Federated offers incentives on electric vehicles:
1. Residential Time Of Use Electric Rate
2. Level 2 Charger Installation Rebate up to $500.
3. Revolt green energy credits.
Time of Use Rate Residential
|Super off-peak||Midnight to 4 a.m.||5 cents/kWh|
|Off-peak||4 a.m. to 8 a.m. & 8 p.m. to midnight||7.3 cents/kWh|
|On-peak||8 a.m. to 8 p.m.||11 cents/kWH|
Federated is also introducing a new optional Residential Time-of-Use rate that can be used as an electric vehicle (EV) charging rate with three rate components. If you prefer a TOU rate, this is a great option for anyone who wishes to charge an electric vehicle; the whole home would use this rate. The rate will range from 11 cents on peak; 7.3 cents off peak and a super off peak at 5 cents. The service charge for this rate class is $35/month. Members enrolled in the TOU rate are not eligible for Federated’s money-saving load management programs. If enrolling in TOU, the member commits to a year on this rate. Click on the form link below to sign up (Email, fax or mail back to Federated).
Level 2 Installation Charger
Follow this link to buy a charger. You will need to click on "start shopping" and then create an account. If you buy a charger on this website, the $500 rebate is automatically deducted from the purchase price. You do not need to fill out Federated’s rebate form.
ChargeWise is a voluntary program offered by your electric cooperative for members with a qualifying hardwired, Level 2 electric vehicle supply equipment (EVSE). The qualifying EVSE must be enrolled in Federated's residential EV time of use (TOU) rate. Your electric cooperative will pay for up to $500 of the installation/purchase of the EV Level 2 Charger cost. Use this rebate form, if you do NOT purchase your level 2 charger through our website store.
Power your electric vehicle with 100 percent wind energy, for the lifetime of that vehicle, at no extra cost. You’ll still have to pay for the energy you use, but you’ll be able to do so knowing that when you go electric, you’ll always be going green. Energy comes from all kinds of sources: wind, natural gas, coal and so on. Once it hits the power grid, there’s no way of telling where it came from. However, with renewable energy, a renewable energy credit (REC) is created that embodies all the environmental benefits of that energy from Federated's Welcome wind tower. Click here to learn more about the Revolt Program.
Enrolling is easy. 1) Buy or lease a plug-in electric vehicle or plug-in hybrid electric vehicle. If you already have one, skip to step two. 2) Click on, fill out and submit this Revolt enrollment form.
A federal income tax credit up to $7,500 may be available for the purchase of a qualifying electric vehicle. The minimum credit amount is $2,500, and the credit may be up to $7,500, based on each vehicle's battery capacity and the gross vehicle weight rating. Your eligibility depends on your personal tax situation. Speak with a tax professional for guidance and the car dealership.
Is an electric vehicle (EV) for me?
An all-electric EV might NOT be right for you at this time if...
• If you commute 300+ miles per day.
• If you do not have off-street parking, it may be difficult to charge your EV at home.
• If you regularly take long road trips, EV charging may not be convenient. Note, battery electric vehicles (BEV) have ranges from 80 to more than 300 miles per charge, which is similar to the range of some gas-fueled cars.
BUT, keep in mind, EV range is steadily increasing every year, and there is probably a Plug-in Hybrid Electric Vehicle (PHEV) that would be a good fit for you. While PHEVs still use gasoline and require oil changes, many models have an all-electric range that will meet your daily commuting mileage needs.
Go to https://www.energywisemn.com/electric-vehicles to learn more about EV cars. You will even find an EV Calculator that allows you to enter various factors like range, cost, manufacturer, battery capacity and price, plus a map of EV charging stations.