This blog is designed to highlight the diversity of views and news stories on urban energy topics that appear daily in the media. They are intended to provoke discussions on how cultural, geographic, political, and institutional influences shape the way energy markets operate and energy policies are made in cities around the world.
Monday, November 28, 2011
EnergyScoreCards Will Monitor Energy Savings for Bank of America's $55 Million Energy Efficiency Finance Program
NEW YORK, NY, Nov 28, 2011 (MARKETWIRE via COMTEX) -- EnergyScoreCards(TM), an online software-as-a-service benchmarking tool specifically geared toward multifamily and other multi-tenant properties, was competitively selected to provide data collection and analysis for Bank of America's Energy Efficiency Finance Program. This innovative program will fund energy retrofits of an estimated 15,000 residential units as well as commercial buildings, community facilities and charter schools.
EnergyScoreCards organizes energy and water usage data, supports financial planning for energy improvements, and tracks the progress and success of energy and water-saving efforts.
"EnergyScoreCards provides ongoing analysis of energy retrofit performance that is both accessible to investors, owners and occupants, and benchmarked for accurate comparison to other projects," said Jeff Perlman, president of EnergyScoreCards and Bright Power, Inc. "We look forward to working with Bank of America and the winning CDFIs on their innovative data-driven energy efficiency financing initiatives."
The Energy Efficiency Program will provide nine Community Development Financial Institutions (CDFIs) with $50 million in low-cost, long-term loans to finance upfront costs of retrofits, and $5 million in grants to cover operating costs of green programs. EnergyScoreCards will conduct rigorous energy data collection, monitoring, and reporting to help influence energy usage behaviors and measure program outcomes, including impacts on energy and water usage and associated financial savings. Results are expected to be published in 2015.
The CDFIs selected for the program were announced on November 15, 2011 and include Boston Community Capital (Boston), Community Investment Company (Chicago), Enterprise Cascadia (Seattle and Portland), Enterprise Community Partners (nationwide), Grow America Fund (New York), IFF (Chicago), Low Income Investment Fund (San Francisco and Los Angeles), Self Help (Charlotte), and The Reinvestment Fund (Baltimore and Philadelphia).
About EnergyScoreCards: EnergyScoreCards(TM) grew out of the extensive energy benchmarking, auditing and consulting experience of Bright Power, Inc., an energy consulting firm based in New York. Since 2004, Bright Power has been honing in-house energy analysis tools that provide its consultants with information about a property's energy performance in order to target inefficiencies and estimate realistic savings from efficiency measures. Bright Power founder and president Jeff Perlman saw that these tools could be built into a simple, centralized platform. With the additional functions of utility data aggregation, project management and portfolio analysis, EnergyScoreCards serves as a central destination for those managing energy on a portfolio scale.