SRP’s New Battery Incentive Increases Consumer Savings

Some Arizona solar customers could save more money with the Salt River Project’s (SRP) new incentive program for purchasing a residential solar battery. 

Last week, SRP announced the Battery Storage Incentive Program, through which solar energy consumers can save up to $1,800 when they purchase a lithium ion battery for their residential solar panels. For a 36-month period, which began on May 1, 2018, consumers can save $150 per DC-kWh. This incentive is only available to the first 4,500 people who purchase a qualifying solar battery.
 
SRP is using the incentive to collect data on how battery usage impacts the solar community. They also hope to showcase how beneficial battery storage can be in a residential setting.
 
Solar batteries are becoming a popular option for solar consumers due to their increased energy savings. Net metering credits are decreasing in value (or in some cases, completely disappearing), making solar batteries an increasingly enticing money-saving alternative.
 
With a solar battery, instead of selling excess energy back to the power grid, it gets stored in the battery. The stored energy can then be used when necessary. This is especially helpful in Arizona where there are time-of-use rates, as stored energy can be used during peak times. This will keep more money in consumers’ pockets. Click here to learn more about SRP’s battery incentive program.
 
Additionally, SRP customers can save even more through the new Demand Assurance program, which limits charges for higher than usual levels of kW demand. Once enrolled in the program, a customer’s billed demand charge won't exceed 3 kilowatts more than their highest-billed demand over the past twelve months. Click here to learn more about the program, and to see examples of how much money enrolling can save.
 
Looking to go solar and start saving? Ready to install a battery storage system? SunHarvest Solar can help! We offer a variety of solar panel and battery options. Contact us to learn more about how you can save money by switching to solar energy.