Xcel Energy provides a 10-year financial incentive to Xcel Customers to greatly offset the cost of installing your own PV Solar System. Xcel Energy’s goal is to help you produce your own home or business renewable solar energy, which will in turn improve our earth’s energy mix.
TruNorth Energy Consultants are now creating applications for new solar customers for the $10 million available through the 2024 Xcel Solar Rewards Program. TruNorth Solar Energy Consultants are happy to visit with you at your home to learn about your electrical needs.
Our consultant can predict your overall savings when participating in the Xcel Solar Rewards Program at no cost to you. The presentation includes customized spreadsheets and CAD designs of your rooftop. Your TruNorth Solar Energy Consultant can also take care of filing your Xcel Solar Rewards application.
Here are the basics of the Xcel Solar Rewards Program:
- The Xcel Solar Rewards Program is available for Minnesota property owners who live in Xcel Territory.
- Those who apply early for the Xcel Solar Rewards Program and are accepted will receive a performance based incentive (PBI) of $.02 – .04 per kWh produced by the PV system depending on a few factors (ask your Energy Consultant for the lastest incentive rate information).
- The incentive is paid annually for 10 years, with payment being made by check in January and February of each year depending on your billing cycle.
- The Xcel Solar Rewards Program applies to systems that are 40 kw-DC or less and are not over 120% of on-site consumption.
In addition to the annual incentive payments, you will be lowering your electricity bill as your array produces power. If you produce more than you consume in any given month, excess kilo-watt hours will show up as a credit on your bill.
Once approved, TruNorth Solar will design and construct your solar array, handle the proper inspections and order your Solar Rewards Program meter from Xcel. The next thing you know, you have your own clean energy power production facility on your property!!
Combined with this Xcel Solar Rewards Program, you would likely eligible for the Federal Solar Tax Credit which is a year-one 30% tax credit for you that is calculated on the overall cost of your solar system. TruNorth Solar will show you your estimated payback schedule (typically payback is 7-12 years) and estimated cost savings over a 25-year period that in most cases begins on day one!
TruNorth Solar will customize with you a solar array that best meets your financial and energy use needs!
The Xcel Solar Rewards Program is awarded on a first come first served basis, so feel free to fill out our online form and we will contact you shortly. Or give us a call at 612.888.9599 to chat with our TruNorth Energy Consultants to set up an appointment to get started with low cost renewable energy for your property.
And remember, money isn’t all that you’re saving!!