On 30 June 2016, the Investor Confidence Project (ICP) Europe launched the Investor Ready Energy Efficiency” (IREE) certification, a system ensuring that energy efficiency projects deliver the savings they promise and meet the needs of interested investors.
According to ICP Europe, the IREE certification is aimed at reducing transaction costs and increasing confidence in savings, which is hoped to help engage private capital and scale up energy efficiency investments globally.
“This new Investor Ready Energy Efficiency certification has the potential to unlock Europe’s building retrofit market, which is worth upwards of EUR 100 billion per year,” said ICP project director Panama Bartholomy. “Launching the certification in Europe is a milestone for our project – and for enabling mass-scale investment across the sector.”
A National Health Service (NHS) retrofit project in Liverpool, United Kingdom, is the first to use the certification in Europe, which leverages best practices that reduce transaction costs and help ensure that projects achieve the desired savings. The £13-million project was developed by the Carbon and Energy Fund with financing from Macquarie Group and energy performance contractor Engie (formerly Cofely).
IREE-certified retrofit projects have been originated by a credentialed project developer and verified by a credentialed quality assurance provider. Thus, owners and investors should rest assured projects were developed using best practices by the best professionals, and every calculation has been checked and verified by an independent body before they consider the investment.
For further information, please visit the relevant eceee webpage at the link below.