298 Energy Project Financing: Resources and Strategies for Success
tion, operations and maintenance, renewable energy systems, and
water conservation projects.In addition to being a requirement for efficiency investments in
U.S. Federal buildings, the FEMP Guideline provides a model for how
to develop a specific application of the IPMVP. To secure a copy of the
FEMP guideline, call 800-DOE-EREC.
State Performance Contracting Programs
Many states in the US have incorporated the IPMVP as an impor-
tant part of a number of their energy efficiency programs and services
for commercial, industrial and institutional customers. They use IPMVP
as the basis of determining energy savings in energy performance con-
tracting. IPMVP has been valuable in standardizing project performance
metrics and has become an important component for facilitating wider
acceptance of energy performance contracts that can reduce private sec-
tor transaction costs. IPMVP has helped cut transactions costs, improve
project performance and has been important in securing low cost financ-
ing for our programs. Many states require that M&V Plans be developed
for projects funded under the Standard Performance Contract Program.
The New York State EnVest program, for example, is structured to be
consistent with IPMVP and New York State Energy Research & Devel-
opment Authority (NYSERDA) strongly recommends the use of IPMVP
for institutional projects.
Other states which have incorporated IPMVP in state energy per-
formance contracting and other energy efficiency programs are Califor-
nia, Colorado, Oregon, Texas, and Wisconsin.
Environmental Evaluation Initiatives in Buildings
The IPMVP is being integrated into the U.S. Green Building
Council’s (USGBC) Leadership in Energy and Environmental Design
(LEED”) Rating system, which is rapidly becoming the national green
building design standard.
The USGBC-developed LEED” program provides a comprehen-
sive green building rating system. In order to win a rating, a building
must comply with several measures, including the IPMVP, for energy
efficiency and water measures. Buildings are then rated on a range of
environmental and life cycle issues to determine if the building achieves
one of the LEED” performance levels. Applicants to LEED” will receive