Solar Power Rebates, Tax Credits and Solar Panel Incentives in Vermont; 2012 Update September 2012 update;
the funding for Vermont's small scale renewable energy program is fully committed and is closed. The Public Service Department has requested additional funds and have proposed some changes to the program structure. The Clean Energy Fund board will make a decision in relation to the program in mid September and the program could be running again by 19th of September.
Federal Tax Credit
The single most significant financial incentive for your solar power system in Vermont is the same Federal Tax Credit that applies right across the USA. This gives you a credit on your Federal Tax bill equivalent to 30% of the cost of your solar system For more information on this visit out page The 30% federal tax credit for residential solar power systems Because this is a tax credit you get the benefit of this when you do your next federal tax return, rather than getting a cheque on the day of installation. Still, it has a real value if you are in a position where you are paying annual federal income tax equivalent to 30% or more of the value of your solar panel system.
Net Metering in Vermont
The Net Metering system in Vermont is limited to 4% of a utility's peak demand during 1996 or the peak demand during the most recent full calendar year. Its a fist in best dressed system that will hopefully change in the future. Customers will be credited for any excess power that they put into the grid but any excess credits will revert to the utility after 12 months.
Summary for Incentives in Vermont
Well it seems after having a look at Vermont in May 2012 that only the basic solar incentives are in place. The first in best dressed Net Metering system means that those looking to get into solar power probably should do it sooner rather than later.