VERMONT RENEWABLE ENERGY GOALS
20 % of total statewide electric retail sales during year commencing January 1, 2017 must be generated by SPEED resources that constitute new renewable energy.
Total Renewables Goal
55 % of each retail electricity provider’s annual electric sales during the year beginning January 1, 2017, increasing by an additional 4 % each third January thereafter, until reaching 75 % on January 1, 2032, must consist of total renewable energy.
VERMONT RENEWABLE ENERGY PROGRAMS
Vermont’s Sustainably Priced Energy Development (SPEED) Program was enacted by the Vermont Legislature in June 2005 in 30 V.S.A. § 8005 and § 8001. The goal of the SPEED program is to promote the development of in-state energy sources which use renewable fuels (SPEED resources) to ensure that to the greatest extent possible the economic benefits of these new energy sources flow to the Vermont economy in general and to the rate paying citizens of the state in particular.
SPEED Standard Offer Program
In May of 2009, 30 V.S.A. § 8005 was significantly amended to create the feed-in tariff Standard Offer Program and Standard Offer Contracts for SPEED resources of less than 2.2 MW.