The Investor Confidence Project (ICP) developed by the Environmental Defense Fund (EDF) provides a roadmap for energy efficiency retrofits in multifamily and commercial buildings. The framework of this project synthesizes information about the prediction and measurement of energy savings in order to accelerate energy efficiency investments in the building sector. It aims for all retrofit projects to be cost-effective by providing stable, predictable, and reliable savings outcomes. The ICP works in collaboration with building industry experts including engineers, regulators, insurers, utilities professionals, and financial market participants to achieve standard definitions and measures that are critical for catalyzing private investments in energy efficiency in buildings.
The ICP outlines project development specifications to ensure that projects are deemed as “Investor Ready Energy Efficiency.” It also certifies project developers and software providers to ensure the proper measurement of savings. The ICP specifications are divided into five categories:
Together, these categories capture the entire lifecycle of a project from conception to execution. The ICP also establishes minimum requirements for elements, procedure, and documentation within each category. Through these practices, the ICP reduces transaction costs by assembling existing standards and practices into a consistent and transparent process. This process promotes efficient markets by increasing confidence in energy efficiency as a demand-side resource. ICP recognizes this effort as an ongoing one and encourages active participants to test the specifications and share their results so that the project will continue to evolve and improve.
Incorporating the ICP standards, or ones similar, into the design of the City’s Retrofit Accelerator could help establish a foundation of documented savings from consistently performed energy efficiency retrofits. This incorporation could also help alleviate uncertainty for future projects.To learn more about the Investor Confidence Project, please see the "Related Resources" tab.
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