The ESI model
and it's elements
The ESI model includes financial and non-financial elements designed to work together to reduce the risk for firms to invest in energy efficiency and create trust and credibility among key actors.
The model consists of
5 main components:
STANDARISED CONTRACT
A standardised, simplified contract sets a clear and transparent framework for negotiations between technology providers that offer their efficient solution, and their final clients. It defines the energy savings commitment of the technology provider and how these savings are measured, validated, guaranteed, and insured.
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VALIDATION
An independent technical validation process is put in place to overcome the perceived high- risk regarding the performance of energy efficiency projects. A credible validation entity evaluates the capacity of the project to deliver the promised energy savings, verifies the installation, and acts as an arbitrator if required.
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ENERGY SAVINGS
INSURANCE
With a risk coverage product (typically a surety bond), companies investing in energy efficiency are insured against their technology provider failing to fulfil the contractual obligations regarding energy savings. The insurance creates trust in energy efficiency and also reduces the credit risk of the loan.
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FINANCING
Existing financial instruments, such as green loans, or new financing products can be linked to energy efficiency projects using the GoSafe with ESI solution. This can result in competitive credit conditions, suitable tenors and support to access collateral, which can help smaller customers in particular, to access financing for energy-efficient technology solutions.
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ONLINE PLATFORM
To facilitate the exchange of information and documents between stakeholders, an online platform has been developed using blockchain technology. It is a web-based portal, accessible via a secure password, which records each step of the process, providing perfect transparency on every operation while guaranteeing users’ privacy and control over data.
Step-by-step guide
phase:
An energy-efficient technology provider offers a project, with the promised energy savings guaranteed. The GoSafe with ESI elements and each party's responsibilities are described in the simple, standardised contract.
activation:
A third-party validation entity evaluates the project’s energy savings. The insurance company covers the validated energy savings and the contract is activated.
phase:
The technology provider instals the new energy-efficient system and the validation entity verifies and validates that the installation is in accordance with the contract.
phase:
The operation of the new equipment results in reduced energy costs, improved performance, higher productivity, and sustainability. Maintenance services by the technology provider ensure that the equipment is operating optimally.
Monitoring:
The energy savings are measured and annually reported by the technology provider via a simple online system, where they are checked and can be approved by their clients. In the case that there are disagreements on the savings achieved, the validation entity steps in and acts as an arbiter.
Coverage:
If the savings are not achieved, and the technology provider cannot respond to their contractual commitment, the insurance steps in to cover the promised savings.
Are you an organisation or a company interested in investing in energy-efficient upgrades without the usual associated risks?
Get in touch!Are you a technology provider seeking to differentiate from the competition by offering a unique and sustainable solution?
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