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Xcel Energy filed with the Colorado Public Utilities Commission (CPUC) its 2012 Renewable Energy Standard Compliance Plan, showing its continued work to meet the state’s renewable energy standard of 30 percent renewables by 2020. The regulators’ decision on the filing is expected in early 2012 after public comment and hearings on the plan are completed.
The filing highlights that Xcel Energy is well ahead of targets to meet the renewable energy standard. It also proposes the level and pricing for its Solar*Rewards program through 2013.
The company plans to continue on the path outlined in the March 2011 settlement with the solar industry and to acquire up to an additional 30 megawatts of customer-sited solar energy each year in 2012 and 2013. The 30 megawatts is double the amount of customer-sited electricity above what is needed to meet minimum compliance with the renewable energy standard.
The proposed 2012 plan also aims to balance the Renewable Energy Standard Adjustment (RESA) fund—money collected from a two percent charge on customers’ electricity bills and used by Xcel Energy to cover the cost of renewable energy. More money for renewable energy projects has been spent than received from customers. Xcel Energy advanced funds to the RESA, as encouraged by law, to help “jump start” the solar industry and customer interest in solar, and to maintain its steady level of support for solar installers in Colorado.
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