303-903-9119 • 722 Iowa Street • Golden, CO

AFFORDABILITY

This is a very exciting time in the history of our planet! The cost of solar has seen a remarkable decrease in recent years.

Solar electric technology has arrived as an accessible, affordable option for average Americans. With the increasing electrification of buildings and vehicle transportation, consumers are increasingly empowered to make their own energy and offset impact directly.

By investing in a photovolitac (PV) solar system, you can:

  • eliminate or reduce electricity costs
  • benefit from a generous federal tax credit—22% of your expenditure in 2023 and 2024, with additional depreciation benefit for commercial installations
  • increase the value of your home or business
  • reduce your environmental impact

LOW-INTEREST RENEWABLE ENERGY LOANS

Buglet Solar is proud to be a certified installer for the statewide zero-downpayment, low-interest RENU solar loan available through State of Colorado and three Colorado credit unions.

Many of our clients have enjoyed a positive experience with this program, designed to make home energy upgrades easy and affordable. RENU features an online application and provides financing for battery backup as well as solar technology.

Contractors are vetted by the State of Colorado for consumer protection, and pre-existing credit union membership is not required.

https://www.cocleanenergyfund.com/renu

For businesses, Colorado is on the leading edge of commercial solar financing with the C-PACE Program. This innovative program allows the owner of a business to acquire low-interest financing and pay incrementally on the property tax account. For more information: https://copace.com/building-owners/owners-how-we-help/

FINANCIAL & TAX INCENTIVES

Duncan Barn

A combination of outstanding financial incentives and electricity rate policy makes solar PV a rewarding investment for Coloradans.

All renewable energy purchases qualify for a generous federal tax credit—22% of overall cost for installations in 2023 and 2024. This is a credit against tax liability—in contrast to a deduction.

Additionally, commercial entities including residential rental properties qualify for an attractive 1-year accelerated depreciation schedule, amounting to another approximately 30%–depending on tax bracket, of course.

Renewable energy purchases in Colorado also are exempt from state, RTD and SCFD sales tax. While local and county taxes apply, this remarkable tax exemption brings significant savings for every installation.

A solar installation with grid-tie interconnection with an investor-owned utility like Xcel Energy also benefits from Fair Net Metering policy and Time Of Use rate structure. When the solar system is producing more energy than on-site activities demand—especially during high-production months like July and August—this excess is contributed to the utility grid and spins your electricity meter backward, giving retail credit for solar energy contributed to the grid and building up your “solar bank” of credit. When you utilize electricity at other times of day—especially after dark—your meter spins forward, drawing from your solar bank of credit before purchasing any new kilowatt-hours from the utility.

A solar installation with grid-tie interconnection with an investor-owned utility like Xcel Energy also benefits from Fair Net Metering policy and Time Of Use rate structure. When the solar system is producing more energy than on-site activities demand—especially during high-production months like July and August—this excess is contributed to the utility grid and spins your electricity meter backward, giving retail credit for solar energy contributed to the grid and building up your “solar bank” of credit. When you utilize electricity at other times of day—especially after dark—your meter spins forward, drawing from your solar bank of credit before purchasing any new kilowatt-hours from the utility.

All residential customers in Xcel Energy’s Colorado service territory are now on a Time Of Use rate structure that is highly advantageous for solar customers, accelerating “payback” and leveraging the high-production of summertime afternoons against the highest-cost time interval of the TOU rate structure. For more information: https://co.my.xcelenergy.com/s/billing-payment/residential-rates/time-of-use-pricing.