A rebate program aimed at encouraging indoor farmers – those growing cannabis and other crops – to switch to LED lights proved so popular that Minneapolis-based utility company Xcel Energy ran out of money to pay for it.
The funding shortfall has left cannabis ancillary companies such as Scynce LED on the hook for hundreds of thousands of dollars.
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Mesa, Arizona-based Scynce LED has filed about $500,000 in unpaid rebates for lighting it shipped to clients before Xcel suspended the program in July.
“We found out we were not going to get paid until sometime in 2025, which blew up our budget for the year,” said Nick Pastushan, CEO and majority owner of Scynce LED.
“We’d already bought and paid for all these
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