Vermont Low Income Trust For Electricity

What Vermont Low Income Trust For Electricity does

The Vermont Low Income Trust for Electricity (VLITE) is a public benefit nonprofit corporation established in 2012 as a condition of the Public Service Board-approved merger of Central Vermont Public Service (CVPS) and Green Mountain Power (GMP), with a subsequent transaction involving GazMétro. As part of that merger, a significant ownership interest in VELCO (Vermont Electric Power Company) was transferred to VLITE, providing the organization with dividend income estimated at approximately $1 million per year. VLITE holds the right to nominate three independent directors to VELCO's board, embedding it directly in Vermont's electric transmission governance.

VLITE functions exclusively as a grant-making trust and does not develop, sell, or license technology products. Its grant portfolio, totaling more than $6 million since grant-making began in 2013, funds projects that advance Vermont's Comprehensive Energy Plan, with particular emphasis on energy efficiency for low-income Vermonters. Per a 2018 board strategic update, 75% of grants are now directed to low-income energy efficiency (up from a historical 55-60%), with the remaining 25% supporting Comprehensive Energy Plan transformational initiatives such as renewable energy deployment, electric vehicle adoption, and community climate action.

The grant-making process is invitation-only, operating through an Introductory Questionnaire and two annual grant review cycles. VLITE distributes funds primarily through partnerships with established Vermont organizations, including the Vermont Office of Economic Opportunity, Vermont Council on Rural Development, Efficiency Vermont, Green Mountain Power, Energy Action Network, and community action agencies. Programs include the Climate Catalyst Innovation Fund, Municipal Energy Resilience Program funding, Low-Income Weatherization Support (notably vermiculite removal enabling weatherization), the Climate Economy Model Communities Program, and EV incentive pilots. Quantified outcomes include helping roughly 60,000 Vermont families through the broader weatherization program, weatherization savings averaging 25% (~$600/year) per home, and successful leveraging of external funding sources such as the Zonolite Trust.

Name

Vermont Low Income Trust For Electricity

Legal name

Vermont Low Income Trust for Electricity

Website

https://vlite.org

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Short description

VLITE is a Vermont public benefit nonprofit that funds projects advancing the state's Comprehensive Energy Plan, with 75% of grants directed to low-income energy efficiency. It is sustained by ~$1M/year in VELCO dividend income and distributes over $6M in cumulative grants since 2013.

Ownership category

akta.pro rank

Product category

Nonprofit Energy Grantmaking

NAICS

Grantmaking Foundations (813211), Environment, Conservation and Wildlife Organizations (813312), Other Grantmaking and Giving Services (813219)

SIC

Services-Social Services (8300)

akta.pro primary industry

Environmental & Climate Grantmaking Foundations (BPAGAKAM)

akta.pro secondary industries

Community Foundations (BPAGAKAB), Renewable Energy & Clean Tech Access (Off-grid, Energy Poverty Solutions) (BPAGALAE)

Keywords

• Energy efficiency grants
• Low-income weatherization
• Renewable energy funding
• Nonprofit grantmaking
• Community energy programs

Headquarters

HQ city

Essex Junction

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Others

Revenue model

1. VELCO Dividend Income: VLITE receives dividend income from its ownership interest in VELCO (Vermont Electric Power Company), estimated at $1 million per year. This income is used to fund projects and initiatives that serve low-income Vermonters and further energy policies that address Vermont's Comprehensive Energy Plan.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

VLITE is a public benefit nonprofit corporation that functions as a grant-making trust, awarding grants to projects that advance Vermont's Comprehensive Energy Plan with particular emphasis on the energy needs of low-income Vermonters. The organization funds weatherization, renewable energy, electric vehicle, and energy efficiency initiatives using dividend income from its ownership interest in VELCO (Vermont Electric Power Company), estimated at approximately $1 million per year.

Product overview

VLITE is a public benefit nonprofit corporation that serves as a grant-making trust rather than a technology product company. VLITE issues grants—organized primarily as its grant programs including the Climate Catalyst Innovation Fund, Municipal Energy Resilience Program funding, Electric Vehicle Incentive Program, Low-Income Weatherization Support, and Climate Economy Model Communities Program—to advance Vermont's Comprehensive Energy Plan with particular emphasis on the energy needs of low-income Vermonters. The organization receives dividend income from VELCO ownership and distributes approximately $1 million annually in grant funding.

Differentiator

Problem solved

Functional benefit

Products and services

• VLITE Grant Programs
• Climate Catalyst Innovation Fund
• Municipal Energy Resilience Program (MERP) Funding
• Electric Vehicle Incentive Program
• Low-Income Weatherization Support
• Climate Economy Model Communities Program

Quantifiable outcome

• Weatherization saves homeowners on average 25% or about $600 in annual energy costs
• +4 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core, major and minor.

• VELCO (Vermont Electric Power Company)coreStrategic or Co-development Partner · 1 January 2012VLITE holds a significant ownership interest in VELCO, received as part of the CVPS and GMP merger in 2012. As an owner of VELCO, VLITE has the power to nominate three independent directors to serve on VELCO's board of directors. VLITE uses its dividend income from VELCO—estimated at $1 million per year—to fund projects and initiatives.
• Vermont Council on Rural Development (VCRD)coreStrategic or Co-development PartnerVCRD coordinates the Climate Economy Model Communities Program, which received substantial three-year funding from VLITE. VLITE provided $80,000 per year for 2 years and seed funding of $15,000 for the Climate Catalysts Innovation Fund. VCRD has partnered with Green Mountain Power and Efficiency Vermont to support community volunteers.
• Vermont Office of Economic Opportunity (OEO)coreStrategic or Co-development PartnerVLITE has made grants totaling approximately $500,000 to OEO for vermiculite removal from low-income homes. OEO coordinates the Low-Income Weatherization Program which has helped 60,000 Vermont families. VLITE funding helped OEO leverage approximately $4,100 per home from the Zonolite Trust.
• Efficiency VermontmajorStrategic or Co-development PartnerEfficiency Vermont provides targeted resources to communities participating in VCRD's Climate Economy Model Communities Program. VLITE funding supports this broader ecosystem of energy efficiency organizations.
• Green Mountain PowermajorStrategic or Co-development PartnerGreen Mountain Power is a partner in the Climate Economy Model Communities Program coordinated by VCRD, providing support and assistance to community volunteers.
• Drive Electric VermontmajorStrategic or Co-development PartnerVLITE supported Drive Electric Vermont program in marketing and promoting plug-in vehicles, including funding for a pilot EV incentive program offering $500 off new EV purchases at 11 participating dealers.
• Energy Action Network (EAN)majorStrategic or Co-development PartnerVLITE provided a $100,000 grant to EAN for energy initiatives supporting Vermont's Comprehensive Energy Plan goals.
• VSECU (Vermont State Employees Credit Union)minorGTM or Marketing PartnerVSECU contributed to the Climate Catalysts Innovation Fund, helping grow VLITE's initial $15,000 seed funding to $40,000 in the first round.
• Vermont Community FoundationminorGTM or Marketing PartnerVermont Community Foundation helped grow the Climate Catalysts Innovation Fund, contributing to expand VLITE's $15,000 seed funding.
• NeighborworksminorStrategic or Co-development PartnerVLITE approved $125,000 (of $250,000 requested) for Neighborworks business expansion services for low-income Vermonters.
• Vermont Public Service DepartmentminorStrategic or Co-development PartnerVLITE approved $100,000 (with VT PSD contributing $500,000) for wood stove replacement program.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Regional players

• Massachusetts Clean Energy Center (MassCEC): MassCEC is a state-affiliated quasi-public entity that funds clean energy deployment, workforce, and innovation across Massachusetts. Comparable to VLITE as a state-level energy-focused grantmaking/financing body, though MassCEC operates with a much larger budget and broader programmatic scope.
• Connecticut Green Bank: Connecticut Green Bank is a state-level green financing authority funding clean energy deployment in low-income and underserved communities. Comparable to VLITE as a state-affiliated entity deploying capital toward clean energy for low-income residents, though it primarily uses financial mechanisms rather than grants.
• Vermont Community Foundation: Vermont Community Foundation is a statewide community foundation granting across health, education, environment, and economic vitality. Directly comparable to VLITE as a Vermont-based grantmaker; the two organizations even co-fund the Climate Catalysts Innovation Fund.

Broad incumbents

• The Kresge Foundation: Kresge Foundation has a Climate Change, Health, and Equity program funding decarbonization, energy efficiency, and equitable transitions. Comparable to VLITE as a grantmaking foundation prioritizing low-income communities and energy/climate outcomes, but at a national multi-program scale.
• Barr Foundation: Barr Foundation is a major private foundation with a substantial climate and energy program funding decarbonization, buildings, and clean energy infrastructure in the Northeast. Comparable to VLITE as a philanthropic grantmaker in the energy/climate space, particularly the Greater Boston/New England regional alignment.
• New York State Energy Research and Development Authority (NYSERDA): NYSERDA is a state public-benefit corporation funding energy efficiency, renewable energy, and clean-tech innovation in New York. Comparable to VLITE in funding state-level energy programs for low-income households and renewable energy, though at orders-of-magnitude larger scale.
• Energy Foundation: Energy Foundation is a major philanthropic grantmaker funding clean energy policy and advocacy across the U.S. and China. Comparable to VLITE as a grantmaking organization funding energy and climate initiatives, though at far greater scale and with a national/global footprint rather than single-state focus.
• The Grantham Foundation for the Protection of the Environment: Grantham Foundation is a private foundation that funds climate, conservation, and clean-energy media and policy. Comparable to VLITE as a climate/energy-focused grantmaking foundation, though at significantly larger scale and broader geographic scope.

Direct peers

• Energy Action Network (EAN): EAN is a Vermont-based nonprofit coalition that coordinates statewide energy initiatives and has received VLITE grants ($100K). Closely comparable to VLITE as a Vermont energy-focused organization, though EAN operates as an advocacy/coordination body while VLITE is a grantmaking trust.
• Efficiency Vermont: Efficiency Vermont is the statewide energy-efficiency utility funded through a surcharge on Vermont electric bills, with the Managing Director (Peter Walke) serving on VLITE's board. Comparable to VLITE as a Vermont institution channeling funds toward energy efficiency and Comprehensive Energy Plan goals, though operating under a regulated-utility framework rather than a nonprofit-grant model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks1 record

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/vermont-low-income-trust-for-electricity-inc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Vermont Low Income Trust For Electricity