Certification Timing The ICP-IREE certification can be completed at any point up to the final underwriting and signing of a binding contract for the project’s execution. The specific timing of certification is determined by the investor (building owner, third-party investor, efficiency program, etc.). In many cases, provisional approvals and requiring full certification at the end of the process may align more closely with the project developers' process, especially regarding final bid amounts and design.
Pre-certification Approval entails an investor reviewing and approving a project that is still under development based on preliminary energy conservation measures (ECMs), estimated energy savings, and projected returns on investment (ROI).
Precertification Approval is a commitment by the investor to proceed with the investment if IREE certification is achieved before final signing. It validates the initial estimates included with a precertification approval request.
Pre-Certification Approvalenables Project Developers to advance projects toward final ECM selection, accurate energy savings forecasts, and confirmed customer costs with more confidence in the final investment decision.
An investor must publish the approval criteria alongside the certification timing guidelines if they allow Precertification approval.
Certification Timing Guidelines: The timing of certification is ultimately decided by the project investor’s requirements, allowing for flexibility in when the certification must be obtained. The buyer shall establish written guidelines for timing on final certification and any interim approval steps provided.
