SRP: EarthWise Solar Energy Incentive Program
Incentives for solar panel systems of $1.35/watt DC up to $6,750, and solar hot water systems of $0.45/kWh produced in the first year.
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As of May 1, 2012, SRP has set aside funding for 12 MW of residential photovoltaic (PV) systems, 7.5 MW of small commercial PV systems (less than 100 kW), and 9 MW of large commerical PV systems (between 100 kW and 1 MW) for fiscal year 2013. Incentives start at $0.50 per watt for residential and small commercial PV. Incentives for large commercial PV started at $0.06/kWh, but have already stepped down to $0.05/kWh as of May 4, 12. All incentives will step down over time as participation goals are met. SRP's EarthWise Solar Energy Program provides incentives to its residential and commercial customers to purchase PV or solar water-heating systems. In exchange for the incentives, SRP will receive all the renewable energy credits (RECs) associated with the systems. SRP's Board of Directors increased its self-imposed goal in 2011 of having 20% of their retail sales come from sustainable resources by 2020, mirroring the renewable energy standard that other Arizona utilities are required to meet. The RECs that SRP receives through the EarthWise program will help the utility meet this goal.
Residential Incentives
SRP has funding for a total of 12 MW of residential PV systems for fiscal year 2013. Incentives start at $0.50 per watt and will step down over time as participation goals are met.
The incentive for residential solar water heating systems is $0.40 per kilowatt hour (kWh) of estimated first year energy savings. The energy savings are estimated based on an OG-300 rating. In exchange for these incentives, SRP will have ownership of the RECs associated with the renewable energy system for a period of 20 years. More Information: SRP Website
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