You can use the savings and verifications features to make it easier to report savings. These modules are being built on IPMVP (International Performance Measurement and Verification Protocol), an international standard for qualifying energy savings. If you're curious about what IPMVP is and what this update means for you, you can read more about it below.
On the platform, you will encounter the IPMVP framework when registering an activity and when reviewing the savings verified in connection with it. This function allows us to verify savings almost from day one. Savings are verified on the selected energy source and not across multiple sources. You can read more about how to register savings here.
Curious about how you can verify savings across buildings without registering a specific action? You can read more about this, the opportunities it provides, and how to do it here.
Verified Savings with High Reliability
Savings and Verifications support an internationally recognized method for verifying energy savings. Additionally, IPMVP enhances the reliability and accuracy of the verification process. The methodology aims to reduce transaction and financing costs by providing a standardized Measurement & Verification (M&V) plan. This means stronger and more reliable savings and verifications.
You get verified savings for the reporting period of up to one year.
Key benefits of using IPMVP:
- An international standard for measuring and verifying energy savings, making it easier to compare results across different projects and evaluate the impact of energy-saving initiatives.
- Accurate and real-time measurement of energy savings. The verification is available from day one.
- A shift from estimated to verified savings. We verify actual savings caused by the action while continuing to estimate annual savings until a verification period is reached or if the verification period is shorter than a year.
- Aggregated savings across buildings. You can verify savings across multiple buildings in a selected period.
- Savings verified per individual energy source.
- High credibility: The use of IPMVP enhances the credibility and reliability of reported energy savings.
- Transparency: IPMVP’s transparent approach ensures that all relevant data, assumptions, and calculations are clearly documented. This allows for review and validation by others, increasing trust in the reported savings.
- Regulatory compliance: In many cases, authorities and organizations require standardized measurement and verification protocols to qualify savings or comply with energy-saving regulations. IPMVP helps meet these requirements and provides recognition for energy-saving efforts.
- Risk management: IPMVP can help mitigate risks associated with energy-saving projects. With accurate measurement and verification, organizations can assess the actual performance of implemented optimizations, reducing uncertainty and potential financial risks.
Thus, IPMVP Savings and Verifications is a valuable tool that provides a systematic and reliable approach to assess the impact of energy optimization and renewable energy projects. The benefits contribute to better decision-making and the promotion of sustainable practices in different industries and sectors.