Warm Home Bonds
Neale Lunderville, Burlington Electric Department
“Warm Home” bonds would fund $100,000,000 in weatherization work for low-income Vermonters over the next three years – or about 10,000 homes. It would use about $7.5M in Gross Receipts Tax now directed to the Wx program to fund a 20-yr revenue bond. As more low-income homes are weatherized the LIHEAP need should diminish, and Vermont would ask Feds to use 25% of LIHEAP money for Wx (vs current 15%)
- Current annual spending on Wx (net of admin expenses) is $9.5M, which equates to ~1,000 homes per year.
- Fundamentally, weatherization is a capital investment with a quick rate of return. Instead of dripping in annual appropriations, State should use Wx funds to bond for a weatherization surge between now and 2020.
- “Warm Home” bonds would fund $100,000,000 in weatherization work for low income Vermonters over the next three years – or about 10,000 homes.
Submitted by: Neale F. Lunderville, General Manager, Burlington Electric DepartmentEAN Pitch 48 - Warm Home Bonds - Neale Lunderville