Renewable Development Fund
The Xcel Energy Renewable Development Fund (RDF) is financed by Xcel Energy ratepayers to promote the start up, expansion and attraction of renewable energy projects and companies in the Xcel Energy service area. It also stimulates research and development into renewable energy technologies. Both efforts are designed to increase the market penetration of renewable energy resources at reasonable costs.
Project funding to date has been in the form of grants and renewable production incentive (REPI) payments. RDF grants have been awarded to research Universities, non-profit organizations, commercial businesses, and governmental agencies. Grants support commercial technologies and research and development. The REPI is paid to qualifying small wind, biogas and hydroelectric projects operating and generating electricity in Minnesota.
The RDF is governed by a seven member RDF Advisory Board consisting of two representatives of environmental organizations, one representative of the Prairie Island Indian Community, an industrial/commercial ratepayer representative, a residential ratepayer representative, and two representatives of Xcel Energy. The RDF Advisory Board selects proposals for grant funding, identifies funding priorities, and assures that Minnesota Public Utilities Commission (MPUC) RDF initiatives are met
RDF Third Cycle Projects Approved
Seventeen Research and Development projects that total more than $14 million and five energy production projects that total more than $8 million were selected by the RDF Advisory Board and subsequently approved for funding by the Minnesota Public Utilities Commission in April 2008. In addition, two reserve projects were selected in the event that a prior project is not able to move forward.
RDF Provides More Than $50 Million For First and Second Cycle Projects
The second cycle of the Xcel Energy RDF program, completed in 2005, funded 29 projects for nearly $37 million. Funding was split between research and development projects and energy production projects. Completed projects and active projects included wind, biomass, solar, hydro, bio fuels and an innovative energy project involving coal gasification. The first cycle of the Xcel Energy RDF program, completed in 2001, resulted in the selection of 19 projects that received nearly $16 million in funding.
To date, Xcel Energy’s RDF has committed to funding nearly $75 million for projects to identify and develop new or emerging renewable energy sources. Use the links at left to find more information about the Xcel Energy RDF.
Due to current funding obligations and legislative initiatives, a 4th RDF funding cycle has not yet been scheduled. If you have questions regarding the RDF or wish to be informed of future RDF funding opportunities please call 1-800-354-3060 or send an e-mail to RDFstaff@xcelenergy.com.
Bookmark this page for easy reference. Also note that for your convenience, we’ve created a short-cut URL, www.xcelenergy.com/rdf/.