Xcel Energy Renewable Development FundXcel Energy Renewable Development Fund Contact: Michelle Swanson
Archived – Grants and other incentives – RH
The Xcel Energy Renewable Development Fund (RDF) is financed by Xcel Energy ratepayers to promote the start up, expansion and attraction of renewable energy projects and companies in the Xcel Energy service area. It also stimulates research and development into renewable energy technologies. Both efforts are designed to increase the market penetration of renewable energy resources at reasonable costs.
Project funding to date has been in the form of grants and renewable production incentives (REPI) payments. Grants support commercial technologies and research and development. The REPI is paid to qualifying small wind, biogas and hydroelectric projects operating and generating electricity in Minnesota.
Third Funding Cycle is in Progress
Xcel Energy in May 2007 announced its third round of funding with up to $23 million available to support new ways to produce electricity from renewable sources. Funding is available for various-sized projects in two categories: energy production, and research and development.
Grant applications were to be submitted by July 12, 2007, with proposed selections expected in October 2007. The seven-member Renewable Fund Advisory Board will evaluate and select winning proposals. Funds awarded are subject to the approval of the Minnesota Public Utilities Commission.