Solar Installation Costs
In 2020, homeowners typically spent between $10,000 and $20,000 to buy a solar panel system, but it may cost more or less depending on incentives, the size of your system, the type of equipment you install, and the company you move forward with.
There are a number of websites, like solar-estimate.org and energysage.com/solar/calculator that offer a more detailed snapshot and comparison what a solar energy system is likely to cost you based on where you live.
There are currently no state-wide incentives for solar. See the Colorado Energy Office for the latest details.
Federal Investment Tax Credit
The Investment Tax Credit (ITC) allows you to deduct a portion of the install costs of your solar energy systems from your federal taxes. The process for claiming the tax credit is straightforward, requiring the completion of the 2-page IRS Form 5965, but not everyone is eligible. YVEA recommends consulting with a tax accountant to verify eligibility.
Form and Instructions: IRS Form 5965