VEIC

What VEIC does

VEIC (Vermont Energy Investment Corporation) is a 501(c)(3) nonprofit clean energy consultancy founded in 1986 and headquartered in Winooski, Vermont, with offices in Washington, DC and Columbus, Ohio. The organization designs, implements, and administers energy efficiency, building decarbonization, transportation electrification, and clean grid programs on behalf of government agencies, utilities, transit authorities, foundations, and businesses. Its core capabilities span six service areas: Program Solutions, Fleet Solutions, Pilots, Federal Funding Navigation, Decarbonization Planning, and Marketing & Education, with the latter delivered through an in-house creative agency that conducts audience research, focus groups, and paid-media campaigns. VEIC's flagship proprietary assets are five wholly owned program sub-brands that act as regulated or contracted service delivery vehicles — Efficiency Vermont (the nation's first statewide regulated energy efficiency utility, 1999/2000), the DC Sustainable Energy Utility (DCSEU), Efficiency Smart (serving 60+ American Municipal Power member utilities across OH, MI, PA, DE), the Renewable Energy Resource Center (Vermont), and Drive Electric Vermont.

VEIC generates revenue through two primary streams: (1) long-term government contracts and regulated program administration for statewide energy efficiency utilities (managed-services revenue tied to ratepayer-funded program budgets), and (2) fee-for-service consulting for decarbonization planning, federal funding navigation (Home Energy Rebates, Climate Pollution Reduction Grants under the IRA/BIL), pilot program design, and technical assistance. Customer segments are segmented horizontally across utilities, state energy offices, transit agencies and fleet managers, businesses and institutions, federal/state/local government, and foundations/nonprofits. Since 2000, VEIC's programs have delivered $6.8 billion in lifetime customer savings, avoided 116,369,836 metric tons of CO2e emissions, and reached underserved/renter/low-to-moderate-income households for 54% of 2025 impact. The organization is led by CEO Rebecca Foster (appointed March 2021) and governed by a Board of Directors chaired by Oswaldo Acosta.

Name

VEIC

Legal name

Vermont Energy Investment Corporation

Website

https://veic.org

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

VEIC is a 40-year-old nonprofit clean energy consultancy that designs, administers, and implements energy efficiency, transportation electrification, and decarbonization programs for utilities, state and federal agencies, transit authorities, and foundations across the United States.

Ownership category

akta.pro rank

Product category

Clean Energy Consulting and Program Administration

NAICS

Electric Power Generation, Transmission and Distribution (2211), Computer Systems Design and Related Services (54151)

SIC

Electric Services (4911)

akta.pro industry

PRIMARYEUAEANAE

SCADA/DMS/OMS Integration, Upgrades & Managed Services

Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Smart Grid Infrastructure Services

Keywords

• Clean energy consulting
• Energy efficiency programs
• Building decarbonization
• Transportation electrification
• Fleet electrification consulting

Headquarters

HQ city

Winooski

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Government Contracts & Program Administration: VEIC administers energy efficiency utility programs under contract with state governments and agencies. They operate Efficiency Vermont (the nation's first statewide regulated energy efficiency utility), DC Sustainable Energy Utility, and Efficiency Smart for Ohio utilities.
2. Consulting Services: Fee-for-service consulting for decarbonization planning, federal funding navigation, program design, and technical assistance to utilities, energy offices, transit agencies, businesses, and foundations across the country.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

VEIC is a nonprofit clean energy consulting and program implementation organization that designs, administers, and delivers energy efficiency, building decarbonization, transportation electrification, and clean grid programs on behalf of government agencies, utilities, and other entities. It operates regulated energy efficiency utilities such as Efficiency Vermont and the DC Sustainable Energy Utility, and provides consulting services spanning program design, fleet electrification planning, federal funding navigation, decarbonization strategy, and marketing and education for clean energy adoption.

Product overview

VEIC (Vermont Energy Investment Corporation) is a nonprofit clean energy consulting organization that operates a portfolio of energy efficiency and decarbonization programs. Rather than a unified software product, VEIC functions as a service organization that designs, implements, and operates energy programs on behalf of government agencies, utilities, and other entities. Its core offerings are delivered through six capability areas (Program Solutions, Fleet Solutions, Pilots, Federal Funding, Decarbonization Planning, and Marketing & Education) and five branded program sub-entities (Efficiency Vermont, DCSEU, Efficiency Smart, Renewable Energy Resource Center, and Drive Electric Vermont). These programs deliver energy savings, electrification, and clean energy solutions to residential, commercial, and institutional customers across multiple U.S. states.

Differentiator

Problem solved

Functional benefit

Products and services

• Program Solutions (Energy Efficiency Program Design & Implementation)
• Fleet Solutions (Fleet Electrification Consulting)
• Pilots (Pilot Program Design)
• Federal Funding Navigation
• Decarbonization Planning
• Marketing & Education
• Efficiency Vermont
• District of Columbia Sustainable Energy Utility (DCSEU)
• Efficiency Smart
• Renewable Energy Resource Center (RERC)
• Drive Electric Vermont

Quantifiable outcome

• $6.8 billion in lifetime customer savings delivered since 2000
• +3 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• Massachusetts Clean Energy Center (MassCEC)coreStrategic or Co-development Partner · 8 July 2024MassCEC selected VEIC to develop consumer education web pages explaining EV incentives, clearing misconceptions, and highlighting benefits of driving electric. Pages are tailored to residents, businesses, dealerships, and people living in communities serviced by municipal light plants (MLPs). Content available in six languages and informed by market research and focus groups.
• Small Planet SupplysupportingStrategic or Co-development Partner · 1 January 2024Small Planet Supply used Quick Start Grant (administered by VEIC for TECH Clean California) to create pre-designed central heat pump boiler system using natural refrigerants, installed in 40-unit low-income farmworker family community.
• Sacramento Municipal Utility District (SMUD) and City of SacramentosupportingStrategic or Co-development Partner · 1 January 2024SMUD and City of Sacramento used Quick Start Grant to pilot installing heat pumps and weatherization upgrades in income-qualified homes through a neighborhood-level approach integrated with existing anti-displacement program.
• Diversity CoalitionsupportingStrategic or Co-development Partner · 1 January 2024Diversity Coalition used Quick Start Grant funding to develop tailored educational messaging for low-income communities and communities of color, creating playbook of messaging strategies for equitable electrification.
• The Nature ConservancycoreStrategic or Co-development Partner · 1 January 2021VEIC partnered with The Nature Conservancy to develop a toolkit of policies, programs, and education strategies to advance EV adoption in rural Northern New England communities (Maine, New Hampshire, Vermont). The toolkit provides actionable, data-driven reference for stakeholders to deliver economic, health, and environmental benefits.
• TECH Clean CaliforniacoreImplementation/ SI/ Consulting Partner · 1 January 2021VEIC selected as part of team to implement California's TECH Initiative. VEIC administered Quick Start Grant program for TECH Clean California to support innovative heat pump adoption projects in underserved communities.
• Green Path StrategiessupportingStrategic or Co-development Partner · 1 January 2021VEIC partnered with Green Path Strategies and local community-based organizations to conduct focus groups in various formats to validate design approaches for EV education programs.
• Lawrence Berkeley National LaboratorysupportingStrategic or Co-development Partner · 1 January 2020VEIC partnered with DOE and Lawrence Berkeley National Labs on 50001 Ready program training cohorts for manufacturing plants, commercial buildings, multi-family buildings, and government facilities.
• U.S. Department of EnergycoreStrategic or Co-development Partner · 1 January 2020VEIC began partnering with DOE in 2020 to train business cohorts to complete the 25-step 50001 Ready energy management program. Since 2020, VEIC has run cohorts with various facility types.
• Martha's Vineyard Transit AuthoritycoreImplementation/ SI/ Consulting Partner · 1 January 2018VEIC worked with VTA to transition to partially electric bus fleet using microgrid infrastructure. Collaboration laid foundation for nation's first integrated clean, resilient, and flexible public transportation system. Project includes solar panels and energy storage allowing VTA to charge vehicles overnight.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CLEAResult: CLEAResult is one of the largest North American energy efficiency program administrators, now part of Generac. It competes directly with VEIC in designing and running utility energy efficiency, demand response, and electrification programs for utilities and state agencies.
• Resource Innovations: Resource Innovations (formerly Nexant) is a clean energy consulting and program administration firm serving utilities, state agencies, and regulators with energy efficiency, demand response, and grid modernization services, directly comparable to VEIC's service portfolio.
• Energy Solutions: Energy Solutions is a nonprofit that designs, implements, and evaluates energy efficiency and demand response programs for utilities, governments, and NGOs. Its program-administration mission and customer segments closely match VEIC's.
• Cadmus: Cadmus is an energy, environmental, and sustainability consulting firm that supports utilities and governments on energy efficiency program design, evaluation, and decarbonization strategy, overlapping significantly with VEIC's consulting capabilities.
• Opinion Dynamics: Opinion Dynamics is an energy efficiency research and evaluation firm providing program evaluation, market research, and EM&V services for utilities and program administrators like VEIC.
• Franklin Energy: Franklin Energy is an energy efficiency program implementation and consulting firm serving utilities, regulators, and governments across the US, directly comparable to VEIC's program administration and implementation work.

Broad incumbents

• ICF International: ICF is a large professional services firm with a substantial energy and environment practice supporting utilities, governments, and foundations on energy efficiency, climate, and federal funding work. It competes with VEIC across most consulting engagements.
• DNV: DNV provides energy advisory, testing, and certification services to utilities and governments worldwide, including energy efficiency program support and decarbonization advisory that overlaps with VEIC's work.
• TRC Companies: TRC is an engineering and consulting firm that delivers energy efficiency, utility program management, and grid modernization services. It is a broad competitor in the utility program administration space where VEIC operates.
• Navigant (now Guidehouse): Guidehouse (formerly Navigant Consulting) has a substantial energy, sustainability, and infrastructure practice advising utilities and governments on efficiency, electrification, and climate strategy, comparable to VEIC's consulting offerings.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/veic
• Xx.com/veic
• Facebookfacebook.com/VermontEnergyInvestmentCorporation

Revenue estimate

Valuation estimate

Number of profiles

Profiles19 records

Subsidiaries5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about VEIC