Hot Summer Incentives for Solar

May 28, 2010

 

March, 2010 
Xcel Energy of Minnesota announced they will be awarding their electric customers an incentive for adopting solar electric systems for their homes or businesses. This program has been implemented in other States where Xcel Energy provides electricity and has been a huge success. The goal is to help with the upfront cost of solar and allow customers to benefit from the free energy the solar electric system will generate.
Xcel Energy will provide up to $90,000.00 to their customers in incentive pay, in return Xcel Energy will own the customers Renewable Energy Credits which are created when electricity is generated through renewable sources. The contract will be for 20 years, after which the customer will have full rights to the Renewable Energy Credits for the remaining 5 years.
Xcel will award each customer who qualifies for the incentive with a check that will be mailed to the customer within 30-60 days after the system has been installed and inspected. They will come up with the dollar amount for the award before any construction begins on the project. For example, if a Customer decided to install a 4000 watt solar electric system Xcel Energy would award the customer with $2.25/watt or a total of $9,000.00. Additionally the Federal Government offers a 30% tax credit which helps dramatically with the over all cost. The two incentives combined pay for over 50% of the system.

More information on the program can be found at Solar*Rewards. If you would like to speak to someone or have questions on how to qualify for the program contact your All Energy Solar representative at 800-620-3370 or visit us AllEnergySolar.