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 incentives (REPI) payments. 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.

Third Funding Cycle Selections are Complete

Xcel Energy in May 2007 announced its third round of funding with up to $23 million available to support new ways to produce electricity from renewable sources. Funding is available for various-sized projects in two categories: energy production, and research and development.

Grant applications were submitted by July 12, 2007. The seven-member Renewable Fund Advisory Board evaluated and selected proposals recommended for funding. Project awards have been submitted for approval to the Minnesota Public Utilities Commission who make the final decision on RDF awards.

Fund Provides More Than $50 Million in First and Second Cycles

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 of new renewable energy sources and energy production leading these technologies toward full commercialization. Past projects and current projects  included wind, biomass, solar, hydro, bio fuels and an innovative energy project involving coal gasification. The first round 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 has committed to funding nearly $53 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 Renewable Development Fund.

If you have further questions or would like to be on our mailing list, send us an email or contact the Board.

Bookmark this page for easy reference. Also note that for your convenience, we’ve created a short-cut URL, www.xcelenergy.com/rdf/.