Wiktor Wise
Farmers' Electric Cooperative (FEC) is a nonprofit electric utility that serves ten counties in North Missouri. FEC offers its members various incentives, rebates, and discounts. For instance, members who set up bank auto-pay or opt for electronic billing receive a 50-cent monthly bill credit. Additionally, FEC provides money-saving rebates to help members create more energy-efficient homes. This includes rebates for electric appliances, water heaters, and heat pumps. While FEC does not offer Net Metering for new solar system installations, it does compensate members for excess electricity sent back to the grid through a credit system. This credit is based on the avoided cost, which is the amount FEC would have paid for the energy in the normal course of business.
| Characteristics | Values |
|---|---|
| Discounts for solar | Farmers Electric Cooperative does not offer Net Metering to members installing a new solar system |
| Farmers EC compensates members for excess electricity sent to the grid, but it is limited to the amount Farmers EC would have paid for that electricity | |
| Farmers EC does not maintain a list of recommended installers but does maintain a list of all solar installers who have successfully built and interconnected systems to their grid | |
| Other discounts | Members who set up bank auto-pay will receive a 50-cent monthly bill credit |
| Members who receive their bill electronically (by email instead of regular mail) will receive a 50-cent monthly bill credit | |
| Farmers Electric Cooperative offers rebate programs for purchasing certain electric appliances | |
| Farmers Electric Cooperative offers a 50/50 cost-shared incentive for Cooperative Members installing basement insulation in conjunction with the installation of a new ground source heat pump | |
| Residential and commercial Members are eligible for a rebate of 50% of the total cost of the Level 2 charger and installation, up to $250 | |
| Farmers Electric Cooperative is a nonprofit electric utility that allocates extra money to Member-Owners in the form of capital credits |
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What You'll Learn
- Farmers Electric Cooperative offers rebates to members for energy efficiency
- Members are compensated for excess electricity sent to the grid
- Farmers EC does not offer Net Metering for new solar installations
- Distributed Renewable Generation (DRG) offers tax incentives and other benefits
- Members can receive capital credits if FEC makes more money than needed
Farmers Electric Cooperative offers rebates to members for energy efficiency
Farmers Electric Cooperative is a nonprofit electric utility that provides its members with money-saving rebates to help create more energy-efficient homes. These rebates are offered for purchasing certain electric appliances that meet specific efficiency standards, such as electric water heaters, heat pumps, and central air conditioners. Members can also take advantage of incentives for installing basement insulation and Level 2 electric vehicle chargers.
In addition to these rebates, Farmers EC offers credits for excess electricity generated by solar arrays that are sent back to the grid. While Farmers EC does not offer Net Metering, it compensates members for the excess electricity at the "avoided cost" rate, which is the amount they would have otherwise paid for that energy. This rate is currently around $0.06 per kWh and appears on bills under "DG AVOIDED COST."
The cooperative also supports renewable generation, or Distributed Renewable Generation (DRG), which allows members using alternative power sources to receive tax incentives and other benefits. Members interested in solar power can refer to the FAQ section on the Farmers EC website, which provides information on solar installers who have successfully interconnected systems to their grid.
Farmers Electric Cooperative serves residents in ten North Missouri counties, including Caldwell, Carroll, Chariton, Clinton, Daviess, Dekalb, Harrison, Livingston, Linn, and Ray. They provide various payment methods and options, including credits for members who set up bank auto-pay or receive their bills electronically.
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Members are compensated for excess electricity sent to the grid
Farmers Electric Cooperative (FEC) is a nonprofit electric utility and member-owned business that provides rural electric service to residents in ten North Missouri counties.
FEC offers its members compensation for excess electricity sent to the grid. This is known as Net Metering, where a 1:1 credit is created for each kWh sent back to the grid. At the end of the billing cycle, the number of kWhs delivered by the utility is reduced by the total amount of kWhs sent back. However, it's important to note that Farmers EC does not offer Net Metering to members installing a new solar system. Instead, under the Farmers EC rate program, members are compensated for the excess electricity fed into the grid but limited to the amount Farmers EC would have paid for that electricity through regular channels.
The current rate for this compensation is around $0.06 per kWh, and it will appear on your bill under "BILLING SUMMARY" as "DG AVOIDED COST." This amount reflects the "avoided cost," or the sum Farmers EC would typically pay for energy in their standard operations.
Additionally, FEC provides various incentives and benefits for members adopting renewable energy sources, such as solar power. FEC offers a $500 application fee for those interested in installing a solar/DRG system. FEC also provides a list of solar installers who have successfully interconnected systems to their grid upon request.
FEC also offers other benefits to its members, such as rebates for purchasing certain electric appliances, capital credits based on membership duration and energy purchases, and discounts through the Co-op Connections Card.
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Farmers EC does not offer Net Metering for new solar installations
Farmers' Electric Cooperative (FEC) is a nonprofit electric utility that serves residents in ten North Missouri counties. They offer a range of incentives and rebates to their members, including for the purchase of certain electric appliances and energy-efficient products.
While FEC does not offer Net Metering for new solar installations, they do provide compensation for excess electricity sent back to the grid. This compensation is based on the "avoided cost," which is the amount FEC would have paid for the energy in their normal course of business. Currently, the rate is around $0.06 per kWh, and this will appear on bills under "BILLING SUMMARY" as "DG AVOIDED COST."
Net Metering refers to the way an electric utility compensates for excess electricity pushed back to the grid from a solar array. Under Net Metering, a 1:1 credit is created for each kWh sent back to the grid, and this reduces the total number of kWhs delivered by the utility at the end of the billing cycle. While FEC does not offer this 1:1 credit system, they do provide other benefits to members with solar installations.
For those with solar power, FEC advises getting a referral from a trusted source and asking potential installers for a list of previous and ongoing customers who can provide feedback on their experiences. FEC maintains a list of all solar installers who have successfully interconnected systems to their grid, which they can provide to members.
FEC offers various other incentives and rebates to its members, including for electric water heaters, new home construction, and the installation of basement insulation. They also provide a range of payment methods and assistance for those experiencing financial hardship.
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Distributed Renewable Generation (DRG) offers tax incentives and other benefits
Farmers Electric Cooperative (EC) offers rebates to its members to help them create more energy-efficient homes. They also offer Distributed Renewable Generation (DRG), which allows members who use alternative power sources to receive tax incentives and other benefits.
DRG is a term used when electricity is generated from sources, often renewable energy sources, near the point of use instead of centralized generation sources from power plants. State and local governments can implement policies and programs to help overcome market and regulatory barriers to implementation. For example, state net metering policies allow customers to produce onsite electricity and sell excess generation to the utility at a set price. This creates an incentive for private investment in distributed renewable energy technologies by providing value to electricity generation that exceeds demand at certain times.
Farmers EC does not offer Net Metering to members installing a new solar system. Instead, they compensate members for the excess electricity sent to the grid, limited to the amount Farmers EC would have paid for that electricity normally. This is currently around $0.06 per kWh and will appear on your bill as "DG AVOIDED COST."
DRG offers tax incentives and other benefits to those using alternative power sources. Third-party ownership models, such as solar leases or residential power purchase agreements, can access more tax incentives than homeowners, reducing the upfront costs of a photovoltaic (PV) system. These third-party models are attractive alternatives to direct ownership of a residential PV system. There are also federal solar tax credits that can subsidize the cost of a solar system by up to 30%.
Before installing a solar/DRG system, members must submit a $500 application fee and an Interconnection Agreement to Farmers EC.
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Members can receive capital credits if FEC makes more money than needed
Farmers Electric Cooperative (FEC) provides its members with money-saving rebates to help create more energy-efficient homes. FEC also offers rebates for purchasing certain electric appliances.
FEC is a nonprofit electric utility. If FEC makes more money than is required for operating expenses, capital improvements, and cash reserves, the excess money is allocated to its Member-Owners in the form of capital credits. The amount of capital credit refund a member receives depends on the length of time they have been served by the Cooperative and the amount of energy the member has purchased in a given period. The Board of Directors decides how much and which years' capital credits will be paid. Capital credit checks are mailed out annually in early December. It is important for members to keep their addresses updated with FEC so that they can receive their capital credit checks. If a member passes away, Farmers' Electric will pay a lump sum of that member's capital credits to the heirs of their estate.
FEC also offers a rebate program for its members. For instance, members are eligible for a rebate of 50% of the total cost of a Level 2 charger and installation, up to $250. FEC also offers rebates for electric water heaters that meet DOE standards and for the replacement of existing electric heaters or gas water heaters.
FEC provides various payment methods for its members, including credit card and monthly recurring payments. Members can also set up automatic payments through their Smart Hub accounts. Additionally, FEC offers a $0.50 monthly bill credit for those who set up bank auto-pay or receive their bills electronically.
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Frequently asked questions
Farmers Electric does not offer Net Metering to members installing a new solar system. However, they do pay members for the extra electricity they don't use, which is sent back to the grid as credit for the "avoided cost".
The "avoided cost" is the amount Farmers EC would have paid for the energy in their normal course of business. The current rate is around $0.06 per kWh, which will show up under "BILLING SUMMARY" on your bill as "DG AVOIDED COST".
Farmers Electric offers several rebate programs for purchasing certain electric appliances, such as electric water heaters and heat pumps, that meet energy efficiency standards. They also offer a 50/50 cost-shared incentive for Cooperative Members installing basement insulation with a new ground source heat pump.
You can find information on the rebate application process on the Farmers Electric website or by contacting their Energy Services Department.
Yes, Farmers Electric offers a few ways to save on your bill. Members who set up bank auto-pay or sign up for electronic billing will receive a 50-cent monthly bill credit. They also offer Budget Billing to those who qualify, which calculates your 12-month energy average and adjusts your budget amount annually based on your usage and true balance.
