Does Xcel have Solar Rebates for Colorado in 2024?
Not exactly… Xcel does not have any traditional Solar Rebates. However, Xcel Energy does have an incentive program called Solar*Rewards, along with Net Metering Benefits! Solar*Rewards provides an upfront dollar amount incentive for homeowners based on watts installed if you meet the income or location qualifications (listed below). Additionally, Net Metering Benefits stores excess energy produced by your system on the grid; in return, offsetting the costs of electricity provided by Xcel.
For those that qualify, Solar*Rewards is an excellent way to save money on your solar energy system in addition to the Federal 30% Solar ITC!
What is included in the Xcel Solar*Rewards program, and How Do I Qualify?
The Xcel Solar*Rewards program provides an upfront incentive of $1 per watt of installed solar to homeowners with systems up to 7kW. To be eligible for the Xcel Solar*Rewards incentive, you must meet the Income Qualifications or be located in a Disproportionately Impacted Community. Additionally, your home solar energy system must fulfill these size requirements.
Income Qualification Verification Form: English / Spanish
Xcel’s 2024 Solar*Rewards System Size Requirements
- Must be a Colorado Xcel Energy Electric Residential customer
- Must sign an Interconnection Agreement and 20 Years REC Contract
- Your Solar Energy System wattage must be measured in AC
- Your System Capacity Target is 0.5 MW/Year
- Your System Size is up to 7kW
- No Deposit
Within 60 days of receiving Permission To Operate (PTO), the customer will receive a check via mail for their initial IQ/DIC installation incentive.
What are Net Metering Benefits?
To install a new home solar system using Xcel Energy, you need to connect your system to your home’s electrical net meter. This bi-directional meter keeps track of the energy that comes and goes from your home to the electrical grid. This service is called Net Metering. Net Metering Benefits occur when your home produces more energy than your home consumes. This access energy is held in the homeowner’s virtual “solar bank” as Net Metering Credits and is used against future energy bills. Customer’s that do not qualify for the Solar*Rewards program can also choose to retain any future Renewable Energy Credits (RECs) their system produces.
Most homes qualify for Net Metering Benefits, but here are the Qualification Requirements for your reference.
Can Sandbox Solar Handle our Xcel Home Solar Installation?
Of course! Sandbox Solar has installed countless Xcel Home Solar Energy Systems up and down the Colorado Front Range. With decades of solar experience under our belt, we have the skills and experience to provide a smooth and exciting solar journey for all of our customers. All operations are handled “in-house” so you know the job will get done right!
For more information on home solar installations, visit our Residential Solar Page, or get a Free Solar Quote to begin your energy self-sufficiency journey today!
