The Vermont Energy Investment Corporation (VEIC) recently announced the launch of Commons Energy L3C, a new subsidiary to help underserved markets reduce their energy and water costs.
Commons Energy is being launched with an initial capitalization of $6.5 million, including a $5 million "impact investment" from the John D. and Catherine T. MacArthur Foundation focused on multi-family housing. Additional support is being provided by the High Meadows Fund, the Kresge Foundation, the National Housing Trust, the Vermont Community Foundation, and the Vermont Housing and Conservation Board.
Commons Energy takes a comprehensive approach to helping reduce energy costs for owners of small and mid-size public purpose buildings such as schools, health care facilities, affordable multifamily housing, and municipal and community structures. The approach focuses on simplicity for the building owners, including an energy savings guarantee, so they can remain focused on serving their clients.
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