GUARANTEE
Provide a guarantee that reduces the energy efficiency investment risk for clients by insuring TP’s savings guarantee commitment
INSURANCE
The Energy Savings Insurance
The energy savings insurance of the ESI model is a policy to cover clients in the event that promised energy savings are not achieved, and that the TP cannot fulfil its commitments.
The goals of the energy savings insurance are to:
The energy savings insurance is a surety bond type of insurance, which is a contractual agreement among three parties: the TP, the insurance company and the client.
The energy savings insurance is linked to the ESI contract and is triggered if specific clauses of the contract are not met.
In case of the reported energy savings are not agreed by Client and TP, an arbitration process is initiated. The Validation Entity carries out the arbitration procedure, which includes evaluating the reported energy savings and assessing potential energy savings defaults to be compensated to the Client.
