New Energy Insights Blog

2020 Solar Trends: Xcel Solar Rewards Program

By: Kyle Wehnes

 

Xcel's Solar*Rewards?? program provides a financial incentive for residents, businesses and public entities to install solar power. Monthly payments are made to the owner of the solar system in exchange for Renewable Energy Credits (RECs) produced by solar. This is known as a performance-based incentive or PBI.

Xcel customers also qualify for Net Metering up to 1 megawatt AC (or enough power for roughly 200 homes). If you generate more than you need, the extra energy is added to the grid, and any excess energy will be credited to your bill.

Additionally, there's a specific sub-program for under-resourced communities and income-qualified multi-family. It is important to note that small commercial incentives levels are decreasing. Also, large projects qualify for a separate bill-credit mechanism called capacity credit program or ELPC which was strengthened in 2019.