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%)

Pitch Summary

• 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 Department

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