VEC energy transformation incentives continue for 2022

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VEC energy transformation incentives continue for 2022

Thu, 01/06/2022 - 6:09am -- tim

Vermont Business Magazine Vermont Electric Co-op (VEC) is continuing to offer a wide variety of bill credits this year for members who purchase certain electricity-powered devices for their homes or businesses to transition away from fossil fuels.

“These incentives are designed to help members choose technologies for heating and cooling their homes and getting around that are more modern, cleaner and less expensive over the long term,” said Jake Brown, energy services planner at VEC.

More than 2,700 VEC members have taken advantage of incentives through VEC’s Energy Transformation Program since the co-op began offering them in 2017.

In each of the past five years, VEC has exceeded its goals for the Energy Transformation Program and helped eliminate the consumption of over 7.5 million gallons of fossil fuel. That’s the equivalent of taking over 13,000 cars off the road for one year. 

In 2022 bill credits are available  for:

  • Electric vehicles: For plug-in electric vehicles, a bill credit of $250 for purchases (new or used) and $50/year for leases; for all-electric vehicles, a bill credit of $500 for purchases (new or used) and $100/year for leases.
  • Electric vehicle charging equipment: For home Level II chargers, $250 (with additional $50 incentive if members allow VEC to communicate with the charger); and for publicly-available charging stations, $500 per connection.
  • Heat pumps: For ductless, ducted, air-to-water, and ground source heat pumps as well as heat pump water heaters, a joint incentive is available through Efficiency Vermont; a $150 per unit thermal efficiency credit is available if the system was installed in a building that meets thermal efficiency criteria.
  • Pellet stoves: For qualifying pellet stoves, a bill credit of $150, plus another $150 if the unit is installed in a building that meets thermal efficiency criteria.
  • Other machinery: For residential lawn mowers, $50; and for commercial-scale mowers and electric forklifts, $1,000.
  • New in 2022 – Heat pump pool heaters: $600 bill credit for units that meet efficiency criteria.

VEC also offers custom incentive opportunities for members who want to replace fossil fuel equipment and reduce carbon emissions, through electric service upgrades or line-extensions. These projects often serve commercial facilities like sawmills or sugaring operations, for instance. 

VEC’s bill credit program benefits the entire co-op membership – not just those who take advantage of the program - because the incentives pay for themselves through additional electric sales.

Some of the VEC incentives are in addition to other incentives and rebates, including the statewide new electric vehicle incentives (https://www.driveelectricvt.com/incentives) and the MileageSmart program (https://www.mileagesmartvt.org/) as well as potential tax incentives.

Learn more about these opportunities on VEC's Energy Transformation Programs (https://vermontelectric.coop/energy-transformation-programs) or by calling 1-800-832-2667.

About Vermont Electric Cooperative

Vermont Electric Cooperative (VEC), established in 1938, is a non-profit, member-owned electric distribution utility that provides safe, affordable, and reliable electric service to approximately 33,000 members in 75 communities in northern Vermont. Committed to a 100 percent carbon-free power supply by 2023, VEC is nationally recognized for innovative and advanced use of technology. VEC is the largest locally-owned electric distribution utility in Vermont.  www.vermontelectric.coop

Source: Johnson, VT – Vermont Electric Co-op 1.3.2022