IERC charged with €2m energy project

IERC
Pictured: Dr Matt Kennedy, Dr Beth Massey, and Prof Tony Day, IERC

Novice project to develop new business model for energy

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10 August 2017 | 0

The International Energy Research Centre (IERC), hosted in Tyndall National Institute, Cork, has been successfully selected by the European Commission’s Horizon 2020 initiative to coordinate a €2 million contract for research into the development of new business models in energy efficiency.

The project, Novice, will develop and demonstrate a business model that aims to unlock energy efficiency investments and achieve energy savings throughout building renovation.

Prof Tony Day, executive director, IERC, said: “This energy efficiency research award recognises the importance of industry driven, collaborative energy research and its contribution to our future sustainable energy systems. It acknowledges the IERC’s international pedigree in sustainable energy systems research, and its innovation will enable both Irish ESCOs and aggregators to seamlessly collaborate in exploiting economies of scale, while providing a platform for both to share risk in the implementation of building energy renovations.”

Throughout its three-year duration, Novice aims to unlock more than €20.8 million of investments in building renovation based on the dual energy services model. This could result in primary energy savings of more than 25.2GWh/year or the equivalent of electrical power for over 5,600 homes.

Dr Matthew Kennedy, IERC, said: “To achieve that target Novice brings together a highly experienced consortium that consists of stakeholders from the entire value chain (research institutions, technology vendors, engineering consultants and facilitators, aggregators, ESCOs, financing institutions, facilities management companies) of building renovation. Strong participation of industry players will demonstrate the commercial exploitation potential of Novice outputs and supports the successful rollout of the Novice business model.”

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