State awards $1,055,738 tax credit for Weld County battery project

The Colorado Energy Office awarded TPSR Solar 16 LLC $1,055,738 in refundable tax credits for a Weld County project that will install a grid-connected battery system at a large-scale industrial manufacturing plant to provide backup power and reduce peak-demand charges.

The Weld County project is intended to demonstrate the viability of replacing a fossil-fuel generator with a battery energy storage system, the Colorado Energy Office said. Gov. Polis said, “Protecting our environment means investing in data-driven strategies to reduce greenhouse gas emissions.”

The $13.9 million in awards announced Wednesday through the Clean Air Program grant and the Colorado Industrial Tax Credit Offering brings the state’s total investment in industrial emissions-reduction initiatives to more than $73 million since 2023. The office awarded $2.8 million in Clean Air Program grants to technology providers, which will then secure locations for implementation, the office said. It awarded $11.1 million in refundable tax credits through the Colorado Industrial Tax Credit Offering for the listed projects. The awards support six projects and one study expected to reduce annual emissions by an amount equivalent to removing 14,507 gas-powered cars from Colorado roads, the office said.

Charm Industrial Inc. received $8 million in refundable Colorado Industrial Tax Credit Offering tax credits for a Fort Lupton project. The project will install a 5th Generation Pyrolysis Pad to convert forest and agricultural biomass residues into bio-oil for permanent storage deep underground. The Colorado Energy Office describes the project as preventing carbon release into the atmosphere and reducing wildfire risk.

The Colorado Energy Office opened applications for another round of Clean Air Program funding on Oct. 20. It will host a Clean Air Program informational webinar on Oct. 28 at 1 p.m. MT. The Colorado Industrial Tax Credit Offering opens applications twice annually, with its next cycle opening Nov. 1. The office will host an informational webinar on the offering Nov. 4 at 11:30 a.m. MT.