As of March, 2019 there are two main incentives for installing solar on your home or business in the Durango area. The first is the federal tax credit of 30% of the system cost. This includes the solar panels, inverter, racking, permits and labor. This incentive is currently set to step down at the end of 2019.
The second incentive is the sale of REC’s (Renewable Energy Credits) to the local utility. Both La Plata Electric Association (LPEA) and Empire Electric Association (EEA) will purchase the REC’s generated by your solar system. LPEA will purchase 10 years of REC’s upfront and EEA will purchase them on an annual basis.
These are the main financial incentives to install solar panels on your home or business right now. Other indirect incentives are no sales tax on the solar installation and the county accessor won’t increase your property value for tax reasons because you’ve installed solar. Your actual home value is increased of course with solar, but you won’t owe property tax on this increased value.