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
| Mar 30, 2014
Solar panels on Big Ben intended to spur U.K.’s sustainability targets
Solar panels may soon be installed on the face of Big Ben in London as part of the U.K.'s initiatives to reach its greenhouse gas emissions objectives under the Climate Change Act of 2008.
| Mar 26, 2014
EPA clarifies Clean Water Act in revision that was opposed by developers
The Environmental Protection Agency recently unveiled a rule designed to define more clearly which waterways are covered by the Clean Water Act and therefore require U.S. permits for certain activities.
| Mar 26, 2014
Better Buildings Initiative leading to tens of millions of dollars in savings annually, says DOE
Facilities across the nation have been able to shave on average about 2.5% of their annual utility costs through efficiency initiatives spurred by the federal Better Buildings Initiative, according to the Department of Energy’s Maria Vargas.
| Mar 26, 2014
Univ. of Nebraska-Omaha fire could prompt building code changes
A dormitory fire at the University of Nebraska at Omaha that displaced with 42 students (but caused no injuries) could trigger local building code changes.
| Mar 26, 2014
Associated Builders and Contractors wary of federal overtime rules changes
Associated Builders and Contractors (ABC) cautioned that President Obama’s directive to the U.S. Department of Labor to change federal overtime rules could harm its members.
| Mar 19, 2014
Oklahoma City mandates safe rooms in new schools
The move will affect 24 districts that have schools inside Oklahoma City limits.
| Mar 19, 2014
Green building standards can help building become more storm-resistant
Structures built to green standards have added resilience to destructive storms because green buildings are often constructed with stronger, more sustainable materials than traditional buildings.
| Mar 19, 2014
Ohio Senate passes rule to require state agencies use ANSI standards rather than LEED
The resolution specifically mentions LEED v4, and calls for the U.S. Green Building Council to conform to ANSI.
| Mar 19, 2014
Tucson ignores ADA, building code on city-owned property
The city has been operating a downtown dirt parking lot in violation of its own code and the federal law for years.
| Mar 19, 2014
Santa Monica, Calif., may offer LEED alternatives to help promote green construction
With developers in Santa Monica, Calif., looking for ways to build green more inexpensively, the city may consider alternatives to LEED such as Green Globes.