Xcel Energy is trotting out new money-saving incentives for owners of energy-efficient, multi-tenant buildings.
The incentives were laid out in Xcel’s Triennial Conservation Improvement Program, which was filed with Minnesota utility regulators this week.
The “Multi-Family Building Efficiency” program is a joint offering from Xcel, the state’s largest electric utility, and CenterPoint Energy, Minnesota’s largest gas provider.
Interested building owners would get an energy audit of their properties -- paid for by Xcel and CenterPoint.
The utilities will also pay for the installation of energy saving LED lights; water heater blankets for insulation; energy efficient showerheads; and faucet aerators, which conserve water. Such water conservation efforts decrease demand for heating.
After building owners complete upgrades identified in their energy audits, they are eligible for financial incentives based on energy savings.
The upgrades will entail costs for owners. So, a percentage of upgrade costs will essentially be rebated by the utilities in a one-time payment, the amount depending on the percentage of energy savings.
Xcel is also launching a “recommissioning” program for commercial customers who want to make their buildings more energy efficient. Buildings enrolled in the program can expect to save 5 percent to 20 percent on energy costs, according to Xcel.