Today (Feb 1), Governor Polis and the Colorado Energy Office announced that new Colorado Heat Pump Tax Credits are available to assist Coloradans who are installing eligible heat pump technology for space heating and cooling and water heating. Heat pumps reduce greenhouse gas emissions, improve indoor air quality, lessen demand on the electric grid during the hottest summer days, and save Coloradans money. The Colorado legislature established this tax credit along with several other clean energy tax credits when Governor Polis signed HB23-1272 "Tax Policy that Advances Decarbonization" sponsored by Representatives Mike Weissman and Junie Joseph and Senators Steve Fenberg and Lisa Cutter.
"These tax credits will help Colorado become more sustainable while saving Coloradans money. Too often Coloradans are victims to natural gas price spikes and by transitioning to efficient electric, low-cost heat pumps, Coloradans can be protected from the high, and volatile, costs of natural gas," said Governor Polis.
Natural gas use in buildings is among the top five sources of greenhouse gas emissions in Colorado. Increasing the adoption of highly efficient heat pumps for space heating/cooling and water heating is a key strategy to reduce emissions from the buildings sector and move the state closer to meeting its target of net-zero emissions by 2050.
Click here to read the full press release.
