DENVER (Denver Business Journal) – Xcel Energy Inc. on Thursday said it has temporarily stopped taking applications for its Solar*Rewards rebate program for solar power systems at homes and businesses in Colorado, dealing a potentially devastating blow to the metro area’s solar installation industry.

The shutdown follows Xcel’s announcement Wednesday that the utility would cut total rebate levels for small-scale customer-owned solar power systems immediately from $2.35 per watt to $2.01 per watt.

denver business journal Xcel Stops Taking Solar Rebate ApplicationsRead more on the website of CBS4 partner the Denver Business Journal.

Comments (3)
  1. Jim Burness says:

    It is important to mention that they have closed down the entire program in the interim.

  2. Brannon Bloom says:

    The money used to “jumpstart” the solar industry is not tax-payer money or Xcel money. Its funding paid by Xcel rate-payers as a 2% adjustment on their bill. This was approved by Colorado Amendment 37 in 2004 and makes this solar program self-funding. It doesn’t cost Xcel anything. This is a fund “by the people, for the people” (for the solar industry and its customers, not for Xcel to divert in other directions. The Colorado solar industry directly employs more than 5300 people and is bringing about $250 million to the annual state economy.

  3. Stickmanwithahaircut says:

    XCEL want to steal the money to replace local Colorado powerplants, and say it’s going green in California.They will build the next generation plants and consumers won’t be able to ever earn a profit from it very soon. XCEL doesn’t get rich buying electricity from consumers.

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