The Xcel Energy Solar Rewards Incentive Program is set to open in late May or June 2014 and is a rebate paid to you by Xcel Energy, over ten years, based on how much residential solar power you produce.
[rps-include-content blog=”1″ post=”844″]What this means to you is if you take part in the Solar Rewards program now, you will be paid $.08 cents per kilowatt hour (KWh) of energy you create.
Ten years from now, you will still be generating electricity from residential solar panels to off-set your bill. The Solar Rewards Program is a residential solar power incentive program to help people quickly pay down their investment in solar energy.
Now, if you looked into solar last year, or have done an internet search, you know the Xcel Solar Rewards Program used to pay you upfront, for your next 20 years of estimated energy production.
The upfront payment for Solar Rewards has now been changed. Now, this new Performance Based Incentive (PBI) is paying you each year for what you actually produce.
Imagine getting a check from Xcel Energy! This is what will happen for anyone who moves forward with generating solar power at your home in the coming month.
If you have been considering putting solar power on your home, Solar Rewards is your last opportunity for 2014 – to actually get paid to produce energy.
This is excellent news for you if you are considering solar, because it makes the financial return you get on solar, much more attractive.
The State of Minnesota has already stated this year’s round of funding for Solar Rewards will be $.08 cents per KWh followed by $.06/KWh in 2015, and $.04/KWh in 2016.
If you would like a friendly consultation to assess if solar is right for you or your business, please contact TruNorth Solar 651-587-6341