Xcel to drop solar incentives

MPLS star & sickle ^ | 6-4-12 | DAVID SHAFFER

[TurboZamboni]

Xcel Energy Inc. will seek to phase out subsidies for solar power and spend more to help customers conserve energy in Minnesota. The Minneapolis-based utility said Friday that it will reduce spending on its popular Minnesota Solar Rewards program to $2.5 million in 2013 -- half its current level -- before its elimination. The program has helped 560 Minnesota homes and businesses install solar arrays since 2010. Xcel Energy Inc. will seek to phase out subsidies for solar power and spend more to help customers conserve energy in Minnesota. The Minneapolis-based utility said Friday that it will reduce spending on its popular Minnesota Solar Rewards program to $2.5 million in 2013 -- half its current level -- before its elimination. The program has helped 560 Minnesota homes and businesses install solar arrays since 2010.

[bigbob]

Let’s see...

Solar power
Minnesota
Al Franken

any questions?

[Izzy Dunne]

$2.5 million in 2013 -- half its current level -- before its elimination. The program has helped 560 Minnesota homes and businesses install solar arrays since 2010.

If $2.5M is half, then full = $5M.

$5M in 2010, $5M in 2011, lets say $2.5M so far in 2012.

That's $12.5M for 560 homes.

That's 22,321 per home.

What's the payback time on that, anybody? If their electric bill was $100 per month, and if solar slashed that to zero, then the payback is 223 months, or over 18 years.

[Lockbox]

Xcel Energy, with headquarters in Minneapolis, Minnesota, is a major U.S. electric and natural gas utility. The company provides energy to more than 3.3 million electric customers and 1.8 million natural gas customers in eight states: Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, and Wisconsin.

Wow 560 out of millions..............

[TurboZamboni]

you'll definitely never be hired to work for the Star Tribune.