Framework for Building Energy Retrofit Project Development Using Risk Analysis

The retrofit of buildings to improve energy performance represents a vast opportunity in the construction market with potential to create jobs, reduce energy demand, and achieve resultant environmental benefits. Multiple challenges need to be overcome to unleash this potential and realize the benefits of investments in improving building energy performance. While large facilities often have easily predictable energy saving potential at scales that are attractive to the financial industry, they are often pursued in a manner that achieves only "low hanging fruit" for short term economic return. As a consequence, they often fall short of their potential to be pursued as an integrative and long term solution. Small and medium sized buildings face even more challenges due to the lack of owners' ability to manage and finance energy efficiency improvements. The goal of this research is to develop a framework that supports the continuous improvement of processes involved in energy retrofit project development for small/medium sized commercial buildings. Key elements of the framework are developed through case studies and process modeling and risk management techniques are utilized to inform decisions during the business development. Early research results examining the value of the framework in improving the business development process for energy retrofit projects are presented.