Voters in Burlington, Vermont, this month overwhelmingly approved a proposed $20 million Burlington Electric Department Net Zero Energy and Grid Reliability Revenue Bond, with a margin of 79.6% in favor.
The bond would fund additional investments in key priorities for BED and the community through the end of this decade, including:
- Boosting grid capacity to 90 megawatts (from 80 MW, with a current summer peak of 65 MW) to handle even more EVs, heat pumps, geothermal systems, electric buses, and other beneficial electrification measures;
- Supporting strong grid reliability, which long has been the number one priority for BED customers;
- Completing technology systems upgrades to enable more dynamic rates that reduce peak energy usage and make electric heating and transportation more affordable;
- Bringing 200 new EV charging ports, including 47 fast chargers, to Burlington by providing matching funds for a $4.891 million Charging and Fueling Infrastructure Program grant from the U.S. Department of Transportation Federal Highway Administration—the first and only such grant in the State of Vermont;
- Adding to the BED fleet 12 new EVs, including a second all-electric bucket truck; and
- Investing further in BED renewable generation plants, including relicensing the Winooski One Hydroelectric Facility.
The new revenue bond will also provide potential matching funds for federal and state grant opportunities.
“There is no question that the federal election results will create uncertainty and major headwinds for climate progress. I’m very appreciative that locally here in Burlington voters approved (with a very strong margin) our proposed $20 million Net Zero Energy and Grid Reliability Revenue Bond,” said Darren Springer, General Manager for BED.
The bond “will continue our generational climate and reliability investments through the end of the decade, and increase grid capacity for more EVs and heat pumps and electric transit buses and geothermal heating systems,” he said.
“It will also fund EV charging station deployment, technology systems upgrades, and a significant lead by example effort to continue to convert our own vehicles at Burlington Electric to EVs. There is much more work to do, and that work just got much harder, but I am proud to be a part of the Burlington Electric team that will aim to continue long-standing leadership on energy innovation in our community.”
