Xcel Energy offers one-time incentive for solar power

kare11.com Twin Cities, MN Xcel Energy offers one-time incentive for solar power: "MINNEAPOLIS - Xcel Energy announced today that it is now offering incentives to Minnesota electricity customers to install solar panels on top of their homes and businesses.
To encourage the growth of solar energy in the state, Xcel Energy's Solar*Rewards will make a one-time payment of $2.25 per installed watt of generating capacity to help off-set the cost to customers who install small or medium rooftop photovoltaic systems.
For an average size residential installation of 3.5 kilowatts or 3,500 watts, the incentive payment would be $7,875, or about 30 percent of the installation costs. Federal, state and local government agencies may provide customers with other rebate opportunities for installations.
'Minnesota is a great resource for solar energy,' said Laura McCarten, Xcel Energy regional vice president. 'Our Solar*Rewards program makes it more affordable for residents and business owners interested in this clean, sustainable energy option.'
Participants must agree to install a system with a capacity of 0.5 kilowatts to 40 kilowatts. In exchange for the incentive payment, ownership of the Renewable Energy Credits produced by the system will transfer to Xcel Energy for a term of 20 years. Xcel Energy will also buy any energy that a system produces the customer does not use."