Arizona’s Salt River Project has six categories of rate plans. Some of those categories have multiple rate plans. In total, SRP actually offers 16 different rate plans! That may make it sound like it’s complicated to pick an SRP rate plan. Thankfully, it’s not. This article breaks down all of the SRP rate plans offered in SRP’s different categories of rate plans so you can choose the plan that’s right for you.
SRP Solar rate plans
For homeowners looking to go solar, choosing the right rate plan is important to maximize the financial benefit of your solar system. There are four different rate plans available to solar customers, each with their own unique characteristics.
Each of the four plans charges customers based on their usage throughout the month and incur fixed monthly charges. The electricity rates vary based on the time of the day the electricity is used, which are referred to as Time-of-Use Rates.
Two of the four plans have lower rates than the others, but also incur a monthly Demand Charge.
What are Time-of-Use Rates?
With Time-of-Use, rates vary based on the time of the day the electricity is used, the season, and the rate plan.
For each plan, there are “peak” times and “off-peak” times. Typically, nights and weekends will be “off-peak”, while the late afternoon and sometimes mornings will be “peak”. Rates during peak times are higher, while rates during off-peak times are lower. When on a Time-of-Use plan, you’ll want to limit your electrical usage during peak hours to save money.
What is Demand and how does it differ from Usage?
Electricity demand represents the rate at which electricity is consumed. In other words, demand is the amount of power that is used at any given time. The more power you need at once, the more it costs the utility company to provide this power. Demand is measured in kilowatts.
Electricity usage, on the other hand, represents the amount of electricity that has been consumed over a certain time period, typically a month. Usage is measured in kilowatt-hours.
As an example, let’s say that a home has three electrical items: a light bulb, a refrigerator, and a television. When all of these items are turned on, they total 2 kilowatts. In this example, the demand is equal to 2 kilowatts. If they were all to be turned on for an hour, the usage would be equal to 2 kilowatt-hours.
Now that we understand the basics, let’s look at each of the four plans:
Time-of-Use Export Plan
The Time-of-Use export plan is a fairly simple Time-of-Use rate plan. There is no demand charge associated with this plan, so customers are charged only for their usage plus any fixed monthly charges. SRP recommends this plan for people who have spikes in demand, for example, those who use their air conditioner frequently, have an electric heater or an electric tankless water heater, and who are not willing or able to manage their electrical consumption to limit this demand.
As far as the Time-of-Use rates, peak hours during the winter months of November to April are from 5 PM to 9 PM weekdays. From May through October, peak rate hours are from 2 PM to 8 PM weekdays. You pay off-peak rates regardless of the time of day during weekends and holidays.
Winter, November through April: Off-peak hours are from 9 PM to 5 AM at 6.91 cents per kilowatt-hour. On-peak hours are from 5 PM to 9 PM and 5 AM to 9 AM at 9.51 cents per kilowatt-hour weekdays.
Summer, May, June, and September October: Off-peak hours are from 8 PM to 2 PM at 7.27 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 20.94 cents per kilowatt-hour weekdays.
Summer peak: July and August: Off-peak hours are from 8 PM to 2 PM at 7.3 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 24.09 cents per kilowatt-hour weekdays.
This plan pays you 2.81 cents per kilowatt-hour for any excess power you generate and send to the grid. That compensation rate is called an “export rate” by SRP, hence the name of this plan. Most homes on this plan will pay a monthly service charge of $32.44. Very large homes with an electrical panel rated for more than 200 Amps will pay a monthly service charge of $45.44.
SRP Electric Vehicle Export Plan
The SRP Electric Vehicle Export Plan works similar to the Time-of-Use Export Plan but it also has a special low “super off-peak” rate from 11 PM to 5 AM for charging an electric vehicle. You must own an EV or plug-in hybrid to be eligible for this plan.
This plan also pays SRPs Export Rate of 2.81 cents per kilowatt-hour for any power you send to the grid. Just like any Time-of-Use plan, you’ll want to limit your electric usage during peak rate hours to save money.
Peak rate hours vary by season. From November to April, peak hours are from 5 PM to 9 PM weekdays. From May through October, peak rate hours are from 2 PM to 8 PM weekdays. You pay off-peak rates regardless of the time of day during weekends and holidays.
Winter, November through April: Off-peak 7.37 cents per kilowatt-hour. On-peak 9.51 cents per kilowatt-hour, Super off-peak 5.75 cents per kilowatt-hour.
Summer, May, June, and September October: Off-peak, 7.65 cents per kilowatt-hour. On-peak, 20.94 cents per kilowatt-hour, Super off-peak 6.11 cents per kilowatt-hour.
Summer peak: July and August: Off-peak, 7.7 cents per kilowatt-hour. On-peak, 24.09 cents per kilowatt-hour, Super off-peak 6.14 cents per kilowatt-hour.
SRP Customer generation plan
The SRP Customer Generation incorporates a demand charge into the billing structure. On this plan, rates are about half of the cost of the two Time-of-Use plans above, but customers are also charged a per-kilowatt demand charge based on their peak demand used in that month.
This plan may be the right plan for you if your electrical demand is fairly constant, or if you are willing to change your electrical usage behavior to maximize savings. This plan offers the potential for the highest savings to customers who are able to manage their electricity usage throughout the day, thereby avoiding spikes in demand.
This plan also comes with a service charge of $32.44 per month.
On-peak demand charges (Per kilowatt-hour of your highest electrical usage)
| First 3 kilowatts | Next 7 kilowatts | All additional | |
| Winter | $3.49 | $5.58 | $9.57 |
| Summer | $7.89 | $14.37 | $27.28 |
| Summer peak | $9.43 | $17.51 | $33.59 |
Peak rate hours vary by season. From November to April, peak hours are from 5 PM to 9 PM on weekdays. From May through October, peak rate hours are from 2 PM to 8 PM on weekdays. You pay off-peak rates regardless of the time of day during weekends and holidays.
Winter, November through April: Off-peak hours are from 9 PM to 5 AM at 3.7 cents per kilowatt-hour. On-peak hours are from 5 PM to 9 PM and 5 AM to 9 AM at 4.1 cents per kilowatt-hour weekdays.
Summer, May, June, and September October: Off-peak hours are from 8 PM to 2 PM at 3.6 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 4.62 cents per kilowatt-hour weekdays.
Summer peak: July and August: Off-peak hours are from 8 PM to 2 PM at 4.12 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 6.22 cents per kilowatt-hour weekdays.
SRP recommends this plan for homeowners who can shift as much of their electrical usage as possible to off-peak hours. During summertime, solar systems will be producing energy during sunny days at the beginning of the peak rate hours, which start at 2 PM. Thus solar owners may be able to reduce their utility bills by using the power from their system while the sun is shining.
Home batteries can also help save money on this plan by providing power to the home during peak rate hours.
This plan is a net-metered plan. Excess kilowatt-hours delivered to the grid are subtracted from the amount of electricity consumed in kilowatt-hours by the home to determine net usage in kilowatt-hours.
SRP Average demand plan
The Average Demand plan also includes a demand charge, however, unlike the Customer Generation plan, the kilowatt charge does not vary and instead is the same for each kilowatt. With this plan, you want to minimize your household demand for electricity during peak rate hours. The demand charge is a per-kilowatt-hour charge that is calculated using your peak demand for power during on-peak hours. This plan also comes with a service charge of $32.44 per month.
SRP recommends this plan for people who routinely need 10 kilowatts or more of power during the plan’s peak hours of 2 PM to 8 PM. This plan is also recommended if you have big variations in your electrical demand. For example, if you normally use about 5 kilowatts per day of electricity, but occasionally your demand reaches 10 kilowatts or more in a single day, SRP recommends this plan for people who regularly have very high demand and are not willing or able to minimize these demand peaks.
On-peak demand charges (Per kilowatt-hour of your highest on-peak electrical usage)
| Winter Nov. – April | Summer May, Sept. Oct. | Summer-peak July – Aug. |
| $8.13 | $19.29 | $21.94 |
Peak rate hours vary by season. From November to April, peak hours are from 5 PM to 9 PM weekdays. From May through October, peak rate hours are from 2 PM to 8 PM weekdays. You pay off-peak rates regardless of the time of day during weekends and holidays.
Winter, November through April: Off-peak hours are from 9 PM to 5 AM at 3.7 cents per kilowatt-hour. On-peak hours are from 5 PM to 9 PM and 5 AM to 9 AM at 4.1 cents per kilowatt-hour weekdays.
Summer, May, June, and September October: Off-peak hours are from 8 PM to 2 PM at 3.6 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 4.62 cents per kilowatt-hour weekdays.
Summer peak: July and August: Off-peak hours are from 8 PM to 2 PM at 4.12 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 6.22 cents per kilowatt-hour weekdays.
Home batteries can also help save money on this plan by providing power to the home during peak rate hours.
This plan is a net-metered plan. Excess kilowatt-hours delivered to the grid are subtracted from the amount of electricity consumed in kilowatt-hours by the home to determine net usage in kilowatt-hours.
How Demand Assurance works
This plan limits your billed demand charge to 3 kilowatts more than your highest billed demand over the previous 12-month period. A demand charge is based on the highest amount of power you required from the grid at any one time during the previous month. There are two solar billing plans that include demand charges, Customer Generation and Average Demand.
An example of how Demand Assurance works
If your highest billed monthly charge for the past 12 months was 5 kilowatts, but you have a spike of 10 kilowatts in usage for some reason on your most recent bill, Demand Assurance will limit the demand charge on your bill to 8 kilowatts. That 8 kilowatts then becomes your new highest monthly usage.
How to protect yourself from high demand charges with a home solar system
If you are going to be doing something that will consume a lot of power, then plan to do it during the day when the sun is shining. That way, your solar can provide some of the power you’ll be consuming and help you avoid a spike in your electrical usage. Another way to smooth out spikes in your electrical demand is to not run all your major appliances at once.
SRP non-solar plans
SRP Basic price plan
The basic price plan is a simple plan. You pay the same rate for electricity regardless of when you use it. That rate increases slightly if your usage exceeds a predetermined level. That level varies during the summer.
- Winter, November through April: Flat rate of 7.8c cents per kilowatt-hour
- Summer, May, June, and September October: 10.91 cents per kilowatt-hour up to 2000 kilowatt-hours. 11.34 cents for all usage above 2001 Kilowatt-hours
- Summer Peak, July, and August: 11.57 cents per kilowatt-hour for the first 2000 kilowatt-hours. 12.7 cents per kilowatt-hour for all usage above 2001 kilowatt-hours
According to the Salt River Project, the basic plan may be a good choice for you if:
- Your home is small in size
- Someone is often home during the day
- You use major appliances but not on a daily basis
- You are a part-time resident
This plan is not for use with solar-equipped homes.
SRP Time-of-Use (TOU) plan
The SRP TOU plan can save you money on electricity if you can minimize your usage during peak rate hours. Peak rate hours vary by season. From November to April, peak hours are from 5 PM to 9 PM weekdays. From May through October, peak rate hours are from 2 PM to 8 PM weekdays. You pay off-peak rates regardless of the time of day during weekends and holidays.
Winter, November through April: Off-peak hours are from 9 PM to 5 AM at 6.91 cents per kilowatt-hour. On-peak hours are from 5 PM to 9 PM and 5 AM to 9 AM at 9.51 cents per kilowatt-hour weekdays.
Summer, May, June, and September October: Off-peak hours are from 8 PM to 2 PM at 7.27 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 20.94 cents per kilowatt-hour weekdays.
Summer peak: July and August: Off-peak hours are from 8 PM to 2 PM at 7.3 cents per kilowatt-hour. On peak hours are from 2 PM to 8 PM at 24.09 cents per kilowatt-hour weekdays.
To save money on the SRP TOU plan, you need to use less power during peak rate hours. That can be done by shifting when you use major appliances such as the washer and dryer to off-peak hours. SRP recommends the TOU plan for homes that are average to large in size and for homes with pools.
M-Power Prepaid plan
The M-Power plan is a prepaid plan that enables you to manage your electricity usage using an M-Power box to monitor your usage. With M-Power, you pay a flat rate for electricity that varies depending on the season.
Winter, November through April: 7.82 cents per kilowatt-hour
Summer, May, June, and September October: 11.14 cents per kilowatt-hour
Summer peak: July and August: 11.85 cents per kilowatt-hour
The M-Power plan is the simplest plan that SRP offers. It comes with an app that lets you monitor your power usage and buy power from anywhere you have an internet connection.
SRP EZ plan
The SRP EZ-3 price plan works in a similar fashion to the SRP TOU plan. You pay a lower price for electricity during off-peak hours and a higher rate during on-peak hours. The rate you are charged varies by season. On peak hours are from 3 PM to 6 PM. Off-peak pricing is from 6 PM to 3 PM. Off-peak rates are charged on weekends and holidays.
Winter, November through April: Off-peak 7.83 cents per kilowatt-hour. On-peak 10.63 cents per kilowatt-hour.
Summer, May, June, and September October: Off-peak, 8.29 cents per kilowatt-hour. On-peak, 28.95 cents per kilowatt-hour
Summer peak: July and August: Off-peak, 8.53 cents per kilowatt-hour. On-peak, 34.44 cents per kilowatt-hour.
According to SRP, you can save money on the EZ-3 plan if you can:
- Plan ahead to limit power use during On-peak rate hours.
- Run major appliances such as washers and dryers during off-peak hours.
- Your home is average to large in size.
- You have a pool.
SRP’s 90-day risk-free guarantee
If you are on the basic rate plan and you want to try the EZ-3 plan, SRP offers a 90-day money-back guarantee. If your first three bills on EZ-3 aren’t lower than what you paid on the basic plan, SRP will switch you back to the basic plan and credit you for the extra that you paid.
Electric vehicle and plugin hybrid price plan
This plan is for people who own or lease a highway-capable electric vehicle or plug-in hybrid who don’t have home solar. If you do have home solar, then see the EV Export Price Plan above.
The EV plan is similar to the TOU plan, but it offers additional savings via a super off-peak rate that is lower than the regular off-peak rate. Users of this plan can save on charging their cars during super off-peak rate times of 11 PM to 5 AM. Like the TOU plan, on-peak rates are not charged on weekends and holidays. However, super off-peak rates still apply on weekends and holidays, so you can save on charging your car no matter what day it is.
SRP’s 90 Day risk-free guarantee
If you are on the basic rate plan and you want to try the EV plan, SRP offers a 90-day money-back guarantee. If your first three bills on the EV plan aren’t lower than what you paid on the basic plan, SRP will switch you back to the basic plan and credit you for the extra that you paid.
Winter, November through April: Off-peak, 7.37 cents per kilowatt-hour. On-peak, 9.51 cents per kilowatt-hour. Super off-peak, 5.75 cents per kilowatt-hour.
Summer, May, June, and September October: Off-peak, 7.65 cents per kilowatt-hour. On-peak, 20.94 cents per kilowatt-hour. Super off-peak, 6.11 cents per kilowatt-hour.
Summer peak: July and August: Off-peak, 7.7 cents per kilowatt-hour. On-peak, 24.09 cents per kilowatt-hour. Super off-peak, 6.14 cents per kilowatt-hour.
The Electric Vehicle plan offers lower rates than the TOU or EZ-3 plans. Thus if you are eligible for this plan, it can save you money even during non-Super off-peak rate times.
Go solar with confidence with Freedom Forever
As a customer of the Salt River Project, you can confidently go solar with Freedom Forever. We guarantee the amount of power that your solar system will produce for a full 25 years.
Freedom Forever guarantees that the solar system will produce the electricity promised with our 25-Year Production Guarantee. We will even pay you for any shortfall from our fault. However, your actual savings will depend on your usage and electricity rates in your area. You should carefully consider if the usage and rates shown in your proposal are appropriate.
What we do if there is a problem. We monitor your system for 25 years. If we detect that its performance is falling short, we’ll contact you and send someone out to fix it. If the shortfall is caused by something that is our fault, we will compensate you for the shortfall. The amount of compensation you receive will be listed in your contract with us.