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Developing Protocols to standardize the development and documentation of energy efficiency projects in the built environment and accelerate their financing.

Objective

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.

Field of science

  • /social sciences/economics and business/business and management/commerce
  • /engineering and technology/environmental engineering/waste management/energy efficiency

Call for proposal

H2020-EE-2014-3-MarketUptake
See other projects for this call

Funding Scheme

CSA - Coordination and support action

Coordinator

ENERGYPRO LIMITED
Address
Nicholas House River Front
EN1 3FG London
United Kingdom
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
EU contribution
€ 535 912,50

Participants (7)

PLUS ULTRA ASSET MANAGEMENT GMBH

Participation ended

Germany
EU contribution
€ 0
Address
Brienner Strasse 11/5
80333 Muenchen
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
RDA - CLIMATE SOLUTIONS UNIPESSOAL LDA
Portugal
EU contribution
€ 218 750
Address
Rua Licinio De Carvalho 67 1°
3880-082 Ovar
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
DENKSTATT GMBH
Austria
EU contribution
€ 337 775
Address
Hietzinger Hauptstrasse 28
1130 Wien
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
THE ECOFIN RESEARCH FOUNDATION
United Kingdom
EU contribution
€ 233 750
Address
Burdette House 15 Buckingham Street
WC2N 6DU London
Activity type
Other
DNV KEMA LIMITED

Participation ended

United Kingdom
EU contribution
€ 26 625
Address
Cathedral Street 3 Palace House
SE1 9DE London
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
VERCO ADVISORY SERVICES LIMITED
United Kingdom
EU contribution
€ 338 125
Address
Overmoor Farm Neston
SN139TZ Corsham
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
SERIMUS
Luxembourg
EU contribution
€ 221 250
Address
11 Rue Beck
1222 Luxembourg
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)