A. RENEWABLE ENERGY RESOURCE CENTER (RERC)
Solar Incentives – based on rated capacity of system
- Solar Electric Incentive:
No longer available.
For historical information on these incentives, please visit http://www.rerc-vt.org/incentives-program/retired-incentives
- Solar Hot Water Incentive Calculation:
Residential $.40/kWh/yr = (capped at $3,000)
Commercial $.40/kWh/yr = (capped at $16,500)
Special Category $.80/kWh/yr = (capped at $45,000)
The information above is from The Renewable Energy Resource Center (RERC). For more information, visit: www.rerc-vt.org
B. Additional Incentives
The PV panels are connected to the electricity grid through your home’s utility meter. Electricity generated by your PV system is used by your home first, and any extra is fed back into the grid, literally spinning your electrical meter backwards. Electricity that you put back into the grid is counted as a credit (approximately 12-13 cents per kWh generated) against cloudy days when the PV system might not satisfy your home’s energy demands.
VT Statewide Solar Adder (no longer available of January 1, 2017)
This was a law requiring utilities to offer a 19 cent credit to solar net metering customers for the energy they produce. Utilities were required to issue an additional credit on top of the base residential per kWh credit that solar customers already received (to make a total of 19 cents per kWh). This meant that for every kWh your system generated, you were credited 19 cents per kWh. Customers were awarded the per kWh customer credit for a 10 year period. This incentive is no longer available.
PACE (PROPERTY-ASSESSED CLEAN ENERGY)
Property Assessed Clean Energy (PACE) financing is a unique way to finance energy efficiency improvements for your home. Repayment of PACE financing is tied to the property, not to the owner. PACE financing is available at a competitive fixed interest rate and with $0 down. Term options of 10, 15 or 20 years allow for most projects to be cash-flow positive. In addition to financing thermal and electric efficiency improvements, PACE can finance on-site renewables such as solar PV.
Residential dwellings, including primary residences, vacation homes, 1-4 unit owner-occupied
structures, manufactured homes and condominiums, are eligible to participate in the PACE Program if
property taxes are being paid on the dwelling by the owner of the dwelling. The minimum amount that
can be financed through the PACE Program is $3,500. The maximum amount that can be financed is 15%
of the assessed value of the property, capped at $30,000. The total amount financed by PACE plus any
outstanding mortgages on the property cannot exceed 90% of the assessed value of the property.
Towns that have approved PACE Districts
As of July 2013, the following 45 Vermont towns had adopted PACE:
The information above is from Energy Efficiency Vermont:
VT Investment Tax Credit As of January 1, 2017
Vermont offers an investment tax credit for installations of renewable energy equipment on business properties. The credit is equal to 8% of the “Vermont-property portion” of the federal business energy tax credit. For solar, small wind, and fuel cells this constitutes a 2.4% state-level credit. Any unused tax credit may be carried forward for 5 years.
Please visit http://programs.dsireusa.org/system/program/detail/3428 for more information.