On Tuesday, Xcel announced that they are planning to reduce thesolar energy rebates by $0.50 in the next month or two, and they wantto reduce their portion of the rebate to $0.05 by 2014. The SolarRewards program currently provides residential and commercial solarsystems with a $3.50 per watt rebate. This consists of a $2 rebate thatis required by the state, as well as a Renewable Energy Credit (REC)that can amount to up to $1.50 per watt, depending on the optimizationof the system. The REC is what Xcel is hoping to reduce.
Xcel is planning to make this reduction after the next round ofSolar Rewards reaches 500 kilowatts, which is projected to be by theend of October or by the year’s end. Before any changes can be made,this plan must be approved by the Colorado Public Utilities Commission.Currently, Gov. Bill Ritter and CoSEIA (Colorado Solar Energy IndustryAssociation) are in full support of the proposal and Xcel. They havemade substantial efforts to fulfill the requirements for utilitycompanies to get 20% of their energy from renewable sources by 2020.
The solar power rebates are continuing to drop, which means the timeto act, is now. With the other discounts Astralux offers, solar poweron your home or business is very affordable, but there is very littletime to waist.
More information on Xcel’s proposal can be found at http://denver.bizjournals.com/denver/stories/2009/10/26/daily29.html