Project to unlock energy efficiency investments14/08/17Energy
The International Energy Research Centre (IERC) has been selected to co-ordinate a €2m energy research contract into the development of new business models in energy efficiency and demand response programmes.
Hosted at the Tyndall National Institute, Ireland, the project, known as ‘NOVICE’, will develop and demonstrate a business model that aims to unlock energy efficiency investments and achieve significant energy savings throughout building renovation.
NOVICE introduces new actors (energy aggregators) in building energy upgrade projects, and fosters their collaboration with energy supply companies (ESCOs), financing institutions, facilities management companies and engineering consultants to facilitate the launch of a grid and energy efficiency services model.
Professor Tony Day, executive director of IERC, said: “This energy efficiency research award recognises the importance of industry driven, collaborative energy research and its contribution to our future sustainable energy systems. It acknowledges the IERC’s international pedigree in sustainable energy systems research, and its innovation will enable both Irish ESCOs and aggregators to seamlessly collaborate in exploiting economies of scale, while providing a platform for both to share risk in the implementation of building energy renovations.”
NOVICE will utilise energy performance contracting as it delivers a dual energy services scheme in building renovation.
Dr Matthew Kennedy from the IERC described how NOVICE, throughout its three year duration, aims to make more than €20.8m of investments available in building renovation based on the dual energy services model.
To achieve that target NOVICE brings together an experienced consortium that consists of stakeholders from the entire value chain (research institutions, technology vendors, engineering consultants and facilitators, aggregators, ESCOs, financing institutions, facilities management companies) of building renovation.