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Adobe Solar Blog
Adobe Solar Blog
Xcel to Restart Colorado Solar Program
March 18 2011 - 5:55:36:am by Greg
After many days of negotiations, Xcel Energy has finally agreed to restart its Solar*Rewards program. Xcel has expressed that they may restart the program as early as next week, pending PUC approval this Friday, March 18th.
The agreement that was reached between Colorado's solar industry and Xcel Energy had to address three primary goals:
- Provide greater predictability and stability for solar businesses and customers
- Address current cash flow challenges for the program
- Reduce the $100 million debt load for the current program
COSEIA and its coalition partners, were able to negotiate the up-front incentive payment to $1.75/watt + $0.04/kWh performance-based incentive over 10 years for the small customer-owned category. Only a few weeks ago the up-front payment for this rebate was $2.35.
Third-party owned and mid-sized programs will move immediately to a performance-based incentive (PBI), paid over a 20 year period:
- Small third-party owned systems $0.16/kWh PBI
- Mid-sized systems $0.15/kWh PBI
As with before, all incentives will ratchet down quickly over time based on capacity installed. These actions taken by Xcel will help to slow the growth of the Colorado solar market, and help to prevent many Colorado homeowners from being able to hedge long term energy costs by installing solar system on their homes.