A recent decision by New Jersey utility regulators to standardize energy efficiency procedures for commercial buildings could have a major impact – not just on the Garden State – but on energy markets nationwide.
The reason: It gives investors more confidence in performance and returns which is exactly what can fuel a big push to make buildings across the United States more efficient. It might eventually transform our energy efficiency market into an economic power house.
Giving investors peace of mind
Energy efficiency is an untapped opportunity of enormous proportions. An estimated $279 billion could be invested in residential, institutional and commercial sector retrofits – with the latter holding the largest potential.
Enter Environmental Defense Fund’s Investor Confidence Project, which provides tools to help investors assess risk more accurately.
Through rigorous measurement and verification metrics, and by standardizing the way projects are developed and brought to market, the initiative brings better financial and environmental results. By reassuring developers, building owners and investors, it can fill the gap between a proposed energy efficiency project and the ability to finance it.
New Jersey is the first state in the nation to incorporate ICP protocols into an existing state energy efficiency program for commercial buildings, and we hope to deploy this model nationwide.
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