PROPERTY OWNERSHIP

Eligibility for the Renewable Energy Credit (REC) portion of the Xcel incentives is contigent upon entering into a contract with Xcel. The person who is named on the Xcel bill is the one who must sign this contract. The contract says that this person agrees to sell the RECs from the home's PV system to Xcel for a period of 20 years. If the home is being rented and the Xcel bill is in the renter's name, it is the renter, not the homeowner, who must sign the contract. This means that the contract must be transferred each time a new renter takes up residence at the address. Although this can be done, it becomes more involved for the all parties, and may make it more difficult for the homeowner to rent the property.