Last Updated March 10, 2021
Commercial, Industrial, Residential, Commercial, Industrial
Eligible Renewable/Other Technologies:
Solar Photovoltaics, Solar Photovoltaics
Note: The Solar*Rewards Program has capacity limits that are allocated on a monthly basis for the Small Program and quarterly for the Medium Program. These allocations typically fill quickly when the application windows open. Check the program website for the latest information on available capacity remaining and other program updates.
Xcel Energy's Solar*Rewards Program provides incentives for customers who install grid-connected photovoltaic (PV) systems sized up to 120% of the average annual load of their homes and facilities. Xcel purchases the renewable energy credits (RECs) produced by the systems for a period of 20 years (unless other legal provision supersedes). The size of the REC payment depends on the size of the system and the owner of the system, as shown below. The follow REC payments are in effect as of November 2015. Check the website above for changes to REC pricing.
For more information, visit the program website or view Xcel Energy's approved 2014 Renewable Energy Standard Plan.
Small Program (0.5 – 25 kW) – Standard Offer
The Small Program offers payments of $0.005 per kilowatt-hour (kWh) for eligible systems. The annual capacity limit for the Small Program is 12 MW.
Medium Program (25.1 kW – 500 kW) – Standard Offer
The Medium Program offers a payment of $0.0375 per kWh for eligible systems. Up to 12 MW of capacity will be approved for each half of the year, for an annual capacity limit of 24 MW.
Large Program (>500 kW) – Competitive Bid
Incentives for 20 MW of capacity are available in 2021. 20% of this capacity (4 MW) is targeted towards cost-effective projects between 500 kW and 1.5 MW in capacity.
Net metering is available for Xcel Energy's customers, with net excess generation (NEG) at the end of a monthly billing period credited to the next month’s bill. If a customer has NEG at the end of a calendar year, the customer will be paid for the credit at a rate comparable to the utility's avoided-cost rate, or the customer may make a one-time election to have the NEG carried forward from month to month indefinitely as a kilowatt-hour credit.