SRP’s Sustainable Portfolio set a goal for the company to meet 20% of its retail energy requirements through sustainable resources by 2020.
It was developed using eight principles that continue to guide the acquisition of resources and implementation of programs. One of the primary motivations for establishing sustainable energy goals is to manage emissions through sustainable means at the lowest cost to our customers.
As of the close of SRP's 2019 fiscal year (May 1, 2018, through April 30, 2019), we are currently on schedule to meet the goal by delivering 18.625% of retail requirements through sustainable resources, including renewable energy, hydropower, energy efficiency programs, and banked credits.
- Paid over $150 million in solar incentives to approximately 20,000 customers from August 2004 through April 2019
- Paid $235 million in energy efficiency incentives to customers since May 2008, resulting in more than 19 million mega-watt hours saved
- Saw an overall 2.19% annual incremental energy savings exceeding the 2% target as a result of energy efficiency programs
Fiscal Year 2019 results
|Commercial demand-side management||1,587,546|
|Residential demand-side management||1,309,732|
|SRP facility savings||2,376|
|Total Energy Efficiency||3,196,624|
|Renewable energy credits||105,000|
|Total renewable energy||1,964,212|
|Total sustainable portfolio - Megawatt-hours||5,585,153|
|Total sustainable portfolio – % of retail requirements||18.63%|
Performance of energy efficiency
For more than a decade, SRP has offered a variety of energy efficiency programs to help our customers manage their energy use and costs. Our goal is to offer options for customers while aiding in the management of SRP’s resources. Energy efficiency plays a key role in accomplishing this mission by cost-effectively meeting SRP’s current goals while contributing to our long-term sustainability goals. Currently, energy efficiency makes up 10.66%, or over half, of the annual Sustainable Portfolio target.
When comparing SRP’s portfolio performance under the ACC’s Energy Efficiency Resource Standard (EERS), SRP exceeds the Arizona target.
SRP will evaluate and implement all supply-side and demand-side measures that either offset or do not emit greenhouse gases or that reduce the use of conventional natural gas, oil, gasoline and coal. Sustainable resources include electric generation from renewable energy sources, certified Renewable Energy Credits, customer-owned renewable resources, conservation, behavioral programs, energy efficiency and pricing measures. Sustainable resources do not include conventional natural gas or nuclear resources.
SRP's Sustainability Portfolio goals will produce the maximum sustainable energy benefit for the lowest reasonable cost to SRP's customers. Consistent with SRP Board-approved pricing principles, sustainable resources will be managed to ensure:
- Gradualism: smoothing the impacts of cost movements
- Cost relation: establishing prices based on relationships to costs
- Equity: treating all types of customers fairly
- Sufficiency: ensuring SRP's financial well-being
During the annual energy resource planning process, SRP will seek to achieve an appropriate balance between owned and purchased resources, and conservation/energy-efficiency measures. To control customer costs, preference will be given to least-cost options. Preference will be given to options that promote public education and awareness.
SRP will collaborate with customers, Arizona universities and other public and private entities to develop and expand the use of sustainable energy technologies.
SRP will actively encourage and recognize innovation in, and use of, sustainable energy technologies by employees, outside experts, the public and customers.
SRP will undertake comprehensive education efforts to inform customers and stakeholders of its sustainability efforts. SRP will publish an annual report to document the performance of its principles, review and discuss the performance of its programs, and outline its future intentions and direction. Additionally, SRP will host meetings to discuss planned program changes and will provide customers and stakeholders with information on SRP's various efforts in support of cost-effective emissions control.
All sustainable resource options adopted will comply with SRP's current purchasing policies, pricing policies and competitive procurement principles.
SRP may revise these principles as necessary to ensure that they remain in the best interests of SRP and our customers. In addition, we will proactively seek opportunities to exceed the yearly target and undertake comprehensive education efforts to inform customers and stakeholders of our sustainability efforts.