On 29 February 2016 the Investor Confidence Project (ICP) Europe published six project guidelines to spur investment for building energy renovation. Building owners, project developers, finance and energy service providers, insurers, local authorities and utilities all stand to gain from the ICP system, which promises mass-scale financing for the building renovation market by standardising how energy efficiency projects are developed, maintained and measured.
At present, “only half of the estimated €60 – 100 billion annual investment required to achieve Europe’s 2020 energy efficiency targets in buildings is being met,” according to Achim Steiner, UNEP Executive Director and Under-Secretary-General of the UN.
“For all stakeholders, a clear positioning of the values and benefits of Energy Performance Contracting, together with project financing represent the most crucial issues. The ICP Europe Protocols provide an underpin of existing standards, practices, and documentation. The Protocols structure the necessary data, which in turn enables the underwriting and facilitates the management of energy performance risks. This is a welcome support for the development of the European Energy Performance Contracting market with the longer term goal of reaching maturity.”, said Volker Dragon, Chairman of eu.esco.