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.