Revolving Energy Fund

Understanding Energy Project Funding

Requirements

Projects must serve to either:

  • reduce greenhouse gas emissions or pollutants
  • reduce utility usage (energy, water, gas, chilled water),
  • reduce maintenance costs, improve operations or educate occupants,
  • implement innovative pilot project concepts, or
  • enhance the academic mission of UCF through a collaborative project with UES that addresses any of the above listed functions.
Projects must also:
  • possess a Payback Period of seven (7) years or less, unless exempt,
  • repay disbursed funds through actual energy savings recorded from metered data for Education and General (E&G) buildings, or under the terms defined in a Memorandum of Understanding (MOU) between the requester and UES,
  • repay all applicable utility rebates associated with any project funded by UES and the UCF REF, and
  • develop an Measurement & Verification plan for each project’s energy and associated cost savings tracking based on the project specific calibrations.

Project Proposal

Projects must complete the following proposal items:

  • Complete Proposal section of Energy Project Form
  • Utility Administration to validate data for project reporting
  • Written approval by Utility Administration
  • Written approval by department heads (FPC/FO/EHS), and building manager: i. Confirm that no projects already planned within estimated payback period, ii. Receive feedback on proposed changes for other known issues or suggestions, iii. Project Constraints: sensitive areas/conditions/scheduling.
  • Attach meeting minutes/correspondence related to decisions

Project Development

Projects must complete the following development items:

  • Create Work Order or Minor Project
  • Develop scope
  • Provide supporting documentation: i. Cost/Savings estimate, ii. Estimated Payback Terms iii. Initial T&B report, retro-commissioning (RCx) report and/or energy audit report, iv. Report existing conditions impacting payback and estimate cost to be offset
  • 1. IAQ issues to be corrected, 2. Poor lighting conditions/schedules, etc.
  • Complete Development section of Energy Project Form.
  • Approval by Utility Administration on the following: i. Savings method (determine whether Guaranteed or No Guaranteed Savings method to be used), ii. Determine baseline period, iii. M&V method. iv. Payback period or other pre-approved qualification
  • Customer Approval i. E&G – UES Director or Associate Director ii. Other – MOU Approved by and signed/dated by UES Director or Associate Director and customer Division Head/RFO

Project Execution

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