Xcel Energy announces successful launch, quick close of the Solar*Reward Community standard offer

Community Solar Garden Structure

Xcel Energy was seeking approximately 4.5 megawatts of generation, from systems less than or equal to 500 kilowatts; it received approximately three times that amount in applications in about 30 minutes after the program opened at 8 a.m. MDT today. Acceptance of applications ended after an hour.

The Solar*Rewards Community standard offer was designed for Colorado customers who could not, for various reasons, take advantage of other solar programs, because they were renting, lived in multi-family dwellings or did not have homes or businesses suitable for solar installations. Customers are now able to purchase renewable energy through solar project developers from a community-based photovoltaic system.
“The success of this initial offering and the fact that it subscribed so quickly clearly shows that this is a beneficial and desirable program for our Colorado customers,” said David Eves, president & CEO of Public Service Company of Colorado, an Xcel Energy company. “Solar*Rewards Community makes solar energy available to a new, broad group of customers and we are pleased with the interest shown today.”

Details about the Xcel program