SRP offers $1,000 rebates to drivers buying or leasing EVs

Above: Lucid Motors' lineup has a range of 406 miles and hp of 480 all the way up to 517 miles and 800 hp. Business News | 4 Mar |

With a goal to support the enablement of 500,000 electric vehicle’s (EV) in SRP’s service territory by 2035, the utility just announced it will give $1,000 to any of its residential customers purchasing or leasing a new EV from a local dealership starting in February through to the end of December 2021, or until the program funds have been depleted.

“What is exciting is the ability to make EV’s more affordable and accessible to our customers who are interested in driving electric,” said Catherine O’Brien, Electric Vehicle Lead for SRP. “This $1,000 rebate is in addition to the federal income tax credit customers can receive for up to $7,500 for many plug-in cars.”


READ ALSO: Lucid Motors electric vehicle factory will bring 4,800 jobs to Arizona


The rebate through SRP applies to residential customers who are purchasing or leasing any new plug-in vehicle, including battery electric vehicles and plug-in hybrid electric vehicles, from Valley-based car dealerships. In addition, SRP is also offering a $250 rebate for anyone purchasing a residential Level 2 smart charger from SRP’s Marketplace, which is a discount of more than 30%.

“It’s great to see cost savings in addition to many other benefits EV drivers experience,” said O’Brien. “We hear from customers in SRP’s EV Community that the costs associated with charging their EV’s are much lower than they expected. This is promising as cost can at times be cited as a deterrent for switching to an EV.”

Cost is something SRP closely analyzes when it comes to serving customers who drive EVs, and as a result, the utility developed an EV Price Plan which works like a time-of-use price plan. With it, EV owners can lower home energy costs by charging their vehicle during super off-peak hours, between 11 p.m. and 5 a.m. Charging during these hours is easy, as many EVs and chargers can be programmed to start charging when it is most cost effective, offering customers another way to save.

SRP also offers an EV Export Price Plan for customers with rooftop solar who produce some of their own energy. These customers can also see energy cost savings when charging EVs and using energy from the grid during lower-priced, off-peak hours.

Customers interested in EV and charger rebates and learning more about how they can qualify should get started by visiting srpdriveelectric.com. SRP is giving a maximum of two EV rebates per household and will send rebate checks in the mail to customers who submit an application online and meet proper qualifications.

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