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Electric utilities

MidAmerican Energy's 2024-2028 Energy Efficiency Plan Aims for Net-Zero Emissions by 2050

Strategic Insights

— 2 min read

MidAmerican Energy, a leading energy provider in Iowa, has outlined a comprehensive five-year plan to achieve net-zero greenhouse gas emissions by 2050. The energy efficiency plan, which will be effective from 2024 to 2028, aims to reduce energy consumption and reliance on fossil fuels, while promoting the use of renewable energy sources. As part of the plan, MidAmerican Energy plans to deliver 100% renewable energy to its customers, with 88.5% of the energy used by Iowa customers coming from renewable sources in 2021.

Key Takeaways:

  • MidAmerican Energy's 2024-2028 Energy Efficiency Plan aims to reach net-zero greenhouse gas emissions by 2050.
  • The plan includes a comprehensive five-year energy efficiency and demand response plan, which will be filed with the Iowa Utilities Board in February 2023.
  • The plan includes robust energy efficiency programming, such as residential home energy assessments, residential equipment incentives, appliance recycling, and commercial and industrial programs.
  • The plan also includes demand response programs, such as SummerSaver and nonresidential load management, which aim to reduce energy use during peak times.
  • MidAmerican Energy plans to deliver 100% renewable energy to its customers, with a goal of exceeding 100% with its Wind PRIME project.
  • Since the start of the current plan, MidAmerican customers have saved over 318 million kilowatt-hours of electricity, 906,600 therms of natural gas, and benefited from over $114 million in energy efficiency programs and rebates.
  • The plan continues to offer energy-efficient solutions as MidAmerican Energy works towards Destination Net Zero, with benefits including the low cost of clean energy, access to programs and rebates that further save money and reduce usage.
  • The Iowa Utilities Board will conduct a contested case proceeding to review MidAmerican Energy's proposal, which may be modified during the review process.
  • Customers can provide input in the review process and may request a consumer comment hearing.

Statistics:

  • 88.5% of energy used by Iowa customers came from renewable sources in 2021 (Source: MidAmerican Energy).
  • Over 318 million kilowatt-hours of electricity and 906,600 therms of natural gas have been saved by MidAmerican customers since the start of the current plan (Source: MidAmerican Energy).
  • Over $114 million in energy efficiency programs and rebates have been offered to MidAmerican customers since the start of the current plan (Source: MidAmerican Energy).
  • 54% of residential customers will see a 123% increase in energy efficiency cost recovery (Source: MidAmerican Energy).
  • 6% of nonresidential customers will see a 54% increase in energy efficiency cost recovery (Source: MidAmerican Energy).
  • 54% of residential customers will see a 9% increase in natural gas energy efficiency cost recovery (Source: MidAmerican Energy).
  • 6% of nonresidential customers will see a 160% increase in natural gas energy efficiency cost recovery (Source: MidAmerican Energy).

Sources:

  • MidAmerican Energy: "2024-2028 Energy Efficiency Plan" (Revision 1)
  • Iowa Utilities Board: "Customer Notice and Proof of Mailing" (February 20, 2023, EEP-2022-0156)
  • MidAmerican Energy: "Residential Home Energy Assessments"
  • MidAmerican Energy: "Residential Equipment Incentives"
  • MidAmerican Energy: "Appliance Recycling"
  • MidAmerican Energy: "Commercial and Industrial Programs"
  • MidAmerican Energy: "Demand Response Programs"
  • Iowa Utilities Board: "Iowa Utilities Board Website"

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