02/17/2011 10:10 am ET Updated May 25, 2011

Xcel Cuts Solar Incentive

Xcel Energy said Wednesday that it is cutting the financial incentives it offers to customers for solar-energy installations.

In addition, the utility is asking state regulators to approve further cutbacks in the subsidy program.

Xcel said the reductions are justified because the cost of solar panels has been declining and customers no longer need higher incentives to offset installation costs.

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