Measurement and verification

Measurement and verification (M&V) is the term given to the process for quantifying savings delivered by an Energy Conservation Measure (ECM), as well as the sub-sector of the energy industry involved with this practice.{{Cite web|last=Tanguay|first=Denis|title=What is M&V|url=https://evo-world.org/en/m-v/what-is-m-v|access-date=2020-10-20|website=Efficiency Valuation Organization (EVO)|language=en-gb}}

Measurement and verification demonstrates how much energy the ECM has avoided using, rather than the total cost saved. The latter can be affected by many factors, such as energy prices. The measurement and verification process enables the energy savings delivered by the ECM to be isolated and fairly evaluated.{{Citation needed|date=April 2021}}

Various protocols for good practice in measurement and verification exist, including the International Performance Measurement and Verification Protocol (IPMVP),{{cite web|last=|first=|date=|title=Efficiency Valuation Organization|url=http://www.evo-world.org|archive-url=|archive-date=|access-date=|website=evo-world.org}} which defines common terminology and the key steps in implementing a robust M&V process.{{Cite web|last=Department of Energy|first=USA|date=1996-05-13|title=Measurement and Verification {M& V) Guideline for Federal Energy Projects|url=https://www.nrel.gov/docs/legosti/fy96/20700.pdf|archive-url=|archive-date=|access-date=2020-10-20|website=nrel.gov}}

A key part of the M&V process is the development of an M&V plan, which defines how the savings analysis will be conducted before the ECM is implemented. This provides a degree of objectivity that is absent if the savings are simply evaluated after implementation.{{Citation needed|date=April 2021}}