Download EDF PowerPoint Template

Environmental Defense Fund’s
Investor Confidence Project
New Jersey Clean Energy Program
Energy Efficiency Committee
May 16th 2014
Breaking Down Barriers to EE Finance
Performance
Risk
Project Finance
Asset
Risk
Long-term financing
of projects based
upon the projected
cash flows of the
project rather than
the balance sheets of
its sponsors.
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Benchmarking
Asset Labeling
Disclosure
Credit
Risk
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On-Bill Repayment
Commercial PACE
Green Banks
Near-Term: Increase Deal-Flow
• Increase Confidence in Savings
• Reduce Transaction Costs
• Streamline Origination Process
Long-Term: Reduce Performance Risk
• Develop Data to Manage Performance
• Attract Project Finance Investors
• Enable Portfolios and Securitization
How Do You Know What Your Getting?
ICP Energy Performance Protocols
Cx
BASELINING
SAVINGS
COMMISSION
OPERATIONS
MEASUREME
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Existing Building
Drawings
Weather File
Energy Usage
Energy Rates
Occupancy
Model File
Calibration Data
Bid Packages
Certifications
Cx Plan
Cx Authority
Test Procedures
Facilities Req.
BMS Points
Fault Plan
Maintenance
Plan
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M&V Model
Regression
Model
Adjustments
Impact
Baseline
Adjustments
Investor Ready Energy Efficiency
Project
Development
Quality
Assurance
• Simplify technical underwriting process
• Ensure projects follow industry best practices
• Increase confidence in project savings
Investor Ready Energy Efficiency
Building Owners
Financial Markets
Greater confidence in savings
Ensure performance risk is managed
Access competitive financing
Create large pools of conforming projects
Project Developers
Insurance Industry
Connect projects to capital
Underwrite performance risk
Manage performance risk
Reduce transaction time and costs
Energy Service Companies
Technology Providers
Increase deal flow by accessing channels
Common project taxonomy that crosses platforms
Reduce engineering transaction costs
Help your customers connect projects to investors
Manage performance risk
Utilities / Capacity Markets
Programs and NGOs
Meet capacity and regulatory requirements
Link efforts to a marketplace of investors
Manage EM&V risk
Develop a national market with common standards
Investor Confidence Project Roadmap
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Large Commercial
– Larger Project (over $1MM), Whole-building retrofits
– Large Commercial Update v1.1 Released June ‘13.
• Standard Commercial
– Smaller projects (under $1MM), Lighter engineering requirements
– V1 Released September 2013
• Targeted Commercial
– Single Measure or Non-Interactive Retrofits
– Released January 2014
• Multifamily (Targeted / Standard / Large)
– Release April / May 2014
Open Energy Data can be freely used, shared and
built-on by anyone, anywhere, for any purpose.
OPEN ENERGY DATA Initiative
• PHASE I - Residential Unsecured Energy Efficiency Loan Data
4 Programs / $103,649,269 Loan Volume / 11,479 Loans
Energy Efficiency Loan Dashboard – Volume by Program
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PHASE II – Expand Dataset / Open Energy Data Platform
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Commercial / Multifamily / Single Family
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Project / Building Details / Underwriting
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Energy Efficiency Performance
Next Steps for ICP
• Ally Network and Partnership
– Expand Network of ICP Allies
• Project Developers
• Energy Efficiency Investors
– Create alignment across Public Energy Efficiency Programs
• Commercial PACE / OBR
• Benchmarking Initiatives
• Market Transformation (Better Buildings / Arch 2030 / etc.)
• Open Energy Data
– Expand platform to include additional datasets
– Capture actuarial data associated with ICP protocols
• Investor Confidence Project - Europe
– Developing sister international ICP for the EU and UK
Thank You to our ICP Ally Network
www.EEperformance.org