SRP (Salt River Project) has laid out an exciting plan for our power system, set to roll out between 2025 and 2035. This plan, developed over two years with input from over 1,400 customers and various stakeholders, aims to ensure our electricity remains affordable, reliable, and sustainable.
A key takeaway from the plan is that affordability is a top concern for SRP's customers. As we anticipate a 25% increase in power demand by 2030, SRP is gearing up to add more renewable energy sources and energy storage alongside using natural gas. This balance is crucial to maintain affordability without compromising reliability.
The Integrated System Plan marks a shift from traditional utility planning. It is a holistic roadmap for its future power system that factors in evolving customer energy needs and achieving SRP’s 2035 carbon reduction goals.
Resource Additions Must Include a Wide Range of Technologies:
The plan involves doubling or tripling our power capacity from various technologies over the next decade.
SRP’s plan prepares to add 7,000 megawatts (MW) of renewable resources, including 6,000 MW, from large-scale solar projects by 2035. This is enough to power over 1.3 million average-sized homes. Additionally, 1,500 MW of new battery resources and 1,000 MW of long-duration energy storage from pumped hydro are on the cards, ready to power over 560,000 homes. This strategy also supports a 56% reduction in water usage by SRP’s power-generating resources from 2005 levels.
Power Reliability with a Customer Focus:
This summer, SRP saw a multi-day, record-breaking peak energy demand on its power system. This summer beat previous records by more than 7% for an extended period. To help ensure the continued reliability of SRP’s power system, the Integrated System Plan recommends SRP prepare to add 2,000 MW of natural gas by 2035. These resources will support the grid as SRP integrates more solar, battery, and other renewable resources and SRP moves forward with the planned retirement of more than 1,300 MW of coal.