DENVER, Colorado (May 23, 2018) – Xcel Energy customers now have a new flexible, easy and affordable way to “go solar.” Residential and small business customer enrollment for Renewable*Connect is now open.
Renewable*Connect energy will come from a 50 megawatt (MW) solar array being built in Deer Trail, Colo. Customers may cover up to 100 percent of their energy use by choosing to buy solar energy from the solar field month-to-month, or over a 5-year or 10-year contract term. While the length of the contract is flexible, the pricing schedule is set for the life of the contract.
Renewable*Connect takes advantage of today’s market-based pricing for solar energy and does not need subsidies from other customers. Subscribers get full credit for using solar energy with a chance to save money with a long-term contract. Customers who need more flexibility can go month to month with no long-term commitment.
“Our customers want more control over their energy use, and more choice in how their energy is produced,” said Allice Jackson, president Xcel Energy - Colorado. “With Renewable*Connect delivers an easy way to switch to solar energy in an affordable and sustainable manner. Renewable*Connect is the latest example of how we are innovating to offer customers ways to meet their personal energy goals.”
Renewable*Connect joins such programs as Windsource®, Solar*Rewards®, and Solar*Rewards Community® and can be combined with these programs, expanding customer options for meeting their sustainability goals and desire for clean energy. Customers are encouraged to visit Xcel Energy’s website for more information, including specific plan pricing for 2018, or may use their My Account login to enroll in the program.
“Through a growing range of innovative solutions, like Renewable*Connect, we continue to empower our customers with industry-leading options and energy alternatives. We listened to our customers and built Renewable*Connect to meet their needs,” said Jackson.
Customers who choose to power their home or business with solar energy get a credit for the cost of fossil fuels no longer needed due to the addition of the Renewable*Connect resource. They only pay the difference between the cost of their solar compared to fossil fuels. When fossil fuels are more expensive than their solar energy from Renewable*Connect, they save money. Even now, customers with a long-term contract will have no extra cost on day one.
While early enrollment gives residential and small commercial customers a first opportunity to take advantage of Renewable*Connect, it is open to all customers, including large business customers starting on July 30.
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About Xcel Energy
Xcel Energy (NASDAQ: XEL) provides the energy that powers millions of homes and businesses across eight Western and Midwestern states. Headquartered in Minneapolis, the company is an industry leader in responsibly reducing carbon emissions and producing and delivering clean energy solutions from a variety of renewable sources at competitive prices. For more information, visit xcelenergy.com or follow us on Twitter and Facebook.
