SRP Cool Cash is the Salt River Project's annual residential rebate for upgrading to a high-efficiency cooling system. SRP pays the rebate as a one-time check or bill credit after install — the contractor does not need to be pre-enrolled, but the equipment must meet the program-year efficiency minimums and the homeowner submits the application with the install paperwork.
For the 2026 program year, three rebate tiers apply, all requiring at least SEER2 15.2 (above the federal Southwest-region minimum of SEER2 14.3 for systems under 45,000 BTU/hr). The tier is determined by the compressor: single-stage units earn $75 per ton, two-stage heat pumps earn $150 per ton, and variable-stage (inverter) systems earn $225 per ton. On a typical 3-ton install, that is $225 to $675 off the project cost. Higher tiers usually also carry a larger upfront equipment cost; the rebate trims the differential, not the whole upgrade.
Coverage is the key first check. SRP serves most of the East Valley but interleaves with APS in parts of Glendale, Scottsdale, Tempe, Chandler, and Avondale — sometimes on adjacent blocks. APS's parallel rebate program was discontinued on January 1, 2026 under Arizona Corporation Commission Decision 81584, so homeowners in APS territory no longer have an equivalent offer. Confirm which utility serves the meter before quoting the rebate as part of the equipment proposal.
The 2026 program runs through April 30, 2026, with a 6-month post-install window to submit. SRP typically refreshes the amounts and minimum efficiency thresholds in late spring for the next program year; the program year does not align with the calendar year. After April 30, 2026, any install before the release of the next program year falls into a coverage gap and may not qualify retroactively under the new terms.
Installer eligibility is set by the Arizona Registrar of Contractors. Residential HVAC requires an L-39R, C-39, or R-39 license. SRP does not maintain a pre-approved contractor list for Cool Cash itself — any licensed contractor in good standing with the AZ ROC can install qualifying equipment. The contractor should provide the AHRI Reference Number for the matched system (outdoor + indoor + coil), which SRP requires on the application to verify the SEER2 rating.