Loading NuWatt Energy...
We use your location to provide localized solar offers and incentives.
We serve MA, NH, CT, RI, ME, VT, NJ, PA, and TX
Loading NuWatt Energy...
Your Vermont utility determines your heat pump operating costs and income bonus eligibility. GMP ($0.2146/kWh, 75% of VT) offers $2,000 income bonuses and TOU rates. VEC ($0.2348, 10%) offers $1,000 VPPSA bonus. BED ($0.1837, 5%) has the lowest rates but no income bonuses.
| Feature | GMP | VEC | BED |
|---|---|---|---|
| Standard Rate | $0.2146/kWh | $0.2348/kWh | $0.1837/kWh |
| TOU Off-Peak Rate | $0.1452/kWh | Not available | Not available |
| TOU Peak Rate | $0.3407/kWh | N/A | N/A |
| Market Share | ~75% | ~10% | ~5% |
| Income Bonus | $2,000/condenser | $1,000/project | $0 (excluded) |
| Income Eligibility | At or below 80% AMI | At or below 80% AMI | N/A |
| Annual HP Cost (4,700 kWh) | $1009 | $1104 | $863 |
| GMP TOU Off-Peak Cost | $682 | N/A | N/A |
Most of Vermont — Burlington suburbs, Montpelier, Rutland, Brattleboro, Bennington, and surrounding areas. Largest VT utility serving ~75% of the state.
Market Share
75%
Income Bonus
$2,000
Annual HP Cost
$1,009
$2,000 per condenser for income-eligible customers (≤80% AMI). Applied in addition to standard EVT rebates. GMP customers get the highest income bonus in VT.
TOU Rates Available: Off-peak $0.1452/kWh (nights/weekends), Peak $0.3407/kWh (weekday afternoons). Off-peak heating reduces annual HP cost to just $682.
Rural northern and central Vermont — Johnson, Morrisville, Hyde Park, Derby, and surrounding communities. Part of VPPSA group.
Market Share
10%
Income Bonus
$1,000
Annual HP Cost
$1,104
$1,000 VPPSA income bonus ($800 from VPPSA + $200 from EVT) for income-eligible customers. Smaller than GMP bonus but still significant.
City of Burlington only — municipally owned utility. 100% renewable electricity since 2014. Lowest rates in VT.
Market Share
5%
Income Bonus
$0
Annual HP Cost
$863
BED customers are EXCLUDED from EVT income bonuses. BED operates independently as a municipal utility and does not participate in the EVT income-qualified bonus program.
BED ($0.1837/kWh)
Burlington Electric has the lowest standard rate and 100% renewable electricity since 2014. Annual HP cost: $863. However, no income bonuses available. Best for standard-income customers who prioritize low operating costs.
GMP ($2,000 bonus)
GMP offers the largest income bonus at $2,000 per condenser for households at or below 80% AMI. Combined with TOU off-peak rates ($0.1452/kWh), GMP provides the best total value for income-eligible households.
GMP TOU ($0.1452/kWh)
GMP's TOU off-peak rate is the lowest available rate in VT at $0.1452/kWh — even lower than BED. Since most heating occurs during off-peak hours, TOU can reduce annual HP cost to just $682. Available to all GMP customers.
VEC ($1,000 bonus)
VEC and other VPPSA members have the highest standard rates ($0.2348/kWh) but offer a $1,000 income bonus. For income-eligible rural VT customers, the bonus helps offset higher operating costs. Annual HP cost: $1104.
GMP offers a battery storage program that pairs well with heat pumps. GMP customers can use a home battery (like Tesla Powerwall) to store cheap off-peak electricity and use it during peak hours — reducing both heating costs and grid strain. GMP also offers battery leasing programs. This integration is not available from VEC or BED.
For heat pump owners on GMP TOU rates, adding a battery can further optimize energy costs by shifting all heating electricity to off-peak pricing.
Federal 25C Tax Credit: Expired December 31, 2025. $0 available regardless of utility. EVT rebates ($2,200 ducted, $475/head ductless) are available to all VT utility customers. Income bonuses vary by utility as described above.
Burlington Electric Department (BED) has the lowest standard rate at $0.1837/kWh, making heat pump operating costs the cheapest in VT. However, BED customers are excluded from income bonuses. For income-eligible customers, GMP offers the best overall value with a $2,000/condenser income bonus despite higher rates ($0.2146/kWh). GMP also offers TOU rates with off-peak at $0.1452/kWh.
GMP offers a Time-of-Use (TOU) rate with off-peak pricing of $0.1452/kWh (nights, weekends) and peak pricing of $0.3407/kWh (weekday afternoons). Since most heat pump heating occurs during off-peak hours (evenings, nights, mornings), TOU can significantly reduce your heating costs — effectively a 32% discount vs the standard rate for off-peak heating.
Burlington Electric Department (BED) is a municipally-owned utility that operates independently from the statewide EVT system. BED runs its own efficiency programs separate from EVT. While BED customers can still receive standard EVT rebates ($475/head, $2,200 ducted), they cannot access the EVT income-qualified bonuses that GMP and VPPSA customers receive.
VPPSA (Vermont Public Power Supply Authority) member utilities like VEC offer a $1,000 income bonus ($800 from VPPSA + $200 from EVT) per project. GMP offers $2,000 per condenser. The GMP bonus is larger and per-condenser (not per-project), making it more generous for all system types.
Green Mountain Power (GMP) serves approximately 75% of Vermont customers, covering most of the state including Burlington suburbs, Montpelier, Rutland, Brattleboro, and Bennington. VEC (Vermont Electric Cooperative) serves about 10% in rural northern and central VT. BED serves about 5% (City of Burlington only). The remaining 10% is served by smaller municipal and cooperative utilities.
Your utility affects operating costs but not equipment choice. All VT installations require cold-climate rated equipment regardless of utility. The main differences are: (1) annual operating cost varies by rate, (2) income bonus amount varies by utility, and (3) GMP's TOU rate provides an additional cost-saving opportunity not available from VEC or BED.
No, because the federal 25C tax credit expired December 31, 2025 and is no longer available to any Vermont homeowner regardless of utility. Your utility only affects EVT rebate eligibility and income bonus amounts.
No. Vermont utilities have defined service territories. You cannot switch from VEC to GMP or vice versa. Your utility is determined by your physical location. However, if you are a GMP customer, you can opt into TOU rates to reduce your heat pump operating costs.
Whether you are on GMP, VEC, or BED, NuWatt Energy helps you maximize savings with the right heat pump system and rebate strategy for your utility.