Incentives
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INCENTIVES are available to all residents of Ouray County. These incentives can help to lower your tax liability and/or lower the overall cost for home and transportation upgrades. They are available from various jurisdictions including the San Miguel Power Association, the state of Colorado, and the federal government, primarily through the Inflation Reduction Act.
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When viewing incentives, you will often see rebates and tax credits. A rebate is an upfront discount or refund you get when you make a purchase, often reducing the cost right away. A tax credit, on the other hand, reduces the amount of taxes you owe when you file your tax return, meaning you get the savings later. For example, if you buy an energy-efficient appliance, a rebate might give you cash back immediately, while a tax credit would lower your tax bill at the end of the year.
Projects Eligible for Incentives
Example project incentives are included for each category below. However, the incentives listed are not exhaustive. These incentives are made available by our local utility cooperative, the San Miguel Electric Association (SMPA), the State of Colorado, and the federal government.
Battery storage
- SMPA offers $30/kilowatt rebate for Controlled Off-Peak Electric Thermal Storage
- SMPA offers a $180 rebate for ENERGY STAR-certified Hybrid Heat Pump Dryer
- SMPA offers up to a $400 rebate for an induction cooktop/range
- SMPA offers a $750 rebate for a new or used All Electric Plug-In Vehicle (EV)
- The federal government offers a tax credit up to $7,500 for new EVs and $4,000 for used
- The federal government offers a 30% tax credit for an electrical panel upgrade when done with another 25C or 25D upgrade
- SMPA offers a 50% rebate for outdoor mounted heat pumps, up to $20,000 per project
- SMPA offers a 50% rebate for an electric snowblower, up to $200
- The federal government offers a 30% tax credit for rooftop solar
- SMPA offers a $700 rebate for an ENERGY STAR-certified Air Source Heat Pump Water
- The federal government offers a 30% tax credit for weatherization projects like insulation, air sealing, windows, and doors
Rewiring America's Incentive Calculator
Below is a calculator from Rewiring America that can help identify which incentives may be available to you based on a few demographics. Enter your zip code, utility cooperative, estimated annual income, tax filing status, and the number of people in your household and hit the "View results" button to see what you could be eligible for!
