(Colorado) Xcel Energy – Solar*Rewards Program
Xcel Energy’s Solar*Rewards Program provides incentives for customers who install grid-connected photovoltaic (PV) systems sized up to 120% of the average annual load of their homes and facilities in exchange for the renewable energy credits (RECs) produced by the systems. All REC purchases are for a period of 20 years unless other legal provision supersedes.
The size of the REC payment depends on the size of the system and the owner of the system as shown below. These payments will step down over time as distinct capacity levels, in megawatts (MW), are reached for each system classification. The follow REC payments are in effect as of July 2, 2012. Check the web site above for current REC pricing.
- Customer-owned systems 0.5 kW – 10.0 kW DC: $0.15 per kilowatt-hour (kWh) for first 10 years of production (kWh)
- Third-party-owned systems 0.5 kW – 10 kW DC: $0.10 per kWh for first 20 years of production
- Customer-owned or third-party-owned systems 10.1 kW – 500.0 kW DC: $0.09 per kWh for first 20 years of production
- Customer-owned or third-party-owned systems 500.1 kW or greater: determined through competitive bid process.
To qualify for a solar rebate, participants must submit an application and receive approval from Xcel Energy prior to installing the system. A list of PV modules and inverters eligible for the rebate is available on the California Energy Commission’s web site. All PV systems must carry a five-year warranty from both the manufacturer and the installer, including parts and labor.
Net metering is available for Xcel Energy’s customers, with net excess generation (NEG) at the end of a monthly billing period credited to the next month’s bill. If a customer has NEG at the end of a calendar year, the customer will be paid for the credit at a rate comparable to the utility’s avoided-cost rate, or the customer may make a one-time election to have the NEG carried forward from month to month indefinitely.
Note: This program was reauthorized by the Colorado Public Utilities Commission in June 2012. The new program, as redesigned, has new incentive levels for 2012, and has funding to support 30 megawatts (MW) of new solar installationseach year in 2012 and 2013. The 30-MW sum is divided among small, medium and large installations, and a newSolar*Rewards Community program.
|Incentive Type:||Performance-Based Incentive|
|Eligible Renewable/Other Technologies:||Photovoltaics|
|Applicable Sectors:||Commercial, Residential, Nonprofit, Installer/Contractor|
|Amount:||Incentive amounts will step down over time as certain MW targets are met
Incentive amounts as of 7/2/2012:
Customer-owned systems up to 10 kW: $0.15/kWh for first 10 years of production
Third-party-owned systems up to 10 kW: $0.10/kWh for first 20 years of production
Systems 10.1 kW up to 500 kW: $0.09/kWh for first 20 years of production
|Eligible System Size:||Minimum size of 0.5 kW
Limited to 120% of average annual consumption of the site
|Equipment Requirements:||Eligible modules and inverters are listed on the California Energy Commission web site;
Solar systems must carry a five-year warranty from both the manufacturer and the installer, including parts and labor.
|Ownership of Renewable Energy Credits:||Xcel Energy|
|Start Date:||3/1/2006; 6/20/2012 for most recent changes|