Residential solar power colorado

How much do solar panels cost in Colorado?

In Colorado, a typical residential solar panel system costs $10,605 to $30,300, depending on the size of your system and what financial incentives you qualify for. The 30% federal solar investment tax credit (ITC) is the most significant financial incentive for most homeowners buying solar panels in Colorado.

How much does a 5 kW solar system cost in Colorado?

The average cost for a 5 kW solar panel system is around $14,500 in Colorado. Once you factor in the 30% credit, the cost comes down to $10,150. When you file your federal income taxes, you can claim this incentive as a credit towards your federal tax bill.

What is the federal solar tax credit in Colorado?

The federal solar tax credit in Colorado provides a tax credit equal to 30% of your solar panel installation cost. Colorado solar incentives help offset solar system costs and provide additional long-term savings. You also qualify for discounts on stand-alone energy storage.

Do solar panels pay off in Colorado?

Based on feedback from hundreds of solar customers in Colorado, the general consensus is that solar panel investments pay off over time. Assuming an upfront purchase, it takes about 9 years to break even (when your savings with solar panels make up for the cost) The average solar panel installation costs $3.03 per watt in Colorado.

Are solar panels tax deductible in Colorado?

The federal solar investment tax credit (ITC) is still the biggest incentive for many Colorado homeowners. If you install a residential solar panel system by the end of 2032, you can get a tax credit equal to 30% of the system's total cost — including equipment, labor and permits — on your federal taxes.

Do solar panels increase home value in Colorado?

Installing solar panels will increase your home's value in Colorado. Not only will you benefit from various rebate programs, but you also won't have to pay sales or property tax on your solar panels.