Rebates are based on Xcel Energy policies, other utility companies may vary.
Rebates:
Xcel Energy will pay for over half of the unit cost. They pay $3.50 per watt.
Example: With a 4-kilowatt (4,000 watts) Xcel pays for $14,000.00 of the system.
Tax Credits:
The homeowner receives 30% of the systems cost back at tax time from the Federal
government.
Are solar systems financially cost effective?
Yes! By the time you receive the Xcel rebate and the Federal tax credit, a 25 year
solar system could pay for itself in 5-6 years. Ideally, that means 20 years of No
Electric Bills if 100% of your energy needs are met each month. Keep in mind that
Xcel will charge administrative cost. These charges can vary from $7 to $9 per
month.
Increased property value.
For every dollar saved in energy costs each year your homes value increases $20.
Example, $1,000.00 saved in electric bills, increases your home value $20,000.00.