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SRP lowers solar rebates, caps size to spread out moneySalt River Project will lower the amount of rebate incentives for solar  projects, effective June 1, the company announced Tuesday.The move comes in response to increased demand in the utility’s EarthWiseSolar Energy program and because systems are becoming more affordable,said Patty Garcia-Likens, a company spokeswoman. Budget constraints anda desire to help more people with smaller systems also played a role in thechanges, she said. “Our hope is to bring in more customers with smaller systems and be able tospread the money around,” she said.The plan will reduce incentives from $3 per installed watt for residential useto $2.70. Commercial system rebates will be cut from $2.50 per watt to$2.25.On a 4-kilowatt system, an average unit for residential use, that translates toa drop from $12,000 to about $10,800.The program also will lower the cap for residential programs. Through theend of May, it will remain at 20 kilowatts, meaning an individual residencecould get as much as $60,000 back from the utility. In June, the cap willdrop to 5 kilowatts.This is the first time SRP has lowered its incentives, and plans over the nextsix years indicate incentives will drop about 15 cents per watt annually.There is no planned adjustment in the 50 cents-per-kilowatt incentive for solar water heating.
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