Editors Chose GMP as a Pioneer for Delivering Cutting-edge Grid Transformation
COLCHESTER, Vt. – TIME announced today that Green Mountain Power (GMP) is named one of the top 100 influential companies in the world. The annual TIME100 Most Influential Companies list highlights companies making an extraordinary impact around the world. GMP was chosen for its pioneering grid transformation work including large-scale projects and its innovative home battery storage programs that provide power to customers during outages and save millions for all customers by driving down costs and carbon emissions. GMP is also doing groundbreaking work to integrate electric vehicles into the grid to benefit all.
Named as a pioneer on the prestigious list, TIME wrote about GMP, “The future of energy resilience is now on display in Panton, Vt., where local utility Green Mountain Power last summer activated an innovative, renewable-powered ‘microgrid’ designed to keep the town’s lights on. . . Other utilities around the country in states like California are pursuing similar projects as they brace for worsening storms, wildfires, and other climate threats.”
TIME assembled the list from editors and correspondents around the world, and industry experts from every sector – ranging from health care and entertainment to transportation and technology. TIME editors then evaluated each one on key factors, including relevance, impact, innovation, leadership, and success to select the top 100. Other businesses on the list include Patagonia, Rivian, and Ford.
“Vermonters know the climate crisis requires all of us to step up and do our part,” said Rep. Peter Welch, D-Vt. “GMP is a part of the solution in Vermont, and this much-deserved recognition is an indication that their innovative programs to lower our carbon footprint are being noticed across the country. The clean-energy transition is an opportunity for Vermont to continue to lead the way to make our planet safer and our communities stronger.”
“Thank you, TIME, for this incredible acknowledgement,” said Mari McClure, president and CEO of Green Mountain Power. “We have never been more motivated to show the world what is possible when you connect clean energy and storage to a resilient and reliable grid. The result is renewable, local energy that is there for customers when they need it most and lowers costs and carbon for all. Innovators here in Vermont continue to rise to this important moment. We hope this work serves as a model for other states and nations.”
GMP is working hand in hand with customers and communities across Vermont on groundbreaking projects to fight climate change and increase resiliency. This includes utility-scale storage paired with solar like in Panton to keep communities powered up when bad weather strikes, or the larger grid goes down. This work, along with GMP’s home storage programs, which includes about 4,000 home- and business-based batteries, saved customers over $3 million last year. This network of batteries avoids the need to buy power on high energy use days, called peaks, when power is most expensive and carbon intensive.
GMP is also leading the way among utilities on electric vehicle (EV) innovation, successfully integrating charging technology with the grid and one of its electric fleet vehicles to draw energy from the car to help lower demands on the grid when peaks occur. This revolutionary work shows how EVs and the clean energy they store can become a reliable source of power to reduce peak demands, which in turn saves money and reduces carbon.
“This recognition is well deserved. Green Mountain Power has been a critical thought leader with dozens of Vermont cities, towns, and villages as they consider how to respond to climate change and reduce their dependency on fossil fuels,” said Ted Brady, executive director of the Vermont League of Cities and Towns (VLCT). “VLCT looks forward to working with GMP to inspire and instill energy innovations in communities across the state as municipal governments deploy federal funding included in the American Rescue Plan and the Bipartisan Infrastructure Law.”
GMP has a team that partners directly with businesses across the state, offering custom innovation projects to improve operations and cut carbon.
“The team at GMP is great and we enjoy working with them. They are problem solvers, helping deliver results that support businesses,” said Cathy Davis, president of the Lake Champlain Chamber. “It’s wonderful to see this shout out for all that we are doing together in Vermont to innovate and grow.”
GMP and all the TIME100 Companies will be featured in the April issue of TIME. You can check out the full list online here: time.com/100companies .
About Green Mountain Power
Green Mountain Power serves approximately 270,000 residential and business customers in Vermont and is partnering with them to improve lives and transform communities. GMP is focused on a new way of doing business to meet the needs of customers with integrated energy services that help people use less energy and save money, while continuing to generate clean, cost-effective, and reliable power in Vermont. GMP is the first utility in the world to get a B Corp certification, meeting rigorous social, environmental, accountability and transparency standards and committing to use business as a force for good. Fast Company named GMP one of the top five Most Innovative Companies in North America in 2022. GMP also earned a spot on Fast Company’s Most Innovative Companies in the World list in the energy sector four years in a row (2017, 2018, 2019, 2020). In 2021, the Smart Electric Power Alliance (SEPA) honored GMP as a nationwide leader in energy transformation.
Kristin Carlson, Green Mountain Power
We have never been more motivated to show the world what is possible when you connect clean energy and storage to a resilient and reliable grid. The result is renewable, local energy that is there for customers when they need it most and lowers costs and carbon for all.Mari McClure, GMP President & CEO