Members of Colorado’s solar industry say plans by Xcel Energy to cut incentives for solar arrays will devastate the industry.
Utility customers who install small solar arrays on their property receive two types of incentives – a rebate and renewable energy credit – for a combined $2.35 per watt. Xcel Energy said Wednesday the combined incentives will drop to $2.01 per watt.
The Daily Camera in Boulder reports that the company has filed paperwork with state regulators seeking to further slash the incentive to $1.25 per watt. Xcel Energy officials say the cost of solar panels is decreasing and the number of government subsidies for solar installations is increasing.
But Neal Lurie of the Colorado Solar Energy Industries Association contends the move would jeopardize renewable energy’s gains in the state.