Green Mountain Power Corp. has received regulatory permission from the Vermont Public Service Board to provide greater incentives for its customers to install solar power systems.
The Vermont-based electric utility, owned by Northern New England Corp. will begin paying commercial and residential owners of solar systems six cents per kilowatt hour above the 12 to 13 cents per kilowatt hour required by the state’s net metering law.
Net metering applies to excess power generated by renewable energy systems and not used by the system’s owner. Through its SolarGMP program, Green Mountain Power will pay a higher rate for this electricity when it is connected to the grid.
"We are so pleased that our customers will now receive the appropriate financial incentive to install solar generation at their homes and businesses," says Mary Powell, incoming president and CEO of Green Mountain Power.
The new incentive rates are available to all Green Mountain Power customers connected to the electric grid–or roughly a quarter of the state’s population.
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