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.
- 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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