New energy performance protocols developed by the Investor Confidence Project (ICP) Europe are expected to contribute to the development of smarter cities and the built environment across Europe.
The six protocols for building renovation bring together international, European and national standards and best practices to provide all market players in the European renovation and investment community with tools to improve the bankability of building energy renovation projects.
The protocols are designed to address all types of commercial, institutional and apartment projects and will standardise how energy efficiency projects are developed and measured.
According to ICP Europe, each defined energy performance protocol creates a set of documentation that will help standardise project performance underwriting, leading to better data on performance and a more efficient marketplace with less duplicative engineering and lower transaction costs. This is anticipated to result in an increase in deal flow and a more transparent and efficient market.
The ICP Europe consortium is led by Dr. Steven Fawkes, a member of the Investment Committee of the London Energy Efficiency Fund with 30 years’ experience of energy efficiency, including founding two energy service companies.
Commenting last September on the release of the first draft protocols, he said:
“Governments and NGOs have for years been banging on about how energy-efficiency is the low hanging fruit, often bringing a healthy return on investment. But, despite the actions of a few market leaders, investing in it is clearly not as easy as it’s made out to be, otherwise everybody would be at it. We want to change that. We want to make it become an indispensable part of every institutional investor’s portfolio.”