The Vermont Public Service Department has awarded the contract to operate the Vermont Small Scale Renewable Energy Incentive Program (SSREIP) to VEIC. The program, which has been operated by VEIC's Renewable Energy Resource Center since 2003, provides information, financial incentives, and technical project review to Vermont homeowners and businesses looking to install renewable energy systems. VEIC also provides program design and review services as part of its scope of work.
The SSREIP has been Vermont's premier resource for supporting the development of small-scale, distributed renewable energy generation projects for 10 years. Over that period of time, it has contributed to the development of nearly 3,500 wind power, solar photovoltaic and solar hot water renewable energy projects. The economic activity supported by this work is significant: the combined value of these installed systems totals just over $99 million.
The program is designed to place a high premium on leveraging limited public funds for maximum impact. Every $1 of incentives provided by the SSREIP to date has leveraged an additional $5.23 in funding from other sources. Funding for the program comes from Vermont's Clean Energy Development Fund.