Product overview
EPIC Credits: energy performance behind the credit.
EPIC stands for Energy Performance Informed Carbon Credits. C3 is developing this solution around qualifying energy reductions at identifiable efficiency projects, with project-specific evidence to support informed purchasing decisions.
The acronym explained
Energy
EPIC starts with qualifying reductions in electrical- or thermal-energy use at an identifiable efficiency project. Energy savings are assessed using measured performance data and a documented baseline.
Performance
Performance means the reduction is assessed against a documented baseline using measurement and verification. The credit is tied to what actually happened, not what was projected.
Informed
Informed means buyers can review the project data, M&V records, methodology and available independent-review findings to understand what a specific credit represents.
Carbon
Carbon refers to the associated emissions-reduction estimate, calculated using documented emission factors, assumptions and methodology. Energy savings and emissions reductions are distinct quantities.
Energy savings and emissions estimates are not the same thing.
A reduction in kilowatt-hours or therms is a measured physical outcome. Converting that reduction to a carbon dioxide equivalent requires applying emission factors, making assumptions about the grid or fuel source, and stating a methodology. C3 keeps these two things separate. Buyers can evaluate the energy performance data independently of any emissions calculation.
Measured
Energy savings
EPIC Credits are being developed around qualifying reductions in electrical- and thermal-energy use at identifiable efficiency projects. Energy savings are assessed using measured data and a documented baseline.
Calculated
Emissions estimates
Associated emissions reductions are calculated from the assessed energy savings using documented grid or fuel emission factors, assumptions and methodology. Buyers can review the inputs and calculation for the specific project.
Buyers should review the emission factors, assumptions and methodology supporting any associated emissions-reduction estimate.
How buyers can evaluate an EPIC Credit opportunity
Each offering should be assessed on its own documentation. The following questions are a starting point for that evaluation.
What is the project?
Identify the facility, the efficiency measures installed, the project boundary and the performance period. A credit should be traceable to a specific, identifiable project.
What is the baseline?
Understand how pre-project energy consumption was established and documented. The baseline is the reference point against which performance is measured.
How was performance measured?
Review the measurement and verification approach. M&V should follow a recognised protocol and be documented in a way that allows independent assessment.
Who reviewed it independently?
Identify the independent reviewer, their scope of review and their conclusions. Independent review is not the same as project-developer self-certification.
How is the unit defined?
Understand what one unit represents — the energy quantity, the time period and any associated emissions calculation. Unit definition should be explicit, not implied.
What can the buyer report?
Assess the intended use and disclosure language against the documentation available. Purchasing or retiring a credit does not automatically establish eligibility under any reporting framework.
Discuss a specific EPIC Credit opportunity.
Discuss potential EPIC Credit opportunities with C3 and review the project documentation available to support your purchasing decision.