(Photo By: Real Goods)
Colorado’s Amendment 37 requires any utility with over 40,000 customers to offer a minimum $2/watt rebate for residential solar electric grid connected systems.
On the Federal Level, as of January 1, 2006 there is a 30% tax credit for residential solar systems with a cap of a $2000.
Consider this hypothetical created by Real Goods for customers of Xcel Energy,
"Xcel Energy will issue a rebate and REC (Renewable Energy Credit) purchase that totals $4.50 per system DC watt, for systems under 10kw in size. What that means for you is on a qualifying 2.5kw system (typical installed costs for a 2.5kw system would be in the $20,000 to $25,000 range) you would be eligible for an $11,250 rebate. Combine that with the Federal Tax Credit available January 1, 2006 of 30% of the adjusted cost of the system up to $2000; you would have a $13,250 reduction in the total system cost."
According to their calculations, the Xcel Rebate and Federal Tax Credit would cover up to 66% of the installed system cost.
Interested residences and businesses can visit Findsolar.com, to find an installer or to estimate potential energy savings.
