DENVER—Colorado regulators have approved a new cap on solar installations eligible for subsidies that Xcel Energy Inc. offers for adding solar energy.
Since 2006, Xcel’s Solar Rewards program has provided $256 million in rebates and credits for about 10,500 solar arrays. Xcel uses a 2 percent renewable-energy charge on customers’ bills to fund the rebates, but the fund is now running a $32 million deficit.
Currently, Xcel is offering upfront subsidies of $1 per watt, plus 9 cents for each kilowatt generated.
The Denver Post reports () the Colorado Public Utilities Commission approved a new plan Thursday to provide total financial subsidies for up to 36 megawatts per year for 2012 and 2013, with no upfront incentives. It would provide subsidies on a sliding scale for kilowatts generated.
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Information from: The Denver Post,
