Incentives and Rebates
Oahe Electric has a very attractive incentive and rebate plan available to it's consumers. Here is a list of what we offer:
Heating and Cooling
- Heat Pump with Electric Furnace - $600 rebate - Plus an electric rate of 5 cents per kWh on your heating and cooling usage
- Electric Furnace with A/C - $200 rebate - Plus an electric rate of 5 cents per kWh on your heating and cooling usage
- Geothermal Unit - $600 rebate - Plus an electric rate of 5 cents per kWh on your heating and cooling usage
- If 8 KW or more of electric heat is installed in a shop building the rebate is $200
All heat pumps must be Energy Star Rated.
These electric rates are designed for all of the heating. Plus, if you abide by the load management program for cooling you will also receive this excellent rate. The submeter must be installed on the outside of the home.
The water heater must have a lifetime warranty and a minimum capacity of 50 gallons. Both Marathon and Everlast brand water heaters are a couple that meet all of our criteria. The consumer must agree to have a load control device installed on the water heater. After the above is agreed to, the consumer is entitled to a $6 per gallon capacity rebate. Also, the consumer would see a $4 credit on their monthly electric bill. Oahe Electric feels that we can be a strong decision making factor for those who are interested by combining the low rates along with the rebate program.
Rebates for Appliances
Clothes washers and dishwashers must be Energy Star Rates and must be replacing existing appliances. New purchases for new construction is not allowed. Oahe Electric will provide a $50 rebate for each item. An invoice from the sales merchant shall be mailed (Oahe Electric Cooperative, Inc., PO Box 216, Blunt, SD 57522) or faxed (605-962-6306) to Oahe Electric with the appropriate information.
Refrigerators and freezers are not eligible for rebates through Oahe Electric.
What electric rate will I receive if I put in a heat pump and/or a fossil fuel furnace with an A/C unit?
Your rate will be 9 cents per kWh and you will receive no rebates.
What are the efficiency ratings for electric heating systems?
And electric furnace is 100% efficient. An air to air heat pump is 250% efficient. And lastly, a geothermal heat pump is 300% efficient.
What does this mean?
Well, for every $1 it costs you to operate an electric furnace, you get $1 of heating value out of it. Now, with a heat pump for every $1 it costs you to operate it you get $2.50 worth of heating value out of it. A heat pump does not have to heat an element or burn a fuel to create warmth. It simply extracts heat energy from cold air, and then concentrates it with a compressor to a temperature that can be used in your home for heating.
How much electricity will I use to heat and cool my home in a 12-month period by using a heat pump and electric furnace?
Statistics have shown that a modern home will use an average of 15,000 kWh's per year (15,000 kWh's x .05 cents per kWh = $750/year for heating and cooling). Divided by 365 days per year, it would cost you $2.05 per day to heat and cool your home. Using an electric furnace and A/C unit your usage will be higher because an electric furnace is 100% efficient where a heat pump is 250% efficient.
How efficient is a gas furnace?
A gas furnace is only 90% efficient! That's right! For every $1 it costs you to operate a gas furnace you get .90 cents worth of heating value out of it.
How much natural gas will I use in a heating season?
Statistics have shown that a modern home will use around 100 decatherm's per heating season. At $8.00 per decatherm this would cost you $800 per heating season. Plus, your cooling costs will be at the higher rate from Oahe Electric Cooperative, Inc.
Which is the smarter choice?
Please listen closely to our area heating and cooling contractors as they answer your questions. If you have any further questions or concerns, please contact Oahe Electric Cooperative, Inc. at firstname.lastname@example.org , email@example.com or call us at 1-800-640-6243.