XCEL Solar Rewards Rebate
Xcel has extended their SolarRewards program in Minnesota as a result of a ruling by the MN Department of Commerce, requiring that the program must continue to be funded at $5 million per year through 2015.
This is great news for consumers looking to make the switch to solar as well as companies involved in the local solar industry. We've definitely breathed a collective sigh of relief around the office when the decision was announced.
We're pretty excited about the level of the new incentives as well. The $5 million will be distributed to customers at $1.50 per watt. This means that for each of the next 3 years, at least 3.3 MegaWatts of solar will be installed. For a little perspective, consider that to date Minnesota has a total of 5.83 MW installed (NREL). We are really looking forward to helping Minnesota double more the solar capacity in the next two years, and keep it growing well beyond that!
The large volume of solar that can be installed with the new rebates is awesome, but it doesn't mean that you've got the option to wait until the middle of next year to sign up for solar. Applications for the funding can be submitted beginning in January, and installers will be submitting all of their projects that didn't receive funding because the money ran out in 2012. So right away, a very large chunk of the funding will be used up. We're not exactly sure how long it will take for the rest to be allocated, but if I was a betting man I wouldn't plan on being able to wait past March. It's possible that it could all be allocated for 2013 by the end of January.
So what does this all mean for you, the person who's not sure whether or not they're ready but who is interested in solar? Sign up to receive a free quote ASAP. We want to work with you and figure out the best solution to help you go solar. Also, the more everyone knows about the actual facts regarding solar the better the industry is going to do. We see education as part of one of our main responsibilities as a leader in the local solar industry, so help us out by asking us your solar questions!
Minnesota Made Bonus
In addition to the Solar Rewards Program, the Minnesota Made bonus allows customers to get a total of $5/watt rebate when combined with Solar Rewards. The cost of Minnesota Made panels is definitely higher, but with the higher rebate level the price for installing Minnesota made solar panels for your home or business is still comprable to traditional panels. You also get the additional benefits of completely supporting the local solar industry, as well as using panels that NREL testing show last much longer than traditional panels.