Energy Exchange

Old Cities, New Tricks: Sustainability for Economic Revitalization

This commentary originally appeared on our EDF Voices blog by Ben Schneider, EDF Communications Manager

Love Park in Center City, Philadelphia, Pennsylvania. The park is nicknamed Love Park for Robert Indiana's Love sculpture which overlooks the plaza.

Love Park in Center City, Philadelphia, Pennsylvania. The park is nicknamed Love Park for Robert Indiana’s Love sculpture which overlooks the plaza.

Curbing pollution to protect the world now and for future generations is an obvious argument in favor of sustainability. But as organizations and companies throughout the country are demonstrating, sustainability is also big business. So much so, in fact, that some of America’s oldest cities are embracing it as a way to revitalize their economies.

Want proof it can work? Look no further than Philadelphia. It’s a quintessentially historic city – the Founding Fathers signed the Declaration of Independence and established the U.S. Constitution there, after all. And if you’ve ever spent any time there, you’ve probably noticed its history is still a central part of its identity. The William Penn statue atop City Hall, Independence Hall, the cobblestone streets – Philadelphia has gone to great lengths to preserve the past as an intrinsic part of its modern character.

Digging a little deeper, it’s clear the city has its eye on the future much more than the past. Greenbuild held their annual conference in Philadelphia last month, and it was abundantly clear public and private entities alike are investing time and resources to aggressively reinvent Philadelphia as a model of 21st century efficiency and sustainability, and they’re not alone.

Hundreds of companies and organizations, and 30,000 attendees, set up shop throughout the city’s Convention Hall to show off their latest work in sustainable building practices. The expo has grown so large it attracted former Secretary of State Hillary Clinton for the key note address, who spoke of the potential for green building to bolster the nation’s economy and help America achieve energy independence.

Philadelphia organizations embraced their time in the green building spotlight and emphasized the city’s progress and intent:

  • The city’s water department is two years into a 25-year plan to implement a groundbreaking, city-wide storm water management plan that will drastically reduce water pollution and reinvent the city’s infrastructure in the process.
  • The Navy Yard — which dates back to 1776, when the United States needed to bolster its navy for the Revolutionary War and was shuttered in the mid-1990s – has been remade into a 1,200 acre business campus where 130 companies now utilize the space for offices, manufacturing, research and development, and more.

These kinds of stories are important to remember as the environmental movement continues to broaden our circle of supporters. Within the traditional base of the environmental movement, calls to preserve the world we leave our kids resonate deeply. But we’ll need more non-traditional allies if we’re going to enact the kind of sweeping reforms needed to fight climate change. Adding the economic and financial benefits of sustainability to the conversation are one way to do that.

Philadelphians embrace their rich heritage as much as any city in America – and as they demonstrate, that’s no reason not to look toward the future with excitement as well.

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EDF’s Energy Efficiency Protocols Gain Traction

By: Matt Golden, Senior Energy Finance Consultant, Environmental Defense Fund

Source: Spark Energy

Source: Spark Energy

Environmental Defense Fund’s (EDF) Investor Confidence Project (ICP) aims to bring transparency and accountability to the energy efficiency market by introducing a system of standardization. Traditionally, most energy efficiency analyses are done by the companies selling retrofit services to commercial building owners and investors, resulting in biased results that do not always ensure return on investment (ROI).  Additionally, inconsistencies in the methodology for arriving at these ROI metrics have created barriers to standardizing a measure of success for energy retrofits.

For the first time, ICP’s Energy Performance Protocols were used to leverage financing for a $2 million office building retrofit in Bridgeport, Connecticut.  This new model could accelerate the vast potential of energy efficiency retrofits in commercial buildings.

ICP’s protocols have been developed with broad stakeholder participation including engineers, industry allies, financial market participants, insurers, regulators and utilities.  The protocols aim to significantly increase stakeholder confidence in the resulting savings by: Read More »

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Don’t Miss Three Important, Upcoming Webinars from EDF’s Investor Confidence Project

By: Matt Golden, Senior Energy Finance Consultant, Environmental Defense Fund

 

Nearly 40% of U.S. energy is consumed by both residential and commercial buildings, which emit more than a third of our country’s greenhouse gases. Realizing all of the available cost-effective energy efficiency savings would require roughly $279 billion of investment, resulting in more than $1 trillion in energy savings over ten years.

Environmental Defense Fund’s Investor Confidence Project (ICP) opens up energy efficiency to investment markets by laying the foundation necessary to enable organizations to tap into this vast potential. This means turning energy efficiency upgrades in the commercial building sector into an asset that can be bought and traded, much like stocks and bonds.  By developing a straightforward set of protocols that define a clear road-map for upgrades, ICP creates an investment-quality asset class whose risks and returns are transparent. Ultimately, large-scale adoption of the ICP framework will reduce transaction costs and engineering overhead, while increasing the reliability and consistency of savings.

ICP will be hosting a series of webinars targeted at specific stakeholders in the energy efficiency sector, and strongly encourage individuals and organizations interested in the future of the energy efficiency industry to attend.  With the assistance and feedback of industry leaders, investors and programs, ICP has developed a range of Energy Performance Protocols tailored to market needs and project types that will reduce transaction costs, manage performance risk and increase deal flow.  Our webinar schedule this fall will focus on how these protocols can create value for individual projects, organizations and the energy efficiency industry as a whole.

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One Year After Superstorm Sandy, Slow But Steady Progress Toward A Common Goal

Source: Iwan Baan

By: Rory Christian, Director of New York Smart Power, and Mary Barber, Director of Smart Power Initiatives

It was only a year ago that the most devastating storm the Northeast has ever seen slammed into the region. Hurricane Sandy pummeled the states of New York and New Jersey, destroying homes and businesses and knocking out electricity for millions of families for days, weeks and – in some cases – months.

The unprecedented situation shined a much-needed spotlight on the vulnerability of our century-old energy infrastructure, placing the issue front and center for the region’s state and local leaders, electric utility companies and regulators, particularly as climate change increases the frequency of extreme weather events.  Utilities in the region have since begun to fortify flood-prone substations among other reinforcements to the power grid, but improvements that are ‘status quo’ are only part of the solution to future challenges.

Ensuring the adoption of technologies and policies that move the U.S. power grid into the 21st century, making it more resilient, flexible and smarter, can simultaneously accomplish today’s goals while preparing for future challenges – some of which may not yet be apparent.  EDF is working closely with stakeholders to find innovative and pragmatic solutions to help modernize our aging energy infrastructure, an improvement that is crucial to resiliency, safety and storm recovery. Read More »

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Welcome To Chicagoland

This commentary originally appeared on EDF’s Climate Corps blog.

By: Sitar Mody, Senior Manager of Strategy, Environmental Defense Fund

Today, EDF Climate Corps is thrilled to launch a major initiative to accelerate energy performance in buildings in the city of Chicago.

Chicago is a beautiful city. Chicago is an historic city. Chicago is also a city with a clear and powerful dedication to advancing energy efforts citywide. Many buildings in Chicago are already on a path to greater energy management having committed to Retrofit Chicago – the city’s premier initiative to help buildings reduce their energy use by 20% over 5 years.

EDF’s new Building Energy Initiative in Chicago will complement Retrofit Chicago by giving building owners and operators the “boots on the ground” to sustain their commitments and facilitate access to advanced energy markets – all to save money and the environment.

EDF is recruiting 50 buildings in the city to participate in EDF Climate Corps and developing a robust network for building owners and operators to accelerate adoption of leading energy management practices and gain confidence in implementing innovative investments. We also have two experts, Devesh Nirmul and Ellen Bell, on the ground in Chicago to provide year-round technical support.

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ICP Protocol For Standard Commercial Projects

By: Matt Golden, Senior Energy Finance Consultant, Environmental Defense Fund

The Investor Confidence Project (ICP) is pleased to announce the release of our newest Energy Performance Protocol for Standard Commercial projects – defined as multiple-measure energy efficiency projects typically costing less than $1MM.

This protocol strikes a balance between engineering and measurement and verification best practices and the need for a streamlined, cost-effective approach to developing a standardized investment quality energy efficiency project.  This latest addition complements our existing Large Commercial Protocol in an effort to develop a family of protocols addressing the range of projects types common in the growing energy efficiency retrofit marketplace.

The goal of the Energy Performance Protocols, as a whole, is to reduce transaction costs associated with investing in energy efficiency projects by standardizing how projects are baselined, engineered, installed, operated and measured.  This allows investors and building owners to gain confidence in the long-term return on their energy efficiency investments.  The goal is to bring together project originators, building owners and investors in a more transparent, and thus more robust, marketplace.

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