Xcel Energy Cuts Rebates

Date: February 16, 2011
Topic: Solar*Rewards change filing
Today, Xcel Energy filed an application with the Colorado Public Utilities Commission (CPUC) requesting
a reduction in the on-site solar rebate from $2.00 to $0.25 up-front payment, for systems up to 100
kW. Effective immediately, we have lowered our purchase price for Renewable Energy Credits (RECs).
Between the February 16 and Commission decision on lowered rebate
Until the PUC makes a decision on our filing, we will accept up to 3 MW of Solar*Rewards applications
with REC pricing according to the chart below. Applications will be considered for approval until the
capacity limit is reached.
REC Payment Amounts
Systems Customer-Owned Third Party Developer
Small 1¢/watt DC upfront .1¢/kwh produced (1/10 of 1¢)
Medium
(Tiers 1 & 2)
$1/MWh produced $1/MWh produced
Application kW is counted toward the capacity at the time of submission.
The $2.00/watt Rebate is still applicable.
Why We Filed For This Change
Solar*Rewards was established to encourage customer adoption of on-site solar and to make sure the
technology is included in Colorado’s energy mix. The program has been successful and we want to
continue to offering it to our customers.
Since the program began in March 2006 and through the end of 2010, you’ve installed 76 megawatts
of solar energy under the program. And we’ve distributed $178 million in rebates to customers.
The solar industry continues to grow, and the technology is becoming more affordable. As the cost of
on-site solar drops, we need to be able to adjust the incentives accordingly.
Customers pay for Solar*Rewards through a two percent charge on their electric bills. We are
responsible for ensuring these funds are used wisely
Next Steps
We will hold a meeting for installers
Thursday, February 17
1:30 – 3:00 pm
Xcel Energy offices at 1800 Larimer, Room 03G01 (Denver, CO)
Call-in number: 612-330-7955, ID 4715
We will file a Renewable Energy Standard Compliance Plan with the CPUC this spring that
outlines the future of the program for 2012 and beyond. The plan includes Solar Gardens
projects as well.
Please refer to xcelenergy.com/solar for more information and regular updates Or contact us at
solarprogram@xcelenergy.com.