Solar Guide for Salt River Project (SRP) Customers

If you're a Salt River Project (SRP) customer considering solar energy, you're making a smart financial decision. With residential electricity rates averaging 13.5 cents per kWh, solar panels can dramatically reduce or even eliminate your monthly electric bill. The typical Salt River Project (SRP) customer spends approximately $108 per month on electricity — money that could be working for you instead of going to the utility.

Phoenix East Valley

Salt River Project (SRP) has a reduced rate net metering policy. While the buyback rate of 9.45¢/kWh is lower than the 13.5¢/kWh retail rate, solar remains highly economical. The key is to size your system to match your daytime consumption as closely as possible, maximizing direct savings at the retail rate. Any excess generation still earns you credits, just at the reduced buyback rate.

An 8kW solar system for a Salt River Project (SRP) customer costs approximately $20,880 before the 30% federal Investment Tax Credit. After the ITC, your net cost drops to about $14,616. This system produces enough clean energy to save you approximately $2,178 per year, resulting in a payback period of roughly 5 years.

After your system pays for itself, you'll enjoy 17+ years of dramatically reduced electricity costs. Over a 25-year period, total savings for Salt River Project (SRP) customers are estimated at $54,450 — and that's without accounting for the likely 2-3% annual increase in electricity rates that would make your savings even greater.