The report makes the case that measurement and verification (M&V) should be a critical aspect of any energy efficiency project or program in order to ensure value for money, justify continued or increased funding, as well as provide the basis of performance-based payment mechanisms. M&V is essential to assess resource savings and to ensure that savings persist over time. Energy efficiency practitioners use M&V for several reasons, such as, to improve engineering design and project costing, enhance energy savings through adjustments in facility operations and maintenance, document financial transactions, enhance financing for energy efficiency projects, and support development of broader energy efficiency programs.
World Bank. 2017. Assessing and Measuring the Performance of Energy Efficiency Projects. ESMAP Technical Report 011/17. Washington, D.C.: World Bank Group. http://documents.worldbank.org/curated/en/531691498680679016/Assessing-and-measuring-the-performance-of-energy-efficiency-projects