The newly formed Investor Confidence Project (ICP) is attempting to provide a definitive set of criteria for energy efficiency projects—a kind of good housekeeping standard for green investments.
Created by the Environmental Defense Fund (EDF), ICP aims to provide confidence in investments for energy efficiency upgrades, a needed service the organization says will help spur more such projects. “In today’s commercial real estate market, there are a variety of different standards for identifying, designing, and implementing accretive energy efficiency projects,” writes John Rockwell, a national client manager at Partner Energy, an energy consulting firm.
“This variety creates uncertainty among building owners, managers, and investors who seek to understand Return on Investment (ROI) of potential efficiency projects. Compounding this issue is the fact that energy projects are often too small and too unique to effectively underwrite and reflect in the valuation of the real estate as a whole.”
Rockwell writes that the ICP’s adherence to rigorous engineering standards makes for more confident investing in sustainable projects.
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