Commercial Energy Loan Program

March 07, 2023


The Commercial Energy Loan Program (CELP), created by Act 87 in 2013, is administered by the Vermont Economic Development Authority (VEDA). The CELP provides loans to businesses for larger renewable energy and energy efficiency projects.

The maximum loan amount is $2,000,000, and VEDA is generally limited to 60% of the project cost; and in some cases up to 90% of cost financing. Loans are provided at variable rates, which are adjusted on a quarterly basis; current rates can be found here. Loan terms are determined on a case-by-case basis, with a maximum loan term of 20 years.

Fees associated with CELP loans include (1) a 1% commitment fee ($5,000 maximum), (2) a $30 credit report fee, (3) if applicable, appraisal fee, document recording fee, flood certificate fee, and other out-of-pocket fees.

Program Overview

Implementing Sector: State
Category: Financial Incentive
State: Vermont
Incentive Type: Loan Program
Web Site:
Administrator: Vermont Economic Development Authority (VEDA)
Start Date:
Eligible Renewable/Other Technologies:
  • Geothermal Electric
  • Solar Thermal Electric
  • Solar Photovoltaics
  • Wind (All)
  • Biomass
  • Hydroelectric
  • Combined Heat & Power
  • Landfill Gas
  • 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
  • Geothermal Direct-Use
  • Anaerobic Digestion
  • Fuel Cells using Renewable Fuels
  • Reflective Roofs
  • LED Lighting
Maximum Loan: $2,000,000
Loan Term: Determined on a case-by-case basis
Interest Rate: Variable rates


Name: 10 V.S.A. § 280cc to § 280dd
Date Enacted: 06/17/2013
Effective Date: 06/17/2013


Name: Eun-Young Denny
Organization: Senior Commercial Loan Officer - Vermont Econ
Address: 58 East State St, Suite 5
Montpelier VT 05602
Phone: (802) 828-5460

This information is sourced from DSIRE; the most comprehensive source of information on incentives and policies that support renewables and energy efficiency in the United States. Established in 1995, DSIRE is operated by the N.C. Clean Energy Technology Center at N.C. State University.