SRP Cool Cash is the Salt River Project's annual residential rebate for high-efficiency cooling and heat-pump upgrades, and ductless mini-split heat pumps qualify under the same per-ton structure as central systems. The rebate is paid by ton of nominal capacity, and the tier is set by the compressor: single-stage earns $75/ton, two-stage $150/ton, and variable-speed (inverter) $225/ton. Because nearly every ductless mini-split is inverter-driven, most installs land in the top $225/ton tier — for example, about $450 on a 2-ton system or $675 on a 3-ton system, up to roughly $1,125 on a 5-ton system.
All tiers require at least SEER2 15.2, above the federal heat-pump minimum of 14.3 SEER2 — a bar a quality mini-split clears easily. SRP verifies the rating from the AHRI reference number for the matched outdoor-and-indoor combination, so make sure the contractor lists it on the application. Cool Cash is paid as a one-time check or bill credit after install; the contractor does not need to be pre-enrolled, but must be licensed by the Arizona Registrar of Contractors (class L-39R, C-39, or R-39).
Coverage is the first thing to confirm. SRP serves most of the East Valley but interleaves with APS — sometimes on adjacent blocks — in parts of Scottsdale, Glendale, Tempe, Chandler, and Avondale. This matters more than usual right now, because APS discontinued its residential efficiency rebates effective January 1, 2026 under Arizona Corporation Commission Decision 81584. A mini-split buyer on an APS meter has no equivalent utility rebate, while a neighbor on SRP does. Confirm which utility bills the home's electricity before counting Cool Cash into the project budget.
The 2026 program runs through April 30, 2026, with a 6-month post-install window to submit. SRP resets the amounts and minimum efficiency thresholds for each program year (which does not align with the calendar year), so verify the current figures on savewithsrp.com before relying on them. After April 30, 2026, an install before the next program year's release can fall into a coverage gap and may not qualify retroactively.