Home Energy Loan 2027-2029 Request for Proposals

Location:	Vermont
Posted:	Aug 10, 2026
Due:	Sep 28, 2026
Agency:	Vermont Energy Investment Corporation (VEIC)
Type of Government:	State & Local
Category:	Q - Medical Services
Publication URL:	To access bid details, please log in.

Efficiency Vermont, a statewide Energy Efficiency Utility operated by Vermont Energy Investment Corporation (VEIC), is seeking proposals from lending institutions (Lenders) to provide services in support of Efficiency Vermont’s Home Energy Loan program.

Responses to this Request for Proposals (RFP) must be delivered electronically to VEIC by 5 p.m. EDT on Monday, September 28th, 2026. VEIC will not accept responses submitted after 5 p.m. EDT. Please submit your response electronically via e-mail to: astrom@veic.org with RFP Submittal for Home Energy Loan 2027-2029 in the subject line.

VEIC will respond to individual questions regarding this RFP only as follows: VEIC will receive questions regarding requirements and scope of work up to 5 p.m. EDT Friday, August 28th, 2026, via e-mail only, to astrom@veic.org with “Home Energy Loan RFP Question” in the subject line. When appropriate, please refer to the RFP page number and Section Heading for ease of navigation and response. VEIC will post answers on the Efficiency Vermont website Requests for Proposals - VEIC no later than Monday, September 14th, 2026. VEIC will not address questions submitted after Monday, September 14th, 2026.

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Home Energy Loan 2027-2029

Request for Proposals

Summary

RFP Release Date: 8/10/2026

Bidder Questions Due: 8/28/2026

Answers Posted: 9/14/2026

Proposals Due: 9/28/2026

Efficiency Vermont, a statewide Energy Efficiency Utility operated by Vermont Energy Investment

Corporation (VEIC), is seeking proposals from lending institutions (Lenders) to provide services

in support of Efficiency Vermont’s Home Energy Loan program. Responses to this Request for

Proposals (RFP) must be delivered electronically to VEIC by 5 p.m. EDT on Monday, September

28th, 2026. VEIC will not accept responses submitted after 5 p.m. EDT. Please submit your

response electronically via e-mail to: astrom@veic.org with RFP Submittal for Home Energy

Loan 2027-2029 in the subject line.

VEIC will respond to individual questions regarding this RFP only as follows: VEIC will receive

questions regarding requirements and scope of work up to 5 p.m. EDT Friday, August 28th,

2026, via e-mail only, to astrom@veic.org with “Home Energy Loan RFP Question” in the

subject line. When appropriate, please refer to the RFP page number and Section Heading for

ease of navigation and response. VEIC will post answers on the Efficiency Vermont website

Requests for Proposals - VEIC no later than Monday, September 14th, 2026. VEIC will not

address questions submitted after Monday, September 14th, 2026.

Background

Vermont Energy Investment Corporation

VEIC is a mission-driven, nonprofit organization dedicated to reducing the economic and

environmental costs of energy use. It carries out its mission, in part, by designing and

implementing innovative energy efficiency and renewable energy programs. Founded in 1986,

VEIC is nationally and internationally recognized for advancing energy efficiency, energy

conservation, and renewable energy programs and projects across the United States, Canada,

and Europe. VEIC employs 400 professionals and is headquartered in Winooski, Vermont. It has

offices also in Washington, DC, and Ohio. For additional information, please see VEIC’s Website:

www.VEIC.org

Home Energy Loan 1

VEIC is a Just-labeled organization, committing itself to corporate transparency on social justice

and equity indicators. We’ve also adopted the Social Vulnerability Index across our entire

organization to measure the impact our work has on underserved communities. With ongoing

employee engagement in social and energy justice principles, justice and fairness are

embedded in everything we do. We see opportunities everywhere to create new tools that

can help us build the kind of company—and the kind of society—we want to see. 

Efficiency Vermont

Launched January 1, 2000, Efficiency Vermont helps ratepayers reduce energy costs, strengthen

the local economy, and protect the environment by making homes and business energy

efficient. Efficiency Vermont provides technical assistance, rebates, and other financial incentives

to help Vermont households, businesses and other institutions—such as K-12 schools—reduce

their energy costs with energy-efficient equipment, lighting, and approaches to construction

and major renovation. Efficiency Vermont partners extensively with contractors, suppliers, and

retailers of efficient products and services throughout the state.

VEIC operates Efficiency Vermont under an Order of Appointment issued by the Vermont Public

Utility Commission. For additional information, please see the Efficiency Vermont website:

www.efficiencyvermont.com

Scope of Work and Schedule

RFP and Implementation Schedule

Table 1. Efficiency Vermont will attempt to adhere to the following schedule but reserves the

right to adjust the schedule as needed.

RFP release

Bidders Questions Due

Answers posted

RFP responses due

Bidder selected

Contract negotiations and signature

Performance Period

8/10/26

8/28/26

9/14/26

9/28/26

10/09/26

12/15/26

2027-2029

Home Energy Loan 2

Scope of Work

Contents of this Scope of Work

- Introduction/Background

- Required Services

- Commitment to Equity and Consumer Protection

- Loan Program Details

- Exhibit A: HEL RFP Cost Matrix Form & Questions to Respondent

INTRODUCTION/BACKGROUND

The Home Energy Loan (HEL) is a financing product available to help Vermont homeowners

reduce the cost of and increase access to capital, so they can improve the energy efficiency of

their homes. The HEL financing product provides income-sensitive, low-interest loans (below

market rates) to residential homeowners, where interest rates are tied to income such that lower

income borrowers receive the lowest interest rates.

The Lender provides private capital to finance loans, and VEIC provides payments for an interest

rate buy-down (IRB) to subsidize interest rates. The Lender determines who qualifies for loans

based on the Lender’s own underwriting criteria, and also determines borrowers’ interest rates

based on each borrower’s application information.

REQUIRED SERVICES

At the direction of VEIC’s Contract Manager, the Lender will provide the following services:

- Provide loan applications to borrowers

- Receive, review, approve, process, and underwrite borrower loan applications

- Review and approve borrower Project Verification Forms (PVFs)

- Provide private capital to finance approved borrower loans

- Follow industry best practice on payment due notices

- Electronically submit monthly invoices to Efficiency Vermont for reimbursement

- Provide program and marketing support

Home Energy Loan 3

- Support Efficiency Vermont market analysis and customer feedback collection

- Ensure data security

Additional details on required services are provided below. Proposals should describe the

Lender’s process and abilities to fulfill required program functions.

Provide loan applications to borrowers

- The Lender makes loan applications available to potential borrowers in hardcopy

at brick-and-mortar locations and in online formats on the Lender’s website.

Receive, Review, approve, process, and underwrite borrower loan applications

- The Lender is responsible for receiving, processing and verifying customer

eligibility for the Home Energy Loan Program using the institution’s underwriting

criteria.

- The Lender is responsible for providing and servicing loans to approved

customers.

- The Lender is responsible for distributing print and/or digital timely payment due

notifications to customers with clarity on amount due, amount paid to date, and

balance remaining with estimated payment period ending date.

- The Lender is responsible for implementing the HEL program according to

Efficiency Vermont’s Program Details outlined in the “Program Details” section

below.

Relative to these interest rates, the Lenders will need to submit a completed HEL RFP Cost

Matrix Form (Exhibit A of this RFP) that provides information on credit ratings and base interest

rates, such that Efficiency Vermont can determine the amount of IRB for different loan scenarios.

Please note that calculation of IRB will incorporate a discount rate to determine Net Present

Value (NPV).

Preliminary contract language related to HEL program details can be found in this RFP within the

“Program Details Section”

Review and approve borrower Project Verification Forms (PVFs)

As part of the loan approval process, the Lenders must review Project Verification Forms (PVFs)

submitted by borrowers to ensure proposed projects meet program compliance. PVFs will be

Home Energy Loan 4

submitted directly by borrowers to the Lender. VEIC’s Customer Support team will be available

to consult with Lender underwriting staff on questions regarding efficiency technology and

project eligibility. The Lender must verify borrower and project-level information that includes,

but not limited to:

- Customer (borrower) information and signature

- Utility-Provider Information

- Project Specifications

- Attached scope of work and price quote with signature prepared by a

participating Efficiency Excellence Network (EEN) contractor. EEN contractors can

be determined by reviewing “A Specific Business Name” on the Find a Pro tool:

https://www.efficiencyvermont.com/find-contractor-retailer#/

- The commitment by the same contractor to installing and/or completing the

proposed project and reporting it to Efficiency Vermont.

A copy of the 2026 PVF can be found on Efficiency Vermont’s website here.

Provide private capital to finance approved borrower loans.

- The Lender will provide funding for financing approved borrower loans.

- Funding provided by Efficiency Vermont will only be for approved Home Energy

Loan costs associated with Interest Rate Buydowns (IRB), Loan Loss Reserve (LLR)

(if applicable), and loan fee for projects with applied rebates (if applicable).

Electronically submit monthly invoices to Efficiency Vermont for reimbursement

- Complete monthly Invoice Spreadsheet for reimbursement of billable expenses as

directed by Efficiency Vermont.

- Part of the invoicing process requires that the Lender determines and documents

which borrowers meet Efficiency Vermont’s regulatory definition of low-income

customers. This is accomplished by determining if customer household income

level falls below 80% Area Median Income for their county. Sample income

thresholds are included under the “Program Details” section.

- Submit loan information from Project Verification Forms as directed by Efficiency

Vermont.

Home Energy Loan 5

This is the opportunity summary page. It provides an overview of this opportunity and a preview of the attached documentation.

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Home Energy Loan 2027-2029 Request for Proposals

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