Veckta Screened 34,000 Commercial Sites and Found 37 Percent Earn Positive Returns at Today’s Rates

Veckta, a San Diego onsite-energy procurement platform, closed an oversubscribed $11 million Series A led by Origin Ventures, with VoLo Earth Ventures returning from the company’s $3.3 million 2022 pre-seed. Alongside the round, Veckta disclosed the output of its own screening work: across roughly 34,000 customer sites analyzed, 37 percent would earn positive returns at today’s rates, amounting to about $3.1 billion of project value.

The value concentrates in high-rate markets like the Northeast and California, and among businesses facing steep peak-demand charges.

The signed sites. Customers have signed contracts on 128 sites so far in 2026. Those sites run from roughly 250 kilowatts at car dealerships and retail stores up to 10 megawatts or more at manufacturing, warehouse and cold-storage facilities. The screen is a desk exercise performed against a site’s rates and load profile; the contract that follows is a physical installation in an existing electrical room.

NEC 705.13. On the same day the Veckta round was announced, Vahe Hayrapetyan of Energy Solar Inc. published a technical piece in pv magazine USA describing a retrofit failure mode in precise terms. A building already carries a PV array installed by one party. A new battery arrives from another. Each system holds a valid listing. Their combined output can exceed the current ratings of the conductors and busbars they share. The 2023 NEC addresses the case in Section 705.13, which sets the requirements for using listed power control system equipment to limit current on those shared paths.

Monitoring is not control. Hayrapetyan identifies the most commonly missed item as the gap between monitoring and control. A battery PCS regulates its own inverter. An existing third-party PV inverter answers to whoever owns it. A battery controller wired to current transformers reading PV production has visibility into that output and no authority to curtail it. Treating the first as equivalent to the second is the design error he names.

The remedy he describes is arithmetic plus discipline: assume the PV system’s maximum potential output and limit battery charge and discharge accordingly. Commissioning then has to verify that the PCS behaves as intended under communication failure, measurement error and loss of control.

What the screen cannot see. Veckta’s analysis reads conditions that exist in data: tariffs, incentives, load. The ampacity stamped on an existing panelboard comes from a site visit, not a database. Read together, the two disclosures describe a market in which the economic question at a large minority of commercial sites has resolved while the engineering question at each individual site opens when a surveyor walks the electrical room. That reading is interpretation rather than reporting. Hayrapetyan writes as a practitioner describing plan-review experience, not as a compiler of industry-wide data, and no source quantifies how many of the 34,000 screened sites carry existing third-party PV.

Provenance moves to the bid stage. Veckta scores more than 3,000 vetted suppliers on track record, warranties, equipment origin and FEOC compliance. Supply-chain provenance has spent the past year as a tax question, determining whether a customer can safely claim a credit. Scored at the bid stage, it becomes a commercial one: provenance helps decide which supplier wins the work, on a scorecard the customer never has to read.

That shift carries a consequence for product positioning. On a standardized spec sheet compared against competing bids, the attributes that survive are the documentable ones. A certification number, a warranty term, a country of origin and a verified install history all fit in a cell. Sales narrative does not.

The five-year projection. Chief executive Gareth Evans expects onsite power to clear economically at close to 100 percent of sites within five years, which on Veckta’s arithmetic would lift the addressable project value from roughly $3.1 billion to roughly $12 billion. The projection rests on retail rates continuing to climb faster than installed cost, and it comes from a company whose revenue scales with the count of sites that clear the bar. The 34,000-site screen is the more useful datum, because it describes conditions a buyer can verify against a current utility bill.

What the two disclosures establish. A third party with a large sample now puts a number on how many commercial sites clear the financial threshold, and that number is concentrated where demand charges are highest. A practitioner account published the same day describes the shared-busbar analysis that a solar-plus-storage retrofit must pass before an inspector signs it. The first determines which sites are worth pursuing. The second determines what the submittal has to contain.

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