Xcel Energy and representatives from Colorado's solar sector have agreed to a plan to cap installation incentives at $97 million over the next year for residential and small commercial PV installations.
The new agreement includes a reduction of $0.56/W for solar subsidies, as well as a sliding scale that will decrease incentives as installations are deployed in the state, the Denver Post reports. Xcel Energy spokesperson Michele Aguayo told the newspaper that the $97 million cap will cover 60 MW of solar installations, in addition to the 43 MW to which Xcel has already committed.
Last month, Xcel announced controversial cuts to its Solar*Rewards program. Following public and solar-sector outcry, the Colorado Public Utilities Commission (PUC) instructed the industry and Xcel Energy to reach an agreement within a designated timeframe.
The PUC is expected to review the latest agreement later this week.
SOURCE: Denver Post
