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Clean Energy Development Fund

Announcements:

 

CEDF moves back to the DPS
Starting July 9, 2011 the CEDF came back under the auspice of the Department of Public Service (DPS) where it was housed between its founding in 2006 until August of 2009.  The Clean Energy Development Board (CEDB) was restructured to serve more as an advisory board to the DPS.  The CEDB is charged with approving the CEDF’s annual plan, budget, program design, and strategic plan.  The DPS will be responsible for the day-to-day decisions of the CEDF. New members were appointed to the CEDB on June 29, 2011.  Information on the new Board members can be found in the 6/28/11 press release announcing the appointments.

 

Economic Overview of CEDF Expenditures – Tom Kavet (Kavet, Rockler & Associates) issued a memorandum regarding their economic overview of the CEDF’s expenditures over the last five years. The memo outlines the positive economic impact the $28 million of CEDF incentives has had on the Vermont’s clean energy economy as well as the overall Vermont economy over the last 5 years. 

From the report’s executive summary:

“Because these expenditures were directed solely to in-state projects, with most projects

demanding substantial local labor and nearly 20% of all expenditures generating significant local manufacturing demand as well, the economic impact of the Fund to the State of Vermont over this period has been exceptional.”

 

Funding Opportunities:


Grant Program
The grant program is closed. There are currently no plans for a new solicitation or RFP for renewable energy projects. Funding for renewable energy projects is now limited to the Small-Scale Renewable Energy Incentive Program.

 

Loan Program
The loan program is closed indefinately until further notice.

 

Small-Scale Renewable Energy Incentive Program
The Vermont Small-Scale Renewable Energy Incentive Program provides incentives for qualifying solar electric, solar hot water, small wind systems, and micro-hydro systems. The 2012 program changes can be found in the 2012 program design. Additional information and application forms can be obtained from the program administrator, the Renewable Energy Resource Center.

  • For more information on the incentive program contract the Renewable Energy Resource Center: 1-877-888-7372 (http://www.rerc-vt.org/incentives/forms.htm)

 

Press Releases

 

Vermont Business Solar Energy Tax Credit Certification
A revised Solar tax credit reservation list has been released on 1/3/11 (Available Here). This is the final revised list and includes tax credit reservations granted in the first or second round and has been updated as projects have dropped out of the program. The list also includes the ordered waiting list that could be used to distribute solar tax credit reservations if additional funds are made available for solar tax credits. Projects that have a CPG issued will receive their tax credit certification in December, 2010. Certificates will only be issued once a CPG has been obtained. For solar thermal projects, certificates will be sent once photographic proof of project installation has been received by the CEDF.

Commissioning Deadlines: Photovoltaic (PV) projects that applied for a CPG and the solar tax credit before July 15th, 2010 have until September 1, 2011 to commission their projects. Solar thermal projects and PV projects that applied for a CPG after July 15th must be commissioned by December 31, 2010 to be able to claim the solar tax credit.

 

Information on the Fund

In 2005, the Vermont General Assembly established the Vermont Clean Energy Development Fund through Act 74 (10 V.S.A. § 6523). The Act specifies that the Fund will be established and funded through proceeds due to the state under the terms of two Memoranda of Understanding between the Vermont Department of Public Service (DPS) and Entergy Nuclear VT and Entergy Nuclear Operations, Inc., and by any other monies that may be appropriated to or deposited into the Fund. The CEDF will receive payments from Entergy through 2012. The goal of the Fund is to increase the development and deployment of cost-effective and environmentally sustainable electric power resources – primarily with respect to renewable energy resources, and the use of combined heat and power technologies - in Vermont.

 

CEDF Board members (as of July 9th, 2011)

Jo Bradley – VT Economic Development Authority

Elizabeth Catlin – Bluestone Wealth Management LLC
Jennifer Hollar – VT Department of Economic, Housing and Community Development
Patty Richards – La Capra Associates
Sam Swanson – Pace Energy and Climate Center

Gaye Symington – High Meadows Fund
Will Wiquist – Green Mountain Club

 

For additional information on the Clean Energy Development Fund please contact Diane Reynolds at: diane.reynolds@state.vt.us

 

112 State Street, Drawer 20, Montpelier, VT 05620-2601
Phone: 802-828-2811  |  Fax: 802-828-2342  |  Consumer Hot Line: 800-622-4496