Friday May 3, 2013 0 commentsDENVER - Xcel Energy and Colorado's solar industry have reached agreement on a plan to triple the size of the utility's popular solar panel incentive program, according to a story in today's Denver Post.
The Post story said the agreement between Xcel - the state's largest electricity provider - and the solar industry comes after the 9.8-megawatt allocation for solar in 2013 was tapped out in April.
Under the proposed plan outlined in an email to solar installers, Xcel said it will make up to 33.6 megawatts of solar panel installation rebates available for small residential and commercial installations.
The average solar installation for a Colorado home is about 5.5 kilowatts, the story said.
On April 30, Xcel announced it would seek to continue its SolarRewards program because capacity in the program had been fully subscribed. The program offers rebates on solar systems, with more than $212 million paid between 2006 and 2010.
"Coloradans have continued to show interest in onsite solar installations," said David Eves, president and CEO of Public Service Co. of Colorado, an Xcel Energy company.
"We believe it is important to keep this program available to the market for the remainder of 2013. By moving forward capacity that was planned for next year."
The agreement must still be approved by the Colorado Public Utilities Commission.