Colorado Geothermal Incentives and Programs
- Geothermal Electricity Tax Credit Offering (GETCO)
The Geothermal Electricity Tax Credit Offering is run by the Colorado Energy Office (CEO). This tax credit offers up to 30% of investment cost, and CEO may award up to 50% tax credit for select projects that are not to exceed $5 million per project.
- Geothermal Energy Grant Program
The Geothermal Energy Grant Program is run by the Colorado Energy Office (CEO). This grant program supports the use of zero-emission, geothermal energy for electricity generation and space/water heating and cooling in homes, businesses, and communities.
- Polis Administration Announces $7.7 million in Awards for Geothermal Energy Projects
- Geothermal Energy Grant Program Round 1 Awardees
- Colorado Heat Pump Tax Credit
2024 Heat Pump Tax Credit is run by CEO, this tax credit offers a 10% tax credit based on the full purchase price for the heat pump system which includes both ground-source heat pumps and air-source heat pumps. This program has yet to be opened to the public but will be opening in 2024.
For the most up to-date list of approved Heat Pump Tax Credit Contractors follow the link below to the official Colorado Energy office Heat Pump website.
- Public Building Electrification Grant
The Public Building Electrification Grant is making a total of $10 million in project funding available to eligible entities (Must be public entities). Each funding round will outline a specific amount of funding available to applicants during that Request for Applications (RFA) cycle. Funding cycle dates and frequency are to be determined. This program will be run by CEO.
- High Efficiency Electric Heating and Appliances Grant Program
With the High Efficiency Electric Heating and Appliances Grant Program CEO is making $10.85 million available to eligible to receive funding for up to 50 High Efficiency Electric Heating and Appliances Grant Program | Colorado Energy Office% of the total eligible project cost. Disproportionately impacted, low-income and just transition communities are eligible for additional funding. With this grant there is a required match where the applicant must match 15-50% depending on disproportionately impacted low-income, or just transition status.
CEO will be granting $10,000 per household if a qualifying ground-source heat pump is installed at a home damaged or destroyed in one of the qualifying state natural disasters after 2018 under senate Bill 22-206 with the GSHP Disaster Recovery Rebate. This grant is additive to any other funding a household may be eligible to receive from state programs.