Utility company offers renewable energy sources
Word cloud for Green Energy
WHAT CONSTITUTES GREEN POWER?
Renewable energy is derived from sources that replenish themselves over a period of time without depleting the Earth’s resources. Examples include wind, solar, geothermal, biomass and hydroelectric.
Launched in January of this year, NIPSCO Green Power is a program that allows the utility’s electric customers to designate some or all of their monthly electric usage to be attributable to renewable energy sources. At the end of February, 81 customers had enrolled in the voluntary program.
How the program works
Residential electric customers can designate 25, 50 or 100 percent of their monthly electric usage. In addition to those options, commercial and industrial customers have the option to designate 5 or 10 percent of their usage. NIPSCO buys Renewable Energy Certificates (RECs) on behalf of participating customers. RECs are the environmental attributes associated with electricity that is generated from renewable sources. A unique serial number is assigned to each REC, and an independent tracking system ensures that the REC is only used once.
NIPSCO Green Power Program RECs are certified through Green-e Energy, the nation’s leading renewable energy certification and verification program. Green-e Energy provides independent, third-party certification to ensure that certified renewable energy meets strict environmental and consumer-protection standards.
How much it costs to participate
Customers who enroll in the Green Power Program will pay a monthly premium of $0.002163 per kilowatt-hour (kWh) in addition to NIPSCO’s standard, regulated electric rate. The added costs are passed through directly to customers, with no mark-up or financial return for NIPSCO. See the chart below for a cost breakdown based on the home with average electric usage.
Participating customers can change participation level or cancel at any time without penalty.
Green Power percentage monthly premium (based on monthly electric usage of 1,000 kWh)
25 percent $.54
50 percent $ 1.08
100 percent $ 2.16
Why support green power?
NIPSCO’s green power purchases through this program will support Midwestern resources. In addition to supporting the state’s goals to promote renewable and homegrown energy, the Green Power Program is in line with NIPSCO’s mission to invest in clean, modern and affordable energy solutions that support Indiana’s long-term economic growth.
“We’re proud to offer residents and businesses in northern Indiana the opportunity to purchase renewable energy,” said NIPSCO CEO Jim Stanley. “The Green Power Program is a great complement to NIPSCO’s other customer offerings, which include electric vehicle incentives, energy-efficiency programs and options that allow customers to generate their own power.”
How to sign up
For more information and to enroll, visit NIPSCO.com/GreenPower or call 1-800-4NIPSCO (464-7726).
Provided by NIPSCO