Green Mountain Power customers are about to harvest the benefits of the latest solar farm in Vermont. The Vermont Public Utility Commission (VPUC) approved plans to build the 252 kilowatt Margery Evans community solar array in Guilford, VT. That is enough energy to power roughly 100 homes.
Households, businesses, government entities and non-profit organizations can buy solar panels in the project. Green Lantern plans to start construction on the project either once all of the panels have been reserved or in early 2018.
Green Mountain Power customers who buy into the project will get the Investment Tax Credit of 30 percent for their portion of the solar materials in the project. They're also expected to recoup their investment within 12-years through net-metering reimbursements for the amount of solar power their portion of the solar farm generates. Panel owners will also be able to sell the renewable energy certificates generated by their panels.
“Although community solar arrays (CSA) are being developed in Vermont at a slower rate now, due to reduced incentives and more complex regulations, Green Lantern is able to offer the Margery Evans CSA due to our state-wide scale and the economies that go along with that, and because its pre-2017 applications allow it to be grandfathered under better incentives,” said Ralph Meima, director of development at Green Lantern.
Green Lantern will develop, construct and maintain the solar farm. The company is giving Green Mountain customers who live in Guiford, VT the first chance to invest in the project through Oct. 31, 2017. After the initial purchase period, customers outside of Guilford will have the opportunity to buy in or be placed on a waiting list to participate in the program.
Green Mountain continues to develop residential, community and large-scale solar projects to save its customers money on their power bills. The utility demonstrated the benefits of solar on Aug. 12, 2016, the highest peak day of the year, by showing that solar collectively saved 265,000 of its customers an estimated $200,000 at the 2 megawatt Stafford Hill Solar Farm and its 3.4 megawatt-hour energy storage system near Rutland, VT. Green Mountain also offers residential and commercial customers incentive packages to combine rooftop solar, battery storage and home efficiency applications to its customers.
The project is a step in the right direction to help Vermont achieve its goals to generate 20 percent of its energy supply from solar by 2025 and 90 percent by 2050. Vermont has a total of 196.4 megawatts of solar capacity and installed 76.4 megawatts in 2016, according to the Solar Energy Industries Association. The state also expects to see an additional 254 megawatts of solar power developed over the next 5 years.Tweet