Xcel recently announced it would increase the Renewable Energy Standard Adjustement (RESA) component of the electric bill to fund the renewable energy program. Xcel also filed a rate case increase for GRSA – the general rate schedule adjustment component of your electric bill. GRSA is the component of Xcel’s revenue that applies to Service and Facility – money used for capital and O&M costs. The increase is substantial – from 12.7% to 32.5%. They call this a 19.8% increase! Would someone enlighten me on that calculation?
For the average customer with monthly usage of 625 kWh, they project the increase will be $5.13 per month or 8.39%.
On the bright side, this increase adds value to those of us with solar electric systems, and provides more incentive for residential and commercial customers to install solar electric systems.
Xcel increases electric rates by $174M
December 9th, 2008Clean Energy Loans in Boulder County
December 3rd, 2008Boulder County voters approved issue IA by a healthy margin, and now county officials are beginning to plan the program roll-out. A public open house was held on Tuesday (Dec 2) to solicit public input on how to implement the loan program. The new loan program is called “ClimateSmart”, and is headed by Ann Livingston. I am looking forward to details on the program.
Contact information: climatesmart@bouldercounty.org or 303 441 4565
Xcel increases RESA (renewable energy standard adjustment)
December 3rd, 2008 A few weeks ago Xcel decreased the renewable energy rebate from $4.50 per watt to $3.50 per watt. That adjustment was based on the increase of the ITC (federal investment tax credit).
Yesterday, Xcel announced it will increase RESA – the electric bill component used to fund their renewable energy program. They did not provide a specific reason for this increase. Xcel did estimate the increase will amount to about 33 cents on the average residential bill.
Presently RESA is six tenths of one percent (0.6 %) of the total electric bill before taxes. A $100 electric utility bill includes about 60 cents for RESA.
I would like to hear more about Xcel’s plan for the increased revenue!
Conoco Phillips hedges on renewable energy plans
November 14th, 2008I have to admit I was a skeptic when Conoco Phillips purchased the old Storage Tech campus and touted renewable energy research as a main component of business at the site. However, now they are using the economy as an excuse to scuttle those plans for renewables. I have to admit it was a good strategy. When people mentioned the Conoco Phillips move to Louisville, they always included the renewable energy boon to the area. It made the move a good sell. Big oil sometimes dredges up thoughts of neighborhood gas refineries similar to the Commerce City site. I hope that Conoco Phillips proves me wrong and gets back to the renewable energy plan.
Boulder County passes Clean Energy Issue 1A
November 10th, 2008 County Issue 1A was adopted in Boulder County at the polls. This measure is a great opportunity for homeowners who would like to install renewable energy, but do not have the capital reserves. Homeowners will be able to obtain low interest, no-money-down financing for renewable energy, energy efficiency improvements, including solar photovoltaic systems.
The Boulder County Energy Options Local Improvement District (LID) will authorize Boulder County to increase debt by $40 million to be used for energy-efficiency projects. The loans will be repaid by the homeowner through a voluntary special assessment on the property. The plan allows for little up-front costs to the homeowner, and if the property is sold prior to the end of the 20-year repayment period, the new owner takes over repayment as part of the property tax bill.
Many details of the program must be ironed out, and other counties will be monitoring the program closely before adopting similar measures. Let’s hope Boulder County becomes the model to follow.
Xcel rebate and REC – terms and conditions
October 30th, 2008 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.
The other shoe drops!
October 27th, 2008Xcel Energy responded to the Federal ITC renewable energy credit change with a change to their rebate and Renewable Energy Credit (REC). Effective October 24 Xcel reduced the REC from $2.50 to $1.50 per watt. The total rebate and REC is now $3.50.
If your application was completed before October 24, you will still receive the $4.50 rebate.
Hello world!
October 23rd, 2008Sunnyside Solar is now in the BLOG world.
We will begin posting new developments in the solar electric industry and provide information about federal tax credits, utility rebate and renewable energy credits!
The latest development is the ITC – the federal investment tax credit for renewable energy additions and energy conservation upgrades. Beginning in 2009, home and small business owners may claim the credit on federal tax returns. The newly passed bill attached to the rescue bill allows for a 30 percent credit without the $2000 cap.
Utility rebates and RECs (renewable energy credits) are currently between $2.00 and $4.50 per watt. The word on the street is utilities may reduce these credits when the federal ITC takes effect.
Now is a great time to invest in renewables and energy saving improvements.
