A tool to make investments in energy efficiency upgrades more appealing to investors has been used in the upgrade of an office building in Connecticut. Environmental Defense Fund (EDF) said Investor Confidence Project (ICP) protocols were employed for a 98,000 square foot office building in Bridgeport.
ICP is designed to open energy efficiency markets to a wide range of investors, from building owners to financial institutions, and the secondary markets. EDF hopes the protocols accelerate the vast potential of energy efficiency retrofits in commercial buildings by significantly increasing stakeholder confidence in the resulting savings. The ICP framework outlines a straightforward set of protocols that define a clear road-map for upgrades, following the life cycle of the building’s upgrade project and integrating the existing array of standards to ensure the project delivers real savings.
The ICP protocols lower transaction costs and increase access to capital. The ICP Energy Performance Protocols were developed by EDF with industry participants that include Sustainable Real Estate Solutions, Inc., EMCOR Services New England Mechanical and Connecticut’s Clean Energy Finance and Investment Authority.