by Steve Thurston
Word of iSun’s bankruptcy filing is sad news for their employees whose jobs are in jeopardy. But the blame lies entirely with the Democrat/Progressive majority in the Vermont Legislature, who in 2009 agreed with VPIRG lobbyist James Moore that Vermont’s energy policies should include a Ponzi scheme that rewarded a handful of crony capitalists at the expense of Vermont’s ratepayers.
In passing a law that required utilities to pay solar panel owners 20 cents per KWh for their excess electricity when the same electricity would cost 4-6 cents if purchased wholesale from the ISO-NE grid operator or Hydro Quebec, the Legislature ignored the analysis of the Public Service Department that there would be little benefit to Vermont ratepayers for this costly program.
Advocates for much more cost effective conservation and efficiency programs were rebuffed by pro-renewable Vermont Natural Resources Council head Johanna Miller with the excuse that conservation and efficiency, “is not particularly that sexy” p. 177. This term came up again when I asked Rep. David Sharpe at a legislative breakfast in 2016 why Vermont was pursuing renewables when C and E were much more cost effective. “Because C and E is not sexy”, he said to my astonishment. I had no idea that sex appeal, rather than return on investment was the criteria for choosing carbon reducing energy policies.
But the die was cast for millions of ratepayer dollars to be invested in the solar Ponzi scheme. With the skids thoroughly greased, VPIRG lobbyist James Moore along with VPIRG board members took advantage of the laws Moore lobbied for and formed Sun Common, which a few years later he and co-owner Duane Petersen sold to iSUN (formerly Peck Electric) for $40 million. The Ponzi scheme had worked out well! Or so they thought.
Meanwhile, the legislature, without Republican support, continued to pass laws requiring increasing amounts of high-cost renewable energy.
Citing the economic risk for Vermonters, Governor Scott vetoed the 2020 Global Warming Solutions Act, and the 2023 Clean Heat Standard. but the supermajority Democrat/Progressive legislature overrode his vetoes and forced the bills into law, even as a key sponsor of these bills, Rep. Laura Sibilia admitted that they would have no effect on global warming, but were instead intended to mitigate the volatility of fossil fuel pricing. She should have been more concerned about the consequences of policies that allow certain players to reap windfalls only to have them be plunged into bankruptcy with disastrous effects on their employees, who bear no responsibility. I guess that type of volatility is acceptable to Rep. Sibilia.
In the current 2024 session the legislature passed a bill (H.289) requiring Vermont to have 100% renewable electricity by 2030, even though the Public Utility Commission warned that it could cost $1 billion over 10 years. Not a single Republican voted for this bill in either the House or the Senate. Governor Scott vetoed it just as he warned he would do.
A veto session will be held on June 17 to consider Governor Scott’s vetoes, which include H.289 and also the education funding bill which stands to increase property taxes by double digits for homesteads and more for all other property. Vermonters are hemorrhaging their lifeblood to satisfy the supermajority’s insatiable thirst for dominion over every aspect of their lives.
Now that the largest solar panel company in Vermont is on the verge of collapse, one might wonder if legislators will think twice about overriding the Governor’s veto of H.289. Does Vermont really want to spend upwards of $1 billion to see the state plastered with monstrous solar panel arrays, such as proposed for Addison, Bennington and Rutland counties, which in many cases will be owned by out of state interests reaping the benefits of Vermont’s generous subsidies?
We hear much about the transition to “net zero” emissions. It appears that the transition is more likely to result in “net zero” dollars in the rainy day fund of many hard working Vermonters who live paycheck to paycheck while they pay for the higher costs of mandated energy schemes.
But all is not lost. Every legislator is up for re-election in November. Do Vermonters want to see the legislature continue with its reckless and unsustainable policies, or will they vote for more balance? There are many Republicans running for seats currently occupied by Democrats and Progressives. Think of these Republicans as a tourniquet for the uncontrolled bleeding that Democrat policies are causing. Without first aid, the bloodletting will continue – as the final vote on the Clean Heat Standard’s rules will be taken by the newly elected legislature.
These rules are expected to increase the cost of heating fuel by no less than 70 cents per gallon, perhaps much more. We won’t know until after the election what the cost will be. Without more Republicans in the legislature this vote, and the Governor’s veto, will be in the hands of a super majority that will feel even more emboldened if returned to the Statehouse.