Investor Confidence Project expands to cover industrial projects, street lighting & district energy
Verco has recently started work on the next phase of development of the Investor Confidence Project (ICP) initiative, developing a best practice approach to delivering industrial energy efficiency projects, following the successful rollout of the ICP scheme for building retrofits.
The Investor Confidence Project (ICP) is a global initiative that focuses on increasing energy efficiency deal flow by ensuring that projects are engineered robustly, financial returns are predictable, and project underwriting can be streamlined.
ICP’s objective is to increase the flow of investment into the energy efficiency market, which represents a significant opportunity for investors and asset owners alike. It provides a system for standardising how projects are developed, documented and measured. The Investor Ready Energy Efficiency (IREE) label ensures that projects are developed using best practices, the right professionals and third-party validation. At the core of the ICP framework are the ICP Protocols which assemble best practices and existing technical standards for the lifecycle of energy efficiency projects.
Some of the benefits of using the ICP system include:
A repeatable project process
A best practice approach to predicting project savings and subsequently realising those savings
Increased ability to attract third party finance, through the provision of the Investor Ready Energy Efficiency (IREE) label
Having focused specifically on the buildings sector, ICP Europe is now developing similar documentation which can be applied to energy efficiency projects in the industrial district energy and street lighting sectors. We are focusing first on the industrial sector. We are therefore particularly interested in expertise in this sector to help us shape the development of these new products and tools
Opportunities to participate
ICP Europe is looking for expressions of support, feedback on the tools we develop, and projects that can benefit from the ICP system.
The ICP Technical Forum
The ICP Technical Forum is an advisory group of experts representing a wide range of sectors and expertise that provides high level feedback on the ICP protocols and supporting tools during the development process. This forum is open in attendance and meets periodically via webinar.
Our first Technical Forum for Industry meeting will be on 14th September, with two subsequent monthly meetings after that (dates to be confirmed).
Preparatory information will be sent to participants before each meeting for review. During the meeting, we will welcome input and feedback on this information in order to make our meetings as constructive and collaborative as possible.
Signing up as an ICP Ally
The ICP Europe Ally Network provides valuable input and advice on the development and deployment of the programmes and products of ICP Europe. ICP allies have agreed to support the goals of ICP Europe: reducing energy efficiency projects performance risk, lowering transaction costs and increasing project demand.
You can sign up on the website here: http://europe.eeperformance.org
Projects
If you are developing an industrial energy efficiency, street lighting or district energy project, and would like to be among the very first globally to benefit from the ICP system, please get in touch.
Contact: Bethan Phillips, Principal Consultant, Verco, bethan.phillips@vercoglobal.com
The ICPEU and I3CP projects have received funding from the European Union’s Horizon 2020 research and innovation programme under grant agreements No 649836 and 754056. The sole responsibility for the content of this document lies with the authors. It does not necessarily reflect the opinion of the European Union. Neither the EASME nor the European Commission are responsible for any use that may be made of the information contained therein.