Xcel Energy, a U.S.-based electrical and natural gas company, has changed its Solar*Rewards program to include an immediate reduction in the combined program incentive and a filing with the Colorado Public Utilities Commission (CPUC) for approval to lower the rebates offered through the program for on-site solar energy installations.
The combined Solar*Rewards incentive for small, customer-owned systems (0.5 kW to 10 kW) will now be paid at $2.01/W, down from the former $2.35 per watt. The medium and third-party-owned programs will be adjusted similarly. There will be no incentive change for applications that have already been approved.
Xcel Energy says it also is filing with the CPUC for approval to change the rebates for participants at the four program levels. For example, upon commission approval, Xcel Energy plans to offer a combined incentive of up to $1.25/W for small systems.
The changes are prompted by the decline in solar panel costs and increasing subsidization from government programs, according to Xcel Energy. Together, these developments have reduced the level of incentives needed to support customer participation in Solar*Rewards.
SOURCE: Xcel Energy