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groSolarMortgage Insurance Program
The company, groSolar, is in the vanguard of the expanding U.S. solar energy industry. groSolar was founded in 1989 by Jeffery and Dorothy Wolfe, who continue to manage the company. groSolar installs photovoltaic and hot water solar panels in homes and businesses across the Northeast, Mid-Atlantic and California. The company also distributes solar panels to other installation companies throughout North America.
Unprecedented increases in energy prices, coupled with new federal and state tax incentives and an increasing awareness about climate change, are substantially boosting demand for solar power systems across the country, helping to make groSolar one of Vermont's fastest growing companies. The company expects to approximately double employment over the next three years.
In FY2008, VEDA agreed to help Chittenden Bank significantly increase its working capital line of credit to groSolar to help fund the company's inventory purchases to meet rapidly increasing sales.
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