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.
Wednesday, April 16 2014 12:34 PM EDT2014-04-16 16:34:35 GMT
It looks like our region escaped any major flooding resulting from Tuesday's heavy rains. There were localized areas of high water and damage, like a road washout on Mud Hollow Road in Kirby. Water remainsMore >>
It looks like our region escaped any major flooding resulting from Tuesday's heavy rains.More >>
Wednesday, April 16 2014 10:58 AM EDT2014-04-16 14:58:11 GMT
Teamwork between a Montgomery farmer and a corporal with the Franklin Country sheriff's department may have saved a life when they pulled off a daring rescue. A woman became trapped in her truck tryingMore >>
A Montgomery farmer and a sheriff's deputy joined forces for a daring rescue to help a woman who got trapped in her truck by rising floodwaters.More >>
Wednesday, April 16 2014 12:02 PM EDT2014-04-16 16:02:05 GMT
The floods forced Gov. Andrew Cuomo to declare a state of emergency in New York. The governor made the declaration Tuesday night. It covers six counties in northeastern of New York, including two inMore >>
The floods forced Gov. Andrew Cuomo to declare a state of emergency in New York.More >>
Wednesday, April 16 2014 11:08 AM EDT2014-04-16 15:08:35 GMT
If you thought the weather Tuesday really stunk, you weren't alone. Apparently all the rain and the rushing rivers were too much for even a beaver. WCAX Producer Diane Landry caught video Tuesday in MiltonMore >>
Apparently all the rain and the rushing rivers in our region Tuesday were too much for even a beaver.More >>
Wednesday, April 16 2014 12:09 PM EDT2014-04-16 16:09:50 GMT
If you think this spring has been filled with strange weather-- cold, then hot, then flooding, then snow-- well, we have a reminder that fluctuating weather is not all that unusual in Vermont. SheldonMore >>
If you think this spring has been filled with strange weather-- cold, then hot, then flooding, then snow-- well, we have a reminder that fluctuating weather is not all that unusual in Vermont.More >>