Effective January 1st, 2023 – Through the Inflation Reduction Act (IRA) and the State of Colorado, Energy Storage Systems may now be eligible for up to 40% federal and 10% state tax credits. Power+ installations that are completed in 2023 may now be eligible for these tax credits if the member pays off the balance owed on their Distributed Energy Resources Service Agreement no later than December 31st, 2023.
For current participants, we can provide you with your balance by contacting us at BESS@holycross.com. (This balance is the installed cost less the HCE rebate and any DERSA Payments that have been made since the project was completed).
Before you pay off your balance, please consult with your tax advisors.