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 | Jun 12, 2018
Congestion pricing for cars is effective in reducing traffic, but a difficult sell
After three years, traffic congestion declined by 30% in London.
Codes and Standards | Jun 11, 2018
First RFP requiring modular construction on New York City housing project issued
Part of Housing 2.0 modular construction initiative.
Codes and Standards | Jun 6, 2018
Buffalo, N.Y., contractor exec pleads guilty to fraud for bid rigging on $750 million contract
LPCiminelli stops functioning as GC in fallout from the case.
Codes and Standards | Jun 6, 2018
LEED should be updated to combat climate change
Hasn’t kept pace with urgency of problem, says clean energy investor.
Codes and Standards | Jun 5, 2018
Sports stadiums and arenas showcase sustainability features
Green venues save owners money, gain positive publicity.
Codes and Standards | Jun 4, 2018
L.A. must transition to cleaner energy, boost transit to reach sustainability goals
City aims to reduce GHGs 60% by 2035 and 80% by 2050.
Codes and Standards | Jun 4, 2018
Washington D.C.’s flattened skyline can be a virtue
Zoning ordinance that ties building heights to width of streets dictates form.
Codes and Standards | May 30, 2018
Silicon Valley cities considering taxes aimed at large employers
The aim is to offset the impact on housing costs and homelessness by tech companies.
Codes and Standards | May 30, 2018
OSHA proposes new crane operator safety rule
Would provide long-term clarity on certification requirements.
Codes and Standards | May 29, 2018
Government support helping to drive demand for green building materials
Market projects to grow 12.5% annually between 2013 and 2019.