This section provides information on the types of funding currently available through the Clean Energy Development Fund. If you would like to look at example feasibility studies / projects or listings of completed projects, please choose from the sub-menu to the left.
Requests for Proposals:
October 9, 2017 – Request for Proposals: Clean Energy Finance Report
The CEDF released a request for proposals (RFP) seeking the assistance of a qualified contractor or group interested in researching, analyzing and writing for the CEDF leading to the Vermont Clean Energy Finance Report. The purpose of this report is to develop and track baseline information that characterizes the status of key clean energy financing activities, tools, programs, products and services available to borrowers in residential, commercial and institutional market segments of interest in the state.
Proposals are due by October 30, 2017. Refer to the RFP for details.
Questions regarding the RFP should be submitted in writing and are due by October 16, 2017. Please see the RFP for details.
Proposals should include a budget worksheet using this Excel file. Please contact program administrator Edward Delhagen (Ed.Delhagen@Vermont.gov) if you wish to submit a proposal but cannot access or use the Excel file.
September 26, 2017 - Request for Proposals: Rutland County Low-income Wood Stove Change-out and Pellet Heating Program
The CEDF released a request for proposals (RFP) to create and administer a program that will serve low-income residential Vermonters in Rutland County with the installation of pellet heating stoves/systems and change-out of old non-certified wood stoves with EPA certified wood/pellet stoves or heating systems.
Proposals are due by October 24, 2017. Please see the RFP for details as well as the answers to the questions recieved (see below).
Rebate Type Programs:
Small-Scale Renewable Energy Incentive Program
The Vermont Small-Scale Renewable Energy Incentive (SSREI) Program provides incentives for qualifying advanced wood pellet (and chip) boilers, sap evaporators and solar hot water systems. The program is administered by the Renewable Energy Resource Center (RERC) (under contract with the CEDF), incentive applications and program information is listed below and can also be obtained at their web site: www.rerc-vt.org. The RERC can also be reached at 1-877-888-7372.
June 30, 2017 - Incentives for Pellet (or chip) Fired Sap Evaporators Announced.
- Press Release Announcing the Incentives
- The incentive will be offered as a rebate on the purchase and installation of new pellet or wood chip-fired evaporators. The rebate is only paid to those projects that have obtained an incentive reservation. The rebate will be $200/sq. ft of evaporator pan, up to a maximum of $20,000.
- Terms, Conditions, and Requirements (PDF) for the evaporator incentives.
- Evaporator Incentive Reservation Application
- Incentive applications and program information available at: www.RERC-VT.org
Pellet Advanced Wood Heating Incentive:
The SSREI Program's advanced wood heating incentives are for pellet and chip boilers and furnaces and are available to residential, commercial, and non-profit institutional customers. The incentives are outlined in this table (for program applications and complete information visit www.RERC-VT.org ):
Base Incentive Calculation
$1.25 per sq-ft heated space connected to the system
Maximum Base Incentive
$3,000 or 30% of total installed cost, whichever is less
$20,000 or 30% of total installed cost, whichever is less
Thermal Storage Tank Adder Calculation
$10.00 per MBH
Maximum Thermal Storage Tank Adder
Customer Cap for Program Lifetime (with Adders)
Solar Hot Water Incentives
The average residential customer installing a solar hot water system receives approximately $1,000 in incentives from the SSREI Program. This program will cease to offer new incentives on December 1, 2017
For applications and complete information visit www.RERC-VT.org
Heat Saver Loan Program
The CEDF is supporting the Department's Heat Saver Loan, a finance product available to help Vermonters install renewable energy and complete energy efficiency upgrades in their homes. The loan offers attractive financing for homeowners looking to overcome up-front expenses to upgrade energy equipment and save money. Current interest rates range from 0% to 4.99%, based on an applicant’s household income and loan terms.
- Simple one-page application (“Project Verification Form”)
- Approval may be provided in as little as 2 business days
- Low interest rates
- Loan lengths are flexible, to match loan payments to energy savings
- Energy savings count in determination of ability to pay
- Can be combined with Efficiency Vermont and CEDF rebates (including rebates for heating systems)
- Solves the issue of how to pay for the work and allows contractors to focus the customer’s attention on a project start date
If you would like to learn more about this program, please click here.
1. Vermont Business Solar Energy Tax Credit
In 2010 the Vermont Business Solar Energy Tax Credit, which was a tax credit equal to 100% of the Federal Investment Tax Credit was terminated. This credit cannot be claimed for projects that were not certified by the CEDF in 2010.
2. Vermont Investment Tax Credit
The Vermont Investment Tax Credit, which includes business investments in solar (PV and hot water) systems that are eligible for the Federal Investment Tax Credit (ITC), is still available. The credit can only be claimed by individuals (despite being a credit for business investments) and is equal to 24% of the Federal ITC claimed (Federal ITC is currently 30% and thus the Vermont ITC is worth 7.2% of the eligible costs of the solar system).
The CEDF no longer offers loans, but does support loans for renewable energy projects through the Heat Saver Loan program mentioned above.