Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Reduced energy costs: Sourcing some or all of your own energy will spend less on electricity long-term. Plus, some states offer net metering programs that make it possible for you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Solar panel systems with battery backups and storage systems operate through blackouts and emergencies, and you won't have to depend on your power company for your safety and comfort.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Loveland Homeowners?
Colorado's public agencies and power companies offer a range of solar incentives to help reduce your solar system costs. Here is a breakdown of eligible solar programs where you live.
Incentive Type: Property Tax Incentive
Website: cdola.colorado.govIncentive Amount:
100% exemption for renewable energy system property
Incentive Type: Sales Tax Incentive
Website: tax.colorado.govIncentive Amount:
100%
Incentive Type: Rebate Program
Website: energysmartcolorado.comIncentive Amount:
Residential
PV: 50% up to $500
Solar Thermal: 50% of project costs
Commercial
50% of project costs
Incentive Type: Sales Tax Incentive
Website: bouldercolorado.govIncentive Amount:
~15% refund on sales and use tax for the solar installation
Incentive Type: Rebate Program
Website: energysmartcolorado.comIncentive Amount:
PV: 25% of cost
Solar Water Heat: $25% of cost
Solar Thermal Tune-up: 25% of project cost
Micro-hydro and Geothermal: 25% of cost
Incentive Type: Property Tax Incentive
Website: cdola.colorado.govIncentive Amount:
100% exemption for the percentage of electricity capacity (AC) of a community solar garden attributed to residential or governmental subscribers or organizations that are already exempt from property taxes
Incentive Type: Performance-Based Incentive
Website: xcelenergy.comIncentive Amount:
Systems 0.5 kW - 25 kW: $0.005/kWh
Medium-sized Systems 25.1-500 kW: $0.0375/kWh
Large Systems (>500kW): Determined through competitive bid
Incentive Type: Sales Tax Incentive
Incentive Amount:
Varies (local option)
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies (local option)
Incentive Type: Rebate Program
Website: efficiencyworks.orgIncentive Amount:
Air Sealing: $300-$500
Insulation: Up to $1,815
Duct Sealing: $200 (gas-heated homes only)
Window Replacement: Up to $1,000
Air Handler Blower Motor: $150
Whole House Mechanical Ventilation: 20% of cost
Heat Pumps: $500
Replacement Furnace: $300-$500 (gas-heated homes only)
Ductless Mini-Split: $250/head
Replacement Gas Boiler: $300 (gas-heated homes only)
Replacement Water Heater: $100-$500
AC System: $150-$500
Whole House Fan: $275
Evaporative Cooler: $500
Incentive Type: Rebate Program
Website: unitedpower.comIncentive Amount:
CFL Recycling: FREE
New Energy Star Refrigerator/Freezer: $30
Refrigerator/Freezer Recycling: $75
New Energy Star Clothes Washer: $40
New Energy Star Dishwasher: $20
New Electric Thermal Storage Units (on automated Time-of-Day control panel): $4-$16/kW
New Electric Thermal Slab (on automated Time-of-Day control panel): $4-12/kW
Water Heaters: $20-$400
Terminal Unit for Heat Pump A/C Units: $75-$85/Unit
Heat Pumps: $100-$450/ton
Geothermal Heat Pumps: $200-$500/ton
Air Conditioners: $100-$150
Incentive Type: Loan Program
Website: xcelenergy.comIncentive Amount:
Up to $50,000
Incentive Type: Rebate Program
Website: xcelenergy.comIncentive Amount:
Refrigerator Recycling: varies, contact utility for details
Natural Gas Furnace: $300
EC Motor in New or Existing Furnace: $100
Air Conditioning/Air Source Heat Pump: $300-$600
Mini-Split Heat Pump: $300
Water Heater: $70-$450
Evaporative Cooling: $200-$1,200
Attic Insulation: $350-$600
Wall Insulation: $350-$600
Air Sealing, bypass sealing, and weather-stripping: $175-$450
Ground Source Heat Pump: $300/ton
Smart Thermostat: $50
Incentive Type: Rebate Program
Website: xcelenergy.comIncentive Amount:
Attic Insulation: $400-$700
Air Sealing/Bypass Sealing/Weather-Stripping: $250-$550
High Efficiency Lighting: 30% of cost
Wall Insulation: $450-$700
Evaporative Cooling System: $325-$1200
Central Air Conditioner (New): $400 - $700
Central Air Conditioner (Trade In): $550
Ground Source/Geothermal Heat Pump: $300 per ton
Electric Heat Pump Water Heater: $550
Programmable Thermostat: $25
High Efficiency Furnace: $400
Electrically Commuted Motor: $125
Tankless Water Heater: $200
Standard Tank Water Heater: $100
ENERGY STAR Refrigerator: $15
ENERGY STAR Clothes Washer: $30
Incentive Type: Loan Program
Website: colorado.govIncentive Amount:
$35,000
Incentive Type: Loan Program
Website: colorado.govIncentive Amount:
$250,000
Incentive Type: Performance-Based Incentive
Website: xcelenergy.comIncentive Amount:
2015 Large RFP Program: Incentive Type: Loan Program Incentive Amount: $25,000 Incentive Type: Rebate Program Incentive Amount: Refrigerators/Freezers: $30 Incentive Type: Personal Tax Credit Incentive Amount: 30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels. Choosing a company is the first step toward a well-oiled and valuable solar array. Make your choice based on the following key factors. While electricians and plumbers in Colorado have state-issued licenses from the Colorado Electrical Board or Colorado State Plumbing Board, counties and cities can issue their own solar professional if they choose. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers. The kind of solar panels you choose determines how much electricity you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs. Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these add-ons, so look for a company that sells them if it's important for you. A majority of Loveland homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $19,900 to install, considering both parts and installation. You can see more specific solar cost information in the table. There are a plethora of ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include leases, loans, cash payments, and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a car or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, like an electric bill. We generally don’t recommend these two options because you won't own the system and cannot use solar incentives. Ask each installer you're evaluating about the payment options it offers. A salesperson can help you determine the optimal option for your financial situation. The table below lists the average payback periods for different capacities of solar systems in Loveland. A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through city and state governments, usually in the form of rebates and special financing programs. Please enter a valid 5-digit zip code! You don't own the panels with either option, though you can choose to opt out of the contract for a fee. To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
Determined through competitive bid. RFP released on March 3, 2016
Refrigerator/Freezer Recycling: $60
Clothes Washers: $30-$40
Clothes Dryers: $30-$90
Dishwashers: $20
Standard Water Heaters: $30-$50
Heat Pump Water Heaters: $350
Heat Pump Waste Heat (geothermal): $100 plus $25 for a lifetime warranty
Geothermal Heat Pumps: $500/ton plus $200/ton 2019 bonus incentive
Ground Source Heat Pump Desuperheater: $100/unit
Air Source Heat Pumps:$300-$450/ton plus $200-$300/ton 2019 bonus incentive plus $100/unit for integrated controlled ETS backup
Terminal Air Source Heat Pumps: $85/unit
Air Conditioners: $100-$150
Residential LED Lighting: 50% of cost
Commercial Lighting: Varies, see program website
Irrigation Motors: $1.50-$8.00/hp
Variable Frequency Drives: the lesser of 50% of cost or $1,600-$6,800/unit How To Choose the Best Solar Company in Loveland
Licensing and Training
Cost of Solar Panels in Loveland
Solar Panel Cost Average Cost Solar Monocrystalline $1,134 Solar Polycrystalline $884 Thin-Film $517 Solar Battery $726 Solar Home EV Charger $2,721 Financing Solar Energy in Loveland
Solar System Capacity Estimated Payback period 1 kW 1.8 years 2 kW 3.6 years 5 kW 8.9 years 10 kW 17.8 years Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Loveland
How much money could I save by going solar in Loveland?
How prevalent is solar energy in Loveland?
Should I expect a property value increase after adopting solar power?
What is a Loveland solar panel's average lifespan?
Is installing solar panels a fast job?
What size should my new Loveland solar system be?
What's the difference between a PPA and a solar lease?
Sources
More Best Solar Companies Pages
