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TCAAP Energy Integration Resiliency Framework <br />Energy Source Implementation <br /> <br /> <br /> 33 <br />Rate Category Solar Subscription <br />($/kWh) <br />First Year Bill <br />Credit ($/kWh) <br />First Year Savings <br />(Cost) ($/kWh) <br />Xcel Energy Residential $0.1290 $0.1403 $0.0113 <br />Xcel Energy Small General Service $ 0.1290 $0.1378 $0.0088 <br />Xcel Energy General Service $0.1290 $0.1146 $(0.0144) <br />Table 9: Solar subscription and Xcel Energy bill credit comparison (REC’s retained by Xcel Energy) <br />For the solar PV project to be developed under the Xcel Energy Solar*Rewards® Community® solar <br />program, it will be important for the developer to have several large credit-worthy subscribers secured <br />to allow the project to be financed at a low cost of debt. This could include the City of Arden Hills, <br />Ramsey County, the MNARNG, and other credit-worthy businesses in the area. Once the project has <br />secured a large portion of the revenue stream from project subscribers, the project can be financed <br />and developed with the potential for future residents and businesses to join as subscribers in the <br />future. \ process for developing and preparing the necessary applications for the project will need to <br />follow the guidelines outlined in the Xcel Energy Solar*Rewards® Community® solar program5. <br />3.1.8. Next Steps <br />In order to capture the 30% Investment Tax Credit associated with community solar gardens, the <br />proposed system must be in service by December 31, 2016. As such, implementation of this strategy <br />must commence as soon as possible, and the following steps should be taken to continue <br />development: <br />Step 1 – Begin the land redevelopment process and secure funding approval. The County and the <br />MNARNG, as potential property owners, will play key roles in this process, as a potential <br />property owner. <br />Step 2 – Secure a development partner to move the project through necessary stages of <br />development. This could be either Xcel Energy or another solar developer, who could be <br />selected by issuing an RFP for prospective developers. <br />Step 3 – The solar garden developer will need to obtain letters of commitment from large solar <br />garden subscribers to initiate the necessary business and financing structure. The <br /> <br />5 (2015, 02 23). Retrieved 02 23, 2015, from Xcel Solar Rewards Community: <br />http://www.xcelenergy.com/Energy_Solutions/Business_Solutions/Renewable_Solutions/SolarRewards_Community-MN <br />