April 19, 2010 – Burlington POWER program on it’s way to your door!

Last year, the Vermont legislature authorized municipalities to establish Clean Energy Assessment Districts (CEADs) to facilitate investment in energy-related improvements and to create green collar jobs. Burlington’s Clean Energy Assessment District, named the POWER Program (Property Owners Win with Efficiency and Renewables) was formally approved on March 2, Town Meeting Day. Seventy-seven percent of voters supported the measure. An interdepartmental team with representatives from City Government and the Vermont Energy Investment Corporation (VEIC) has been meeting regularly over the past six months to create the program framework.

The City is currently assessing different financing options for a three year pilot program, after which it could look for a general obligation bond based on the success of the pilot. The cost of the CEAD program is borne solely by the participating property owners and not as an added cost to city services. Repayments are calculated to recover the costs of the program over a term that is less than the useful life of the installed efficiency measures or renewable energy project, weighted by cost.

Burlington Electric Department (BED) will operate the program for City property owners. BED will work closely with customers and contractors to explain the program in detail and make participation as seamless as possible. Efficiency Vermont is currently working with other interested communities around Vermont.

BED has been offering energy efficiency programs for many years, and we have heard from our customers the need for more creative ways to help pay for all types of energy-related building improvements. This program will allow for longer participant re-payment terms, which may encourage more customers to undertake energy efficiency projects.

A complete list of eligible energy efficiency and renewable measures (along with complete ACT 45 language) can be found www.burlingtonelectric.com/page.php?pid=141&name=Burlington%20POWER%20Program%20(CEAD)