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Adobe Solar Blog
Adobe Solar Blog
Xcel Rebates Fallin’ Fast!
December 04 2009 - 3:47:38:pm by Greg
In late October, the Solar Rewards Program at Xcel Energy unveiled their plan to quickly reduce solar rebates monies avalible their Colorado electric customers. Xcel explained that they are not collecting sufficient monies from their customer base to continue funding the rebate program at current levels. Thus, Xcel was forced to quickly reduce the payment of solar energy system rebates to its customers. To accomplish this task, Xcel’s Solar Rewards Program has implemented a 12-step tiered rebate reduction. This tiered rebate reduction is front end loaded, with high rebate payment reductions and few available rebates in the begging steps, and much lower rebate payments and many more available rebates in latter tiers. In past weeks this reduction has been a success for Xcel and has lead to a REC payment reduction of over 50% since its implemented in late October, 2009. Xcel’s REC payment for small customer owned PV systems has now fallen from to step #1 of $1.50/watt DC, to step #3 of $.85/ watt, and if these rebates continue falling at current rates, we estimate that the rebate will drop to step #5 of $.55/watt DC by February 2010. What does this all mean? If you are thinking about solar, you may want to apply for your rebate ASAP, before the rebates go down further.
It may also be woth noting that Xcel no longer determines rebate levels based upon time/date of application, but in Step 1 of the rebate process as shown on their website. In addition, in recent months Xcel has begun to require application, $250.00 deposit, and signed rebate letter before you will be guarenteed to rebate level. This means that although you may sumbit application today when the solar rewards REC payment is in step #3, it is possible that step #3 has already been exausted by other rebates that are already waiting in the cue, and by the time your rebate has been approved your applicaiton may be accepted but at a lower rate.
For more info on the latest information about Xcel Enegy’s Solar Rewards Rebate: CLICK HERE
