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EDF’s Investor Confidence Project (ICP): Building Confidence in Energy Savings

EDF’s Investor Confidence Project (ICP): Building Confidence in Energy Savings. The Investor Confidence Project . Efficiency Lifecycle Framework Baselining Core Requirements Rate Analysis, Demand, Load Profile, Interval Data Savings Projections Design, Construction, Commissioning

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EDF’s Investor Confidence Project (ICP): Building Confidence in Energy Savings

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  1. EDF’s Investor Confidence Project (ICP):Building Confidence in Energy Savings

  2. The Investor Confidence Project • Efficiency Lifecycle Framework • Baselining • Core Requirements • Rate Analysis, Demand, Load Profile, Interval Data • Savings Projections • Design, Construction, Commissioning • Ongoing Commissioning • Measurement and Verification (M&V) • Enables a clear definition of the complete process necessary to ensure performance • Can house multiple standards for different building types and business models • Energy Efficiency Performance Protocol - Large Commercial (EEPP-LC) • Create an accepted best practice approach to Large Commercial building retrofitting • Uses existing and accepted industry practices and standards • Define “appraisal pack” of documentation for EE Performance • A standardized approach to delivering investment ready project to market

  3. Managing Project Risk Factors

  4. Market Actors • Building Owners • Achieve acceptable ROI on their specific project • Access financing • Origination Partners • Be able to close business leveraging ESAs and other products • Allow for distributed models • Energy Service Companies • Deal flow with reasonable transaction costs through channels • Manageable performance risk

  5. Market Actors • Financial Markets • Ensure performance risk is managed correctly (by someone) • Correlate project performance with asset risk • Create large pools of consistent projects • Insurance Industry • Underwrite performance risk with a narrower band • Utilities / Capacity Markets • Bet on demand reductions to meet capacity needs, and achieve regulatory mandates • Manage EM&V risk • Treat Energy Efficiency as resource procurement • Access forward capacity markets • Carbon Markets? • AB32 in California

  6. Performance Risk Barriers • Project Demand • Lack of standards puts engineering overhead on each firm • Channels are rendered ineffective • Lack of transparency has created market inefficiencies • Savings Uncertainty • Lots of winners and losers (variance), creating uncertainty • Many approaches to savings estimation, installation, commissioning, etc. • Averages penalize performing projects, and incentivize low quality • Actuarial Data • Lack of quality and quantity of data results in a high degree of uncertainty • Getting data from industry, finance, and the energy sector is challenging • Data does not describe all factors that impact performance

  7. Energy Efficiency Performance Protocol First Energy Efficiency Performance Protocol designed for Large Commercial projects (EEPP-LC): • Large Buildings, where the cost of improvements and size of savings justifies greater time and effort in pre- and post- development energy analysis • Whole Building Retrofits, projects that involve multiple measures with interactive effects rather than a single piece of equipment • High Performing Projects, projects with sufficient depth necessary for pre- and post-retrofit meter data yields (i.e., savings can be anticipated to be of greater magnitude than noise)

  8. Energy Efficiency Performance Protocol • Required Elements • Required Procedures • Required Documentation

  9. Energy Efficiency Performance Protocol • Required Elements • Required Procedures • Required Documentation

  10. Project Performance Package EEPP standard documentation similar to an appraisal package: • Prescribed methods • Consistent taxonomy • Accepted measurement • Auditable results • Standardized documentation

  11. Adoption Strategy • STEP 1: Engagement of market players • Finance Companies • Utilities • Energy Services Companies • Insurers • Asset Owners • STEP 2: Outreach to project origination channels • Engineering Firms • Facility Management • Portfolio Managers, • Contractors, • Others?

  12. Next Steps • Become an ICP Partner • Specify EEPP-LC as your company’s standard for large commercial EE projects • Participate in the Process • Refining the EEPP-LC • Developing new sector and business model specific protocols • Hospitality, Multifamily, Residential , Health Care, Schools, etc. • Help the ICP Reach Critical Mass • A rising tide floats all boats • Help identify and engage additional channel and market partners

  13. Investor Confidence Project For More Information: Mary Barber mbarber@edf.org Matt Golden matt@efficiency.org

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