Web-based Application for Screening Energy Efficiency Investments: A MCDA Approach

Energy Efficiency (EE) has been identified as one of the most cost-effective means aiming at reducing energy consumption while maintaining an equivalent level of economic activity. Mainstreaming EE financing is considered a key priority to avert climate change. The lack of evidence on the performance, commonly agreed procedures and standards for EE investments, particularly during the first stages of investment generation and pre-selection/pre-evaluation, are the key problems hampering EE investment financing. It is also true that often project developers do not have the expertise or resources to make a convincing financing case for investors. In order to boost EE investments, this paper proposes a Multi-Criteria Decision Analysis (MCDA) methodology intending to support financing institutions to identify attractive EE project ideas in the early development phase of project initiation and planning. The study implements the ELECTRE TRI method to benchmark EE project ideas in a standardized, investor recognizable credit rating form. A respective web-based tool facilitating the methodology and the screening of EE projects is also developed, supporting financing bodies and EE funds to rapidly detect and aggregate projects that meet the necessary criteria to be financed.