SRP’s Sustainable Portfolio combines renewable energy resources with energy conservation programs to benefit the environment. The acquisition of these resources is guided by the Sustainable Portfolio Principles. Questions about our Sustainable Portfolio can be sent to firstname.lastname@example.org.
Current sustainable portfolio
SRP’s Board of Directors, which has responsibility for setting renewable and energy efficiency standards, set a goal for the company to meet 20% of its retail energy requirements through sustainable resources by 2020. SRP is currently on schedule to meet the goal by delivering 14.5% of retail requirements through sustainable resources, including: renewable energy, hydroelectric generation, conservation, energy efficiency and pricing measures (see pie chart for breakdown of retail energy by type).
One of the primary motivations for establishing sustainable energy goals is to reduce emissions intensity. Looking beyond 2020, SRP plans to transition to a long-term carbon emission intensity commitment that will continue to drive meaningful emissions reductions at the lowest cost to our customers.
Performance of renewable resources
Over the last 10 years, SRP’s renewable energy resources have made up between 4% and 7% of the annual Sustainable Portfolio target. SRP’s renewable energy performance also compares favorably when defined against the Renewable Energy Standard and Tariff (REST) – a policy for utilities under jurisdiction of the Arizona Corporation Commission (ACC). While SRP is not governed by the ACC with respect to our renewable portfolio, we exceed the REST requirements when hydroelectric generation is included. SRP includes energy from hydroelectric generation as a sustainable energy resource related to the reservoir system we manage as one of the largest suppliers of water in the Phoenix metropolitan area.
Electricity generated from renewable resources helps drive down SRP’s generation emissions intensity. SRP takes a balanced and measured approach to adding a diverse mix of new renewable generation to our portfolio to ensure that sustainable energy targets are realized while preserving reliable power and keeping costs down.
Performance of energy efficiency
Over the past several years, SRP has offered a variety of energy efficiency programs to help our customers manage their energy use and costs. Our goal is to offer options for customers while aiding in the management of SRP’s resources. Energy efficiency plays a key role in accomplishing this mission by cost-effectively meeting SRP’s current goals while contributing to long-term emission intensity reductions.
Currently, energy efficiency makes up 8.17%, or over half of the annual Sustainable Portfolio target. When comparing SRP’s portfolio performance under the ACC’s Energy Efficiency Resource Standard (EERS), SRP exceeds the Arizona target.