Vermont Solar Incentives & Rebates | Sunnyrate

Going Solar is Simple with Sunnyrate's Vermont Solar Incentives and Rebates

Now is the perfect time to go solar in Vermont! Ranking fifth highest in the country for both residential and commercial electricity rates, Vermont is an excellent state to invest in solar energy.

Additionally, the Green Mountain State offers numerous solar incentives and rebates that reduce the cost of procuring solar panels, making it a viable and attractive choice for property owners.

Vermont Solar Incentives, Rebates, Tax Credits, and Benefits

Vermont Renewable Portfolio Standards (RPS)

Vermont has set an ambitious goal for renewable energy. Starting at 55% in 2017, the target increases by 4% every three years, aiming to reach 75% by 2032. This is one of the highest Renewable Portfolio Standards (RPS) in the nation. Utility companies face high fees if these standards are not met, incentivizing them to offer solar incentives for property owners.

Vermont Net Metering

Vermont's net metering program is highly beneficial for property owners. This program allows solar panels and other renewable energy systems to connect to the utility grid, enabling customers to earn credits that offset their electricity costs. By selling excess electricity back to the grid, customers receive a credit on their electric bill.

Vermont Interconnection Standards

Vermont has robust interconnection standards that ensure solar and other electrical generation systems can seamlessly connect to the grid. These standards streamline the installation process, reduce costs, and enhance the reliability of net metering.

Vermont Performance-Based Incentives (PBI)

Vermont offers Performance-Based Incentives (PBIs), known as Solar Power Performance Payments. These incentives are based on the actual power your system generates. Property owners are paid based on the kilowatt-hours (kWh) or BTUs their system produces, generating Solar Renewable Energy Credits (SRECs) which vary in value based on supply and demand. SRECs help offset the cost of the system.

Vermont Solar Sales Tax Exemption

In Vermont, property owners do not pay sales tax on the cost of an installed solar power system, granting a 6% savings on the purchase. This exemption makes investing in solar panels even more attractive.

Vermont Solar Property Tax Exemption

Adding a solar system will not increase the assessed value of your home for property tax purposes. A 5 kW system can increase your home's value by nearly $17,000 without raising your property taxes.

Vermont Inflation Reduction Act (IRA)

Eligible property owners can qualify for a 30% tax credit against the system cost under the Vermont Inflation Reduction Act.

Vermont Green Mountain Power's (GMP) Bring Your Device (BYOD) Program

Green Mountain Power (GMP) offers solar incentives of up to $10,500 for customers who join the BYOD program and procure a new home battery. This program helps reduce costs during peak energy usage times.

Don’t Forget About the Federal Tax Credit, Vermont!

In addition to Vermont's excellent solar incentives, exemptions, and rebates, property owners can also benefit from the Federal Investment Tax Credit (ITC). This credit allows you to deduct 26% of the cost of your solar energy system from your Federal income tax. However, this credit is only available to those who purchase their solar system with cash or a loan. If you lease a system, the incentives go to the third-party owner, making it more advantageous to buy rather than lease.

Sunnyrate: Your Partner in Going Solar

Now is the ideal time to explore solar energy in Vermont. By leveraging various solar incentives and rebates, you can significantly reduce your electric bills. Trust Sunnyrate to provide expert advice and support for your solar needs. Go solar today with Sunnyrate and save on your energy costs with Vermont’s generous solar incentives!