PUCO OKs FirstEnergy Smart Thermostat Rebate Program
Posted onOhio Debates Energy Efficiency Programs
Many OH energy customers are searching for ways to save energy and cut down their bills. But it's not always easy to cut costs, especially with rising electricity rates. Worse now is that Ohio lawmakers killed off energy efficiency programs as part of HB 6 in 2019. However, PUCO has approved a FirstEnergy Smart Thermostat Rebate program that could lead to big savings. Let's talk about this new rebate program and how you can take advantage.
Why Lawmakers Killed HB79
House Bill 79 (HB79) was meant to let Ohio utilities run energy efficiency programs. This would include rebate offers for installing energy efficient appliances. As a result, home energy usage would fall and customer bills would drop as well. But while great for energy customers, lower usage meant less profit for utilities. Part of HB79 would have clawed back this "lost distribution revenue" through a $1.50 charge on all customer bills.
While HB79 passed the House, the Ohio Senate removed it from its voting schedule at the last minute. Lawmakers declined to comment about why HB79 was killed. Still, some critics point out sticking problems wit the bill. For example, customers have to opt-out of the program rather than opt-in. Also, since renters are not likely to buy new appliances, they wouldn't benefit from the program. They would pay the extra charge, unless they knew how to opt-out..
FirstEnergy Rebate Details
Interestingly enough, on the same day, PUCO approved the FirstEnergy Electric Security Plan. This plan authorizes the utility to fund energy programs including bill assistance for low-income homes, and electric vehicle education programs. But the big news here is it includes a smart thermostat rebate program.
This program, like one begun by AEP Ohio, gives a $100 rebate to homes that buy a smart thermostat. Low-income families, meanwhile, can receive a rebate of up to $150 for a qualifying smart thermostat.
Should You Buy A Smart Thermostat
EIA estimates that Ohio uses an average of 811 kilowatt-hours (kWh) of energy per month. On average, over half of that energy is used for heating and cooling. This means over 400 kWh of power is used just to stay comfortable throughout the year. So, Toledo Edison customers pay about $32 on the supply portion of their bill, just for heating and cooling. But you can easily save up to 10% on your annual utility bills by using less energy. Simply turn down your heat 7-10 degrees for 8 hours every day.
Obviously, this isn't easy with old-fashioned thermostats. But smart thermostats help you set a schedule to dial down the heat while you're at work or asleep.
Most smart thermostats could run you anywhere from $25-$250. Professional installation will, of course, cost extra. But if you're handy, you could install it yourself. All the same, a FirstEnergy rebate can knock off 50% of the smart thermostat's cost. This lets you benefit from energy savings sooner.
Save Money With Rebate Programs
FirstEnergy customers can use this new rebate program to cut their electric bills. They can also save money by shopping for the best energy deals in town, right here on https://www.ohenergyratings.com. We also report on the news that could affect your bills.
