Xcel Energy reduces solar energy incentives

Last week, Xcel Energy announced further reductions in the incentives it offers customers to install solar power systems, and requested that the Colorado PUC approve even further reductions.

According to the Denver Post, 'The combined incentive and rebate drops from $2.35 per watt to $2.01, effective immediately, based on Xcel's change for residential- scale systems that range from 0.5 to 10 kilowatts. Larger systems will incur similar reductions.'

Reports from the Post and from the Colorado Solar Energy Industries Association  (COSEIA) claim that the additional reductions requested by Xcel would reduce the incentives to either $.025 or $1.25 per watt. Additional news reports indicate that this action by Xcel could result in the loss of 2,500 - 3,000 jobs in the solar industry.

COSEIA has announced a rally at the Colorado State Capitol (West Steps) scheduled for Friday February 25th at 12pm.