VLITE will use its dividend income from VELCO — estimated at $1 million per year — to fund projects and initiatives that serve low income Vermonters and further energy policies that address Vermont’s Comprehensive Energy Plan.
The recommended approach to VLITE’s spending plan for fiscal year 2013 is to advance spending in two phases, Phase #1 – spend funding on projects that directly impact Vermonters most in need today and Phase #2 – explore future spending options for the remaining funding in fiscal year 2013. VLITE has met with approximately thirty or more Vermonters involved in the creation, distribution and efficiency of electrical usage in Vermont. It included members of the VLITE board, VLITE Representatives to the VELCO Board, electric utilities GMP/CVPS, Burlington Electric, Stowe and Washington County Electric, VEIC, VELCO, Energy Action Network, Renewable Energy Vermont, other nonprofit and for profit energy groups and/or providers, legislators, representatives of the Administration and others and asked them what they think is the most critical electrical need in Vermont. The proposed spending plan is a consensus of their responses.
Phase #1 (Solar furnaces/ water systems, efficiency coaches, MARS, VFEP, removal of asbestos contaminated vermiculite from multi- family housing) is consistent with the federal funding provided to Vermont in the recent stimulus funding. The proposed VLITE Phase #1 mirrors projects recently approved by the State of Vermont and the United States Department of Energy as vital to Vermonters.
Phase #2 will represent the opportunity to look toward the future and explore creative ways to change how Vermonters address Vermont’s Comprehensive Energy Plan.