Arizona Public Service Co. (APS) has slashed its solar incentive rates – dropping the rate from $2.15 per installed watt to $1.95 per installed watt. The utility has received the number of applications needed to hit a trigger point that reduces the incentive, the Phoenix Business Journal reports. The Arizona Corporation Commission has approved APS' action.
APS has received incentive requests for 3 MW of residential rooftop systems at the $2.15 incentive rate and 1.8 MW of requests at the $1.95 incentive rate. The utility had received permission on April 13 to lower the rate from $3 per installed watt.
Customers seeking incentives now may need to wait until October or early 2011 in order to receive their incentives if customers currently in the reservation line do not cancel, according to the Phoenix Business Journal.
SOURCE: Phoenix Business Journal