Hyde Park Electric Department

Encore worked with the Village of Hyde Park Electric Department to deliver a 1.4MWp solar project for the utility. Working with the Vermont Economic Development Authority, Encore assisted Hyde Park Electric in securing an innovative and compelling project financing package under the US Treasury Department’s Clean Renewable Energy Bonds (CREBs) program. The CREBs financing, along with cost savings associated with developing and constructing this project concurrently with a similar project for the nearby Stowe Electric Department, allowed Hyde Park Electric Department to own the asset outright at commissioning at a cost per kWh generated that is below market rates for Purchase Power Agreements for similarly sized third-party owned projects. Due to Hyde Park Electric’s exposure under the State of Vermont’s recently enacted Renewable Energy Standard, the project will result in a net savings for ratepayers. Encore was responsible for coordinating and managing all project design, development, permitting, and construction activities associated with the project.

This project, along with its sister project in Stowe, was a recipient of the Renewable Energy Industry Champion Award by Renewable Energy Vermont (REV) at REV’s annual conference in Burlington in October, 2016.