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Investor Confidence Project Comes to Texas

moneyAn innovative program to standardize investment protocols in energy efficiency programs is coming to Texas with the introduction of Keeping PACE in Texas.

The Environmental Defense Fund (EDF) said it is dedicated to bringing property assessed clean energy (PACE) programs to the state. The do-it-yourself toolkit embeds energy efficiency protocols developed by EDF’s Investor Confidence Project (ICP).

The investor confidence project (ICP) protocols aim to bring transparency and accountability to the energy efficiency market by introducing a system of standardization to the way commercial building retrofits are developed, funded, and measured.

The program combines best practices and technical standards to define a clear roadmap for developing projects, estimating energy and financial savings, and documenting and verifying results. A 98,000-sq-foot office building in Bridgeport, Conn., was the one of the first successful projects using the protocol last year.

The incorporation of the ICP protocols for Texas officials interested in launching the program, called PACE in a Box, shows growing momentum across the country, EDF says.

Keeping PACE in Texas joins ICP’s rapidly expanding Ally Network, which includes Connecticut’s Green Bank and the LA Better Buildings Challenge.

The Texas state legislature recently approved PACE programs, which allow property owners to finance energy efficiency upgrades through their property tax bills. PACE in a Box outlines the steps a local government should take to establish an effective PACE program quickly and economically.

Incorporating ICP’s standards into its toolkit allowed Keeping PACE in Texas to avoid the costly and time-consuming process of developing proprietary program standards. The business association initially investigated developing a set of technical standards for undertaking energy efficiency upgrades for the toolkit, but decided market-tested ICP protocols could expedite the release of PACE in a Box.

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