Xcel Energy Inc. · NASDAQ:XEL
Xcel Energy — Corporate Update (March 2019)
34 slides from Xcel Energy's corporate update, Mar 12, 2019
Slide 1: General Stakeholder Group Q1 2019 Meeting
General Stakeholder Group Q1 2019 Meeting March 12, 2019 (1PM – 3:30PM)
Slide 2: Agenda
General Stakeholder Group AGENDA 2
Slide 3: Renewable Programs Survey Report
Renewable Programs Survey Report Customer Insights Publication Date: February 28, 2019
Slide 4: Methodology: Online Survey
Customer Insights Methodology: Online Survey Colorado Residential Customers Action Date Program # completes Launch survey 01/16/2019 Windsource® 291 Close survey 01/30/2019 Solar*Rewards® 152 Number of email invitations 13,519 Solar*Rewards®Community 40 Number of completes 1,084 Renewable*Connect® 2
Slide 5: Objectives: What Did We Want to Learn?
Customer Insights Objectives: What Did We Want to Learn? What factors are most important to customers when deciding whether to Program Drivers participate in a renewable program? Awareness How did customers first learn about the renewable programs? Environmental Which environmental concerns are at t
Slide 6: The Majority of Respondents are Windsource Customers
Customer Insights The Majority of Respondents are Windsource Customers Program Chosen When Enrolled 27% 2017 or 2019 Windsource® earlier 2% 21% 2018 25% 77% Not sure Renewable*Connect® 19% Solar*Rewards® 14% Net Metering 11% Solar*Rewards 4% Community® N=1,084 N=813 Q. Please select the Xcel Energy
Slide 7: Learning about Renewable Programs via Xcel Energy
Customer Insights Learning about Renewable Programs via Xcel Energy | Email, Website and MyAccount 32% Email from Xcel Energy 14% 19% Xcel Energy website 20% 18% “MyAccount” on XcelEnergy.com 21% 13% Printed promotion from Xcel Energy 10% Printed promotion from another party – for 10% example a sola
Slide 8: Top Reason for Participating in a Renewable Program: Help the Environment
Customer Insights Top Reason for Participating in a Renewable Program: Help the Environment I want to help the environment 78% 42% I want to participate in energy innovation I want to save money on energy 36% I want more control over my energy source 13% I want to be less reliant on the grid 12% I w
Slide 9: Many Customers Consider Other Renewable Options
Customer Insights Many Customers Consider Other Renewable Options Not sure 20% Yes 36% No 43% N=645 Q. When evaluating your renewable options, did you consider any of Xcel Energy’s other Renewable Programs? Please select all that apply. 9
Slide 10: Customers are Mixed on Preferred Location of Renewable Energy Source
Customer Insights Customers are Mixed on Their Preferred Location of Renewable Energy Source 46% I have no preference 34% In my state 13% In my community 8% In my county N=359 10
Slide 11: Of Those Who Considered Other Programs, Most Looked At Windsource or Solar*Rewards
Customer Insights Of the 36% of Respondents Who Considered Other Renewable Programs, Most Looked At Windsource® or Solar*Rewards® Windsource® 53% 38% Solar*Rewards® 26% Solar*Rewards Community® 25% Renewable*Connect® 12% Net Metering 8% N=383 Do not recall Q. Which renewable option(s) did you consid
Slide 12: Respondents Conversed with Person or Company Other than Xcel Energy
Customer Insights The Majority of Respondents Conversed with A Person or Company Other than Xcel Energy to Obtain Information for Decision Making Conversation (phone or in person) with 36% renewable salesperson or company other than 13% Xcel Energy Xcel Energy website 32% 57% Other organization 30%
Slide 13: From a Monetary Perspective, Satisfaction with Value Received is High
Customer Insights From a Monetary Perspective, Satisfaction with Value Received is High 51% Very satisfied (8-10) 55% 22% Satisfied (6-7) 23% 19% 2019 Neutral (5) 12% 2018 3% Somewhat dissatisfied (3-4) 6% 4% Very dissatisfied (1-2) 4% N=409 Q. From a monetary consideration, how satisfied are you wi
Slide 14: From an Environmental Perspective, Satisfaction with Value is Even Higher
Customer Insights From an Environmental Perspective, Satisfaction with Value Received is Even Higher 61% Very satisfied (8-10) 74% 19% Satisfied (6-7) 15% 17% 2019 Neutral (5) 7% 2018 1% Somewhat dissatisfied (3-4) 2% 2% Very dissatisfied (1-2) 2% N=409 Q. From an environmental perspective, how sati
Slide 15: High Satisfaction with Xcel Energy Experience
Customer Insights High Satisfaction with Xcel Energy Experience 69% Very satisfied (8-10) 17% Satisfied (6-7) Neutral (5) 10% 2% Somewhat dissatisfied (3-4) Very dissatisfied (1-2) 2% N=410 Q. Overall, how satisfied are you with your experience from Xcel Energy? 15
Slide 16: High Satisfaction with Solar Developer; Lower with Solar Garden Operator
Customer Insights High Satisfaction with Solar Developer; Lower Satisfaction with Solar Garden Operator Solar Developer Solar Garden Operator 46% 69% Very satisfied Very satisfied (8-10) (8-10) 14% 14% Satisfied (6-7) Satisfied (6-7) Neutral (5) 11% Neutral (5) 30% Somewhat Somewhat 4% 5% dissatisfi
Slide 17: Respondents Like Environmentally Related Aspects of Renewable Programs
Customer Insights Respondents Like a Number of Environmentally Related Aspects of Renewable Programs Helping the environment 72% Feeling good about supporting alternative energy 68% sources 64% Reducing my carbon footprint 63% Addressing climate change Knowing that I'm primarily using renewable ener
Slide 18: Top Dislike: Not Knowing to What Degree Respondent is Helping Environment
Customer Insights Top Dislike: Not Knowing to What Degree Respondent is Helping Environment Not knowing to what degree I am helping the 55% environment Not knowing exactly what my money is buying 38% Not having enough information about benefits of my 38% program Not fulling understanding additional
Slide 19: Dashboards
Xcel Energy* Dashboards
Slide 20: Solar*Rewards – Quarterly Dashboard
General Stakeholder Group Solar*Rewards – Quarterly Dashboard 20
Slide 21: Solar*Rewards & Net Metering Only - Small
General Stakeholder Group Solar*Rewards & Net Metering Only - Small Approximately 1 MW of Solar*Rewards applications per month with more than 92 MW of total applications between Solar*Rewards & Net Metering through 2017 & 2018 21
Slide 22: Solar*Rewards - Medium
General Stakeholder Group Solar*Rewards - Medium 6 MW per quarter was subscribed in seconds in 2017. Then, with the same incentive through 2018, it went from closing in days to a few hundred kW open at year-end. Days from Creation & Cancellation Count 30 days or less 50 31 to 365 days 29 365 days or
Slide 23: On-site Storage
General Stakeholder Group On-site Storage 181 applications in 2017 vs. 149 in 2018, almost 67% of Completed projects are more than 12 months old (20% when focusing on Non-completed) Battery Project Status 3% 1% 4% 1) Documents & Payments 2) Solar Installation Details 25% 3) Engineering Review 4) Fin
Slide 24: Solar*Rewards Community – Subscribers
General Stakeholder Group Solar*Rewards Community – Subscribers Approx. 1,736 subscribers at Q4 2018, with 37% of participation count including Low-income customers, 31% for Residential, 23% Municipality, 9% Schools & Biz Participation by Customer Class Participation by Customer Segment 100% 100% 90
Slide 25: Solar*Rewards Community – Operational Status
General Stakeholder Group Solar*Rewards Community – Operational Status Doubled capacity between 2017 and 2018, expected to double again this summer Solar*Rewards Community Program Timeline 250 200 Capacity (MW) RES Plan Annual Capacity (MW) 150 Awarded Capacity (Annual) RES Plan Capacity (Cumulative
Slide 26: Solar*Rewards Community – Statewide Siting
General Stakeholder Group Solar*Rewards Community – Statewide Siting 26
Slide 27: Solar*Rewards Community – Front Range Siting
General Stakeholder Group Solar*Rewards Community – Front Range Siting WELD COUNTY BOULDER COUNTY ADAMS COUNTY JEFFERSON COUNTY ARAPAHOE COUNTY 27
Slide 28: RES Plan Discussion
Xcel Energy* RES Plan Discussion
Slide 29: RES Plan Discussion
General Stakeholder Group RES Plan Discussion • Scope of Plan: 1-3 years – NOPR • Programs – Solar*Rewards® • Today (2019) – Small / Medium / Large – CEO Low Income Program – Solar*Rewards Community® • Today (2019) – Regular RFP – Low Income RFP – Company-owned – Windsource® • Today $1.50 29
Slide 30: Solar*Rewards – 2019 Capacity
General Stakeholder Group Solar*Rewards – 2019 Capacity Small (.5 to 25 kW) • 2019 Capacity: 24 MW open at $0.05/kWh REC Incentive Medium (25.01 to 500 kW) • 2019 Annual Capacity: 24 MW at $0.0375/kWh REC Incentive • Current Q1 2019 Capacity Available (as of March 11): ~4.6 MW out of 6 MW Large (500
Slide 31: Solar*Rewards Community
Xcel Energy* Solar*Rewards Community
Slide 32: Solar*Rewards Community – 2019 Capacity
General Stakeholder Group Solar*Rewards Community – 2019 Capacity Competitive Bids • Solar Developer Survey Indicated: • Preference for Q1 RFP Launch • Mix opinions about subscriber carve outs • Regular RFP – Minimum of 15 MW, Maximum of 37 MW; 10 MW Residential “Target” • Low-income RFP – 4 MW out
Slide 33: PSCo Owned Low Income Solar Community Gardens
General Stakeholder Group PSCo Owned Low Income Solar Community Gardens • Commitment in 2016 three case settlement (3-2 MW gardens) • Selective RFP process • Over 85% of potential* LI eligible customers impacted; net savings goal ~20-30% • Energy Outreach Colorado as subscribing 33 agency 33
Slide 34: (2) Xcel Energy’
(2) Xcel Energy’