Tax Credits & Rebates
Xcel Energy’s Solar Rewards rebate program plus a Federal tax credit make photovoltaic systems very affordable. We can carry the rebate, allowing your out-of-pocket cost to be a lot lower than the total system price.
Rebates for Small Systems up to 10 Kilowatt, Medium Systems up to 100 Kilowatt
Two categories of rebates are available. The small systems, for residential and commercial, involve up to 10 KW and have the largest rebate, $4.50 per watt. If your commercial building has more than one meter we can put a small system on each meter. Medium systems have a rebate of $2.00 per watt, plus Xcel Energy pays a premium of 11.5¢ per kilowatt hour produced, making the medium systems the most profitable over time. These are rates for 2008. Rebate rates may change for future years.
Xcel Energy Pays You The Same Price as They Charge You
With a Photovoltaic system you are selling the electricity you produce to Xcel Energy directly through the same meter you use to buy from the grid. They will install a new meter that runs backwards, recording the KWh you are generating to offset your usage, purchasing what you produce for the same price they charge you. Produce the same as you use and you zero out your bill. Most commercial buildings don’t have enough rooftop or ground space to completely zero out their bills.
We will work with you to maximize what can be done, keeping in mind three key considerations: your goal, budget and available space.
Ask us for more information regarding the rebate and tax credit programs. Then be sure to consult with your own tax professional.