News > A Year of Savings with Innovative Energy Solutions – Electric Forklifts

A Year of Savings with Innovative Energy Solutions – Electric Forklifts

May 2023

Throughout 2023, Stearns Electric will be featuring residential, commercial, industrial and agricultural EnergyWise programs, rebates and other cost and energy saving features in our Year of Savings with Innovative Energy Solutions. In May we are featuring member Fingerhut and Electric Forklifts.

Member Interview

FINGERHUT
Member since 1989
Upgraded Electric Forklift fleet in 2021

WHY DID YOU PURCHASE A NEW FLEET OF ELECTRIC FORKLIFTS?
The energy savings of new electric forklifts was a big reason why we purchased them, but also the aspect of fleet management was important from efficiency, run time, operator use and the obsolescence of previous equipment.

WHAT HAS BEEN THE BIGGEST BENEFIT?
Two of the biggest benefits tie directly to our employees: Safety, including comfort of the forklifts for less employee fatigue and quieter running, as well as better work practices as the new forklifts require less time charging, fixing, less maintenance and better reliability.

ARE THERE ANY INCONVENIENCES OF USING AN ALL-ELECTRIC FORKLIFT FLEET?
No. The operating costs and maintenance intervals are much less than fossil-fueled forklifts, plus there is no need to store fossil fuels on site.

HOW MUCH DID YOU RECEIVE IN REBATES?
We received a $2,000 rebate for each forklift added to the fleet.

HOW MUCH MONEY HAVE YOU SAVED?
In comparison to a typical fossil fuel-powered forklift, an electric forklift saves us between $3,000-$4,500 annually, per forklift.

HOW MUCH ENERGY HAVE YOU SAVED?
Our electric forklift upgrades, along with the LED lighting retrofits we completed during the same time frame, has reduced our kWh energy usage by 20% year over year.

Electric Forklift

The EnergyWise Electric Forklift Rebates are for businesses that make the change from internal combustion engine forklifts to electric, electric fleet addition (new or refurbished) and electric to electric fleet retention. Qualifying forklifts must be operated a minimum of 40 hours per week.

REBATE REQUIREMENTS:

• Purchase or lease must be final before funds are issued.
• Member and vendors must submit itemized equipment invoices, rebate applications and manufacturer equipment specifications.
• The Cooperative reserves the right to conduct random inspections of installations.
• Rebates must be applied for within 12 months of invoice date.
• Project must comply with all program-specific rules and qualifications.
• The member is responsible for checking with the Cooperative to determine funding and availability to verify program parameters.

Stearns Electric offers residential, commercial, industrial and agricultural rebates for our member-consumers. By upgrading to more efficient equipment and enrolling in our EnergyWise programs, you will save money and energy every month. Contact Stearns Electric at (800) 962-0655 for more information.

Click to see the full May Innovative Energy Solutions feature.