March 15, 2010

Energy Innovation Corridor Partners promote Xcel Energy’s Solar*Rewards

Encouraging customer-generated solar power along EIC

       MINNEAPOLIS/ST. PAUL – Twin Cities leaders are encouraging residents to take advantage of Xcel Energy’s new Solar*Rewards program, especially along the Energy Innovation Corridor (EIC).

          Xcel Energy’s newly announced Solar*Rewards will make a one-time payment of $2.25 per installed watt of generating capacity to electricity customers who install photovoltaic systems on their homes and businesses. The incentive would cover about 30 percent of the installation costs. For program details or to apply, visit www.xcelenergy.com/solar

          EIC partners see the Solar*Rewards program as a good opportunity to encourage the development of renewable energy through the corridor. The EIC is designed to create a sustainable energy and transportation showcase along the 11-mile central corridor light rail transit project route, from the Union Depot in downtown Saint Paul to Target Field in downtown Minneapolis. Every member of the community along the corridor will be able to experience the future of renewable energy, advanced energy efficiency programs, electric transportation and smart energy technologies.

          “The Solar*Rewards program is an important part of the EIC, as it gives residents and businesses an incentive to participate in the growth of clean, renewable energy,” said Saint Paul Mayor Chris Coleman, “Adding photovoltaic systems to homes and businesses will help build a transportation and energy infrastructure that will improve the lives of our residents while protecting our environment.”

“By making solar energy more affordable through programs such as Solar*Rewards, Xcel Energy helps residents join our shared vision for a cleaner energy future,” said Minneapolis Mayor R.T. Rybak. “Participation along the EIC will inspire all of us to invest in alternative and renewable energy as a tool to address global climate change and create green jobs.”

Through Solar*Rewards, Xcel Energy plans to support the installation of about 2 megawatts of solar energy each year for the next three years, or approximately 450 installed systems annually in Minnesota.

“We want to thank the Energy Innovation Corridor partners for supporting us through the regulatory process to bring Solar*Rewards to Minnesota,” said Laura McCarten, Xcel Energy regional vice president. “Customer-generated solar energy is a priority in reaching our renewable energy goals in Minnesota and along the EIC. Solar*Rewards will let us partner with our customers as we work toward a cleaner energy future.”

Solar*Rewards participants may be eligible for additional federal and state rebates. In 2008, the cities of Minneapolis and Saint Paul received a federal Department of Energy Solar America Cities grant. The program aims to make electricity from solar photovoltaics cost-competitive with conventional electricity nationwide by 2015. For more information about the State Solar Rebate click: Minnesota Solar Rebate

To learn more about the Energy Innovation Corridor visit: www.energyinnovationcorridor.com