What is measurement and verification?
Measurement and Verification (M&V) is the practice of installing and maintaining energy meters, gathering data, developing methods for computation and estimates, using data for computations, and reporting verified results.
M&V protocols establish best practice techniques for verifying results of energy efficiency and renewable energy projects.They are also useful for assessing improved facility performance. These assessments can be provided to the customer so facility managers can evaluate the performance of their energy conservation measures (ECMs). Below we have explored five reasons why they are so important within the renewables industry.
1. Increases energy savings
Metering and verification have the ability to provide valuable feedback on the operational performance of a facility. This allows owners and managers to adjust facility management accordingly to deliver higher and more persistent energy savings over time.
2. Reduces cost of financing projects
By adopting more generally accepted M&V methods, a more credible assessment of savings and measurement of performance can be provided. In turn, this gives lending institutions the confidence for financing, which can help push through projects.
3. Improves engineering design and facility operations and maintenance
Good measurement and verification practices help managers discover and reduce operational and maintenance based problems. Facilities run more efficiently when such issues are identified, so it’s in the interest of companies to employ M&V.
4. Enhances value of emission-reduction credits
The use of emission-reduction credits provides additional value by enhancing the efficiency of projects. By documenting emissions reductions from reduced energy consumption projects, energy efficiency investments can be better recognized as an emission management strategy.
5. Increases public understanding of energy management as a public policy tool
Measurement and Verification help to gain public acceptance of a project by improving the credibility of energy management projects. With enhanced savings, good M&V practices will demonstrate the public benefits provided by good energy management.
At EnergyLink, we are experts in Measurement and verification. We use pioneering software to establish how companies can increase their energy savings and provide bespoke tracking reports for our customers.