Sustainable Real Estate Solutions, Inc. (SRS) is the industry leader in on-demand building energy performance assessment, underwriting and proprietary benchmarking software solutions. The company’s cloud-based software-as-a-service platform supports leading commercial and industrial (C&I) energy efficiency (EE) and renewable energy (RE) financing programs nationwide, including Connecticut’s C-PACE program, Energize New York™ and the Los Angeles Better Buildings Challenge.
The SRS platform enables a highly streamlined, technically sound and transparent project scenario development and underwriting process. This methodology, consistent with the Environmental Defense Fund’s Investor Confidence Project (ICP) Protocols, has earned the confidence of program administrators, building owners, contractors, capital providers and insurers that projects technically and financially underwritten according to this methodology will achieve their projected energy and dollar savings forecast.
The Connecticut Green Bank C-PACE Breakthrough:
Starting in early 2013, SRS and the Connecticut Green Bank (CGB) set out to address head-on all the ‘gating’ issues that prevented previously launched EE and RE financing programs in the C&I segment from achieving sustainable success. SRS, working in partnership with CGB to launch the nation’s first statewide Commercial Property Assessed Clean Energy (C-PACE) program, developed and delivered an end-to-end suite of solutions and services to meet the multiple interdependent stakeholder (program administrators, building owners, contractors, capital providers, insurers) investment underwriting needs.
Today these solutions are considered state-of-the-art in the EE and RE project finance industry, having supported the project origination, scenario development, underwriting and financing of more EE and RE projects than all other similar programs. Moreover, this model was market-validated in just eighteen months when CGB, supported by SRS, announced its “industry-first” $30 million C&I EE and RE multi-project portfolio securitization.
ICP Protocols & the CGB Portfolio:
During the development phase of the ICP Protocols SRS served as an influential ICP ally, by embedding the Protocols in the SRS platform. As a result the ICP Protocols were used to support the technical and financial underwriting requirements for CGB’s industry-first securitization of C&I EE and RE projects. The use of the SRS platform enabled a highly streamlined and transparent project scenario development and investment underwriting process consistent with both the CGB’s C-PACE program guidelines and the then newly-released ICP Protocols.
As a result CGB’s ground-breaking portfolio securitization served as a proving ground for the Investor Confidence Project and earned the confidence of the key stakeholders in the industry’s first deployment of the Protocols.
Stakeholder Benefits of the SRS Platform with ICP Protocols Embedded:
Program Administrators: turnkey management of an inherently data-intensive, complicated process by standardizing the project technical and financial underwriting methodology, and providing the multiple stakeholders a high-degree of confidence in their investment decisions.
Building Owners: transparent and streamlined project scenario analysis process facilitating confidence in the projected energy savings and investment returns.
Contractors: streamlined methodology enabling contractors to evolve their proposal and project development process from “old way” (owner self-funded, short-term payback focused) to “new way” (3rd party financed, cash flow focused) where well-designed projects typically:
o Require no building owner out-of-pocket expense o Generate immediate positive cash flow.
Capital Providers: accelerated project due diligence process, including “translation” of project technical data to the key financial metrics enabling financial underwriting and investment confidence.
Additional Information about SRS:
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SRS Contact Information: We welcome the opportunity to support your EE and RE project success. For more information contact us at:
ICP does not endorse specific software companies or their tools. The Software Provider Credential designates that provider's application supports ICP's protocols and system as specified by the ICP Software Provider Credential Guidelines.