- 2009 Qualified Renewable Generation: Effectively 0% (202,620 MW generating; 574,141 generating and capacity; 5,743,863,352 total sales)[i]
- 2017 Renewable Goal: 20%
Eligible Resources: Solar Water Heat, Solar Thermal Electric, Photovoltaics, Landfill Gas, Wind, Biomass, Hydroelectric, Geothermal Electric, Anaerobic Digestion, Fuel cells using renewable fuels.[ii] To qualify as a SPEED project, the facility must:
- Be located in Vermont,
- Produce energy using renewables or qualifying CHP
- Come into service after December 31, 2004.
- Apply for and be granted a “Certificate of Public Good.”[iii]
Renewable portfolio history: Vermont’s Sustainably Priced Energy Enterprise Development (SPEED) Program was created by the Vermont Legislature in 2005.[iv] It is not an RPS or goal, which promotes renewable energy development by encouraging long-term contracts for electricity from renewable sources.[v] Legislation made by Vermont in 2008 established the goal of 20% of total statewide electric sales be made of renewable sources by June of 1017.[vi] Minimum obligation: (1) any increase in retail electric sales between 2005-2012 that is also at least 5% of 2005 sales; OR (2) 10% of retail sales in 2005.
Credit Trading: Yes
Noncompliance penalty: None
Electricity Price Ranking: 10th Highest[vii]
- 13.08 cents/KWh in Vermont
- 7.67 cents/KWh in non-mandated states
[i]Biennial Report to Vermont Legislature (Feb. 2010), http://psb.vermont.gov/sites/psb/files/publications/Reports%20to%20legislature/SPEED_biennial__report_2009_and_appendix.pdf.
[iii] Database of state Incentives for Renewable Electricity, Vermont; http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=VT04R&re=1&ee=1.
[iv] Vermont Statues, (June 14, 2005); 30 V.S.A. § 8001; http://www.leg.state.vt.us/statutes/fullsection.cfm?Title=30&Chapter=089&Section=08001
[v] Vermont Statues, (June 14, 2005); 30 V.S.A. § 8001; http://www.leg.state.vt.us/statutes/fullsection.cfm?Title=30&Chapter=089&Section=08001
[vi]Vermont Legislature, (March 2008); S.B. 209; http://www.leg.state.vt.us/docs/legdoc.cfm?URL=/docs/2008/bills/passed/S-209.HTM.
[vii] EIA, Electric Power Monthly, Table 5.6.B., Average Retail Price of Electricity, June 2010, Released Sept. 15, 2010, http://www.eia.doe.gov/cneaf/electricity/epm/table5_6_b.html.