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Vic Government EPCs since 2009
29 projectscovering
745 buildingssaving
37% (average GHG saving)
and
$418 million (net over life)
and
savings are guaranteed
An integrated process with a savings guarantee
Request for Proposal
Detailed Facility Study
Install solutions
M&V
EPCDFSA
More savings
Guarantee reduces risk
Low risk supports financing
Doesn’t require customer to be an expert
Careful application of the M&V protocol:
A. Data logging systems/equipment
B. New meters on relevant circuits
C. Annual site bills
D. Modelling
As per blue box in upper right corner
Measurement and verification of
savings. This text box not really
necessary, but has been added to
deliberately make the page look
overly busy… for visual effect and
nothing else really.
EPC measurement & verification
Request for Proposal
Detailed Facility Study
Install solutions M&V
Initial M&V outline
(for pricing)
Methodology agreed (option, sample, timing & duration)
Baseline agreed
Some measurements taken (e.g. option A ‘before’)
Comprehensive MVP developed
Some pre-install
measurements
Post-install measurements
Reporting
Making good
Financial reimbursement
EPCDFSA
IPMVP Options:
A: Partly measured retrofit isolationB: Fully measured retrofit isolationC: Whole of siteD: Simulated Calibration
Ongoing M&V reporting:
• Annual M&V reports
• One off M&V reports (e.g. option A solutions)
• Annual commissioning requirements
Hypothetical Local Government EPC
Project scopeCivic centres
Aquatic centresLibrariesDepots
Other facilities
Annual utility expenditure = $800,000
37% savings= $288,000
$2 million
$153,600
$604,000
Capital investment (year 1 debt impact) =
Annual operating statement impact =
Avoided capital (asset replacement) =
Accounting treatment of energy efficiency investmentsFor projects funded with cash OR debt where the payback period is less than the investment life.
BALANCE SHEET– Increased liabilities or less cash– Improved asset value of buildings
OPERATING STATEMENT– Depreciation expense (~1/15th of investment)– Annual cost savings (~1/7th of investment)– Savings more than double the expense
NET DEBT (liabilities – cash)– Increased liabilities or less cash– Increased net debt by value of investment in year 1– Impact reduces to zero over term of the payback period– Positive impact thereafter
zero, then +ve
+ve
- ve for payback term, then
+ve
Further informationwww.procurement.vic.gov.au, Select ‘EPC’ under ‘State Purchase Contracts’