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SRP air conditioning rebate

Air conditioning makes up 40%–50% of your summer energy bill, according to Energy.gov. With a new energy-efficient AC, you could save each month and get up to $1,125 back on your initial investment. 

On this page:

    Upgrade to an energy-efficient AC and save

    If you’re considering a new AC unit, heat pump or mini-split system, the SRP Cool Cash™ Rebate can help lower your costs. Here are some signs that it’s time to upgrade:

    • Your equipment is 10-plus years old.
    • Your system is extra noisy.
    • Your unit runs longer to maintain the same thermostat setting.

    Choosing a new unit

    Arizona’s summers are hot, but that doesn’t mean that a large AC system is the best way to stay cool. A unit that’s too big for your home can lead to expensive energy bills and may cause “short cycling,” which will wear the unit out. Short cycling happens when an oversized AC cools your home quickly instead of gradually, causing the unit to rapidly turn on and off. 

    Qualifying AC units

    Central AC, heat pump and mini split packages and systems

    Compressor SEER2 Open tooltip to learn more. Heat Pump
    (Rebate per ton)
    (Rebate per ton)
    Good: Single-stage Open tooltip to learn more. 15.0 or higher $75 $75
    Better: Multi-stage Open tooltip to learn more. 15.0 or higher $150 $150
    Best: Variable-capacity Open tooltip to learn more. 15.0 or higher $225 $225
    Best: Inverter-driven mini split Open tooltip to learn more. 15.0 or higher $225 — 

    *Effective January 1, 2024, SEER systems will not be eligible for the SRP Cool Cash rebates. Only SEER2 systems will be eligible after 1/1/2024.

    Mini-splits can be ducted or ductless. Incentives paid by ton or half-ton of the system's nominal cooling capacity as listed by manufacturer's specifications.

    Work with a qualified contractor

    A participating contractor can help you choose the best system to keep you comfortable all summer long. They’ll also make sure it’s installed according to industry and manufacturer specifications so that it works at peak efficiency. 

    Estimated savings

    Compressor type: Single-stage (16-SEER/15.0-SEER2)

    Size (tons) 1-year savings estimate** 15-year savings estimate**
    3 $240 $3,600
    4 $320 $4,800
    5 $400 $6,000

    Compressor type: Multi-stage (18-SEER/17.0-SEER2)

    Size (tons) 1-year savings estimate** 15-year savings estimate**
    3 $300 $4,500
    4 $400 $6,000
    5 $500 $7,500

    Compressor type: Variable-capacity (21-SEER/20.0-SEER2)

    Size (tons) 1-year savings estimate** 15-year savings estimate**
    3 $370 $5,500
    4 $490 $7,350
    5 $610 $9,150
    **Results will vary. Assumes replacement of existing 11 SEER system, $0.11/kWh and 2,141 cooling hours.

    Apply for the SRP Cool Cash™ Rebate 

    1. Download the Cool Cash Rebate checklistDocument is a PDF.
    2. Download the Contractor Terms and Conditions agreementDocument is a PDF and have your qualified contractor sign the form. 
    3. Complete the online application via SRP’s Rebate CenterOpen new site.. By creating an account, you can manage all SRP rebates in one place. You’ll upload the contractor agreement as part of this process.
    If you don't want to create an account, email your signed contractor agreement, a dated copy of the paid invoice, a copy of the Manual J (if applicable) and a completed hard copy of the applicationDocument is a PDF to srpinfo@elaz.org. If you are applying for more than one rebate, a separate rebate application must be completed and submitted for each unit that you purchased and installed. The limit is five high efficiency cooling system rebates per customer.

    Calling all contractors: Apply for the rebate on behalf of your customers! Follow the same steps above.

    Rebate program requirements

    To participate, you must: 

    • Be a permanent SRP residential electric customer who lives in a single-family detached home, single-family attached home, mobile home or apartment/condo.
    • Have the qualified system installed by a contractor licensed in Arizona to install residential air-conditioning systems before April 30, 2025.
    • Replace or supplement an existing central heat pump or central AC with a new high-efficiency system that meets minimum efficiency ratings.
    • Submit Manual J load calculations with your application on single-stage systems (otherwise, your application will be delayed or denied). Load calculations are not required for multi-stage or variable-capacity systems.
    • Allow, upon request, SRP or our agent to inspect the installed unit to verify compliance with Cool Cash requirements.

    Please note:

    • New Construction homes, window units, and installations in garages and other non-habitable spaces do not qualify for the rebate.
    • Both indoor air handler and condensing units must be replaced on split central systems. 
    • Please read the Terms and ConditionsDocument is a PDF for complete program requirements. 

    Find outOpen new site. about federal tax credits on air conditioning.

    The Department of Energy (DOE) offers a Weatherization Assistance ProgramOpen new site. (WAP) available for households with lower incomes that qualify for Supplemental Security Income, Aid to Families with Dependent Children, and other income eligibility criteria. This program includes a home energy assessment and common home improvements such as testing, tuning, and maintaining cooling and heating equipment. In some cases, cooling and heating equipment may be replaced with new equipment. Please see the linkOpen new site. for additional information.

    Other ways to improve your AC

    Leave the air vents open.

    Closing vents in >10% of your home creates a pressure imbalance and reduces the effectiveness of your cooling system.

    Do moisture-producing chores when it is cooler.

    Wash clothes, do dishes and mop floors either early in the morning or at night to keep your system from working harder.

    Install a programmable thermostat.

    Set your thermostat to allow the temperature in your home to increase by 5 to 10 degrees while you're away and to return to a comfortable temperature an hour before you return.

    Turn your air-conditioning fan to “auto."

    When setting the AC unit to "auto" you don't use the system's central fan to provide air circulation - use circulating fans in individual rooms.

    Buy a higher-SEER unit when replacing your cooling system.

    The higher the number, the more cooling you’ll get for your dollar. Ask a qualified air-conditioning contractor what level of efficiency is right for your home.


    The seasonal energy efficiency ratio (SEER) measures how efficiently a central cooling system will run during an entire cooling season. The ratio is calculated by dividing the cooling output of the air conditioner (or heat pump) by the energy it uses in kilowatt hours. The higher the SEER rating, the more comfort you get for each dollar spent.

    While SRP does not endorse any particular contractor, working with a qualified contractor ensures that the unit you buy and its installation follow industry and manufacturer standards. This also ensures your eligibility for the SRP Cool Cash Rebate. 

    • Paid-in-full itemized invoice or receipt
    • AHRI reference number 
    • Model/unit number
    • Coil model number
    • Furnace model number, if applicable
    • System type
    • Compressor type
    • Size of system in tons
    • Signed Contractor Terms and Conditions agreementDocument is a PDF

    For a more detailed list, download the SRP Cool Cash Rebate checklistDocument is a PDF. Most of these items will be provided by your contractor.

    Yes. If you’ve installed a new energy-efficient unit that meets our rebate requirements within the last six months and have paperwork showing the installation date, you can apply.

    No. At this time, our current rebate is only for new units.  


    This program is in partnership with the Electric League of Arizona (ELA). For questions, call ELA at (602) 264-3108(602) 264-3108 or email srpinfo@elaz.org.


    SRP reserves the right to change or cancel this promotion and its terms and conditions at any time.