Xcel Energy Solar Rewards


Program Type Utility Rebate Program (Renewable Energy Certificates or RECs) and net metering
Technologies Solar Hot Water Heating
Amount Rebate of $1 per watt as well as $0.09 per kWh
Required Documentation Dependent on the method of installation (either you or a contractor)
Official Web Site http://www.xcelenergy.com/Colorado/Residential/RenewableEnergy/Solar_Rewards/Pages/home.aspx
Xcel Energy’s Solar Rewards reimburses its customers for approximately half the cost of installation of a solar system. Reimbursement is in the form of a $1 rebate for every watt installed and Renewable Energy Credits (RECs). Upon installation of the system, Xcel will replace your old meter with a net meter which moves forward and backward depending on if more energy is produced than consumed. If your system produces more energy than the household consumes, you can choose to be compensated for surplus energy produced by either Continuous Rollover Credits or by Year-end Payout.

With Continuous Rollover Credits, the excess energy produced will go onto the grid to be used by other Xcel customers and you will be credited in your “Solar Bank.”When you are forced to pull energy from the grid (at night, for example) instead of being charged, the credit will be deducted from the Solar Bank. If you opt for the Year-end payout, Xcel will keep a tally of any excess energy your system has produced over the year and you will be reimbursed annually (in January).

With the Solar Rewards program, you can have a solar system that is expected to produce up to 120 percent of the energy needs of your household, so in building a renewable energy household exists the potential to create a source of revenue.

While the Solar Rewards program substantially offsets the cost of installing a solar system in your home, it’s a good idea to have the money for the installation at hand. You will only be reimbursed after the system has been installed and inspected. If the upfront costs are more than you can handle, some installers will pay the initial costs for you and ask that you pay them the post-rebate cost. For those Xcel Energy customers with a do-it-yourself mentality, you can cut corners by installing the solar panels yourself.

Qualifying homes should have a roof oriented to the south, east, or west. In order to be eligible for Xcel’s rebate program, you should have a roof free of shading/obstruction, homeowner’s insurance covering $300,000 in liability, and permission from your homeowner’s association where applicable.