In 2022, Vermont’s economy was ranked 50th in the United States in gross domestic product (GDP). The state’s economy is dependent on agriculture, forestry, tourism, and mining industries.
In 2015, Vermont enacted a Renewable Energy Standard requiring all utilities to sell 75% of their electricity from renewable energy by 2032.
In 2007, Vermont joined Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, and Rhode Island in the Regional Greenhouse Gas Initiative, a market-based collaborative to reduce greenhouse gas emissions.
Power Generation Capabilities
In June 2023, utilities only used renewable energy (100.0%) to generate electricity in Vermont. Hydropower and biomass are the dominant types of renewable energy used to generate electricity in Vermont.
In June 2023, the average cost of residential electricity in Vermont was 21.00 ¢ per kWh, compared to the national average of 16.11¢ per kWh.
Recent renewable energy developments in Vermont include:
- 5 MW Solar + Energy Storage Project – In October 2021, Encore Renewable Energy commissioned the Middlebury College Solar plus Storage project at a site approximately 25 miles southwest of the capital, Montpelier.
- 5 MW Solar Projects – In November 2021, Encore Renewable Energy and Vermont Electric Cooperative commissioned two new solar projects at a site approximately 30 miles northwest of Montpelier.
- 3 MW Solar Project – In March 2022, Encore Renewable Energy commissioned the Sand Hill Solar project at a site approximately 40 miles southwest of Montpelier.
- 75 MW Solar Project – In December 2021, Encore Renewable Energy commissioned the Bromley Mountain Solar project at a site approximately 75 miles south of Montpelier.
Hydropower is Vermont’s largest source of electricity. However, climate change has resulted in a steady decrease in annual rainfall from 2010 to 2020, causing a 14.5% decrease in the state’s hydroelectric power output.
Vermont’s utilities are now investing in new solar and wind projects to improve the state’s power grid resiliency. The Green Mountain State is committed to generating 100% of its electricity from clean green renewable energy.
Website – “Our Energy Conundrum”
Jack Kerfoot is a scientist, energy expert, and author of the book FUELING AMERICA, An Insider’s Journey and articles for The Hill, one of the largest independent political news sites in the United States. He has been interviewed on over 100 radio, podcast, and television stations from New York City to Los Angeles on numerous energy issues.