The report makes the case that 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; no. 011/17. Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/531691498680679016/Assessing-and-measuring-the-performance-of-energy-efficiency-projects