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 | Mar 21, 2019
New York City contractors adding 5% to 10% to construction costs due to trade war
Tariffs on steel, aluminum, and other materials swell budgets.
Codes and Standards | Mar 20, 2019
Codes organizations to develop new guidelines on shipping containers as building components
Intl. Code Council and Modular Building Institute combine forces.
Codes and Standards | Mar 19, 2019
Plan for transformation of Lower Manhattan streetscapes unveiled
Pedestrian-friendly “Slow Streets” pilot starts on Earth Day 2019.
Codes and Standards | Mar 15, 2019
Newly developed building materials could have big impact on sustainability
Transparent wood, self-cooling walls, bricks that filter air pollutants among the technological breakthroughs.
Codes and Standards | Mar 14, 2019
U.S. and Canada differ on how to evaluate field performance of windows, curtain walls
Variations include laboratory test method for determining rate of air leakage.
Codes and Standards | Mar 13, 2019
Climate change can’t be stabilized without addressing urban sprawl
Even if power goes green, transportation will still be a major emissions source.
Codes and Standards | Mar 12, 2019
Virginia county hones new rainwater harvesting standard
Developer prompts new rules to use rainwater for heating and air conditioning.
Codes and Standards | Mar 8, 2019
Portland delays requirement for posted warnings on unreinforced brick and stone buildings
Regulation would mandate signs warning that buildings could be unsafe during earthquakes.
Codes and Standards | Mar 7, 2019
California will allow flame retardant-free building insulation
State also repeals business furniture flammability standard.
Codes and Standards | Mar 6, 2019
Sixty six construction companies cited for wage theft violations in Massachusetts
Penalties total $2.7 million.
