GREEN MOUNTAIN POWER
GMP's Successful Rebate Programs Continue in 2024 and Income-Eligible GMP Customers Can Save Even More on Heat Pumps

Highlights

• Programs help customers save when they choose to switch away from fossil fuel while also reducing costs for all GMP customers
• Heat pump rebate increasing to $2,000 for customers with income below 80% Area Median Income helping expand access to clean energy technology

Starting January 1, 2024, Green Mountain Power (GMP) will continue its popular rebate programs to help customers save when they switch from fossil fuels to clean electricity for driving, heating and cooling, yard care and more. All GMP's programs are designed to help cut costs for all GMP customers while also cutting carbon emissions.

Also starting in January, GMP is updating its heat pump program to expand access to the super-efficient heating and cooling technology by more than doubling its enhanced, post-purchase heat pump rebate for income-eligible customers to $2,000. It had been $600. To qualify, customers must have a household income at or below 80% of area median income (AMI). To see if your household qualifies for the enhanced post-purchase rebate, check the AMI information available on the heat pump rebate page on the GMP website. At the same time, the $300 post-purchase rebate for moderate-income customers and the $400 midstream rebate paid to suppliers will end. The rebate program changes are for ductless mini-spilt cold climate heat pumps and centrally ducted air source heat pumps, and they go into effect on January 1, 2024.

"Since 2020, GMP incentives have helped customers install more than 28,000 mini split heat pump systems and 2,700 ducted heat pumps and we're thrilled to enhance our post-purchase rebate to help more Vermonters," said Tiana Smith, Leader of Electrification at GMP. "Heating with fossil fuel is the top source of carbon pollution in Vermont, and GMP is proud to have partnered with installers and customers to grow the market here for this clean electric technology."

GMP customer Jonathan Klein has heat pumps at his Richmond, Vermont home as his family shifts away from fossil fuel. "They have been incredible all year long. We're able to control energy use and temperature by room, which is great. I tell all my friends how well they work and how cost-efficient they are," Klein said.

GMP's other incentives for heating and cooling systems will continue. They include: 

1. up to $400 point of sale discount through participating suppliers
2. up to $2,000 for centrally ducted air source heat pump systems 
3. $1,000 per ton for air-to-water heat pumps
4. $2,100 per ton, up to 6 tons, for ground source heat pumps and geothermal systems 

All GMP incentives and rebate programs including EV rebates, electric mower and yard care rebates cut carbon and reduce costs for all customers, and help address the top sources of carbon pollution heating and transportation. In 2023, GMP residential and business customers offset more than 629 million pounds of lifetime carbon through GMP's incentive programs, which is the equivalent of preventing the burning of 2.4 million barrels of oil. Customers can email GMP's Energy Innovation Team at energyinnovationteam@greenmountainpower.com, or call 888-835-4672.

About Green Mountain Power

Green Mountain Power serves more than 270,000 residential and business customers in Vermont with electricity that's 100% carbon free and 80% renewable on an annual basis, and GMP is partnering with customers to improve lives and transform communities. GMP is providing solutions to cut carbon and is delivering electricity that is clean, affordable, and always on. GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. In 2022, GMP was named to TIME's list of the 100 Most Influential Companies. Fast Company named GMP one of the top five Most Innovative Companies in North America in 2022. GMP also earned a spot on Fast Company's Most Innovative Companies in the World list in the energy sector four years in a row, and in 2023 and 2021 the Smart Electric Power Alliance (SEPA) honored GMP as a nationwide leader in energy transformation.