Current News

Vermont Business Magazine Dynapower Company, the global leader in energy storage inverters, is closing out 2015 with a record 75-megawatt (MW) backlog of orders for its energy storage inverter family. The company also passed 250 MW of total installed systems, strengthening its position as the industry's leading supplier of bi-directional inverters for energy storage applications. The backlog is due in part to the company's agreement with Tesla, under which Dynapower supplies 250 kW inverters as part of Tesla's Powerpack Commercial battery system for large commercial and utility customers. It's also driven by record US storage deployments this year, which have already exceeded 100 MW as of the third quarter, according to a GTM Research and Energy Storage Association report.

Vermont Busness Magazine Northern Power Systems Corp (TSX: NPS), a next generation renewable energy technology company based in Barre, has announced that substantial technology-driven operational improvements to its flagship Northern Power 100 kW wind turbine platform have been demonstrated to materially decrease the delivered Levelized Cost of Energy (LCOE) of wind power produced by its turbines.

"The current LCOE makes the Northern Power platform even more affordable for farmers, local businesses and on-site generation users trying to limit the ever increasing cost of electricity," said Reinout Oussoren, VP of Global Sales. "Small wind is now an even more viable alternative for comme rcial and industrial users."

Vermont Business Magazine The Golden Eagle Resort in Stowe, VT is making its impact on the community with a donation of furniture which was originally planned to be discarded following an extensive redecoration. The furniture, which includes credenzas, pictures, lighting, mirrors and night stands, was donated to the Green Mountain Habitat for Humanity for sale in its ReStore. In making the announcement The Golden Eagle Resort’s General Manager Andrew Cournoyer said, “We are pleased to make this donation to an organization that has made such a positive impact in our community, and we know the furniture will be put to good use.”

The Green Mountain Habitat for Humanity ReStore sells donated new and gently used furniture, appliances, housewares and building supplies to the public and the net proceeds go towards building energy-efficient and affordable homes for low-income families in northwestern Vermont.

Vermont Business Magazine TDI New England has announced that seven electricity suppliers from Canada and the United States have expressed interest in transmitting up to 3,200 MW of power over the 1,000 MW New England Clean Power Link in response to the Open Solicitation process conducted by the company. The expressions of interest, which were due December 4, 2015, are part of the Open Solicitation process overseen by the Federal Energy Regulatory Commission (“FERC”). The process seeks to identify parties interested in purchasing transmission rights on the Clean Power Link. Details regarding the potential suppliers are confidential.

Vermont Business Magazine The Vermont Attorney General’s Office and Department of Public Service provided official guidance to solar companies doing business in Vermont to avoid making deceptive claims for certain solar projects. “The recent proliferation of new solar projects also brings the potential for a new kind of deception,” said Attorney General Sorrell. In certain solar project agreements, including most community solar or net metering credit purchase arrangements, the solar company owns the solar panels, instead of the consumer. Within some of these projects, the solar company also sells the renewable energy certificates/credits (“RECs”) attributed to the electricity generated by those solar panels in a regional market in order to help finance the project.

by Timothy McQuiston Vermont Business Magazine The Personal Income Tax, the state's most vital revenue source, lagged last month, as it often did last fiscal year. General Fund (GF) revenues totaled $83.94 million for November versus the monthly target of $87.02 million, -$3.08 million or -3.53 percent short. The shortfall was due primarily to the Personal Income Tax category. Personal Income Taxes of $37.74 million fell below target by -$3.96 million or -9.50 percent, while Corporate Income Taxes of $1.90 exceeded target by +$2.90 million. The November results caused a back slide in cumulative year-to-date General Fund receipts. However, cumulative total of $538.89 million remains slightly above the Y-T-D target by +$1.11 million, or +0.21 percent. Y-T-D November revenue receipts for FY 2016 exceed the prior year (FY 2015) results by +$27.45 million, or +5.36 percent.

Vermont Business Magazine Cathedral Square was recently awarded a $100,000 affordable housing grant through the TD Charitable Foundation’s Housing for Everyone grant competition. The grant will be used to help fund the construction of Elm Place, a new affordable housing community in Milton, Vermont. Cathedral Square’s Elm Place will be a service-enriched senior housing community located on a smart growth site in the heart of Milton’s downtown. This thoughtfully positioned property will sit adjacent to UVM Medical Center’s Milton Family Practice and near the senior center, pharmacy, grocery store, churches, and library, with sidewalks providing walking access to all of these services. Features will include a community room with kitchen, lounge, elevators, laundry facilities, storage, underbuilding parking, and an outdoor courtyard for social gatherings.

Vermont Business Magazine The Vermont Attorney General’s Office entered into an Assurance of Discontinuance with Aspen Marketing Services, LLC after the attorney general’s investigation revealed that over 81,000 letters Aspen sent on behalf of five GM motor vehicle dealers misrepresented that the consumers had been specially selected to participate in an exclusive motor vehicle buyback program. The letters sent to consumers misrepresented that certain car dealers had been selected as a “host location” for a “unique Buyback Event,” and that the dealers were in “desperate need” of their particular vehicles to “fulfill special used vehicle requests.” Consumers were told that “due to the nature of the event,” they must bring the letter to be admitted because the Buyback event would “not be advertised to the general public.”

Vermont Business Magazine With the 2015/2016 ski and snowboard season officially underway, Okemo Mountain Resort continues to receive media accolades from some of the nation’s top publications: SKI, TransWorld SNOWboarding, Outside and others. Okemo was ranked among the East’s Top Ten in SKI Magazine’s highly anticipated Resort Guide issue. Okemo made the list with an overall ranking of ninth place. Most noteworthy was Okemo’s first-place ranking in lifts. Once again, Okemo scored high marks in other categories as well: third for snow, fourth for grooming, fourth for on-mountain food, fourth for being kid friendly, seventh for dining and access, eighth for service, lodging and terrain parks.

Vermont Business Magazine A new report released today from the White House Council of Economic Advisers (CEA) finds that the Supplemental Nutrition Assistance Program (SNAP), formerly known as Food Stamps, is highly effective at reducing food insecurity—the government’s measure for whether households lack the resources for consistent and dependable access to food. In Vermont, nearly a quarter of SNAP recipients have income that is less than half the poverty level. The report highlights a growing body of research that finds that children who receive food assistance see improvements in health and academic performance and that these benefits are mirrored by long-run improvements in health, educational attainment, and economic self-sufficiency.

Tobacco Companies Spend $5 to Market Products for Every $1 Vermont Spends on Prevention

Vermont Business Magazine Vermont ranks 10th in the country in funding programs to prevent kids from smoking and help smokers quit, according to a national report released today by a coalition of public health organizations. Vermont is spending $3.7 million this year on tobacco prevention and cessation programs, which is 44 percent of the $8.4 million recommended by the Centers for Disease Control and Prevention (CDC).

Vermont Business Magazine Governor Peter Shumlin today announced the completion of a 500 kilowatt solar net metering project at the Southern State Correctional Facility in Springfield, the fifth of seven state correctional facilities to be powered by solar. The project is part of an initiative the governor announced in September of 2013 to deploy 5 megawatts of solar power that will increase the state’s use of renewable energy while saving taxpayers on state energy costs.

“This is a perfect example of how we do renewable energy in Vermont,” Shumlin said. “Local solar that powers our public buildings all while creating and supporting local jobs. I’m so proud of the state for leading by example.”