Home Solar Power in Vermont
Vermont regularly rates as one of the top places to work, live and play. Known for its lush forests, small farms, maple syrup and world class skiing, Vermont is also on the verge of becoming known as an emerging leader for solar energy in the Northeast. The State of Vermont is living up to its motto “Freedom and Unity” by taking steps to allow energy consumers the freedom to take control of their energy costs through Home Solar Power.
Average installed residential and commercial photovoltaic system prices in Vermont have fallen by 30% in the last year. In 2014, $76 million was invested on solar installations in Vermont. This represents a 63% increase over the previous year, and is expected to grow again this year. Vermont installed 38 MW of solar electric capacity in 2014, ranking it 22nd in the United States. There is currently enough solar energy installed in Vermont to power over 15,200 homes saving electrical rate payers thousands of dollars every year. Solar has also proven to be an economic bonus for the state, the growth of solar in Vermont has generated over 75 solar related businesses employing over 1,000 people.
Vermont SPEED Home Solar Program
One of the driving forces that will help guarantee the success of the Vermont home solar program is the Sustainably Priced Energy Enterprise Development (SPEED) program. The SPEED program is currently a voluntary program that set a goal for Vermont utilities to achieve 20% of energy produced in the state to be from renewable sources by 2017. If in that time the utilities are not in compliance the rules will become mandatory. There is also legislation that suggests a target of 75% renewable by 2032, a truly admirable target.
Home Solar Power Savings in Vermont
Vermont residents that have a home that is a good candidate for solar power, the financial return on investing in a photovoltaic home solar system in can be very positive. At approximately 10 years, a number that is sure to drop, Vermont has one of the shortest home solar payback periods in the nation and savings will continue long after the system is paid off. The life of a solar PV system is 20 years or more.
Home Solar Financing in Vermont
Because Vermont solar efforts have become so successful the state has attracted the attention of some of the leading solar companies in the nation creating financing opportunities that make it easy to start saving on your energy bills immediately. Contact a Solar Consultant to see what programs, incentives and rebates you qualify for. Often times you can get a home solar system installed on your home with absolutely no upfront costs.