Vermont
Why Go Solar in the State of Vermont?
Vermont renewable energy sectors have struggled in the past. The state has gone an extra mile support and promotes solar energy production and consumption. Using different incentives, Vermont aims to make solar more attractive and affordable. The incentives include Federal Solar Tax Credit, net metering, generous tax breaks and community shared solar. Vermont solar panel system can make you energy independent. Moreover, you can save you a lot of cash over its life time. The state has made a dedicated effort to make investing in solar an easy choice for energy-conscious consumers.
National solar ranking | 30th (41st in 2020) |
Solar Installed (MW) | 379.0 |
Solar installed to power | 68,560 homes |
Percentage of State’s Electricity from Solar
| 14.03% |
Solar Jobs | 60 |
Total Solar Investment in State | $722 million |
Prices have fallen | 45% over the last 5 years |
Growth Projection and Ranking
| 260 MW over the next 5 years (ranks 47th) |
Number Of Installations | 8,971 |
Is going solar worth in Vermont?
The Vermont solar panel system installation ranges from $12,962 to $17,538. The cost per watt ($/W) ranges from $2.59 to $3.51. The average Vermont commercial residential electricity rate is approximately 43% higher than the national average. The Vermont solar panel user can enjoy the return on investment in 10.01 years. Moreover the state had more than 600,000 houses had blackouts in the past decade.
Many users prefer cash purchase pay for solar, which delivers a long-term value to the customers. The Vermont solar panels prices fell 34% during the past five years. The users can opt for different financing options to afford installations, including solar leases, PPAs, and solar loans.
What solar panels should I install in Vermont?
The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panel’s performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs.
How much energy can users generate in Vermont?
Your solar panel performance depends on the quality and quantity of sunlight directly hitting your solar panel. Vermont is one of the sunniest states in the U.S. On average, Vermont has 167 sunny days annually. The state is known for its rain, sleet, hail that falls to the ground, and snow. The other factors which can have an impact on the Vermont solar panel system include the following:
- Shading
- Panel orientation
- Panel angle
Vermont Weather Highlights | |
Summer High | The July high is around 79 degrees |
Winter Low | The January low is 6 |
Rain | Averages 43 inches of rain a year |
Snow: | Averages 86 inches of snow a year |
Rebates and incentives
The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This good incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10% of a retail solar system cost from their taxes beyond 2023. Apart from the federal ITC, Vermont offer additional incentives for going solar, including the following:
Federal Solar Investment Tax Credit | 26% federal solar tax credit is available for home solar systems installed by December 31, 2022 |
Property Tax Exemption for Residential Solar Systems | Solar System Property Tax Exemption |
Other Programs | Variable (Net Metering) |