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Standard Offer for Qualifying SPEED Resources (Vermont)
EZFeed/Relevant Yes  +
Incentive/Active true  +
Incentive/ApplDsc Commercial  + , Industrial  + , Agricultural  + , Owners of Qualified SPEED Resources  +
Incentive/Auth2Code CVR 30 000 054. 4.300  +
Incentive/Auth2DtEnact 09/10/2006 (subsequently amended)  +
Incentive/Auth2Link http://www.state.vt.us/psb/rules/OfficialAdoptedRules/4300_SPEED.pdf  +
Incentive/Auth3Code Order Establishing A Standard-Offer Program for Qualifying SPEED Resources  +
Incentive/Auth3DtEff 2009-09-30  +
Incentive/Auth3DtEnact 2009-09-30  +
Incentive/Auth3Link http://psb.vermont.gov/sites/psb/files/7533_Order_Re_Standard_Offer_Program.pdf  +
Incentive/Auth4Code Final Order Standard Offer Price Determination for SPEED Resources  +
Incentive/Auth4DtEnact 2010-01-15  +
Incentive/Auth4Link http://www.dsireusa.org/documents/Incentives/VT36F.pdf  +
Incentive/Auth5Code Order Amending Standard Offer Rates  +
Incentive/Auth5DtEff 2012-03-23  +
Incentive/Auth5DtEnact 2012-01-23  +
Incentive/Auth5Link http://psb.vermont.gov/sites/psb/files/orders/2012/7780 Order.pdf  +
Incentive/Auth6Code S.B. 214 (Public Law 170)  +
Incentive/Auth6DtEff 2012-05-18  +
Incentive/Auth6DtEnact 2012-05-18  +
Incentive/Auth6Link http://www.leg.state.vt.us/docs/2012/Acts/ACT170.pdf  +
Incentive/Auth7Code Order to Establish Prices and Programmatic Changes  +
Incentive/Auth7DtEnact 2013-03-01  +
Incentive/Auth7Link http://psb.vermont.gov/sites/psb/files/orders/2013/2013-03/7873&7874 Order Re Prices and Program Changes.wpdpd_.pdf  +
Incentive/AuthCode 30 V.S.A. § 8001 et seq.  +
Incentive/AuthDtEnact 06/15/2004 (subsequently amended)  +
Incentive/AuthLink http://www.leg.state.vt.us/statutes/sections.cfm?Title=30&Chapter=089  +
Incentive/ContAddr P.O. Box 1938  +
Incentive/ContDept VEPP, Inc.  +
Incentive/ContEmail jspencer@veppi.org  +
Incentive/ContPhone (802) 362-0748  +
Incentive/ContPlace Manchester Center, Vermont  +
Incentive/ContWebsite http://vermontspeed.com  +
Incentive/ContZip 05255  +
Incentive/EligSysSize Maximum system capacity is 2.2 MW; overall cap of the standard offer program is 127.5 MW  +
Incentive/EnergyCat Renewable Energy Incentive Programs  +
Incentive/EquipReqs Effective date: 09/30/2009  +
Incentive/ImplSector State/Territory  +
Incentive/MaxInc Varies by technology  +
Incentive/Name Standard Offer for Qualifying SPEED Resources  +
Incentive/OwnRenewEnrgyCrdts RECs are transferred to the utility, except in the case of farm methane generators (who maintain RECs)  +
Incentive/ProgAdmin VEPP, Inc.  +
Incentive/StartDate September 30, 2009  +
Incentive/StartDateString 2009-09-30  +
Incentive/Summary '''''Note: The first RFP for the new compe
'''''Note: The first RFP for the new competitive award process has passed; applications were accepted through May 1, 2013. See the program web site for information regarding future solicitations.''''' In May 2009, Vermont enacted legislation requiring all Vermont retail electricity providers to purchase electricity generated by eligible renewable energy facilities through the [http://www.dsireusa.org/incentives/incentive.cfm?Incentive_Code=VT04R&re=1&ee=1 Sustainably Priced Energy Enterprise Development (SPEED) Program] via long-term contracts with fixed standard offer rates. This policy, commonly known as a "feed-in tariff," is intended to provide a reasonable return on investment to renewable energy facility developers, thereby spurring deployment of renewable energy.<br> <br> Eligible renewable energy facilities are certain qualifying SPEED resources (including solar, wind, biomass, landfill gas, farm methane derived from agricultural operations and energy crops, and hydropower facilities) up to 2.2 megawatts (MW) in capacity that are commissioned on or after September 30, 2009. SPEED projects must apply for and be granted a "Certificate of Public Good." Projects 150 kW and less may apply for the "Certificate of Public Good for [http://dsireusa.org/incentives/incentive.cfm?Incentive_Code=VT02R&re=0&ee=0 Net Metered Systems]." Eligible wood biomass resources may only receive the standard offer if the plant's system efficiency is 50% or greater.<br> <br> In 2013, the Vermont Public Service Board (PSB) established a new market-based pricing mechanism per S.B. 214 (Act 170). Beginning in 2013, contracts are awarded though a Request for Proposal (RFP) process, with RFPs released annually on April 1. The PSB set avoided-cost rates to be used as annual per-kWh cost caps for contracts. Contracts will be selected competitively based on the proposed $/kWh structure. The full avoided-cost schedule is available in the RFP and [http://vermontspeed.com/avoided-cost-price-caps/ here]. The RFPs will be capped at 5 MW capacity each year from 2013-2015, 7.5 MW each year from 2016-2018, and 10 MW each year in 2019 and 2020. Five hundred kW of this cap is reserved for utilities each year from 2013 to 2015; 1.125 MW is reserved in 2016-2018, and 2 MW is research each year in 2019 and 2020. The long-term contracts are 10 to 25 years for solar and 10 to 20 years for all other technologies. As a condition of the standard offer, the renewable energy credits (RECs) generated are transferred to the retail electric provider that purchases the power from the renewable energy facility, except in the case of a facility using methane from agricultural operations. In that case, the plant owner retains ownership of the RECs and may sell them if desired. Retail electric providers and owners of renewable energy facilities may enter into voluntary contracts with different terms than the standard offer contract terms at their discretion. The PSB is required to establish standard offer contract and pricing for existing hydroelectric plants by January 15, 2013. (The capacity of existing hydro will not count toward the cumulative program cap.)<br> <br> The PSB issues annual reports on the SPEED Standard Offer Program to the legislature every January. The [http://psb.vermont.gov/sites/psb/files/8005n_Standard_Offer_Report.pdf first report] of the standard offer to the legislature in January 2011. The [http://www.leg.state.vt.us/reports/2012ExternalReports/274612.pdf second report] was issued in January 2012. Legislation enacted in May 2012 (S.B. 214 / Act 170) increased the Standard Offer Program to 127.5 MW. Starting April 1, 2013, there will be annual increases to the program cap, until the 127.50 MW cumulative capacity is reached. The schedule for annual increases is as follows, and may be adjusted to account for greenhouse gas reduction credits, as provided for in the law: * April 1, 2013: 55 MW * April 1, 2014: 60 MW * April 1, 2015: 65 MW * April 1, 2016: 72.5 MW * April 1, 2017: 80 MW * April 1, 2018: 87.5 MW * April 1, 2019: 97.5 MW * April 1, 2020: 107.5 MW * April 1, 2021: 117.5 MW * April 1, 2022: 127.5 MW
, 2021: 117.5 MW * April 1, 2022: 127.5 MW  +
Incentive/TechDsc Photovoltaics + , Landfill Gas + , Wind + , Biomass + , Hydroelectric energy + , Municipal Solid Waste + , Anaerobic Digestion + , Small Hydroelectric +
Incentive/Terms Long-term contracts of 10-25 years for solar and 10-20 years for other technologies  +
Incentive/Type Performance-Based Incentive +
OpenEI/PageDescription Standard Offer for Qualifying SPEED Resources: energy incentive program.  +
OpenEI/PageKeyword Energy Incentives  + , Vermont  + , Performance-Based Incentive  + , VEPP  + , Inc.  +
Place Vermont: Energy Resources +
Website http://vermontspeed.com/standard-offer-program  +
Categories Financial Incentive Programs , Pages with reference errors , Incentive with Contacts , Incentive with Authorities
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00:52:44, 13 February 2015  +
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