Xcel Energy - Solar*Rewards Program (New Mexico)

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Last modified on December 17, 2014.

Financial Incentive Program

Place New Mexico

Name Xcel Energy - Solar*Rewards Program
Incentive Type Performance-Based Incentive
Applicable Sector Commercial, Industrial, Residential
Eligible Technologies Photovoltaics
Active Incentive Yes
Implementing Sector Utility
Energy Category Renewable Energy Incentive Programs
Amount REC Prices as of 09/04/2014

Systems between 0.5 kW and 10.0 kW DC: 0.08 per kWh
Systems between 10.1 kW and 100.0 kW DC: 0.05 per kWh
Systems between 100.1 kW and 2 MW DC: determined through RFP process Prices will step down over time as participation targets are met

Equipment Requirements Must use California Energy Commission-certified PV modules and inverters

Terms Systems between 0.5 kW and 10.0 kW DC: 12-year contract

Systems between 10.1 kW and 100.0 kW DC: 10-year contract
Systems between 100.1 kW and 2 MW DC: competitive

Program Administrator Xcel Energy
Website https://www.xcelenergy.com/Save_Money_&_Energy/Rebates/Solar*Rewards_-_NM

References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


Through the Solar*Rewards program, Xcel Energy is purchasing renewable energy credits (RECs) from customers in New Mexico who install photovoltaic (PV) systems. The RECs that Xcel purchases will help the utility comply with New Mexico's renewable portfolio standard (RPS) in exchange for a financial incentive to homeowners and businesses who install PV systems.

Participating systems will be net-metered, and a separate production meter will be installed to measure the system's output. The electricity output of participating systems will be measured each month and will be paid in the form of a bill credit. If the total amount of the credit reaches $50, a check will be issued to the customer. To be eligible for the program, PV equipment must appear on the California Energy Commission's lists of eligible modules and inverters. All systems must also carry a five-year warranty from both the manufacturer and the installer, including parts and labor.

The following incentives are available to customers, depending on PV system size.

Small Program – Standard Offer

Xcel has a standard offer for new PV systems (both customer owned and third party developer) between 0.5 kilowatts (kW)-AC and 100 kW-AC. The utility will pay $0.08 per kilowatt-hour (kWh) for RECs from systems between 0.5 kW and 10.0 kW.

Medium Program – Standard Offer

Projects between 10.1 kW-AC and 100 kW-AC can receive a payment of $0.05 per kWh for 10 years.

Large Program – Request for Proposals

Larger systems between 100.1 kW and two megawatts can participate through a request for proposals (RFP) and will receive a per-kWh payment for their RECs at a rate to be determined through the RFP process.

Incentive Contact

Contact Name Solar*Rewards Program Manager
Department Xcel Energy
Address 1225 17th St., Suite 1200
Place Denver, Colorado
Zip/Postal Code 80202

Email nmsolarprogram@xcelenergy.com
Website http://www.xcelenergy.com

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency" Cite error: Invalid <ref> tag; name "DSIRE" defined multiple times with different content