Efficiency Vermont's Accomplishments
Energy Efficiency Savings
As a result of energy efficiency investments made in 2011, Efficiency Vermont has saved approximately 101 million kWh. In 2011, energy efficiency provided 1.8 percent of Vermont's electric supply requirements, and for the third time, energy efficiency savings completely offset electric energy load growth.
The energy efficiency investments made by Efficiency Vermont lead to financial savings for all Vermonters. Electric rates are a reflection of utility costs. When Vermonters save energy, utilities generally need to buy less energy. As a result, utility costs associated with buying energy are less than they otherwise would be, and therefore the rates paid by all consumers are less than they otherwise would be. Efficiency Vermont has consistently spent less to purchase each kilowatt-hour ("kWh") of energy efficiency than it would have cost Vermont's utilities to purchase the same kWh in the New England wholesale power market and deliver it to customers.
For example, in 2011, the levelized cost of Efficiency Vermont's total expenditures was approximately 1.6 cents per kWh. To supply the same energy and capacity over the average 10-year life of efficiency measures installed in 2011, Vermont electric utilities would have to spend approximately 11.2 cents per kWh, based on current values of avoided costs.
The customers who have worked with Efficiency Vermont experience additional significant savings as a result of their reduced electricity consumption.
In total, Vermonters will save more than $63 million over the life of the efficient products and practices Efficiency Vermont put in place in 2011.
Heating and Process Fuel Efficiency Savings
Beginning in 2009, Efficiency Vermont began combining its Forward Capacity Market revenues with Vermont's Regional Greenhouse Gas Initiative proceeds to offer a variety of services and incentives that result in improved building performance and heating system efficiency, thereby creating jobs, saving Vermonters money and reducing Vermont's greenhouse gas emissions.
These same energy efficiency investments will also benefit Vermont's environment by, over their lifetime, eliminating hundreds of tons of air pollutants and over four-hundred-thirty-thousand tons of carbon dioxide.
Efficiency Vermont Highlights
Reviews of Efficiency Vermont's Costs and Savings
Efficiency Vermont's costs and savings are subject to rigorous review and verification through an independent monthly review of all invoices, an annual independent financial audit, an annual savings verification process conducted by the Vermont Department of Public Service, and by a legislatively-mandated independent audit of savings and cost-effectiveness that occurs every three years. See the Board's webpage on oversight activities regarding the EEU Program for additional information about these activities.