Vermont’s Sustainably Priced Energy Development Program was enacted by the Vermont Legislature and Governor in June 2005 in 30 V.S.A. § 8005 and § 8001. The goal of the law authorizing the SPEED program is to promote the development of in-state energy sources which use renewable fuels (SPEED resources) to ensure that to the greatest extent possible the economic benefits of these new energy sources flow to the Vermont economy in general, and to the rate paying citizens of the state in particular.

In May of 2009, 30 V.S.A. § 8005 was significantly amended to create "standard offer" contracts and "feed in tariffs" for SPEED resources of less than 2.2 MW. 

The "SPEED Goal" is to supply all new load growth from January 1, 2005 through July 1, 2012 with SPEED resources.   A minimum SPEED Goal of generating 5% of Vermont's 2005 load (294,283 MWH) with SPEED resources is also included in the law.

 An additional SPEED Goal is to generate 20% of Vermont's load with SPEED resources by 2017.