Gov. Peter Shumlin and lawmakers unveiled a plan Wednesday to help support renewable and energy efficiency projects in the private sector.
The idea is consolidate existing state energy loans and leverage state money to provide up to $10 million in low-interest loans for businesses. Loans could be upward of $300,000 and could be used for anything from a solar project to weatherization.
The Vermont Economic Development Authority would oversee the effort.
"We already do some energy lending and it's kind of scattered in various programs, so this will really allow us to put all the programs under one umbrella called the Clean Energy Loan Fund," said Jo Bradley of VEDA.
"The market right now really isn't recognizing the savings you're getting from this efficiency. Our hope is that working with VEDA and with the traditional banks, that we can quicken the pace of efficiency investments and renewable energy investments so that we get them online and we have experience so that private financing will be more likely to occur," said Rep. Shap Smith, D-Vt. House Speaker.
Officials say several other states including New York and Connecticut have launched similar clean energy loan programs.
Sunday, March 9 2014 10:10 AM EDT2014-03-09 14:10:32 GMT
Two New Hampshire communities damaged by storms are getting federal help. Lincoln will get more than $4.5 million for a bridge repair from Tropical Storm Irene. FEMA also awarded Lebanon more than $3More >>
Two New Hampshire communities damaged by storms are getting federal help.More >>
Sunday, March 9 2014 10:09 AM EDT2014-03-09 14:09:58 GMT
This morning, Channel 3 has learned there will NOT be a bus strike Monday morning in Chittenden County. CCTA officials told us in a statement that after 19 hours of negotiations that went into the morningMore >>
This morning, Channel 3 has learned there will NOT be a bus strike Monday morning in Chittenden County.More >>
Sunday, March 9 2014 10:09 AM EDT2014-03-09 14:09:06 GMT
A Ken Burns documentary featuring Vermont students will have its premiere in Brattleboro. The film is called "The Address". It follows the 50 boys at the Greenwood School in Putney who have learningMore >>
A Ken Burns documentary featuring Vermont students will have its premiere in Brattleboro.More >>
Sunday, March 9 2014 10:03 AM EDT2014-03-09 14:03:58 GMT
New Hampshire police say a man is recovering after he accidentally shot himself. Claremont police tell us that the man was cleaning his gun Saturday night when it went off. He was taken to the hospitalMore >>
New Hampshire police say a man is recovering after he accidentally shot himself.More >>
Sunday, March 9 2014 9:59 AM EDT2014-03-09 13:59:53 GMT
This towering ice fortress is dazzling visitors to Loon Mountain in New Hampshire. "Yeah, this is a wow moment," says visitor Millie Gabriel. "It's an incredible feeling to see people really light upMore >>
If you're ready to see one more beautiful thing before we say hello to spring, then we've found the spot for you.More >>
Sunday, March 9 2014 9:53 AM EDT2014-03-09 13:53:41 GMT
When the Wild Center in Tupper Lake was looking at maple education programs, they hit a bit of a snag. "I took a survey of the 31 acres here at the museum and we only had one maple tree on the property,"More >>
The Community Maple program has been going for three years now, allowing people to take the sap from their backyard and learn how to turn it into syrup.
Sunday, March 9 2014 9:44 AM EDT2014-03-09 13:44:12 GMT
We've got some tasty ideas for this second Sunday in March! PANCAKE BREAKFAST This year is the 20th annual Franklin Fire Dept. Pancake breakfast at the Franklin Central School. They serve more than 2,000More >>
We've got some tasty ideas for this second Sunday in March!More >>
Saturday, March 8 2014 9:49 PM EST2014-03-09 02:49:49 GMT
The Burlington Yoga Conference began Saturday at UVM's Davis Center. The event gives participants a chance to connect the mind body and soul through workshops they may not have access to on a daily basis.More >>
The Burlington Yoga Conference began 6 years ago and has become a staple in the community.More >>