What incentive does SRP offer for customers that participate in the Residential Solar Electric Program?
At this time, the number of applications received by SRP for its EarthWise™ Residential Solar Electric Program has surpassed the 4.5 megawatt (MW) cap that was established for all installations through April 30, 2011. As a result, SRP is temporarily suspending the $2.15/Watt incentive level. During the interim time period from now until May 1, 2011 when the new budget and incentive levels will be announced, SRP has set aside funding for 1 MW of residential solar electric installations at an incentive level of $1/Watt, up to 5 kilowatts. This will allow customers to move forward with a project should they decide to do so now, or they may wait until the next fiscal year when the incentive could be higher than $1 per watt. Progress towards the 1 MW goal is reflected in the thermostat provided here. SRP does prorate the incentive payment for leased systems where the lease term is less than 20 years. For example, a system with a 10-year lease would only receive 50 percent of the possible av
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