Today, March 11, Xcel Energy and the Colorado Solar Energy Industries Association, along with several other interested parties, will convene at the Colorado Public Utilities Commission to, hopefully, reach an agreement on the future of Xcel’s Solar Rewards program.

On Feb. 17, Xcel reduced the rate of its solar rebate from $2.35 per watt to $2.01 per watt. However, Xcel was inundated with so many applications, the program reached its cap within 24 hours, and Xcel had to pull the plug.

This action drew strong protest from COSEIA and many Colorado solar installation companies, who said that the loss of the rebate basically froze the entire industry.

COSEIA held a rally at the Colorado Capitol building to drum up support for the issue. Meanwhile, Xcel put in a proposal to further reduce the Solar Rewards program to $1.25 per watt, a figure Xcel said is necessary given the price of solar nowadays, the costs the utility is incurring, and that fact that the program is designed to ratchet down.

Because of statutes set in place, Xcel cannot simply reduce the rebate rate without first seeking approval from the state’s Public Utilities Commission.

Colorado solar advocates and Xcel both argued their positions last week at the first PUC hearing. The result of which was a postponement of any decisions, a request for the parties to meet and begin to broker a deal, and to reconvene today.

According to Xcel Energy’s spokesperson Michelle Aguayo, the parties are very close to a deal. But she didn’t lay anything out in concrete terms.

Today’s meeting will possibly result in the unfreezing of the Solar Rewards Program, or a lower rebate for Colorado solar installations.

COSEIA did not respond to comment before press time.

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