Glossary

IEC -Integrated Energy Contracting

Integrated Energy Contracting Is a contracting model that combines the objectives of reduction of energy demand through the implementation of energy efficiency measures and efficient supply of the remaining useful energy demand. The business model of Integrated Energy Contracting is based upon the standard Energy Supply Contracting (ESC) model and is supplemented by quality assurance instruments for the energy efficiency measures as a substitute for the energy saving guarantee. In this context IEC is a combination of elements of ESC and EPC.

Innovation

Innovation is about creation of new products, new processes, new technologies, new organisation systems… Thus, innovation can be technological and non-technological with the objective to improve the functioning of institutions, the efficiency of strategies implemented or the competitiveness of economic operators.

 

IPMVP

The International Performance Measurement and Verification Protocol (IPMVP®) defines standard terms and suggests best practise for quantifying the results of energy efficiency investments and increase investment in energy and water efficiency, demand management and renewable energy projects.

IRR - Internal rate of return

Internal rate of return (IRR) – assesses the returns from projects that may require further investments in subsequent years. This can be useful where a piece of energy efficiency equipment requires periodic or ongoing maintenance.