Despite significant effort in research on energetic nitrocompounds coupled with a great interest in these materials for a range of technological and medical applications, the electronic structure of condensed energetic materials is barely studied. In this research aimed at a better understanding of the low energy absorption in the optical spectrum of nitro-compounds, the electronic structure and vertical electronic transitions of a gas-phase pentaerythritol tetranitrate (PETN) molecule and an ideal PETN crystal were explored by means of density functional theory based calculations. In accordance with most experimental observations, the optical absorption spectrum of PETN has a well-resolved intense band above 6 eV that is accompanied by a few low intensity broad bands at lower energies. Our modeling suggests that the high intensity band corresponds to a series of strong singlet−singlet transitions, while the lower energy bands are attributed to the formation of tightly bound singlet and triplet excitons. All transitions are well-localized on O−NO 2 groups of PETN. We also systematically analyze low energy excitations in other nitro-compounds, which exhibit similar patterns in the spectra even though the experimental data are incomplete at the moment. We predict that tightly bound excitons and charge transfer excitons should exist in PETN and both would trigger the nitrate decomposition, which allows for precise control of the initiation process.