ICPEUProject reference: 649836
Funded under :
Developing Protocols to standardize the development and documentation of energy efficiency projects in the built environment and accelerate their financing.
Total cost:EUR 1 912 187,5
EU contribution:EUR 1 912 187,5
Coordinated in:United Kingdom
Topic(s):EE-19-2014 - Improving the financeability and attractiveness of sustainable energy investments
Call for proposal:H2020-EE-2014-3-MarketUptakeSee other projects for this call
Funding scheme:CSA - Coordination and support action
The importance of increasing investor confidence in energy efficiency as an asset class was stressed in a recent EU chartered Energy Efficiency Financial Institutions Group report which also highlighted the US based Investor Confidence Project as “a relevant model” and recommended “an EU Investor Confidence Project”. This project will deliver that Investor Confidence Project (ICP) to the EU.
Several studies document the potential energy savings for efficiency investments as well as the scale of the investment needed. BPIE estimated EUR937bn investment would be necessary in their Deep Scenario to achieve 78% energy savings and 90% CO2 savings.
Despite evidence of the potential attractiveness of investments, the flow of finance into energy efficiency remains much lower than required. Analysis reveals several barriers that hold private capital back but especially a lack of standardised processes and documentation, analogous to those used in the oil & gas and renewables industries. All financial markets are enabled by buyers and sellers agreeing standards. Scaling up investment in efficiency will require standardisation and greatly increased capacity in the financing market – ICP Europe addresses these issues.
The project will work with key stakeholders to develop open source Protocols and apply them to real projects. The project has measurable KPIs but the real aim is to get commitment from investors that they will specify the use of the Protocols by project developers seeking finance – making them standards.
The advantages of standardization, the adoption of the ICP in the US, and the high level of interest from EU investors that this pan-European multi-disciplinary consortium has already demonstrated lead us to believe that this is realisable objective within the 36 month project. A few key early financial adopters in each market will lead to wider adoption. We have already identified and engaged with a significant number of potential early adopters.
EU contribution: EUR 535 912,5
NICHOLAS HOUSE RIVER FRONT
EN1 3FG LONDON
EU contribution: EUR 0
BRIENNER STRASSE 11/5
EU contribution: EUR 218 750
RUA LICINIO DE CARVALHO 67 1°
EU contribution: EUR 337 775
Hietzinger Hauptstrasse 28
EU contribution: EUR 233 750
BURDETTE HOUSE 15 BUCKINGHAM STREET
WC2N 6DU LONDON
EU contribution: EUR 26 625
CATHEDRAL STREET 3 PALACE HOUSE
SE1 9DE LONDON
EU contribution: EUR 338 125
OVERMOOR FARM NESTON
EU contribution: EUR 221 250
11 RUE BECK