If you missed taking advantage of the generous rebates for energy-saving upgrades this past year and are concerned that you’ve overlooked thousands of dollars’ worth of free money, don’t panic, at least not yet. You can take some comfort in at least two things: Congress moves slowly, and the Democrats still run Colorado.
While it’s likely the new administration in Washington will seek to discontinue or scale back some of the programs, much of that requires legislation and with the slim majorities it holds in both houses, changes in tax programs and rebates will likely take months, if not years, to go into effect. And state-sponsored programs, while partially dependent on federal money, are likely to stay in place, but maybe at lower levels of funding. Plus, utility companies that get much of their rebate and incentive cash from ratepayers will likely continue their programs but, again, at possibly lower levels.
So did you miss out? Not necessarily, at least not completely. Here’s a look at what may be impacted in 2025:
- Federal Programs
The feds have been kicking back up to $2,000 in a tax credit for qualifying heat pumps as well as incentives for buying energy-saving appliances and other measures like insulation and weatherizing. These vary by state and can change over time so be sure to check what’s available before committing to a purchase.
To see the latest programs available to Colorado residents, follow the links on the Colorado Energy Office website.The US Department of Energy also has information about federal programshere.
- Colorado Incentives
The Feds have earmarked $140 million in funding for two rebate programs for income-qualified Colorado residents to improve home energy efficiency and upgrade to electric appliances. The Colorado Energy Office will roll out a limited initial phase of Home Electrification and Appliance Rebates (HEAR) through the Weatherization Assistance Program (WAP) to starting sometime in 2025. They say they will provide more information on these rebates as soon as they are available.
The CEO also plans to launch the federally funded Home Efficiency Rebate (HOMES) program in 2025 to support efficiency improvements in income-qualified multifamily buildings and mobile/manufactured homes.
While you’re waiting for them to decide how to dole out the money, you can get updates by signing up here.
- Incentives or Not, Energy Saving’s a Good Idea
Botton line, energy saving is always a good idea, especially with gas and electricity rates continually rising. Plus, it’s good for the environment.
But with the multitude of programs and equipment available, the choices can be overwhelming,complicated, and expensive. And if not done carefully, it can cost more than money—it can pose serious risks to both your property and the precious things it houses. That’s when it’s time to call a pro.
So if you’re ready, or even just thinking about changes, let Allstar Electrical Services help you assess the costs and benefits of such a move. Give us a call at 303.399.7420 or visit our website. We’ve served Colorado’s Front Range for over 20 years, are top-rated by the Better Business Bureau and a preferred contractor by Angi’s® Home Advisor. We’re ready to work with you to get the results you expect and deserve, whatever your needs may be.