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Xcel Energy launches new Solar Rewards program

Redesigned program offers an enhanced solar option for customers

MINNEAPOLIS – With today’s launch of a new Minnesota Solar Rewards program, Xcel Energy is providing an enhanced choice for customers interested in installing solar installations on their rooftops.

“Our redesigned Solar Rewards will encourage greater program participation and maximize the generation produced from rooftop solar projects,” said Dave Sparby, president and CEO of Northern States Power Co.-Minnesota, an Xcel Energy company. “New, production-based incentives will encourage participating customers to install and maintain efficient systems and will match payments to the amount of electricity generated.”

Under the new Solar Rewards, participants who install photovoltaic systems totaling up to 20 kilowatts on their property will receive an incentive based on the amount of energy their rooftop systems produce, a change from the previous program’s one-time, upfront payment. In 2014, participants will receive an 8-cent incentive per kilowatt-hour. In addition, customers will receive a bill credit equivalent to the retail rate for surplus energy produced by their systems but not consumed.

Participants will receive an annual payment for 10 years, based on their system’s yearly generation. Incentive amounts for new participants may change in subsequent years pending approval of the Minnesota Public Utilities Commission. The program will operate a first-come, first-served process for newly submitted applications each year until annual allocations are depleted. The program will be funded with $5 million annually from Xcel Energy’s Renewable Development Fund.

For more information about the Solar Rewards program and the application process click here.
Xcel Energy is also pursuing plans for large-scale Read More ...

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