electric (PV) system by as much as 70 percent!
To help reduce your upfront costs, Namasté Solar has partnered with SunRun to offer the SunRun Power Plan. You pay for the solar power as you use it, with little or no money upfront.
Plus, you'll enjoy SunRun’s premium service benefits, Full System Management, at no additional cost. Your solar electric system will be maintained and professionally monitored for 20 years, eliminating any maintenance concerns.
If you plan to use solar financing, the SunRun Power Plan is the smartest way to spread out the cost of solar power over time without financing fees or loan payments. You can reduce your upfront cost for solar to pay for other home improvements, save for retirement, or take that dream vacation.
Contact Us to learn more and receive a SunRun Power Plan proposal.
