Energy in Action! — M&V

The Hong Kong Energy Savings Plan policy sets a pathway for driving energy saving through a combination of educational, social, economic and regulatory means, especially for buildings and inhabitants to become highly energy efficient by 2025 (reducing energy intensity 40% from 2005 base levels).  To achieve this goal, the government has introduced several measures, including the promotion of energy efficient buildings through retrofits as well as new construction standards.  The plan also promotes the use of renewable energy sources. For example, the government has introduced financial incentives for businesses that invest in energy efficient technologies such as LED lighting, building automation, efficient HVAC systems and solar panels to name a few. Measurement and Verification and the validation of energy efficiency savings will play an important role in helping Hong Kong meet its energy reduction goals.

The Philippines is a country that has experienced significant economic growth in recent years. Its gross domestic product (GDP) has grown at an average annual rate of around 6 percent since 2010, making it one of the fastest growing economies in Southeast Asia. The Philippines has also made strides in renewable energy. The government has set a goal of increasing the share of renewable energy in the country's total energy mix to 30 percent by 2030. To achieve this goal, the government has implemented a number of initiatives, including the creation of a feed-in tariff program that encourages the development of renewable energy projects.

In an EPC, each contracting parties has access to different knowledge. Indeed, ESCOs naturally know more about equipment performance than the owner or the financier and are in an excellent position to take the retrofit performance risks. On the other hand, building managers has knowledge and control over operational issues such as usage, hours of operation, occupancy, etc. Thus, facility's owner are naturally well-positioned to take responsibility for the operational risks associated with an EE project. Finally, when a third-party financier provides project funding, it has specific information regarding financial investment risks and tolerance factors.