Following approval of the PV system and installation, the customer signs the “Solar*Rewards contract” with Xcel Energy. The terms and conditions of the contract allow Xcel Energy to purchase from the customer all Renewable Energy Credits (RECs) generated by the PV system for a term of 20 years.
The price for the RECs includes two components – the “standard rebate” based on installation, and a payment based on Xcel Energy’s receipt of all RECs generated by the PV system.
The total price for the RECs is $2.00 per watt for the installation, and $1.50 per watt for the RECs.
The customer is responsible to maintain the PV system for the term of the contract. If the customer breaches the contract during the 20 year term, the customer is liable for liquidated damages limited to the prorated amount of the rebate.
I find the information posted on your site very interesting – Thank you. We own a small manufacturing shop in Larimer county and have been contemplating the idea of incorporating green energy into our business both as a consumer and manufacturer (not of energy but possibly for things related to it). Do you have more available resources we could contact with regards to either of them?