As more Arizonans turn to solar energy, understanding the various utility rate plans becomes crucial. If you’re considering installing solar panels on your home, you'll need to compare the net metering policies and solar rate plans offered by Arizona Public Service (APS) and Salt River Project (SRP). This article breaks down the key differences between APS’s net metering and SRP’s solar rate plan, helping you make an informed decision. And don't forget to check out our free Arizona solar calculator to estimate your savings and find the best solar design for your needs.
APS Net Metering
Overview: APS offers a net metering program that allows homeowners with solar panels to receive credit for the excess electricity they generate and send back to the grid. Here’s how it works:
Energy Credits: When your solar panels produce more energy than your home uses, the excess electricity is sent back to the grid. APS provides you with credits for this excess energy.
Monthly Billing: These credits are applied to your monthly bill, offsetting the cost of the electricity you draw from the grid when your solar panels aren’t producing enough power (like during nighttime or cloudy days).
Annual True-Up: At the end of the year, APS calculates any remaining credits. If you have excess credits, they are typically compensated at a lower rate than the retail electricity rate, which could impact your overall savings.
SRP Solar Rate Plan
Overview: SRP, on the other hand, does not offer traditional net metering. Instead, they have specific solar rate plans designed to accommodate solar panel users. Here’s a breakdown of SRP’s approach:
Time-of-Use Rates: SRP’s solar plans often include time-of-use (TOU) rates, which charge different rates for electricity usage based on the time of day. Solar customers can benefit from producing and using electricity during peak sunlight hours when rates are higher.
Demand Charges: Some SRP plans include demand charges, which are based on the highest amount of power you use at any point during the billing cycle. This can significantly affect your bill if your energy usage peaks at certain times.
Export Rates: SRP provides an export rate for excess solar energy sent back to the grid. This rate is generally lower than the retail rate, similar to APS’s approach, but it is structured differently within the overall rate plan.
Key Differences
Billing Structure: APS uses a straightforward net metering system with credits and an annual true-up, while SRP’s plans incorporate TOU rates and demand charges, which can be more complex.
Savings Potential: Both APS and SRP compensate for excess energy at a rate lower than the retail price. However, the way these rates are integrated into the billing cycle differs, potentially impacting your savings.
Plan Complexity: APS’s net metering is simpler to understand, whereas SRP’s solar plans require a deeper understanding of TOU rates and demand charges.
Get Started with Solar Savings Today
Understanding APS and SRP’s solar plans is the first step in your solar journey. For a detailed and personalized analysis, try our free Arizona solar calculator. It’s designed to help you navigate the complexities of solar plans and maximize your savings. Don’t miss out on the opportunity to make the most of your solar investment. Start calculating your savings today!
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