GMP, VEDA partner to help businesses save money while expanding EV chargers statewide

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GMP, VEDA partner to help businesses save money while expanding EV chargers statewide

Thu, 02/04/2021 - 1:38pm -- tim

GMP, VEDA partner to help businesses save money while expanding EV chargers statewide

This Latest Program Builds on GMP’s Growing Commitment to EV Infrastructure Across Vermont

Vermont Business Magazine Green Mountain Power (GMP) is making it simple and affordable for business customers to install electric vehicle chargers for the public and their employees with a new Workplace Charging pilot program. The turnkey package includes the Level 2 charger, software, installation, project management, maintenance and financing. The cost could be as low as $35 per month for a single charger.

GMP partnered with the Vermont Economic Development Authority (VEDA) to offer low-interest, flexible financing for businesses and municipalities in the program, and a GMP energy advisor will work closely with customers to streamline the entire process.

“GMP is committed to growing its network of EV charging infrastructure across Vermont to make EVs an option for more and more Vermonters, said GMP President and CEO Mari McClure. “This program is great because it makes EV charging simple and affordable. Two things businesses really need right now. Looking ahead, a statewide charging network is foundational for economic development, tourism, and ensuring that more Vermonters have access to clean transportation.”

For added convenience, the VEDA loan payment will be wrapped in to one monthly amount – that includes charger, installation, and software – on the customer’s GMP energy statement.

“Supporting the renewable energy sector by providing innovative financing has been an essential part of VEDA’s mission for many years,” said Cassie Polhemus, chief executive officer at VEDA. “This program addresses some of the barriers businesses face when building EV charging stations, like upfront costs and lack of onsite technical expertise. It also addresses larger transportation issues we face as Vermonters, and we hope it encourages continued investments in renewable energy solutions that reduce greenhouse gas emissions and improve our infrastructure.”

Vermont companies E&S Electric and Norwich Solar Technologies are working with GMP to do the charger installation work for program participants.

“This program fits well with Norwich Solar Technologies’ and Vermont’s mission of utilizing renewable energy technologies to reduce pollution and dependence on fossil fuels, promote local jobs, increase energy independence, and help Vermonters save money. We are excited to partner with Green Mountain Power to help build out the EV charging infrastructure necessary to fully achieve this vision,” said Kevin Davis, vice president of sales and marketing at Norwich Solar Technologies in White River Junction.

Allen Simard, co-owner of E&S Electric in Williamstown, said EV charger installation is a growing part of his company’s work.  “We’re glad to be a part of a program that will help Vermont businesses and help to combat climate change. We’ve worked with GMP on a number of projects, and we’re looking forward to helping their customers expand EV access,” Simard said.

Transportation is the top source of carbon pollution in Vermont. GMP has projects and partnerships underway that leverage emerging technologies including more Level 3 fast charging in Vermont within the year. This includes the recent approval of a rate change that makes fast charging more affordable, encouraging more businesses and communities to install fast charging stations for the public.

GMP offers additional programs and services specially designed to break down barriers to transitioning to electric vehicles including:

These initiatives are in addition to state discounts on electric vehicles. GMP will continue to build on this work to enable a fully EV-enabled Vermont.

GMP customer Joe Larkin is looking to install multiple EV chargers for shoppers and residents at a newly developed mixed-use property in South Burlington. “We are very interested in this program. It’s practical. We’ve been considering installing chargers for some time, and this could be exactly what we’ve been waiting for to get it done,” said Larkin.

The pilot program was filed with the Public Utilities Commission last week, and is awaiting approval. Businesses interested in signing up or learning more can find additional information by visiting the Green Mountain Power website: https://greenmountainpower.com/rebates-programs/business-innovation/electric-vehicles/workplace-charging/.

About Green Mountain Power

Green Mountain Power (GMP) serves approximately 266,000 residential and business customers in Vermont and is partnering with them to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective and reliable power in Vermont.

GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. GMP earned a spot on Fast Company’s Most Innovative Companies in the World list four years in a row (2017, 2018, 2019, 2020).  In 2019 GMP was honored by the Vermont Chamber of Commerce and Vermont Business Magazine with the Deane C. Davis Outstanding Vermont Business of the Year Award.

About VEDA

The Vermont Economic Development Authority (VEDA) is Vermont’s economic development finance lender. Created by the Vermont General Assembly in 1974, VEDA’s mission is to contribute to Vermont’s economic vitality by providing a broad array of financing programs to eligible businesses that create jobs and help advance Vermont’s public policy goals.

VEDA offers a wide range of low-cost lending options for Vermont businesses and farms of all sizes, and the Authority’s lending solutions are customized to each borrower’s individual needs. Whether in the form of direct loans, tax-exempt bond issuance or loan guarantee support, VEDA’s innovative financing programs help ensure that Vermont businesses and farms have the capital they need to grow and succeed.

VEDA most often lends in conjunction with banks and other financing partners, helping to stimulate economic development activity in Vermont.

Since inception, VEDA has provided over $2.5 billion in financing assistance to thousands of eligible Vermont entrepreneurs, manufacturers, small businesses, family farms, and agricultural enterprises.

VEDA has four offices throughout Vermont – in Montpelier, Burlington, Middlebury and St. Johnsbury. For more information about VEDA, visit www.veda.org 

Source: COLCHESTER, Vt. – Green Mountain Power 2.4.2021