Xcel Energy will seriously pay you .07c per kilowatt hour of electricity that you produce with your own solar panels for ten years if you are an Xcel Energy Customer. This is an incentivized program, so if you produce more electricity than you need the extra electricity is added to the grid and monthly payments are made to you, the owner of the solar power system. And so, when you read that Xcel Energy pays you to go solar this is one of the main reasons why this is true!
An average amount of kilowatt hours consumed by a Minnesota home is 800-900 kilowatt hours (link) per month or 10,200 kilowatt hours per year (consider electricity use has risen approximately 22% in 2020 with increased stay at home patterns). And so for the average home, with Xcel Solar Rewards this example would equal a $714 payment for just the first year of energy your system produced. Remember, this amazing incentive gets paid out for the next 10 years! For this example, the total amount you will be paid by Xcel will be around $7,000!
If you have a different utility provider as many do, such as Dakota Electric, The City of Chaska, Shakopee, etc.. you will receive other excellent incentives that reduce your cost of solar installation. Your Optimum Solar Group Energy Advisor will show you your specific incentives and rebates that you are eligible for, within a complimentary solar system analysis.
And it just keeps getting better…..if your roof has the size for it, you can have a few more solar panels installed to produce up to 20% MORE than your actual electricity use (this is called Net Metering and your Utility will purchase this from you at the retail rate of electricity ranging from approximately .09c – .13c per kilowatt hour in most cases depending on your Utility rates.
And so, in effect you are farming renewable energy from your rooftop for others to use. This 120% Net Metering rule applies to all electric utilities in the state of Minnesota. You will be paid for the extra electricity you have produced and then sold to your utility. This extra production can add up to welcome sums over the years!
One final money saving fun fact is that most Utilities provide rebates for you to purchase energy efficient star rated appliances as you analyze your current electricity use. You may have an older refrigerator, or furnace that you wish to upgrade and these utility provided appliance rebates can save a lot of money.
And so the claim is seriously true.
Xcel Energy pays you to go Solar and Optimum Solar Group Energy Advisors are at ready to show you how this works for your home! Reach out to www.OptimumSolarGroup.com Energy Advisors or call 1-888-782-6910 and learn more about producing your family’s own electricity.
Save money, save the earth, simply smarter.
Xcel Solar Rewards:
Xcel Net Metering: https://www.xcelenergy.com/…/on_your_home…/net_metering
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