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). If your tax liability is small, you can claim the credit every year until it is used up or until 2016.
This fund is temporarily closed. New rebate levels may be set in 2012. Contact ReKnew to learn more.
The state rebate is set at $0.75 per Watt for PV up to 10 kW, and $1.50 per 100 BTU/day for solar hot water systems up to 200 kBTU/day. The combined 2-year incentive per customer for all small renewables is $25,000. Vermont gives a 100% sales tax exemption for the purchase of a renewable energy system smaller than 250kW. This program is administered by the Renewable Energy Resource Center (RERC).
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. All utilities in Vermont are expected to adopt this incentive in 2012.
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.
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.
This interactive Clean Energy Guide Book is provided by the Vermont Public Interest Group, but it is a good resource for understanding federal incentives regardless of where you live. This guide book also compiles other funding opportunities available throughout New England (see the “Foundations” section).
Please contact us for assistance with any of the above 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.
Incentives to Go Solar in Vermont
Financing Your Project
Federal Renewable Energy Residential Tax Credit
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). If your tax liability is small, you can claim the credit every year until it is used up or until 2016.
State Rebates
This fund is temporarily closed. New rebate levels may be set in 2012. Contact ReKnew to learn more.
The state rebate is set at $0.75 per Watt for PV up to 10 kW, and $1.50 per 100 BTU/day for solar hot water systems up to 200 kBTU/day. The combined 2-year incentive per customer for all small renewables is $25,000. Vermont gives a 100% sales tax exemption for the purchase of a renewable energy system smaller than 250kW. This program is administered by the Renewable Energy Resource Center (RERC).
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. All utilities in Vermont are expected to adopt this incentive in 2012.
Other Possibilities
Property Assessed Clean Energy (PACE)
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.
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
Resources for residences in any state:
This interactive Clean Energy Guide Book is provided by the Vermont Public Interest Group, but it is a good resource for understanding federal incentives regardless of where you live. This guide book also compiles other funding opportunities available throughout New England (see the “Foundations” section).
Please contact us for assistance with any of the above 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.