M&V FAQ
- What is M&V?
- What is an ECM?
- What is an ESCO?
- How can M&V be used as a risk management strategy?
- How does M&V increase energy efficiency savings?
- Why is there a need for a standard M&V protocol?
- How does standard M&V protocol help attract investments for energy efficiency projects?
- What is the difference between IPMVP Volume I and ASHRAE Guideline 14P?
- What is the difference between IPMVP Volume I and FEMP M&V Guide?
1. What is M&V?
It stands for Measurement and Verification - sometimes also known as monitoring and verification. The two terms are important because it is implied that verification is impossible without measurement. M&V can be used in any context but is most widely used in energy efficiency/water conservation/emission reduction projects.
2. What is an ECM?
It stands for Energy Conservation Measure (as distinct from and EEM - Energy Efficiency Measure. Energy efficiency measures (EEM) use energy as efficiently as possible to achieve a specified result, such as a comfortable, productive work environment. ECMs and EEMs are not necessarily interchangeable). Implementing one or more ECMs, under normal circumstances, would result in energy savings.
3. What is an ESCO?
An ESCO stands for an Energy Service Company. It typically offers feasibility analysis, engineering, construction, and financing services that is required for implementing an externally financed energy efficiency project. An ESCO guarantees certain predicted results. An energy service provider (ESP), on the other hand, is any company similar in function, but that does not make any guarantees.
4. How can M&V be used as a risk management strategy?
Measurement and verification works as a risk management tool in performance-based energy efficiency projects. Financial payments are tied with the performance of the project (energy savings) and by developing a cost-effective M&V strategy, can reduce their respective risks. The energy service provider and prove with the help of M&V that the savings are real and the energy service receiver can hold the provider accountable if there is a shortfall in energy savings.
5. How does M&V increase energy efficiency savings?
Apart from its primary purpose of serving as a risk management and a risk reduction tool under different performance contracting mechanisms, continuous monitoring of the performance and energy use parameters helps in diagnosing and correcting problems that would have gone unnoticed in the absence of a M&V plan, thus saving energy.
6. Why is there a need for a standard M&V protocol?
To be able to use unbiased, technically rigorous, and cost-effective methods to measure and verify energy savings estimates that form the basis of the contract between service provider and service receiver.
7. How does standard M&V protocol help attract investments for energy efficiency projects?
Financial institutions don't like uncertainty and standard M&V protocols provide open, transparent, and replicable methods of calculating energy savings for any type of energy conservation measure. This helps in reducing uncertainties associated with using different M&V protocols for different projects and reduces the possibility of disagreements over the use of the M&V protocol used.
8. What is the difference between IPMVP Volume I and ASHRAE Guideline 14P?
The IPMVP and ASHRAE 14 are complementary documents that provide guidance and instruction to those interested in quantifying the results from energy savings projects.
IPMVP and ASHRAE differ by design in these key areas:
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IPMVP is a framework of definitions and broad approaches whereas ASHRAE Guideline 14 provides detail on implementing M&V plans with the framework.
9. What is the difference between IPMVP Volume I and FEMP M&V Guide?
The IPMVP and FEMP M&V Guide are complementary documents that provide guidance and instruction to those interested in quantifying the results from energy savings projects.
IPMVP and FEMP M&V Guide differ by design in these key areas: