Author Topic: Anyone heard of this type of solar rebate?  (Read 285 times)

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Volvo farmer

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Anyone heard of this type of solar rebate?
« on: August 07, 2006, 08:03:52 PM »
I got a letter from the guy who helped me install my system today. Looks like Xcel Energy is offering $2.50/DCwatt on solar electric systems in Colorado, and they don't have to be grid-tied! I just read the contract and it looks like they're buying renewabal energy credits with this program?


The contract is in force for twenty years :-0 and this is the only part that bothers me a little. Well, that and the fact that this money is certainly coming out of the taxpayer's pocket in one form or another.


They don't own any part of my system with this contract. It's awfully tempting to their $1650 but a dang year-long cellphone contract bothers me. I'm tying up my RECs with them for TWENTY years if I sign this thing. It's unclear what happens if I sell the house, or die, or bring the grid in down the road.


Anyone got any opinions on signing away my RE credits at this time? I sure could use that money.

« Last Edit: August 07, 2006, 08:03:52 PM by (unknown) »
Less bark, more wag.

asheets

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Re: Anyone heard of this type of solar rebate?
« Reply #1 on: August 07, 2006, 04:52:35 PM »
As much trouble as I've had with filing (incorrectly, according to the IRS) my taxes lately, I'd be tempted to let xcel have my recs.  It might be a good deal -- I know of a guy selling those 1watt car battery maintainer panels for $3.99 plus shipping (and he'll give a good SH+H for bulk purchases).  


Is it $2.50/watt/year?  Or just a 1 time deal?

« Last Edit: August 07, 2006, 04:52:35 PM by asheets »

zap

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Re: Anyone heard of this type of solar rebate?
« Reply #2 on: August 07, 2006, 06:24:30 PM »
More info on the program can be found here

« Last Edit: August 07, 2006, 06:24:30 PM by zap »

Volvo farmer

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Re: Anyone heard of this type of solar rebate?
« Reply #3 on: August 07, 2006, 06:37:21 PM »
It's a one time credit. Apparently there's a Colorado law that says electric companies must supply a portion of there electricity by renewable means by 2007. So the game is, they pay me and then they get to count my generated electricity as part of their 4% (or whatever it is) as part of their production. Neat trick huh?


This in no way effects the federal rebate this year, I'm still writing off two grand on my federal taxes for 2006. :-)


I'm starting to think they're not really concerned about checking on their RECs ten or fifteen years down the road, they are mostly concerned with jumping through whatever hoops are necessary to comply with this current law, at the lowest expense possible. Since I have to maintain the system for 20 years, they're getting a very good deal at $2.50/watt on a one-time payment. Strictly enforcing the contract is not really in their best interest financially. It's a tempting offer, I just wonder if my RECs would be worth more to someone else down the road.


Here's the link,

http://www.xcelenergy.com/docs/retail/conmrkts/RECProgramDetails.pdf

« Last Edit: August 07, 2006, 06:37:21 PM by Volvo farmer »
Less bark, more wag.