Since 2010, Minnesota solar installations have seen a significant rise in interest thanks to generous rebates offered by XCEL Energy and the falling price of solar modules globally.
2011 saw all 4.6 million dollars of XCEL rebate funds allocated by August. In 2012 remaining funds from the 2010 XCEL rebate cycle were included for a total of over 8 million dollars in rebate funding that was fully allocated by April.
Yet that still wasn’t enough! After all 8 million dollars of 2012’s funds were used up the applications continued to roll in and get first priority for 2013 funds. Once the 2012 SolarRewards application closed, 73 percent of the 4.6 million dollars for 2013 were already accounted for.
Utility rebates represent a crucial element for solar energy as it continues to establish itself as the energy source of the future. With the federal tax credit, local utility rebates, and other incentives, 60 - 70 percent of the total cost of a system can be covered, making solar a very affordable option that will save customers tens of thousands over the life of the system.
Just like in 2012, applications for rebates through XCEL will stay open for an undisclosed period of time, allowing applications to reserve 2014 funds. We are fairly certain that all of the 2013 SolarRewards funding will be allocated very quickly after this coming Monday, meaning that it is very likely that most of next year’s funding will be reserved within the next month or two.
No matter where you are in exploring solar for your home or business, let All Energy Solar guide you through the process so you don’t miss out on being able to go solar. As of right now, you can still get a system installed with rebate funding this year or next, but that won’t last long. Give us a call today at 800-620-3370 or fill out the Free Solar Quote form.