Green Mountain Power Proposes "Solar Rates" to
Spur Vermont's Solar Energy Market
May 15 - MARKET WIRE
Green Mountain Power Corp. today announced a groundbreaking new approach to
accelerate the adoption of solar energy by Vermont homes and businesses.
In a request for a new service filed with the Vermont Public Service Board
today, Green Mountain Power proposed the adoption of solar net metered
electric rates, which are designed to make solar energy an important part of
Vermont's mix of cleaner energy sources.
Green Mountain Power Chief Operating Officer Mary Powell said renewable
energy sources like solar must play an increasing part in Vermont's energy
future.
"This proposal will make solar energy more attractive to homeowners and
businesses in Vermont," Ms. Powell said. "We are doing everything we can to
encourage the adoption of solar energy. It is good for Vermont economically
and environmentally."
Ms. Powell said such a change in the way Vermonters pay for solar energy
could help ease congestion on power lines, delay the need for new power line
construction and reduce peak energy demand in hot summer months when demand
for energy is highest.
Andrew Perchlik, Executive Director of Renewable Energy Vermont, said, "This
new service could revolutionize the solar market in Vermont. We are excited
that Green Mountain Power has taken a leadership role in promoting solar
energy in Vermont."
The program would work in conjunction with existing "net metering'' programs
in which Vermonters using solar power feed energy back into the grid when it
is not needed in the home or business. Under the new solar rates program,
customers would now be paid by Green Mountain Power for all solar energy
generated at a rate of six cents per kilowatthour above and beyond the
nearly 13 cents per kilowatt-hour net metering benefit.
"In summer, sunlight and solar electric production tend to be greatest at
the time people are calling for the most electricity through air
conditioning and other needs," Ms. Powell said. "This is a win-win for
customers and the growing solar industry in Vermont. Green Mountain Power
intends to be a leader in driving the solar energy market."
Ms. Powell said the proposal has the following benefits:
1. It helps reduce the need for fossil fuel energy sources on the New
England electric system.
2. It helps accelerate the market for solar energy by offering an attractive
rate to customers that is economical for the utility.
3. It "shaves" peak demand during high-demand, hot summer days by relying on
the sun rather than fossil fuel generation.
The new incentive rates, if approved by the Vermont Public Service Board,
would be available to all Green Mountain Power customers connected to the
electric grid.
About Green Mountain Power
Green Mountain Power (www.greenmountainpower.biz) is an electric utility
owned by Northern New England Energy Corporation, a wholly owned subsidiary
of Gaz Metro, a leading Quebec energy company with a long history of
investment in Vermont. Green Mountain Power transmits, distributes and sells
electricity and utility construction services in the State of Vermont in a
service territory with approximately one quarter of Vermont's population. It
serves approximately 94,000 customers.
For further information, please contact: Dorothy Schnure Green Mountain
Power Manager of Corporate Communications 802-655-8418.
SOURCE: Green Mountain Power |