Xcel Energy Solar Rewards Program
| Program Type | Rebate |
|---|---|
| Technologies | Photovoltaics |
| Amount | Up to $90,000. Paid at $2.25 per installed Watt of DC solar power |
| Required Documentation |
Create a user account with Xcel Energy at xcelenergysolarrewards.com, start the application process there. |
| Official Web Site |
http://www.xcelenergy.com/Minnesota/Residential/RenewableEnergy/Solar_Rewards |
This is offered as just one example of utility rebate program. Since all utilities in the state are impacted by Minnesota’s RPS, all offer some incentives to help homeowners convert to solar or other renewable energy.
Xcel Energy offers significant financial incentives for grid-connected PV systems for its customers. Rebates can add up to $90,000 for installed systems of up to but not exceeding 40 kW. In exchange for receiving the rebate, the customer must enter into a 20-year contract with Xcel for all RECs generated by the system during the contract’s life. As of November 15, $1.4 million of the $4.6 million Xcel reserved for the program in 2010 was still available.
The up-front rebates are offered at $2.25 per installed DC Watt. However, Minnesota is funding a Minnesota Made program under which additional funds are available for the rebate. Under the Minnesota Made program, Xcel is offering an additional $2.75 per watt DC for systems assembled in Minnesota, bringing the total rebate to $5.00 per watt DC. The Minnesota Made rebates are paid out over a five-year period through Xcel. In addition, Xcel will buy excess generation of the system through its net-metering program.
To qualify for the rebates, the applicant must be an Xcel customer, and the project must be located in Minnesota. New construction is eligible for the rebates, but they must have an Xcel meter onsite and Xcel must be the electric provider. For existing structures Xcel must have performed an energy audit within the last three years and may be required to have implement some of the recommendations identified in the audit before participating in the Solar*Rewards program. Energy Star certified homes and buildings are not required to undergo an audit to participate.
The customer must submit the application and receive approval for the system prior to installing it. And they must pay the $250 application fee, which is refunded is the application is denied or the customer withdraws the application before having an engineering review.
