Xcel Energy Inc. · NASDAQ:XEL
Xcel Energy — Corporate Update (March 2020)
31 slides from Xcel Energy's corporate update, Mar 11, 2020
Slide 1: Combined Renewable Workgroup Meeting
Combined Renewable Workgroup Meeting March 11, 2020
Slide 2: Meeting Agenda
Meeting Agenda • 1:30 - 1:40 Introductions & Agenda Overview (Cowan) • 1:40 - 1:50 RE Plan continuation after March 31, 2020 (Klemm) • 1:50 - 2:00 Program Dashboards (Gaspar) • 2:10 - 2:20 Community Solar Updates (Queenan) • 2:20 - 3:45 2020 SRC RFP (Queenan) • Survey Results • Targeted Capacity • R
Slide 3: RE Plan Continuation
(2) Xcel Energy’ RE Plan Continuation
Slide 4: April 1 Until Approval
April 1 Until Approval Program Continuation Plan Still Available Solar*Rewards Continue to allocate from 6 MW of Small: 4.5 MW Small & Medium Q1 capacity released Medium: 5.9 MW Solar*Rewards Large On hold until decision CEO Continue to accept applications for 112 Projects Low Income Rooftop 2017-20
Slide 5: Program Dashboards
(2) Xcel Energy’ Program Dashboards
Slide 6: Solar*Rewards 2019 Year in Review
Solar*Rewards 2019 Year in Review • In 2019, 7,000 + customers installed over 70 MW of new customer-sited solar with an almost even split between Solar*Rewards (33MW) and NEM (37MW) only interconnections. • Since 2006, cumulative installations have reached 464 MW and nearly 55,000 systems. 6
Slide 7: Solar*Rewards – Quarterly Dashboard
Solar*Rewards – Quarterly Dashboard 7 *Source data was extracted on January 8, 2020. There may be variances in future dashboards from similar periods, particularly the "Stage Status" graphs that are a snapshot in time.
Slide 8: Solar*Rewards & Net Metering Only – Small
Solar*Rewards & Net Metering Only – Small Q4 2020 was the 2nd largest quarter for Solar*Rewards and Net Metering Only applications to date 8 *Source data was extracted on January 8, 2020. There may be variances in future dashboards from similar periods, particularly the "Stage Status" graphs that ar
Slide 9: Solar*Rewards & Net Metering Only – Small Applications
Solar*Rewards & Net Metering Only – Small Applications By Vintage 9 *Source data was extracted on January 8, 2020. There may be variances in future dashboards from similar periods, particularly the "Stage Status" graphs that are a snapshot in time.
Slide 10: Solar*Rewards – Medium Applications by Vintage
Solar*Rewards – Medium Applications by Vintage 10 *Source data was extracted on January 8, 2020. There may be variances in future dashboards from similar periods, particularly the "Stage Status" graphs that are a snapshot in time.
Slide 11: Solar*Rewards – Medium Applications by Vintage
Solar*Rewards – Medium Applications by Vintage 2019 rollover capacity accumulated quarter-to-quarter including net of rollover and new capacity 11 *Source data was extracted on January 8, 2020. There may be variances in future dashboards from similar periods, particularly the "Stage Status" graphs t
Slide 12: On-site Storage - Operational Status
On-site Storage - Operational Status 33 pre-approved battery “packages”, which then require line diagrams specific to the application 12
Slide 13: Solar*Rewards Large RFP Capacity
Solar*Rewards Large RFP Capacity Discussion: what portion of the annual program capacity should be reserved for smaller projects? Solar*Rewards Targeted Project Targeted Capacity Large Capacity Size 20 MW ≤ 1.5 MW 20% of RFP The Company retains right to not fulfill the full capacity if ample bids ar
Slide 14: Solar*Rewards Large RFP Summary
Solar*Rewards Large RFP Summary The Company will increase transparency of bids by releasing an anonymized RFP bid response summary through an informational filing with the Commission within 30 days of the bid deadline: - average bid price - number and capacity of bids received - number of bidders 14
Slide 15: Community Solar
(2) Xcel Energy’ Community Solar
Slide 16: Solar*Rewards Community – Subscribers
Solar*Rewards Community – Subscribers Subscriptions by Vintage Year (Qty) Allocated Capacity by Vintage Year (MW) 100% 100% 90% 90% 80% 80% 70% 70% SG, SGL, SPVTOU SG, SGL, SPVTOU 60% 60% R, RD, RD TOU, RDTDR R, RD, RD TOU, RDTDR 50% 50% PG 40% 40% PG C 30% 30% C 20% 20% 10% 10% 0% 0% 2012 2013 2015
Slide 17: Development Status of Interconnection Requests
Development Status of Interconnection Requests Capacity by Vintage (kW) Pre-2016 2016 2017 2018 2019 Company Owned LI Gardens Grand Total Interconnection Agreement Signed 0 13 8 5.8 0 6 32.8 In design for an IA 0 0 4 2 4 - 10 In study/ review 0 0 2 4 33 - 39 No Capacity Notice – Move Eligible 0 0 0
Slide 18: Queue Info Proposed by COSSA
Queue Info Proposed by COSSA Proposed Fields to be displayed, updated more frequently • SRC Producer / Garden Operator • Study Start Date • Substation • Study Due Date • Name Plate Capacity (kW DC) • Facilities Study Start Date • AC Active Power Nameplate Rating • IA Delivered Date (kW) • IA Execute
Slide 19: 2020 RFP
(2) Xcel Energy’ 2020 RFP
Slide 20: RFP Subscriber Targets
RFP Subscriber Targets Solar*Rewards Community Annual Design 40 MW RFP Capacity targets & scoring discussed with stakeholders Changes reviewed with PUC staff prior to RFP release Summary of bids received filed within 30 days 10 MW Standard Offer Up to 500 kW Weighted average winning bid, plus adders
Slide 21: RFP Survey Results: Inconclusive
RFP Survey Results: Inconclusive When should the 2020 Solar*Rewards Community RFP be released? Wide variety of respondents: ASAP Afrer RE Plan (3) • Current SRC participants After CSG Rules (1) • Past SRC participants • New potential bidders After CSG Rules and Interconnection Rules (6) 21
Slide 22: Possible RFP Timing
Possible RFP Timing • RE plan could be out early June, RFP in mid June • 60 day RFP, 30 open and 30 review (award mid-August) • Possible Split RFP, 30MW ASAP after RE Plan; 10MW after NOPRs close • ASAP RFP Strictly targeted areas 22
Slide 23: Potential Targeted Capacity RFP Concept
Potential Targeted Capacity RFP Concept • We have Targeted Substations • Breakdown of available MW on each feeder • Map of capacity points in various locations across the feeder • Updated Queue will help know if any targeted capacity is reserved since release of info 23
Slide 24: Default Scoring from Proposed RE Plan
Default Scoring from Proposed RE Plan DEFAULT EVALUATION CRITERIA FOR GENERAL RFP SCORING Criteria Scoring Breakdown Lowest score get 50, proportionally scored downward based on differential from lowest Economic 50 price Development plan + past performance, Developer Experience 20 ranking worst (0)
Slide 25: Economic Scoring
Economic Scoring • Lowest score get 50, proportionally scored downward based on differential from lowest price • Formula = (Highest bid-specific bid)*(50/range) so for Bid # 8 we get (25-(-5))*(50/30) Bid # Subscriber Organization Garden Name County kW RFP Bid Price Yr1 price rank Economic Score (50
Slide 26: Subscriber Mix
Subscriber Mix 100% = 10, 90% = 9, 75% = 7.5, etc. Subscriber Garden Count Residential Low Income Subscriber Commitment Bid # Organization Name y kW Commitment Commitments Score (10) 1 Developer A Garden 1 Weld 2000 50% 10% 6 2 Developer B Garden 2 Weld 2000 50% 0% 5 3 Developer C Garden 3 Weld 2000
Slide 27: Preparedness
Preparedness Financial Securement (5), Site Securement (2.5), Permitting plan (2.5) Bid # Subscriber Organization Garden Name County kW Financial Securement Site Securement Permitting Prepardness Score (10) 1 Developer A Garden 1 Weld 2000 Not Completed Not Completed Outlined 2.5 2 Developer B Garde
Slide 28: Additional Commitments
Additional Commitments Based on robustness, additional subscriber commitments, subscriber proximity and innovation Subscriber Garden Community Additional Commitments Bid # Organization Name County kW Additional Commitments commitments Score (10) Educational tours; scholarship for 1 Developer A Garde
Slide 29: Developer Experience
Developer Experience Subscriber SRC Performance (Months from Developer Experience & Development Plan Developer Exp Score (20) Bid # Organization Garden Name County kW award to meters 2MW project) Slowest SRC CO developer, never completed 2MW 1 Developer A Garden 1 Weld 2000 under 30 months 32.55 5 P
Slide 30: Discussion
Discussion • Scoring Criteria & Approach 30
Slide 31: Wrap Up
(2) Xcel Energy’ Wrap Up