Xcel Renewable Battery Connect Colorado Rebates
What Is Renewable Battery Connect?
Renewable Battery Connect is Xcel Energy’s innovative virtual power plant (VPP) initiative. By enrolling, homeowners allow Xcel to manage a portion of their battery storage during periods of high energy demand, helping to stabilize the grid. In return, participants receive substantial financial incentives.
Key Incentives
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Upfront Rebate: Earn $350 per kilowatt (kW) of battery storage capacity, up to $5,000 per household. For instance, installing a Tesla Powerwall 3 with an 11.5 kW inverter could yield a rebate of approximately $4,025.
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Annual Participation Credit: Receive a $100 bill credit each year for five years, totaling $500, for allowing Xcel to manage your battery during peak demand events.
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Enhanced Incentives for Income-Qualified Customers: If you reside in a Disproportionately Impacted Community or meet income qualifications, you may be eligible for increased rebates of $800 per kW, covering up to 75% of the equipment-only cost.
Program Participation Details
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Event Frequency: Xcel may discharge up to 60% of your battery's capacity during up to 60 events annually, each lasting up to 3 hours.
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Battery Availability: Outside of these events, you retain full control over your battery usage.
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Eligibility: Open to Xcel Energy residential electric customers in Colorado with new, qualifying battery systems, such as the Tesla Powerwall 3 or Enphase 5P.
Additional Financial Benefits
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Federal Tax Credit: Under the Inflation Reduction Act, claim a 30% federal tax credit on your battery system expenses.
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Colorado State Tax Credit: Benefit from a 10% state tax credit on battery hardware costs.
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Denver Climate Action Rebate: Denver residents may qualify for additional rebates up to $2,750, especially if integrating heat pump systems.
Why Enroll Now?
With the convergence of utility rebates, federal and state tax credits, and local incentives, the financial case for battery storage has never been stronger. Moreover, participating in Renewable Battery Connect not only reduces your energy costs but also supports grid stability and the transition to renewable energy.
How to Get Started
To take advantage of these incentives and enhance your home's energy resilience, click here to start your design/quote today and we will assess your eligibility and guide you through the enrollment process. Act promptly, as program funds are limited and available on a first-come, first-served basis.
For more information and to verify your eligibility, visit Xcel Energy’s official Renewable Battery Connect page: Xcel Energy
