The Building Button, a new tool launched by the Investor Confidence Project (ICP), standardizes the collection of data from energy efficiency projects, and “makes it easy to share that information with investors, building owners, developers, and utilities,” according to a news release.
Based on the U.S. Department of Energy’s Building Energy Data Exchange Specification, the tool integrates best practices and specifications developed by ICP and the U.S. Department of Energy’s Lawrence Berkeley National Laboratory (Berkeley Lab), including the Building Energy Data Exchange Specification (BEDES). Expressing energy efficiency data in a common language, the Building Button allows all parties to compare specifications across multiple projects with one click. This ability helps to reduce underwriting and actuarial analysis costs, builds trust in energy savings, and drives market demand for energy efficiency projects.
“One of the major barriers to wide-scale adoption of energy efficiency is the hassle factor,” said Matt Golden, ICP director. “Every investment is unique, with data lodged in incompatible spreadsheets, documents, and other digital files. The lack of uniform data standards means that transaction costs are prohibitively high. The Building Button helps solve that by establishing guidelines for all project data, streamlining the process of project development and investment.”
In 2017, ICP will join Green Building Certification Inc. (GBCI) to create the first global underwriting standard for energy efficiency projects.