Xcel offers rebates to solar energy users

subscribe

Energy offers rebates to customers who use solar systems in residential and commercial applications.

Mark Stutz, Xcel spokesman, said the company has paid nearly $31.3 million in rebates and purchases of Renewable Energy Credits through its Solar Rewards Program. Those payments went to 1,525 consumers, Stutz said, adding the company has received nearly 2,300 applications.

Xcel will rebate customers $2 per watt of solar panels installed on customer premises, up to 10,000 watts - or 10 kilowatts. Also as part of the program, the company will buy Renewable Energy Credits generated by customer systems for $2.50 per watt. These credits then will be counted toward the company's Renewable Energy Standard requirements, which were approved by voters in November 2004 under Amendment 37 and subsequently clarified by the legislature in the 2005 session.

The combination of the rebates and the credits will generate a total return to customers of $4.50 per watt under the Solar Rewards program.

Total payments to customers through Solar Rewards would be in the $9,000 to $13,500 range, depending on two or three kilowatts of demand. Consumers also may pursue federal government tax credits for about $2,000, which covers about half the installation cost.

In total, more than 5.84 megawatts of capacity has been added to the grid from the Solar Rewards Program for less than 10 kilowatts of demand. One megawatt-hour typically serves about 750 homes in Colorado, Stutz said.

Related News

offshore wind power

BloombergNEF: World offshore wind costs 'drop 32% per cent'

DENMARK - World offshore wind costs have fallen 32% from just a year ago and 12% compared with the first half of 2019, according to new research from BloombergNEF.

In its latest Levelized Cost of Electricity (LCOE) Update, BloombergNEF said its current global benchmark LCOE estimate for offshore wind is $78 a megawatt-hour.

“New offshore wind projects throughout Europe now deploy turbines with power ratings up to 10MW, unlocking CAPEX and OPEX savings,” BloombergNEF said.

In Denmark and the Netherlands, it expects the most recent projects financed to achieve $53-64/MWh excluding transmission.

New solar and onshore wind projects have reached parity with average wholesale…

READ MORE
wires logo

Senate Committee Advised by WIRES Counsel That Electric Transmission Still Faces Barriers to Development

READ MORE

ontarios-electricity-future-balancing-demand-and-emissions

Ontario’s Electricity Future: Balancing Demand and Emissions 

READ MORE

ireland power

Ireland goes 25 days without using coal to generate electricity

READ MORE

renewable power sources

UN: Renewable Energy Ambition in NDCs must Double by 2030

READ MORE