Vermont’s Outlook is Good in the New Green Economy

MONTPELIER, Vt. (May 28, 2009) – With passage of first-in-the-nation renewable energy legislation, Vermont once again is leading the way to a greener economy, groSolar CEO Jeff Wolfe said today.

The Vermont General Assembly passed – over the objections of Gov. Jim Douglas – the first state-wide Feed-in-Tariff (FiT) to promote development of renewable energy. Governor Douglas opposed many sections of the bill, but allowed the Vermont Energy Act of 2009 to become law without his signature.

Wolfe touted the bill’s passage as an enormous victory for the Legislature and the state. “We thank many legislators, especially in the leadership, for their hard work in passing this legislation,” Wolfe said. “While the process was difficult, Vermont can be proud that it is addressing job creation, energy supply, and climate change in a fiscally responsible manner.

Wolfe is currently in Germany attending InterSolar, the world’s largest solar expo. “This bill provides an economic engine for Vermont today and into the future,” he said. “This bill supports rapid broad-based renewable energy development, including solar energy. The rates contemplated in the bill are equal to or below current wholesale costs for peak power, which should result in an economic win for Vermont on every front.”

The bill provides several methods to ensure accountability and appropriate costs, and has a low cap on the total amount of renewable energy allowed under the program. The bill also has provisions for a new local-option loan program for Vermont homeowners of all income levels, as well as increased funding to the existing Vermont Small Solar and Wind program.

groSolar, working with Renewable Energy Vermont and other stakeholders, was instrumental in moving the bill forward.

“groSolar has several projects under consideration for development at this time, and is working with several equipment suppliers and land owners to move these projects forward as fast as the legislation allows to generate clean, Vermont-based renewable energy,” Wolfe said.

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About groSolar
groSolar is North America’s premier distributor, installer and integrator of solar energy solutions for residential and commercial installations. Founded in 1998, groSolar is the largest 100 percent U.S.-owned distribution company in the solar industry. The company has offices and warehouses across the continent, distributing solar electric and solar hot water systems from offices in VT, NJ, NY, CT, MA, MD, DE, PA, CO, MT, and CA. groSolar integrates components from leading solar manufacturers including Evergreen Solar, PanelClaw, Motech, Heliodyne, SMA, Fronius and UniRac into simple solar energy solutions for customers that generate clean, reliable energy for decades. groSolar is a mission-driven company dedicated to providing high quality solar energy solutions and whole energy appreciation. groSolar’s venture capital investors include NGP Energy Technology Partners, SJF Ventures, and Calvert Social Investment Fund. Learn more at groSolar.com or call 800.374.4494 from 8am–5pm EST.