Salt River Project (SRP), is a community-based non-profit organization that provides water and power affordably to over 2 million people throughout central Arizona. It’s a unique utility company focused on offering beneficial plans for Arizona locals, including opportunities to make the best use of your solar power through net metering. Keep reading to learn about the four different SRP solar rate plans and why each one might be the right choice for you.
What Is Net Metering?
Net metering is when the energy your solar power generates can offset the cost of the electricity your house consumes. When your solar panels are set up to provide electricity to the grid, the grid becomes more robust, and there is more electricity for the whole neighborhood, regulated by your local power lines and transformers. You are then charged less money for your power because you are also contributing power to the shared power network.
Solar Rate Plans Offered by SRP
SRP offers four solar rate plans, divided into demand and export categories. Each one has a unique set of values that might benefit your property and power usage depending on your needs.
Demand Plans
Demand plans are for residents who produce some, but not all, of the electric power their home needs. These plans also allow you to “sell back” your solar energy if you generate more than your home needs in a day.
- Customer Generation Plan: Ideal for homes that use a consistent amount of energy at predictable times each day, the customer generation plan helps users lower the cost of their energy (beyond what they generate) by reducing household demand during peak hours and taking advantage of off-peak hours.
- Average Demand Plan: A more hands-off plan for homes with more unpredictable usage, this SRP plan has a higher charge for energy but gives users a discount or buy-back on power usage for every kW hour they generate instead of pulling from the grid.
Export Plans
Export plans are ideal for customers who generate most of their own energy but benefit from the stability of connection to the grid. You pay a monthly service fee and a cost per kW hour you pull from the grid. If you generate more power than your property needs, you will be credited in the solar buyback program at a fixed price of 2.81 cents per kWh.
- Time-of-Use Export Plan: The Time of Use plan helps customers save on power by using the most energy mid-day when they are generating and limiting grid-power use during off-peak hours after dark.
- Electric Vehicle Export Plan: This plan is for customers with electric vehicles, as it favors charging the vehicle overnight during off-peak hours.
Choosing the Right SRP Solar Rate Plan For You
The right solar rates plan can be determined by how much solar power your property generates and the patterns of electrical use in your Maricopa County and Greater Phoenix household. An SRP-preferred solar installer like Solar Optimum can help you choose the right plan for you. Contact us today to get started.
