Lake Region Electric Cooperative
Planning for Success in our Rapidly Changing Energy Environment
The energy world is changing and changing quickly. Electric utilities are maneuvering in a world of regional energy markets, increased regulation, and revolutionary new technologies. The generation side of our industry is also in a rapid transition from coal to natural gas and renewable generation resources. Even as individual consumers, we face a wide array of choices in how to heat, cool, and light our homes. Should we choose dual fuel, electric thermal storage (ETS), geothermal, or a fossil fuel heating system? What about purchasing a new high efficiency air source heat pump (ASHP) instead of a central air conditioner? Should we consider some type of renewable energy system someday? The bottom line is we all want to make the right decision. I believe the key to success is for the co-op and its members to partner and work together to secure our common energy future to the benefit of all.
Partnering for Success
How might we partner to secure low cost, reliable energy? In the current electric utility business model, generation is ramped up and down in response to consumer demand for electricity. In the future, with a higher proportion of electricity coming from intermittent wind and solar resources, households will use and store energy when it is most plentiful and economic. LREC currently offers a great rate value for a very effective method of storing off-peak and renewable energy. We call it ETS or electric thermal storage and these space and water heating systems benefit members and the co-op alike. As your energy partner, we will facilitate the delivery of off-peak and renewable energy to your home and we’ll provide the technical assistance, rebates, and EASY-PAY plan to help you install the storage system.
ETS—Electric Thermal Storage
As more wind and solar generated electricity comes on line, economically priced electricity may be available at various times in the day. ETS water heaters and Steffes furnaces can utilize that intermittent electricity and store it as thermal energy for use when you need it. In the very near future, we’ll partner to make that possible by “grid interconnecting” your water heater or Steffes furnace. For example, utilizing your home’s broadband internet connection, your water heater will communicate with our energy management platform and will be instructed when to heat water in the tank. You benefit with more hot water at the best possible rate and with no worry about running out. LREC benefits by better utilization of our distribution system and its grid access to economically priced energy.
LREC offers ETS home and water heating products, special rates, rebates, and payment plans. New high efficiency air source heat pumps, in combination with a Steffes ETS furnace, provide increased efficiency and low operating costs with the highest level of comfort. LREC’s ETS rate for space and water heating is 4.4¢ per kWh and has not changed since 2008.
Electric thermal storage and grid interconnection is just one example of how the co-op and its members can partner to secure our energy future. There are partnership opportunities that can be built around other technologies and I’ll write about them in future columns.
Tim Thompson, CEO