When this amount is reached, Xcel Energy sends customers a check for the total amount. In Minnesota, customer bill credits are rolled over monthly until the customer reaches a bill credit amount of $25 or more. These credits are valued at the Average Hourly Incremental Cost of Energy from the previous 12 months, which is calculated based on the cost the utility incurred by generating and producing electricity. Customers also have the option to “Waive Your Decision,” at which point they receive a year-end payout for any excess generation credits. These credits never expire but cannot be cashed out or given as credit if the service is stopped. Continuous Rollover Credits offset bills in months when customer consumption exceeds solar panel system generation. There are two ways to use the Solar Bank. Michigan, North Dakota, South Dakota, Texas, and Wisconsin The net producer receives bill credits for each excess kWh produced and these credits are stored in a “Solar Bank” for future use. When a customer generates more electricity than they used in a month, Xcel Energy considers that customer a “net producer” and does not bill the customer for any kilowatt hours (kWh) during that billing cycle. However, they all function with the same basic principle. Xcel Energy has slightly different policies for excess net metering bill credits in each state that it operates. What will happen to my Xcel Energy net metering bill credits? Other electric utilities in the state include Alliant Energy which offers a similar net metering program but does not have a community solar program.
For those who can’t install solar, its Solar*Rewards*Community program allows customers to invest in community solar garden projects within the Xcel Energy system which generates local solar energy for participating customers. Xcel Energy is a strong solar option for eligible customers in Wisconsin. For utility customers that live in Xcel’s service territory, Xcel’s net metering program is the best option. Texas does not require utilities to offer net metering, which means that customers of many other utilities don’t have net metering available to them. Xcel Energy has a presence in northern Texas and offers net metering to customers in that area. For those customers with access, Xcel is a good choice but is not available to the majority of South Dakota residents. Xcel Energy's presence in South Dakota is small (serving less than 85,000 customers), but includes cities such as Sioux Falls. Xcel Energy's presence in North Dakota is small serving less than 89,000 customers meaning that for those customers with access, Xcel is a good choice but is not accessible to the majority of North Dakota residents. Xcel Energy's program is comparable to other utilities and for customers in New Mexico – choosing a company comes down to location. Other electric utilities in New Mexico also offer solar incentive programs such as the state's largest provider, PNM, and El Paso Electric serving southern New Mexico.
Xcel Energy offers an incentive program in New Mexico called the Solar*Rewards program, which offers per-kWh cash incentives for customers to install rooftop solar. However, this utility only serves northeastern Minnesota and does not have coverage area in the Twin Cities metro area making Xcel the more accessible choice for many Minnesotans. Minnesota Power is another electric utility in the state with a commitment to using renewable resources – the utility is committed to providing 44 percent of the company's energy supply by 2025. In addition to net metering, the utility offers per-kWh cash incentives through its Solar*Rewards program. Xcel Energy offers strong solar incentives to its customers in Minnesota. For those customers who live in Xcel Energy’s Michigan territory, its net metering program is a good choice however, it is not accessible to the majority of Michigan residents. Xcel Energy's presence in Michigan is small. Xcel Energy offers one of the best net metering options in Colorado – the utility is committed to promoting renewable energy, and its net metering program as a whole appears to generate more applications and usage. In addition, there are 29 municipal utilities and 22 rural electric cooperatives which aren’t required to offer net metering. Xcel Energy and Black Hills Energy are the two investor-owned utilities available in Colorado both offer net metering. Is Xcel Energy's net metering the best in Colorado, Michigan, Minnesota, New Mexico, North Dakota, South Dakota, Texas, or Wisconsin? Colorado