The Environmental Defense Fund’s Investor Confidence Project (ICP) and Pacific Gas and Electric (PG&E) have launched a new pilot project to accelerate energy efficiency retrofits on existing buildings.
The program will provide interest-free loans to energy performance contractors who use ICP’s Investor Ready Energy Efficiency (IREE) certification. This certification brings rigorous measurement and verification metrics to energy efficiency retrofit projects.
The interest-free loans will be offered under PG&E’s existing On-Bill Financing (OBF) program, giving qualifying energy efficiency projects in existing commercial and multifamily buildings access to up to $100,000 at no interest. Qualifying projects will show positive cash flow for building owners – meaning loan payments will be less than bill savings.
EDF’s ICP is also running a pilot through the New Jersey Board of Public Utilities (NJBPU), and is the standard for property-assessed clean energy loans (PACE) in the state of Texas. Additional ICP programs for building owners, investors, and performance contractors exist in a half-dozen other states in the U.S. and across the European Union.
Related Stories
Codes and Standards | Oct 9, 2018
Power systems will become more decentralized for better disaster resiliency
Businesses, homeowners will control more power-generation capacity.
Codes and Standards | Oct 5, 2018
Getting commitments from key subs critical on government contracts
Withdrawn subcontractor bids can be costly.
Codes and Standards | Oct 4, 2018
Internal watchdog says EPA falling short to protect school children from asbestos
Agency not conducting enough inspections, report says.
Codes and Standards | Oct 3, 2018
Climate change impacts could prompt realignment of assets for commercial property developers
Strategies include reducing exposure to properties in flood-prone areas.
Codes and Standards | Oct 2, 2018
Political will, tougher standards needed to reach carbon neutral goal
Stretch codes, more stringent credentials for designers, contractors, and inspectors may be needed.
Codes and Standards | Sep 27, 2018
Natural light is the most prized office perk
Employees crave sunshine and views of the outdoors more than cafeterias, fitness centers, and childcare.
Codes and Standards | Sep 26, 2018
Industry consensus needed for multifamily energy efficiency retrofit approach
Choice of insulating materials can impact indoor air quality, resident health.
Codes and Standards | Sep 25, 2018
New market forces disrupting global real estate development industry
Executives concerned about trade policy, labor shortages, approval processes.
Codes and Standards | Sep 21, 2018
More than 130 organizations petition OSHA to create heat protection standard for workers
Includes mandatory rest breaks, heat-exposure monitoring, record-keeping injury requirement.
Codes and Standards | Sep 20, 2018
North Carolina law banning use of recent climate science could worsen Hurricane Florence impact
Policies may have undermined ability to make coastal regions more resilient.