Investor Confidence Project has announced that Performance Systems Development has qualified for the ICP Quality Assurance Credential, and is now authorized to conduct third-party review for projects originated by Credentialed Project Developers and certify those projects as Investor Ready Energy Efficiency™ (IREE).
This credential authorizes third-party Credentialed Quality Assurance providers to verify that a project conforms to a set of ICP protocols and certify projects as Investor Ready Energy Efficiency™.
For more information, read the Investor Confidence Project’s press release below.
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Investor Confidence Project Press Release
NEWS RELEASE
Contact: Anita Jain, (212) 616-1285, anjain@edf.org
Building Blocks of a True Energy Efficiency Market Now In Place
New Credential from Investor Confidence Project Adds Quality Assurance to the Mix
(NEW YORK – June 18, 2015) The Investor Confidence Project (ICP), an Environmental Defense Fund initiative designed to unlock investment in energy efficiency, today announced the launch of the ICP Quality Assurance Credential for companies with the skills, training, and experience to provide independent review of ICP projects.
This last of three key credentials authorizes third-party Credentialed Quality Assurance providers to verify that a project conforms to a set of ICP protocols as well as certify it as an Investor Ready Energy EfficiencyTM project. The completion of the ICP credentialing system marks a crucial step forward for ICP and the standardization of the commercial and multifamily energy efficiency industry as a whole.
The other two credentials include the Software Provider Credential, which is given to software providers who are able to document energy efficiency projects according to ICP standards, and the Project Developer Credential, which is given to those developers who are able to properly deploy the ICP protocols when undertaking an energy efficiency retrofit;
We are pleased to announce nine highly qualified firms have qualified for the Quality Assurance Credential: ARUP, Bolder Energy Engineers, Celtic Energy, Environmental Building Strategies, Performance Systems Development, SBW Consulting, SCIenergy, Sustainable Real Estate Solutions, and TRC Energy Services.
These firms are now authorized to conduct third-party review for projects that were originated by Credentialed Project Developers. If these projects comply with ICP protocols, the Quality Assurance Provider can certify them as an Investor Ready Energy EfficiencyTM (IREE) project, which indicates the project has undergone a standardized and independent technical review process.
The IREE logo also assures building owners and investors of all types that the underlying engineering fundamentals of a project are sound and that predicted returns have been calculated correctly.
For building owners, this translates to confidence that projects will deliver projected savings. For investors, standardized projects and documentation enable efficient due diligence, faster underwriting, and more reliable investment returns.
With the ICP system and provider network now in place, ICP looks forward to an ever-increasing deal flow of Investor Ready Energy EfficiencyTM projects in the marketplace. This standardization of projects opens up a pathway for the aggregation of energy efficiency projects for institutional investors and secondary markets.
ICP’s goal is to accelerate the development of a global energy efficiency market by standardizing how retrofit projects are developed and energy savings are calculated. We want to transform energy efficiency from complex one-off projects to a true marketplace where projects can be underwritten with confidence by building owners, investors, and utilities, and eventually by secondary markets. ICP looks forward to supporting our growing network of credentialed providers to streamline the marketplace and make this vision a reality.
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Environmental Defense Fund (edf.org), a leading international nonprofit organization, creates transformational solutions to the most serious environmental problems. EDF links science, economics, law, and innovative private-sector partnerships. Connect with us on Twitter, Facebook, and our Energy Exchange blog.
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