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NewTrend (New Integrated Methodology and Tools for Retrofit Design Towards a Next Generation of Energy Efficient and Sustainable Building and Districts) is a project that seeks to improve the Energy Efficiency (EE) of the existing european building stock and to improve the current renovation rate, by developing a new participatory integrated design methodology targeted to the energy retrofit of buildings and neighbourhoods.

As part of NewTrend project, LBS will produce Task 5.1:

Task 5.1: The Scope, Applicability and Constraints of Financing & Business Models
This report will provide a synthesis and summary of key insights, alternatives and recommendations as they relate to retrofitting. It will assess conventional (Grants, Loans, Guarantees) and alternative approaches (energetic renting, project finance, ESCO finance model).  Detailed descriptive profiles of the various financing arrangements are expected to help guide the decision makers, and  with a view to producing general purpose financial planning spreadsheets.

Approach

In order to complete Task 5.1, the following activities have been done:

  • Reviewing existing literature on Financial Models to fund energy efficiency projects broadly, and retrofitting projects in particular.
  • Reviewing successful examples of retrofitting projects around the globe, and documenting their particular financing strategies.
  • Drafting descriptive profiles of the various financing arrangements, identifying their relevant characteristics, advantages and drawbacks
  • Drafting short case studies, identifying the valuable lessons of each one.

Analysis

Overview

Introduction to Energy Retrofitting
Overview of Financing Options

Financing Models

Capital

Instrument Examples
Capital The Empire State Building deep energy retrofit

Bank Lending

Instrument Examples
Asset-based lending TBD
Capital and Operating Leases TBD
Project finance TBD

Specialized Lending

Instrument Examples
Multilateral Lending Barbados Public Sector Smart Energy (PSSE) Program
PACE financing TBD
Revolving Funds IDB's Capital Markets solution for EE financing in Mexico
Green Lending TBD
Green Banks TBD

ESCO and Utility Services

Instrument Examples
Energy Performance Contracts Retrofitting Mahindra Towers
Energy Services Agreement TBD
On-Bill EE Tariff TBD
On-Bill EE Loan TBD

Public Equity Instruments

Instrument Examples
Real Estate Investment Trusts Prologis
Master Limited Partnerships TBD
Yieldcos TBD

Other

Instrument Examples
Green Bonds TBD
Guarantee Mechanism IDB's Energy Efficiency Guarantee Mechanism
Retrofitting Grants TBD

Distributed Energy

Introduction to Distributed Energy
Peer-to-Peer Energy Transactions

Additional Information

City of Durham's Neighborhood Energy Retrofit Program
Tornoto's Buildings Partnership
Relevant Institutions Working in Retrofitting