Vermont solar panel scheme means regressive taxation

Vermont has "progressively" implemented ambitious subsidization of "net-metering" programs, whereby 1) taxpayer funds are allocated via capital tax credits to "incentivize" the acquisition of residential solar panel systems, and 2) an additional subsidy is procured through guaranteed rates of payment to those panel-owners for excess generated electricity that is sold back to the utility companies.  These incentivizing "subsidies" are withdrawn from taxpayer pockets, and from the electric rates paid by "non-participating" electric utility customers. A March 4 hearing exposed the gross disparity and market perversion of this regulatory scheme.  A local utility (Washington Electric cooperative, Inc., or WEC) requested regulatory approval from Vermont's Department of Public Utilities of a 5.95% rate increase on electric rates effective January 1, 2020, of which 28% (or 1.67% out of the 5.95% increase) was...(Read Full Post)
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