Amount of fee. Effective January 1, 2024, the carbon pollution impact fee shall be equal to one hundred fifty dollars ($150.00) per ton of greenhouse gas emissions attributable to a building’s fossil fuel thermal energy systems over their lifetime, based on a net present value calculation (using a discount rate that is the lower of the rate used by either the environmental protection agency or the State of Vermont in calculating the social cost of carbon) at the time the permit application is submitted. The emissions attributable to a building’s fossil fuel thermal energy systems will be based on the expected lifetime of the system and its expected annual emissions. Applicants shall be required to submit this information during the permit process, and the department of permitting and inspections may work with Burlington electric department energy services staff to assess and verify applicant information for expected lifetime and emissions of a system in a building. On each subsequent January 1, the carbon pollution impact fee shall be increased by any percentage increase of the Consumer Price Index, CPI-U, U.S. city average, not seasonally adjusted, or successor index, as calculated by the U.S. Department of Labor or successor agency for the twelve (12) months preceding the previous September 1, but in no event shall the increase be greater than five (5) percent. The carbon pollution impact fee shall be rounded off to the nearest dollar.(c)
Exceptions.(1) For large existing building applicants, the carbon pollution impact fee shall be capped at no more than seventy-five (75) percent of the installed cost of the proposed space conditioning or domestic water heating system.