Making Solar Power Affordable For All
SOLAR NET METERING IN VERMONT
Your solar panels will often produce more electricity than you need, but thanks to Vermont’s net metering policy, you will be able to sell this back to the grid in exchange for credits on your utility bill. When you need more electricity than your panels are producing, you can use those credits instead of buying electricity from your utility.
RENEWABLE ENERGY CREDITS
Vermont currently compensates solar owners for the Renewable Energy Credits (REC) representative of the energy produced from a solar energy system.
RESIDENTIAL
Following the 2017 revision to net metering, utilities compensate homeowners an additional $0.01kWh for 10 years for solar generation. Customer may be eligible to receive another $0.03/kWh, for a total of $0.04/kWh with systems between 15 kW and 150 kW that are located on “preferred sites”.
Vermont fully exempts solar photovoltaic (PV) systems up to 50 kilowatts (kW) from the statewide education property and municipal taxes.
Vermont’s sales tax exemption for renewable energy systems, originally enacted as part of the Miscellaneous Tax Reduction Act of 1999 (H.B. 0548), initially applied only to net-metered systems. The exemption now generally applies to systems up to 500 kilowatts (kW) in capacity
COMMERCIAL
Vermont offers a 5.28% investment tax credit for installations of solar energy systems on business properties placed in service on or before 12/31/2021. After that, solar technologies are eligible for a 2.4% credit. Any unused tax credit may be carried forward for five years.
All equipment purchased to construct and install a net metered renewable energy system is exempt from Vermont’s 6% sales tax. Your Municipality may offer additional tax credits or incentives.
The Commercial Energy Loan Program (CELP) provides low-interest loans to businesses for larger renewable energy and energy efficiency projects. (The current interest rate is 3%.)
The maximum loan amount is $2,000,000, and may fund up to 60% of the project.
Customers transferring RECs to the utility will receive an additional monthly bill credit for 10 years equal to $0.01/kWh multiplied by all kWh produced by the system during the billing period.
FEDERAL TAX INCENTIVES
Federal Solar Tax Credits for 30% of the installation cost is applicable to all solar installations. Also, there is accelerated depreciation for commercial applications that can assist in moving to clean, renewable energy.
As per our standard operating procedure, we advise each customer talks with their tax professional.
ZERO DOWN, ZERO % FINANCING
Going Green Won’t Cost You Green. Solar Liberty can help you start saving with your residential solar power system installation in Vermont, as we require little or no money upfront. We offer a number of flexible financing options to meet your specific needs.
Solar Liberty services the State of Vermont with crews operating out of Burlington, Colchester, Essex and Rutland.
