Solar electricity for your home
The Arizona tax credit is 25% of the cost, capped at $1,000 maximum credit per residence, regardless of the number of energy devices installed.
Savings are calculated based on an annual solar energy production of 1,600 kWh per kW-DC at $0.095 per kWh, and will vary based on the size of the system installed, orientation and energy consumption.
The SRP Residential Solar Electric Program is designed to encourage investment in solar technology by helping reduce the system's cost for customers.
Updated Aug. 18, 2014
SRP has set aside funding for 12 megawatts (MW) of residential solar electric installations for customers for the Fiscal Year 2015 (May 1, 2014 – April 30, 2015). Of the 12 MW, 10.75 MW has been set aside for solar on existing homes and 1.25 MW has been set aside for new home construction. The incentive structure is $0.05 per watt. SRP incentives are capped at a 5kW (DC) system size.
Step 1 - View this video
The video below reviews important things to consider when determining if a solar electric system makes sense for your home.
Step 2 - Review financing options
It is important to review the financial implications before deciding to install a solar electric system. The ultimate out-of-pocket cost will depend on whether you purchase the system outright, obtain a loan, or lease the system. Examine all of your options in order to choose the financing method that best fits with your lifestyle.
Here's an example to help you calculate the costs associated with the installation of a solar electric system if you were to purchase your system outright and receive SRP's incentives and applicable tax credits. Depending on your financing method, there may be other costs to take into account such as loan/lease payments and termination clauses.
|Size||Typical cost||SRP solar incentive||Arizona tax credit||Federal tax credit||Net cost||Annual savings||Simple payback|
You can also see the cost per watt ranges for solar electric systems here.
Step 3 - Review process checklist
The SRP Residential Solar Electric Process Checklist will walk you through the steps you will need to follow in order to qualify for an SRP incentive.
Please be sure to review the program requirements. The process typically takes three to four months from SRP's receipt of the completed application package until the incentive is issued, but can vary based on project specifics.
Step 4 - Select a contractor
Once you have determined that installing a solar electric makes sense, you will need to select a licensed solar electric dealer and installer. Get advice to help you make an educated choice and use the Solar Contractor Bid Comparison Form to evaluate your options.
Once selected, your contractor will help you complete and submit all necessary paperwork to SRP.
Frequently asked questions
Solar installations in your neighborhood
Learn more about the status of solar installations throughout Arizona at www.arizonagoessolar.org.
If you have questions about the SRP Residential Solar Electric Program, please contact a solar representative at (602) 236-4448.
SRP Solar Energy is also available to business customers.