Where is the Help for Your Home Improvements?
While it may not be within your budget to make energy improvements such as those showcased on this year’s green homes tours, doing something is within the budget of many people. And help is all around!
Xcel Energy has just launched more generous home energy efficiency rebates, made possible through the Demand Side Management decision of the Colorado Public Utilities Commission and the many advocates who argued for stronger measures.
For example, you can get up to a $200 rebate for an energy audit that gives you a roadmap of what your home needs, or a $50 rebate for a smart thermostat to help control your use.
The Whole Home Efficiency Program will reward those who undertake multiple improvements such as air sealing, wall insulation and buying a heat pump. It allows customers who install three or more qualifying measures within two years to receive an additional bonus rebate of 25 percent of the rebate already paid for each measure. Customers need to use participating contractors. You can find the list at xcelenergy.com/COTrades.
Federal tax credits for a variety of home improvements that took effect this year can be claimed on tax filings next spring for work done before the end of 2023. If you don't have time or money this year, you can plan for next year. The credits will continue and you can use them each year. And other programs are available now from utilities as well as state and local governments.
Here are places to start:
Information about Federal Energy Credits and Upcoming Rebates:
Summary of federal residential energy efficiency tax credits: Energy Efficient Home Improvement Credit | Internal Revenue Service (irs.gov)
Fact Sheet on residential clean energy and energy efficiency tax credits: Frequently asked questions about energy efficient home improvements and residential clean energy property credits (irs.gov)
Home Energy Rebates Frequently Asked Questions | Department of Energy
News about rebates from Colorado: Sign-up for updates.
Information about Utility Rebates:
Summary of Building Electrification Utility Rebates (loveelectric.org)
National Database on incentives and rebates: https://www.dsireusa.org/
Information about Electric Vehicle Incentives:
Are You Eligible for an EV Tax Credit? | EV CO (colorado.gov)
Colorado's new "Cash for Clunkers" Electric Vehicle Incentives: Vehicle Exchange Colorado (VXC) Program | Colorado Energy Office