Inland Power is my cooperative!
September 2019
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10110 W Hallett Rd. Spokane, WA 99224 MAIN OFFICE
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Capital Credits
inside...
Saying goodbye to gas
Energy September is EV Month
Returning money to you!
Y
ou own Inland Power, which operates on a not-for-profit basis as a cooperative.
Our sole purpose is to deliver safe and reliable power to you at cost. All revenue exceeding the cost to provide electric service is allocated back to you in the form of capital credits. Once allocated, your capital credits are held by the cooperative as a resource to replace aging infrastructure, maintain reliability and operate your cooperative. This system keeps your rates low and your service reliable. The amount of capital credits you are allocated each year is based on how much electricity you used during the previous year. In time, you will receive all your allocated capital credits. The cooperative’s board of trustees retires capital credits when finances allow, generally on an annual basis. Portions of all vintage years are retired each fall and may take up to 35 years to return all vintage year (prior to 2018) allocations to you. Starting in 2017, the board of trustees voted to allow members to receive their capital credit allocation payment early, but it must be equitable with those who wait for up to 35 years. In other words, $1 today is not the same as it will be 35 years from now. Therefore, any early payment must be discounted or reduced to a level that makes it equivalent to those members on a 35-year capital credit rotation.
Beginning with your 2018 allocation, the board of trustees voted to return all immediate prior year returns to the members at the discounted method that is equivalent to a 35-year rotation. The discounted capital credit payout will be applied as a credit to your November bill. Any member who wishes to opt-out of the discounted payout program may submit their request by Sept. 30 by returning the “Opt-Out Stub” found on our website at inlandpower.com, or call our member services department to have one mailed to you. By switching to the discounted payout method, members can participate in the benefit of being a cooperative member without having to wait 35 years for the full benefit. For those members who have unpaid capital credits from years prior to 2018, or who opt-out of the discounted program and have current year capital credits, their capital credits will continue to be retired at the regular interval and paid to you as the board of trustees approves the payments every year. Please continue to look for your capital credit checks from vintage years prior to 2018 which are typically mailed each December. If you have any questions, please visit inlandpower.com or call our member services department at (509) 789-4277.
Your Cooperative Returning money to you via capital credits EV Charging Is your home EV ready?
Inland Power’s Todd Williams (L) and Chris Cable (R) stand outside of Inland Power’s office with their EVs.
E
lectric vehicles (EVs) are the latest trend of the auto world, with many auto manufacturers offering at least one model, and many committing to move all their models to electric in the future. EVs provide environmental advantages and, even though they may carry a higher price tag initially, tax credits and lower operating costs often balance out the initial investment. Inland Power’s energy services specialist Todd Williams drives a 2015 Fiat 500e and said he only has to add washer fluid when it comes to maintenance. “I may never have to replace brake pads ever in this car,” Williams said. “I only use actual brake pads from eight miles an hour, down to zero.” When a driver of an EV takes their foot off the accelerator, the regenerative system temporarily converts the electric motor that powers the car into a generator, which then
converts the kinetic energy of the car’s forward momentum back into electricity and feeds it into the battery pack. This is experienced from behind the wheel as the car decelerates as if the driver had shifted into a lower gear or braked moderately. While many drawbacks of EVs are gone, there is still a major concern surrounding range anxiety. This stems from the persistent limited range of all EVs. While Tesla provides 270 miles for their all-wheel drive model and 355 miles on their standard models, that pales in comparison to most internal combustion cars. Fortunately, advances in battery technology are hammering away at the range issue. Range is steadily expanding, and battery management systems are squeezing out more miles. At the same time, more companies are installing efficient charging stations at their places of business and in popular public locations.
As for power and speed of an EV, Inland Power’s IT and member experience director, Chris Cable said his Fiat 500e has more ‘get up and go’ than his traditional car with an internal combustion engine. “Until you drive an EV you don’t realize the amount of power it has,” Cable said. “It is instant torque to the ground. You hear about the Teslas and how fast they are, but even a little car like this will blow most cars off the line if you are sitting at a stop light.” Both Cable and Williams agree that their EVs have no issues driving in adverse weather conditions. “We’ve had quite a bit of rain for this area recently,” Cable said. “The EV plowed right through big puddles that came above the base of the car.” “My car handles the snow with no issues,” Williams said. “It has a very low center of gravity.” Continued inside
OUR (EV Continued)
mission
IS OUR
members.
– M I S S I O N S TAT E M E N T
Get your home EV ready
Inland Power board member David Shill also drives an EV.
Most charging occurs at home. Are you ready?
“We chose the Chevy Bolt,” Shill said. “It has all the cool features of most new cars but the added benefit of not using fossil fuel.”
E
lectric vehicles (EV) help lower emissions and fuel costs, improve fuel economy, and bolster energy security. Considering the volatility of gas prices— and their general skyward trajectory— electric cars show promise as an economic alternative.
Shill said his bolt has a 238-mile range and runs on a motor with 200 horsepower. The Fiat 500e averages an 110-mile range and runs on motor with 111 horsepower. EV Tax Exemption
But switching to an EV entails more than new driving habits and a conversation piece with strangers. It is also a lifestyle update.
Those who purchase new or used clean alternative fuel or plug-in hybrid vehicles are now eligible for a sales and use tax exemptions, according to a news release from the state Department of Revenue. From Aug. 1, 2019 to July 31, 2020, buyers can get sales tax exemptions on up to $25,000 on the purchase of a new car. That number decreases to $20,000 in 2021, and $15,000 in 2023. For used cars, the sales tax is exempt up to $16,000 in value. Those buying new or used vehicles exclusively powered by clean alternative fuel, or plug-in hybrids that can travel at least 30 miles on battery power alone, qualify for the exemptions. The cost of new vehicles can’t exceed $45,000 while used vehicles can’t exceed $30,000 before trade-in to qualify. For more information about the exemption, visit www.dor.wa.gov.
Here is a look at some of the top-rated EVs in the U.S. (Before rebates and tax exemptions/credits)
Tesla Model S
Price $74,500
Range* 259 miles
Chevrolet Bolt EV
$36,620
238 miles
Tesla Model X
$79,500
237 miles
Nissan Leaf
$29,990
151 miles
Volkswagen e-Golf
$30,495
125 miles
Hyundai Ioniq EV
$29,500
124 miles
BMW i3
$44,450
114 miles
Kia Soul EV
$33,950
111 miles
Fiat 500e
$34,240
110 miles
* Range for each vehicle is based on manufacturer data.
Your Co-op Connection | Getting to know who works for you
C
onnie Nelson has been with Inland Power since 1987. Prior to her current role at Inland Power, Connie worked in Inland’s member services and engineering departments. In her role as real estate specialist, Connie’s primary job is working with easements to ensure they are recordable and accurate. She also researches easements for system improvements and capital projects.
From setting up a charging station in the garage to maintaining optimal temperatures therein, check out these useful garage preparation tips to assure your electric vehicle battery is in tip-top shape. The “charger” you are installing is technically referred to as Electric Vehicle Service Equipment (EVSE). This is the wall-mounted box with cord and plug that delivers electricity and functions as a communication and safety unit for the actual charger situated inside the vehicle. The EVSE ensures the battery doesn’t overheat and shuts the charging session down if there is a short circuit, power surge, or any other type of faulty hardware. If you have opted for a Level 2 EVSE, you will likely need to reach out to a professional electrician to wire equipment and determine where the EVSE should be situated in regards to where your vehicle is parked. Notwithstanding factors like outdated wiring, meters, and breaker
panels, updating any garage for your electric ride should actually be pretty straightforward. In rare instances, old wiring may need to be replaced. But by and large, the process is fairly easy and uncomplicated. What’s more, the plug itself is not any more difficult to install than a standard dryer outlet. Cost of Installation Installation costs generally hinges on the work involved—such as the amount of wire that needs to be run, whether additional or replacement breaker panels are necessary, and the cost of labor in your area. This could vary between just a few hundred dollars to a couple thousand. Inland Power EV rebate Inland Power offers a $300 incentive for active members who choose to purchase an EV and install a 240v level 2 charger at their home. Simply fill out and submit an incentive form that can be found on our website at inlandpower.com. Be sure to include the purchase receipt for your charger, a photo of the installed charger and a copy of your EV’s registration. For more information regarding EVs and the incentives, check out Inland Power’s EV portion of our website–inlandpower.com/ residential/incentives-rebates, or call our energy efficiency and conservation team at (509) 789-1801.
“Inland Power and Light employees are family and friends,” Connie said. “We have seen each other through the good and the rough times. The one constant is we pull together when needed.”
Connie Nelson
Real Estate Specialist
In her spare time, Connie and her husband work on remodeling their home, a task they’ve worked on for the last decade. They also enjoy their season tickets to WSU and Gonzaga women’s basketball games. Connie likes going to see Broadway musicals downtown as well.
VISIT INLANDPOWER.COM FOR MORE ENERGY EFFICIENCY TIPS
Public EV Charging Not all chargers are created equal There are three main types of EV charging – rapid, fast and slow. These represent the power outputs, and therefore charging speeds, available to charge an EV. Note that power is measured in kilowatts (kW). Level 3 are one of two types – AC or DC [Alternating or Direct Current]. Current Rapid AC chargers are rated at 43 kW, while most Rapid DC units are at least 50 kW. Both will charge the majority of EVs to 80 percent in around 30-60 minutes (depending on battery capacity). Level 2 provide power from 7 kW to 22 kW, which typically fully charge an EV in 3-4 hours. Level 1 (up to 3 kW) are best used for overnight charging and usually take between 6 and 12 hours for a pure-EV, or 2-4 hours for a plug-in hybrid EV. Charging in public While most EV charging events are conducted at home or at work, public charging networks provide additional charging support, and the opportunity to extend journey distances in EV mode. Most networks offer a mix of slow, fast and rapid charging options. For more information about EV public charging, including charging locations, visit wsdot.wa.gov.