A case study of the Central Vermont Public Service Corporation (CVPS) Cow Power program examines the economic feasibility for dairy farms to convert cow manure into electricity via anaerobic methane digestion. The study confirms that it is technically feasible to convert cow manure to electricity on dairy farms but the economic returns highly depend on the base electricity price paid by CVPS, premium rate paid by CVPS customers, financial supports from government agencies and other organizations, and sales of the by-products of methane generation. Lessons learned from this program will be useful to other dairy farms and communities interested in converting cow manure into electricity.