Xcel Energy Solar*Rewards is a performance-based program, which means you get paid for how much energy the system actually produces.
Earn $0.08 per kWh produced from the PV system over 10 years, paid annually.
Customers also benefit from net metering. A net metering bill credit amount of more than $25, will be compensated by check that month. A credit of less than $25 will be rolled over to the next monthly bill.
Get paid by Xcel for the extra solar power your home or business solar installation produces!
To Qualify for Xcel Energy Solar Rewards:
You must be a Minnesota Xcel Energy customer.
Residential, Business, and Non-profits are all eligible to apply.
You must own both the property and the solar PV system to be installed.
Install a system that produces between 0.5 and 20.00kW. Systems of 20.01kW do not qualify.
The installed solar PV system must not exceed 120% of the customer’s on-site annual energy consumption.
Sign a 10-year Solar*Rewards contract, agreeing to convey all of the Renewable Energy Credits (RECs) produced by the system to Xcel Energy for the ten-year term of the contract.
Installations must be completed within 365 days of submission.
What is Xcel Energy’s Solar*Rewards Program?
Xcel Energy is Minnesota’s largest investor owned utility (IOU), which provides about half the state’s energy. The State of Minnesota is requiring Xcel Energy to have 30% of it energy supplied from renewable sources, such as solar PV systems by 2025.
Since 2014, Xcel Energy is required to offer a solar production incentive for systems 20 kW-DC or less. This program is called the Solar*Rewards® program, and began its second year on January 2, 2015.
In just a few years time, approximately 450 megawatts of renewable energy must be installed to meet these goals. Programs such as Xcel Energy’s Solar*Rewards will help Minnesota achieve our state’s goal of 25% clean, renewable energy by 2025.
For each of the 5 years of the program (2014 through 2018), $5 million will be allocated from the Minnesota Renewable Development Fund for the production incentive. The 2015 goal is to install an additional 4.6 megawatts of solar PV in Minnesota.
*Program forms must be completed with a $250 engineering fee. If, prior to the completion of an engineering review, the application is denied or the customer elects not participate in the program, the customer’s application fee will be refunded.