Solar rebate program extended for a year
The Colorado Public Utilities Commission approved a settlement agreement Friday that will allow a popular solar-panel-rebate program to continue for another year.
The agreement was worked out between Xcel Energy and solar-panel installers.
It allows the rebate program to accept another 60 megawatts of solar power, paying out up to $97.3 million in rebates.
The agreement calls for paying the rebates over a 10-year period rather than up front.
It also calls for the program to gradually phase itself out, which is expected to take about a year.
Money comes from a 2 percent surcharge that power suppliers are allowed to charge under Amendment 37, the 2004 ballot question that required them to get a percentage of their electricity from renewable sources.