Good News About 2017 Rebates
Current Times/Rural Missouri November 2016
There's good news about rebates for Cuivre River Electric members. All current Take Control & Save rebates have been renewed for 2017.
Rebates for homes and businesses include:
Water Heater Rebate: $50: 90%+ efficient, standard electric tank-style and heat pump units (no rebates for tankless systems)
GSHP Rebate: $750 per Ton, 19.1 EER: qualifying new installations; $150 per Ton for qualifying replacement GSHPs
Insulation Rebate: 50%: (up to $500) for basement, crawl space or slab insulation that is installed in conjunction with a GSHP and meets Energy Star R-value recommendations
Dual Fuel Rebate: $150 per Ton, 16.5 SEER: for qualifying air source heat pumps and mini-split heat pump systems
Business Lighting Rebate: amounts vary. Criteria are available for schools and commercial establishments undertaking energy-efficient lighting installations and upgrades.
The news is not as promising for the renewal of Federal Tax Credits of 10-30% for residential energy efficiency.
The most significant tax credit among many set to end December 31, 2016 is the 30% credit for qualifying ground source heat pump (GSHP) installations. Unless legislators take action to reinstate the GSHP tax credit, it will expire.
"Hundreds of Cuivre River members have paired the tax credit with their Cuivre River Electric rebate to greatly reduce up-front costs of a new, super-efficient GSHP," says Manager of Member Services Kevin Hurd. The tax credit expiration date looms large for anyone with a GSHP installation in progress.
To learn more about Federal Tax Credits for Energy Efficiency that is set to expire in 2016 visit: www.energystar.gov. To contact Congress about reinstating the GSHP/Geothermal Tax Credits, visit www.action.coop.
Regardless of the tax credit, savings will still be significant for Cuivre River Electric members who install qualifying* GSHPs. "At $750 per Ton for a new installation, our rebates go a long way toward helping our members install a GSHP," says Hurd. Members have received more than $2.75 million to install GSHPs since the current rebate program was launched in 2008.
Families and businesses have received more than $3.1 million for all rebates combined.
To learn more about rebate guidelines, energy efficiency rating requirements, or obtain rebate applications visit www.cuivre.com, call (800) 392-3709, ext.4833 or 4399, or stop by a Cuivre River Electric Cooperative office.
*Efficiency requirements for Take Control & Save GSHP rebates exceed the Energy Star ratings required for the tax credit.
2016 Rebate Report
Total to date: $309,165
Water Heaters: $4,300 (86 units)
Dual Fuel: $4,050 (27 Tons)
GSHP: $261,450 (383 Tons)
Commercial Lighting: $32,065
2008 - 2016 Rebates
Total to date: $3,176,238
Rebates Help Make Efficiency Affordable
Current Times/Rural Missouri March 2016
$3,171,444.00 and counting... More than 3,375 members have received a total of $3,171,444.00 in rebates from Cuivre River Electric since the rebate program began in 2008. Demand savings from Ground Source and Dual Fuel Heat Pump installations range from 7-10 megawatts compared to standard efficiency electric heating options. More than 4,750 tons of high efficiency heating and cooling have been installed.
The overall goal of the Take Control & Save program is improved operating efficiency across the AECI power supply network 24 hours a day. With this goal in mind, rebate parameters are adjusted periodically.
Current Rebates for Residential and Commercial Facilities Include:
$50 Water Heater Rebate for 90%+ efficient standard electric and Heat Pump tank-style water heaters 40 gallon minimum (Tankless units are not eligible).
$750 per Ton Ground Source Heat Pump Rebate for qualifying new installations, 19.1 EER, other conditions also apply. Replacement GSHPs may qualify for $150 per Ton.
50% Insulation Rebate (up to $500 maximum) for insulation when installed in conjunction with a GSHP. A rebate is available for basement, crawl space or slab floor insulation that meets current Energy Star® R-Value recommendations.
$150 per Ton Dual Fuel Heat Pump Rebate for qualifying Air Source Heat Pump systems, 16.5 SEER minimum, installed with a new or existing supplemental gas or propane heating system, other conditions apply.
$150 per Ton Mini-Split Air Source Heat Pump Rebate for qualified systems that meet the same requirements as the current Dual Fuel Heat Pump program. No electric resistant heat is permitted and units must have a minimum 16.5 SEER rating.
Mini-split systems are often installed to heat and cool room additions and previously unconditioned areas.
Business Lighting Rebate
In addition to rebates for both residential and commercial use, a lighting rebate is available for commercial establishments and schools undertaking energy-efficient lighting installations and upgrades. Pre- and post-lighting audits are required. Rebates are based on the amount of energy to be saved per fixture (10-bulb minimum). The amount is capped at $30,000 per year, and cannot exceed 40% of the total capital cost of the lighting equipment.
For more information about Take Control & Save rebates call (800) 392-3709, ext. 4833, 4399, 4732 or 4733.
Federal Tax Credits Continue Through 2016
Tax credits for big-ticket improvements, including ground source heat pumps and both solar and wind energy systems, have a 30% federal tax credit with no upper limit through December 31, 2016.
To obtain details visit www.energysavers.gov or the Internal Revenue Service website. Many items require a written documentation that the item qualifies for a tax credit. To apply for the efficiency credits, use Tax Form #5695.
*Consult with your tax advisor on tax credit limits and qualifications.
For more information on the ENERGY STAR Federal Tax Credits for Energy Efficiency click on the link below.