Xcel Energy - Solar*Rewards Program (New Mexico)
Last modified on December 17, 2014.
Financial Incentive Program
|Name||Xcel Energy - Solar*Rewards Program|
|Incentive Type||Performance-Based Incentive|
|Applicable Sector||Commercial, Industrial, Residential|
|Energy Category||Renewable Energy Incentive Programs|
|Amount|| REC Prices as of 09/04/2014|
Systems between 0.5 kW and 10.0 kW DC: 0.08 per kWh
|Equipment Requirements||Must use California Energy Commission-certified PV modules and inverters|
|Terms|| Systems between 0.5 kW and 10.0 kW DC: 12-year contract|
Systems between 10.1 kW and 100.0 kW DC: 10-year contract
|Program Administrator||Xcel Energy|
|References||DSIREDatabase of State Incentives for Renewables and Efficiency|
Through the Solar*Rewards program, Xcel Energy is purchasing renewable energy credits (RECs) from customers in New Mexico who install photovoltaic (PV) systems. The RECs that Xcel purchases will help the utility comply with New Mexico's renewable portfolio standard (RPS) in exchange for a financial incentive to homeowners and businesses who install PV systems.
Participating systems will be net-metered, and a separate production meter will be installed to measure the system's output. The electricity output of participating systems will be measured each month and will be paid in the form of a bill credit. If the total amount of the credit reaches $50, a check will be issued to the customer. To be eligible for the program, PV equipment must appear on the California Energy Commission's lists of eligible modules and inverters. All systems must also carry a five-year warranty from both the manufacturer and the installer, including parts and labor.
The following incentives are available to customers, depending on PV system size.
Small Program – Standard Offer
Xcel has a standard offer for new PV systems (both customer owned and third party developer) between 0.5 kilowatts (kW)-AC and 100 kW-AC. The utility will pay $0.08 per kilowatt-hour (kWh) for RECs from systems between 0.5 kW and 10.0 kW.
Medium Program – Standard Offer
Projects between 10.1 kW-AC and 100 kW-AC can receive a payment of $0.05 per kWh for 10 years.
Large Program – Request for Proposals
Larger systems between 100.1 kW and two megawatts can participate through a request for proposals (RFP) and will receive a per-kWh payment for their RECs at a rate to be determined through the RFP process.
|Contact Name||Solar*Rewards Program Manager|
|Address||1225 17th St., Suite 1200|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.