Project Start Date: 2009
Element Markets represents a large industrial client in Connecticut that generates energy and steam onsite from a natural gas combined heat and power (CHP) system, which is used to drive the company’s production line. Efficient CHP systems are eligible to earn Class III Energy Efficiency Credits (EECs) within the Connecticut Renewable Portfolio Standard, and Element Markets helps its client realize and market these credits.
The first step was to ensure the CHP facility would generate Class III credits. Element Markets developed a Measurement and Verification (M&V) Plan for the facility, and worked with the Connecticut Public Utilities Regulatory Authority (PURA) to certify the facility as CT Class III compliant. As part of the program’s ongoing requirements, Element Markets provides PURA with quarterly reports verifying the efficiency of the CHP facility and calculating the number of EECs that should be credited.
Finally, we help the company sell its credits. The Connecticut Class III market is currently the largest market for EECs in the country, and we have the knowledge and contractual relationships to recommend and execute trades as well as the operational expertise to transfer the credits and collect the funds for our client. Since 2009 we have helped them realize over $800,000 in additional annual revenue by monetizing their EECs, while helping Connecticut reduce its peak power demand.