Vermont's solar power industry is steadily growing. With strong solar incentives already in place, the state is looking to improve its Renewable Portfolio Standards (RPS) program by making these RPS requirements mandatory, rather than voluntary, for all utility companies. Read on for more information about Vermont's latest solar incentives.
Grid Connected Solar Power Systems in Vermont (2012)
- Residential Solar Power Systems: 5.3 Megawatt
- Non-Residential Solar Power Systems: 2.3 Megawatt
- Utility: 8.8
- Total: 16.3 Megawatt
- Cumulative: 28.0 Megawatt
Vermont's small size makes it the ideal environment for homeowners to form a supportive community for solar power. 37 MW of solar power currently installed in Vermont ranks it 24th in the country in installed solar energy capacity. This is enough solar energy to power 6,500 homes.
Cost of Electricity in Vermont
- Electricity Price: $0.17 per kWh
- Average Electricity Bill: $153.00
- Average Bill after Solar: $59
Vermont has some of the highest electricity prices in the nation. Consequently, switching to a solar energy system in this state is particularly beneficial. Homeowners generally pay $38 per month for leased solar energy systems, leaving them with around $56 in savings every month. Solar energy systems in Vermont take approximately 6.9 years to pay for themselves.
Average solar radiation in Vermont is between 2 and 3 kilowatt per day over an area of 1 square meter (10.76 square foot). Due to its northern location, the state experiences only about 160 days of sunshine annually.
State Solar Incentives and Rebate Programs
- State Solar Tax Credit: None
- State Solar Rebate: Varies depending on technology and eligible sector. $0.45/Watt (W) generating capacity (DC) up to 10 kilowatts (kW)
- Property Tax Exemption: 100% property tax exemption for systems 10 kilowatts or less Uniform $4/kilowatt property tax payment
- Sales Tax Exemption: 100%
Vermont provides solar incentives which cover nearly all areas of savings for homeowners. Vermont's legislature also recently added a bonus to its statewide solar rebate program: homeowners who meet the goals of certain energy efficiency programs qualify for another $100/kw, up to $350. Additionally, the Federal Tax Credit also applies.
Solar Installers in Vermont
Solar installers in this state must be licensed by the State Electrician’s Licensing Board. Research the license of your solar installer on the state's Licensee Lookup database.
Summary: Good Conditions for Solar Power Systems
Vermont has a strong foundation for solar power and is steadily working to build on this foundation. Outstanding solar incentives such as its property and sales tax exemptions and solar energy rebate create excellent savings. To calculate your costs and savings, please use our Solar Calculator, or contact solar installers in your area.
Solar Energy Fact Sheet: Vermont, © SolarContact.com