Agricultural Energy Loan Program

Program Overview

Implementing Sector	State
Category	Financial Incentive
State	Vermont
Incentive Type	Loan Program
Web Site	Vermont Agricultural Credit Corporation (VACC) - Agricultural Energy Loan Program
Administrator	Vermont Agricultural Credit Corporation (VACC)
Eligible Renewable/Other Technologies	Geothermal Electric, Solar Thermal Electric, Solar Photovoltaics, Wind (All), Biomass, Hydroelectric, Combined Heat & Power, Landfill Gas, Geothermal Direct-Use, Anaerobic Digestion, Fuel Cells using Renewable Fuels
Eligible Efficiency Technologies	Equipment Insulation, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Air conditioners, Heat recovery, Steam-system upgrades, Compressed air, Programmable Thermostats, Caulking/Weather-stripping, Duct/Air sealing, Building Insulation, Windows, Doors, Siding, Roofs, Agricultural Equipment, Reflective Roofs, LED Lighting
Applicable Sectors	Agricultural
Maximum Loan	$5,000,000
Loan Term	Determined on a case-by-case basis
Interest Rate	Variable Interest Rates

Summary

The Agricultural Energy Loan Program (AELP), created through Act 87 in 2013, is administered by the Vermont Agricultural Credit Corporation (VACC). The AELP provides loans to agriculture- or forest-product-based companies for renewable energy and energy efficiency projects.

The maximum loan amount is $5,000,000, and the percentage of the project funded by VACC is negotiable. Loans are provided at variable rates, although fixed rates may be available in some circumstances; current rates can be found here. Loan terms are determined on a case-by-case basis.

Fees associated with AELP loans include a 1% commitment fee ($5,000 maximum); a $30 credit report fee; if applicable, an appraisal fee; a $900 approximate fee for independent project review; if required an $18 flood insurance certification; and document recording/discharge fees.