The U.S. Department of Agriculture has awarded $46 million to the Vermont Energy Investment Corp. (VEIC) to improve energy efficiency and increase use of renewable energy in rural areas of the state. USDA Secretary Tom Vilsack is quoted in the release as saying that the aid will help spread costs across 20 years for industrial, agricultural and commercial entities as well as residential energy users in the state.
The release says that the VEIC will operate and administer the program through Efficiency Vermont, which is a statewide organization that focuses on rural areas. The funding, Vilsack said, will reduce upfront costs, spread costs over a longer two decades and make financing more affordable.
In October, 2015, The USDA’s Biofuels Infrastructure Program granted a total of $100 million to 21 states. Matches by private entities and the states brought the total investment to $210 million. The goal is to almost double the number of fueling pumps nationally that offer renewable fuel.