Please contact us for assistance with any of the following information. We are happy to help you understand which incentives are available to you and where to find more information. The information on this page is not tax advice; please seek professional advice from a qualified tax advisor before claiming any tax benefits or exemptions.
Sample Calculations
Here are some estimated costs including equipment and labor along with some potential credits and rebates. A 5 kW system is about the size that an average New England home would need to replace 100% of their electricity with solar. The smaller systems can be scaled up at any time if you would like to start with a 2.5 kW or 1.2 kW system.
The state rebate is set at $1.75 per Watt for PV up to $8,750, and $1.75 per 100 BTU/day for solar hot water systems up to $8,750. The combined incentive for all small renewables is $8,750. Vermont gives a 100% sales tax exemption for the purchase of a renewable energy system smaller than 250kW. The DSIRE website will give you access to Vermont state solar energy incentives as well as the state’s rules, regulations, and policies related to renewable energy.
Green Mountain Power is offering an incentive of $.06/kWh produced for all net-metered solar electric systems. This is on top of your net-metering credit (usually about $.13/kWh). This utility will also reimburse you up to $300 for metering expenses.
Check with your local municipality to determine if this incentive is available in your area. This incentive allows property owners to pay for a renewable energy system over a period of up to 20 years through a special assessment charged as a new line item on their property tax bills and paid to the municipality.
This state fund offers loans of $50,000 up to $500,000 or 90% of the total project cost for grid-tied projects over 15kW only. Loan application deadlines are quarterly: January 1, April 1, July 1, and October 1.
Small Scale Renewable Energy Incentive
This incentive is for grid-tied projects smaller than 15kW only up to $8,750. This program is administered by the Renewable Energy Resource Center (RERC).
Grants
Next grant proposal deadline is 2/26/10
Project Categories for Grant Solicitation:
Pre-Project Financial Assistance (over 15kW or 1 million BTU/hr only)
Small-Scale Systems (less than 15kW or 1 million BTU/hr only)
Large-Scale Systems (over 15kW only or 1 million BTU/hr only)
All agricultural producers, including farmers and ranchers, who gain 50% or more of their gross income from the agricultural operations are eligible for these grants and loans.
REAP Grants
These grants for renewable energy systems range from $2,500 up to $500,000 or 25% of the total project cost.
REAP Feasibility Grants
These grants cover energy audits and feasibility studies for renewable energy systems and can be as much as $50,000 or 25% of the total cost.
REAP Loans
Loans range from $5,000 up to $25 million or 75% of the total project cost.
Vermont
Please contact us for assistance with any of the following information. We are happy to help you understand which incentives are available to you and where to find more information. The information on this page is not tax advice; please seek professional advice from a qualified tax advisor before claiming any tax benefits or exemptions.
Sample Calculations
Here are some estimated costs including equipment and labor along with some potential credits and rebates. A 5 kW system is about the size that an average New England home would need to replace 100% of their electricity with solar. The smaller systems can be scaled up at any time if you would like to start with a 2.5 kW or 1.2 kW system.
Estimating costs 5 kW:
Estimating costs 2.5 kW:
Estimating costs 1.2 kW:
Estimating costs for solar hot water:
Financing Your Project
Federal Investment Tax Credit (ITC)
Tax credits are available at 30% of the cost of the solar energy system, with no upper limit through 2016 (for existing homes & new construction).
Energy Star explains Residential Federal Tax Credits.
State Rebates
The state rebate is set at $1.75 per Watt for PV up to $8,750, and $1.75 per 100 BTU/day for solar hot water systems up to $8,750. The combined incentive for all small renewables is $8,750. Vermont gives a 100% sales tax exemption for the purchase of a renewable energy system smaller than 250kW. The DSIRE website will give you access to Vermont state solar energy incentives as well as the state’s rules, regulations, and policies related to renewable energy.
Utility Incentives
Green Mountain Power is offering an incentive of $.06/kWh produced for all net-metered solar electric systems. This is on top of your net-metering credit (usually about $.13/kWh). This utility will also reimburse you up to $300 for metering expenses.
Other Possibilities
Clean Energy Assessment Districts (CEAD)
Check with your local municipality to determine if this incentive is available in your area. This incentive allows property owners to pay for a renewable energy system over a period of up to 20 years through a special assessment charged as a new line item on their property tax bills and paid to the municipality.
Clean Energy Development Fund (CEDF)
Loans
This state fund offers loans of $50,000 up to $500,000 or 90% of the total project cost for grid-tied projects over 15kW only. Loan application deadlines are quarterly: January 1, April 1, July 1, and October 1.
Small Scale Renewable Energy Incentive
This incentive is for grid-tied projects smaller than 15kW only up to $8,750. This program is administered by the Renewable Energy Resource Center (RERC).
Grants
Next grant proposal deadline is 2/26/10
Project Categories for Grant Solicitation:
USDA Grants and Loans
All agricultural producers, including farmers and ranchers, who gain 50% or more of their gross income from the agricultural operations are eligible for these grants and loans.
REAP Grants
These grants for renewable energy systems range from $2,500 up to $500,000 or 25% of the total project cost.
REAP Feasibility Grants
These grants cover energy audits and feasibility studies for renewable energy systems and can be as much as $50,000 or 25% of the total cost.
REAP Loans
Loans range from $5,000 up to $25 million or 75% of the total project cost.
Other Resources