Vermont’s electric efficiency utilities saved more money for electric customers than similar utilities across the country from in 2012, but at a higher short term cost, according to a report commissioned by the Department of Public Service.
Two utilities in Vermont are designed to reduce electricity consumption, Efficiency Vermont and the Burlington Electric Department. The department asked the energy consulting firm Navigant to compare Vermont’s programs to more than two dozen others in the country between 2011 and 2012.
In 2012, investments made by Efficiency Vermont cut residential electric sales by 2.4 percent. Burlington Electric Departments cut sales by 1.9 percent. Both saved more than the median of 1.7 percent. Efficiency Vermont’s short-term cost of the energy savings was less than the median while Burlington Electric’s savings were slightly above.
The utilities saved about twice as much as the baseline average on investments to reduce peak demand.
The report found that retail products programs, such as incentives for light bulbs, accounted for about 92 percent of both utilities’ total residential savings. The report said lighting measures accounted for about 88 percent of the utilities energy savings during that time period.
“Relying on one technology for almost 90 percent of residential savings is a more risky strategy than having a more balanced portfolio of programs,” the report states.
Efficiency Vermont has since sought to offer incentives for heat pumps, among other energy efficient appliances. It is also using smart meter data to encourage homeowners to reduce consumption.
