Le nuove norme allo studio sugli EPC a livello...
Transcript of Le nuove norme allo studio sugli EPC a livello...
Le nuove norme allo studio sugli EPC a livello europeo
Ettore Piantoni Comat S.p.A.Coordinatore CT 212 “Uso razionale e gestione energia” del CTI
Convenor CEN CENELEC JWG 3 “Energy Management and related services”
Antonio Panvini – CTI
FIRE Bologna 11 ottobre 2017
Obiettivi della presentazione
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II
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I progetti di efficienza energetica e gli EPC
Le necessita degli stakeholder• strumenti normativi• strumenti di mercato
I prossimi passi dell’attività normativa
Quanto è grande il mercato?
(1) Fonte: G20 Energy Efficiency Investment toolkit June 2017
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USD 221 bn USD 24 bn
ESCO self financed
Gli standard come criteri di finanziabilità deiprogetti – la gestione del rischio
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Progetti di efficienza energetica
Il valore viene generato nella fase di diagnosi e viene realizzatoattraverso il piano di misura e verifica che normalizza ed attesta nel tempo le reali prestazioni ottenute:• miglioramento dell’efficienza energetica (EnPI)• cash flow dell’iniziativa (€)
Il valore generato può anche includere altri benefici non energetici che possono migliorare al cash flow dell’iniziativa
Vengono eseguiti investimenti (Capex) per la riduzione dei costi operativi (Opex). In alcune situazioni il valore dell’asset può aumentare
Gli Energy Performance Contract (EPC) o contratti a prestazione energetica garantita sono una forma contrattuale che garantisce il miglioramento dell’efficienza energetica del progetto
Gli investitori richiedono certezze sul cash flow generato ed una valutazione del rischio
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Standards toolkit for Sustainable Energy Efficiency Projects
AuditBaseline
EE Improvement evaluation Borrower
ConstructionCommissionin
g
Measurement &Verification
Value creat ion Value chain enabling Value capturing
EN 16247 Energy Audit.1 General
requirements2 Buildings 3 Processes4 Transport5 Competence of
energy auditors
EN 16231 Energy efficiency benchmarking
UNI 11588 Property professional valuers
EPBD 2010/31/EU Energy Performance Certificates
ISO 50006 EMSMeasuring energy performance using energy baselines and energy performance indicators. General principles and guidance
Energy Labelling Directive 2010/30/EU
ISO 17743 General quantification methods for
ex ante or expected energy savings
TEGoVAEuropean Valuation Std
NEB: Computational method, Comparative Valuation, Willingness to pay, …
UNI CEI 11352 Energy Service Company. Minimum requirements
UNI CEI 11339 Energy Management Expert
EN 15900 Energy Efficiency Services. Definition and requirements
Lender EngineeringOperation &maintenance
Non Energy Benefits
UNI 11612Property Assets Valuation
Borrower credit worthiness
Saving to investment Ratio
Debt Coverage Ratio
Probability of Default
Loan to Value ratio
Debt to Income ratio
Financial institutionsown risk assessmentand evaluation criteria (performance and credit risks)
IS. 399 Energy Efficient Design Management
Good Engineering practices and tools: ASHRAE, EN, IEC, standards,National standards, technology provider guidelines
EXEED Designed certifies the asset has designed constructed, commissioned, operation and handover to the owner/operator
EXEED Verified Certification of an asset against measured and verified energy performance with quantified avoided energy consumption (3 yrs)
ISO 55001Asset management
ISO 15331Criteria for design management and control of maintenance services for buildings
ISO 17741General technical rules for measurement, calculation and verification of energy savings of projects
ISO 17743Energy Saving. Definition of methodological framework applicable to calculation and reporting on energy savings
ISO 50015 EMS. M&V of energy performance for organizations
EXEED Managed Certification of M&V protocol and energy performance and continual improvement (>3 yrs)
EVO IPMVP
Energy Performance Certificates
Energy Performance Contracting
Procurement contract
Maintenance contract
EN 15232 Energy Performance of building. Impact of BACs and TBMs
EN 115900 Energy efficiency Sservices
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Holistic approach sustainable EE projects I
Energy Audit
Fin
anci
ng
Work
flow
Construction
Com
mis
sionin
g
Guaranteed Performances
Due diligenceUnderwriting Procedure
Operation
Main
tenance
Measurement Monitoring
Veri
fica
tion
Report
ing
Value generation Value Capturing+
–
EPC
Agre
em
ent
CEN/CENELEC de-risking approachAudit
BaselineEE Improvement
evaluation BorrowerConstruction
CommissioningMeasurement &
Verification
Value creation Value chain enabling Value capturing
Lender EngineeringOperation &maintenance
Make Performance Risksacceptable
Make Credit Risksacceptable Make Performance Risks acceptable
Remove uncertainty for market development success
Revisione EN 16247
Energy related
investment valuation
Requisiticontratti EPC
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Energy efficiency Mortgages Action Plan (EeMAP)
Fonte:Sustainable Energy Investment Forum 26.9.2017 L. Bertalot EeMap
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Energy Efficiency Mortgages Action Plan (EeMAP)
Assessment of EE ofproperty by EE expert (atbank’s instruction) &provision of EE renovationrecommendations
Renovation of property by specialised SME/ insurance
of performance riskEx post valuation of property(at bank’s instruction) Post-renovation audit by EE
expert & delivery of proof of energy performance to bank
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EEFIG Underwriting Toolkit June 2017Recommendations
UNDERWRITINGUnderwriting is the formal process of determiningvalue and risk leading to a decision to lend orinvest. Underwriting will require the finalisation ofproject information, including more accurate costand savings estimates, as well as the procurementand contracting approach to be used (pag.41)
Financial institutions should require the use of internationally recognised standards
M&V reports should be linked to loan/investmentservicing as they can provide early warning onlower than expected performance which mayaffect viability of repayment.(pag 36)
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Source: https://deep.eefig.eu/viewcharts/buildings
Financeability Toolbox EEFIG - DEEP
50% dei progettihanno un tempo di ritornodell’investimentocompreso neilimitidell’intervallo
80% dei progettihanno tempo di ritorno nei limitidelle barre
Mediana
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G20 Energy Efficiency Investment Toolkit
Standardising investment processes, such asstandardised M&V, helps lower the transaction costand increases investor confidence, and is criticalfor scaling up energy efficiency investments. Inmany countries, there is presently no registeredplatform with verified information on energyefficiency projects by sector or asset typesavailable to financial institutions” (pag. 72)
Development of a common set of procedures and
standards for EE underwriting and investment processes
(pag 73).
The toolkit offers a clear and transparent framework for
negotiations between key actors (SMEs, providers, FIs) to
clearly define how project energy savings are
guaranteed. This framework reduces the risks involved in
EE projects, distributes the remaining risk to appropriate
actors, and fosters trust among them (pag 42).
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Requisiti di mercato degli EPC da soddisfare congiuntamente
Finanziabilità dei progetti di efficienza energetica � Garanzia di risultato� gestione dei rischi tecnici della iniziativa� gestione dei rischi economici� rischio credito utente finale e fornitore di
servizi� Technical Assistance (TA)/Project
Develoment Assistance (PDA)� ESI Energy Efficiency Insurance
Stakeholders
Requisiti cogenti� D.Lgvo 115/2008� Direttiva 2012/27/EU� Dlgvo 102/2014� D.Lgvo 50/2016 (Appalti)� Altri requisiti� Codice civile 1322- 23
Requisiti contabili� International Accounting Stnds (IAS/IFRS)� IFRS 9 Financing Instruments (Environmental, Social,
Governance)� Basilea III� Eurostat (Guidance note 19.9.2017)
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Standard per la finanza sostenibile
(1) Financing a sustainable European Economy. Interim report July 2017
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La finanza sostenibile chiede standard integrati
(1) Financing a sustainable European Economy. Interim report July 2017
AuditBaseline
EE Improvement evaluation Borrower
ConstructionCommissionin
g
Measurement &Verification
Value creat ion Value chain enabling Value capturing
EN 16247 Energy Audit.1 General
requirements2 Buildings 3 Processes4 Transport5 Competence of
energy auditors
EN 16231 Energy efficiency benchmarking
UNI 11588 Property professional valuers
EPBD 2010/31/EU Energy Performance Certificates
ISO 50006 EMSMeasuring energy performance using energy baselines and energy performance indicators. General principles and guidance
Energy Labelling Directive 2010/30/EUISO 17743 General quantification methods for
ex ante or expected energy savings
TEGoVAEuropean Valuation Std
NEB: Computational method, Comparative Valuation, Willingness to pay, …
Lender EngineeringOperation &maintenance
Non Energy Benefits
UNI 11612Property Assets Valuation
Borrower credit worthiness
Saving to investment Ratio
Debt Coverage Ratio
Probability of Default
Loan to Value ratio
Debt to Income ratio
Financial institutionsown risk assessmentand evaluation criteria (performance and credit risks)
IS. 399 Energy Efficient Design Management
Good Engineering practices and tools: ASHRAE, EN, IEC, standards,National standards, technology provider guidelines
EXEED Designed certifies the asset has designed constructed, commissioned, operation and handover to the owner/operator
EXEED Verified Certification of an asset against measured and verified energy performance with quantified avoided energy consumption (3 yrs)
ISO 55001Asset management
ISO 15331Criteria for design management and control of maintenance services for buildings
ISO 17741General technical rules for measurement, calculation and verification of energy savings of projects
ISO 17743Energy Saving. Definition of methodological framework applicable to calculation and reporting on energy savings
ISO 50015 EMS. M&V of energy performance for organizations
EXEED Managed Certification of M&V protocol and energy performance and continual improvement (>3 yrs)
EVO IPMVP
Energy Performance Certificates
Energy Performance Contracting
Procurement contract
Maintenance contract
EN 15232 Energy Performance of building. Impact of BACs and TBMs
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La gestione dei rischi nei contratti EPC
Garanzia di risultato (tep,€)
Minori consumi Utilities (€)
Costi operativi (€)
Investimenti (€)
Risparmi Utilities potenziali (tep)
Attese prezzo Utilities (€/kWh)
Fattore di rischio (%)
Rischio operativo (%)
Rischio normativoregolatorio(%)
Rischio tecnologico (%)
EnPI(Tep/ton) (Tep/GG)
Saving per ton prodotta (tep)
Capex (€)
Extra budget (€)
Opex (€)
Imprevisti (€)
Cash flow(€) Solvibilità (€)
Tipologie di Business e Contratti EPC
YELDCO
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Aggregatore di progetti EPC
ESA/MESAEnergy Service
Agreements
PPA Power Purchase
Agreement Chauffage
LaaSLight as a Service
MEETSMetered
Energy Eff. Transaction
MISE - ENEACONSIP
Servizio Energia Plus
BOOT Build Own Operate
Transfer
…
EPC2012/27/UE Allegato XIII
BOOT Build Own Operate
Transfe
Obiettivo delle attività normative
Prossimi incontri
• 13 ottobre• 17 novembre
• Linee guida per Contratti EPC che attraverso utilizzo dinorme tecniche definiscono i benefici e gestiscono i rischidei progetti secondo i criteri condivisi con gli deglistakeholders (Clienti, ESCo, Istituti Finanziari, IstitutiAssicurativi, Policy Makers, Enti regolatori, ..)
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• Economical valuation of energy related investments
• Revisione 16247
Take AwaysGli standard sono strumenti di business che
consentono la valorizzazione dei benefici e lariduzione dei rischi degli EPC
Energy Audit
Fin
ancin
g
Work
flow Construction
Com
mis
sionin
g
Guaranteed Performances
Due diligenceUnderwriting Procedure
Operation
Main
tenance
Measurement Monitoring
Veri
ficati
on
Report
ing
Value generation Value Capturing+
–
EPC
Agre
em
ent