In addition to the Federal and State programs, Xcel Energy customers are compensated through the Solar Rewards Program which pays based on ac production.  This program is approved by the NM Public Regulatory Commission (PRC) to fulfill their Renewable Energy Portfolio requirement (RPS).  Senate Bill 418 states that for Investor-Owned Utilities, renewable sources shall provide 5% of their electricity by 2006, 10% by 2011, 15% by 2015 and 20% by 2020.

New Mexico customers of Xcel Energy, are compensated on the AC electricity production of a new solar PV system at the following rates:
 System Size (dc)  Payment per kWh (ac) Contract Period
 .5 – 10 kW  $.20   14 years
10.1 - 100 kW  $.20   10 years
100.1 – 2 MW  competitive  competitive

In addition to the Solar Rewards program, Xcel customers are eligible for the following:
Net Metering
30% Federal Income Tax Credit (homeowners and business owners)
 No Maximum
10% State Income Tax Credit (homeowners and business owners)
 $9000 Maximum
Depreciation Benefit (businesses only)
85% of the system cost can be depreciated
No NM GRT: all solar systems qualify