Moving Forward in 2024
As we move into a new year, the Board and I have laid out several goals to strive for over the coming years. While some of these items are already taking place, others are longer term plans. This month, I would like to highlight two areas that we are working on.
Grant Opportunities – Over the past year, we have monitored several grant programs, watching for opportunities that would benefit our Co-op. In January, we were presented with one that made sense for us to pursue. In conjunction with our power supplier, East River Electric Cooperative, along with several other Cooperatives and Municipalities in the region, we are applying for funds through the Department of Energy to “harden” the substations that serve Union County Electric. This will include upgrading our line protection devices, adding more physical security, enhancing cyber security and communications, and installing wildlife mitigation devices.
We are also looking at an opportunity to install a solar array, and possibly a battery backup system at our headquarters. If successful, this grant would award 50% of the cost through the United States Department of Agriculture, and we would be eligible to receive a direct payment of the associated federal tax credit, worth 30% of the investment. Without these funds reducing the initial investment cost, we would not be comfortable with our return on investment for this project.
If we are awarded any of these funds, I will provide more information and details in a future column.
Beneficial Electrification – Beneficial electrification refers to the strategic shift towards using electricity to power various energy-consuming equipment. This shift benefits the user by saving them money, providing a better experience with more capabilities. Since the equipment utilizes electricity, it also benefits the Co-op and our members. In late 2023, the Board of Directors approved the purchase of a Tesla Model Y vehicle. This is something we have looked at for several years and acted when there was a price decrease, and we were able to take advantage of some tax incentives. We estimate that this vehicle will save the Co-op approximately $5,500 per year in fuel cost when employees utilize it to go to meetings, attend training, or do light duty jobs.
We are also purchasing an electric snow blower and electric zero turn mower to help maintain our office. This will allow us to learn more about electric vehicles and common household equipment so we can answer your questions better. Additionally, we will make the Tesla available to members for test drives, so you can have a hands-on experience before deciding if these vehicles are right for you.
If anyone is interested in learning more about the grant projects, beneficial electrification, or wishes to take the Tesla for a spin, please reach out to me.
Until next month, stay safe and God bless.
Quote of the Month: “Success, like happiness, can not be pursued. It comes only as a result of dedication” – Viktor Frankl – Psychiatrist / Holocaust Survivor