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Solar vs. grid power: how much can you save?
Electricity rates are on the rise. The U.S Energy Information Administration (EIA) estimates that electricity prices in the U.S. rose 6.2% in 2023 alone.
Homeowners across the country are looking for ways to reduce their energy costs and many are turning to solar energy. But just how much can you save with solar and is it worth the investment?
Solar customers can often save tens of thousands of dollars over the lifespan of their solar system. To determine exactly how much you can save, you’ll have to do a little math.
Compare your current cost per kW from MidAmerican Energy Co with the cost per kW of your solar system. Then calculate your monthly or yearly expenses across a 25-year period. Finally, subtract your total cost of energy with solar from your total of energy from the grid to determine your savings
A simpler way to estimate your savings potential is to compare your current monthly energy costs with your projected solar payments. If your energy costs are higher than your solar payments, there is a good chance you will see savings.
At Solar Cost Calculator, we suggest that anybody paying more than $100 a month for electricity should consider solar.
What solar incentives MidAmerican Energy Co does offer?
Category : Financial Incentive
Website : https://www.midamericanenergy.com/il-ee-rebates
Applicable Sectors : Residential
Incentive Amount : Rebates Programmable Thermostat: up to $100/unit Discounts Air-Source Heat Pump: $225 - $375unit Central Air Conditioners: $150 - $300/unit Central Air Conditioners (large): $90/ton Desuperheater: $112.50/unit Ductless Split Heat Pumps: $300/unit Geothermal Heat Pumps: $900 - $1200/unit Heat Pump Water Heaters: $225/unit Natural Gas Furnace: $1.80/BTU
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.midamericanenergy.com/il-business-rebates
Applicable Sectors : Commercial, Construction, Industrial, Nonprofit, Schools, Federal Government, Agricultural, Institutional
Incentive Amount : Commercial New Construction Incentives vary, see program for details Curtailment Program Incentives vary, see program for details Data Center Advantage Electric: $0.12/kWh Natural Gas: $1.50/therm See program for further details Heating and Cooling Equipment Air-Source Heat Pump: $225 - $600/unit Central A/C (Small): $75 - $300/unit Chillers: $15 - $100/ton Natural Gas Boilers: Up to $6.50/MBtuh Natural Gas Furnace: $175/unit Lighting for Business Customers in Illinois Rebates vary; see application for more details. Direct Project Assistance Electric: $0.12 - $0.18/kWh Natural Gas: $1.50/therm See program for further details
Implementing Sector : Utility
Category : Regulatory Policy
Website : https://iub.iowa.gov/regulated-industries/electric/site-distributed-generation
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount :
Implementing Sector : State
Category : Financial Incentive
Website : https://www.midamericanenergy.com/ia-ee-rebates
Applicable Sectors : Residential
Incentive Amount : Discounts Natural Gas Furnaces: $60 – $213/unit Central A/C: $101 – $412/unit Rebates Air Source Heat Pump: $400 - $600/unit Ductless Mini-Split Heat Pump: $100 - $300/ton Smart Thermostats: up to $75/unit Refrigerator/Freezer Recycling: $50/unit SummerSaver Peak Demand Reduction Program: $30 bill credit annually.
Implementing Sector : Utility
Category : Financial Incentive
Website : https://www.midamericanenergy.com/IA-EE-Business
Applicable Sectors : Commercial, Construction, Industrial, Local Government, Nonprofit, State Government, Federal Government, Agricultural
Incentive Amount : Small Business Express See Reference Sheet for complete information Rebates are available for the categories below. Lighting Heating, Cooling And Ventilation Commercial Refrigeration and Kitchen Process Compressed Air Direct Project Assistance Electric: $0.12-$0.18/kWh Natural Gas: $1.50/therm
Implementing Sector : Utility
Net metering with MidAmerican Energy Co
Category : Regulatory Policy
Website : https://iub.iowa.gov/regulated-industries/electric/site-distributed-generation
Applicable Sectors : Commercial, Industrial, Residential
Incentive Amount :
Implementing Sector : State
Installing and connecting your solar system
When you install a solar system in MidAmerican Energy Co territory, these are steps you can expect to go through:
Once you’ve hired a contractor, you will need to communicate with MidAmerican Energy Co to prepare the interconnection paper. Your contractor will handle most of these responsibilities
After the interconnection agreement has been finalized, your contractor can begin the installation process.
Once your system is installed, it needs to be inspected for safety and code compliance.
After the final inspection, you will receive a written notice within a few days that your system is approved to operate. You can turn on the system yourself or you can contact your installer for further assistance.
Most homeowners prefer to do it themselves. The whole process should only take 10 - 15 minutes.
Is solar worth it for MidAmerican Energy Co customers?
The short and sweet answer is a resounding YES. Going solar is definitely worth it for MidAmerican Energy Co customers. The average homeowner in _UtilityCompanyName_ can save an estimated #### over the lifespan of their solar system.
Going solar is a long game so you need to think several years ahead. It can take a few years to hit your break even period. But between net metering and solar incentives, you can drastically reduce that timeframe.
Want to get an idea for what it will cost you to go solar with MidAmerican Energy Co? You can use our Solar Cost Calculator to generate a customized estimate instantly. We take into consideration a wide range of criteria including location, electric bill, roof size, and other factors. Try it out today and start planning for your future.
