Customer-owned systems 0.5 kW - 25 kW: $0.02/kWh for first 10 years of production
Third-party-owned systems 0.5 kW - 25 kW: $0.01/kWh for first 20 years of production
Medium-sized systems 25.1-500 kW: $0.05/kWh
Note: As of July 31, 2015, the Small Program had been fully subscribed through the end of 2015.
As of September 3, Xcel Energy (Public Service Company of Colorado) had been fully subscribed through October 2015 for the Medium Program. Any additional applications will be reviewed in Q4, in the order in which they were received. Xcel Energy already has enough applications to reserve 2.47 MW of the remaining 3 MW.
Xcel Energy's Solar*Rewards Program provides incentives for customers who install grid-connected photovoltaic (PV) systems sized up to 120% of the average annual load of their homes and facilities in exchange for the renewable energy credits (RECs) produced by the systems. All REC purchases are for a period of 20 years unless other legal provision supersedes. The size of the REC payment depends on the size of the system and the owner of the system as shown below. These payments will step down over time as distinct capacity levels, in megawatts (MW), are reached for each system classification. The follow REC payments are in effect as of January 2015. Check the website above for current REC pricing.
For more information, visit the program website or view Xcel Energy's approved 2014 Renewable Energy Standard Plan.
Small Program (0.5 – 25 kW) – Standard Offer
For the calendar years 2015-2016, the Small Program offers a 20-year contract (where REC payments are made for 10 years for 20 years worth of RECs) of payments of $0.02 per kilowatt-hour (kWh)) for eligible customer-owned systems. The Small Program also offers a 20-year contract (where REC payments are made for 20 years for 20 years worth of RECs) of payments of $0.01 per kWh for eligible third-party-owned systems. The capacity limit for the Small Program is 2 MW per month, for an annual capacity limit of 24 MW. For both ownership categories, there is a non-refundable interconnection study fee of either $100 (<10 kW systems) or $1,000 (>10 kW systems) and a $250 deposit (refundable if application completed within 365 days).
Medium Program (25.1 kW – 500 kW) – Standard Offer
For the calendar years 2015-2016, the Program offers a payment of $0.05 per kWh for eligible customer-owned or third-party-owned systems. Up to 3 MW of capacity will be approved each quarter, for an annual capacity limit of 12 MW. There is a non-refundable interconnection study fee of either $1,000 (25—250 kW systems) or $2,000 (>250 kW systems) and a $1,500 deposit (refundable if application is completed within 365 days).
Large Program (>500 kW) – Competitive Bid
Incentives under the Large program are determined through a competitive bid process (Request for Proposals). There are two types of non-refundable fees associated with the Large program: (1) a bid evaluation fee of $500 and (2) an interconnection study fee of $2,000.
To qualify for a solar rebate, participants must submit an application and receive approval from Xcel Energy prior to installing the system. A list of PV modules and inverters eligible for the rebate is available on the California Energy Commission’s website. All PV systems must carry a 5-year warranty from both the manufacturer and the installer, including parts and labor.
Beginning on January 4, 2016, and going forward, the program will open and close monthly, as each month's 2 MW capacity limit is reached. The program will always reopen at 8 a.m. MT on the first business day of the month, and will remain open only until the 2 MW capacity for that month is reached. Once filled, the system will no longer accept additional applications until the next month.
Net metering is available for Xcel Energy's customers, with net excess generation (NEG) at the end of a monthly billing period credited to the next month’s bill. If a customer has NEG at the end of a calendar year, the customer will be paid for the credit at a rate comparable to the utility's avoided-cost rate, or the customer may make a one-time election to have the NEG carried forward from month to month indefinitely as a kilowatt-hour credit.