The Retail Industry Leaders Association has been awarded a three-year, $750,000 grant from the U.S. Department of Energy to support its Retail Energy Management Program. RILA, a major retail industry trade association, was one of eight recipients of the DOE’s $6 million investment to increase energy efficiency in buildings across the country.
RILA’s energy management project with DOE aims to drive energy and carbon reduction in the retail sector by improving energy managers’ ability to secure financing for efficiency projects, a key step toward realizing the $3 billion in potential energy savings estimated to be available to the industry.
“Ensuring that retail energy managers have the resources they need to implement energy projects is a crucial step in the journey toward operational efficiency and bringing value to the business,” said Erin Hiatt, senior manager of sustainability and compliance at RILA. “Ultimately, the work under the grant will increase retailer energy savings through the adoption of improved energy financial management strategies.”
RILA’s project will generate at least six financial management implementation models to illustrate how retailers can establish dedicated energy efficiency budgets, improve project proposal processes, improve finance team awareness of energy project value, improve project piloting processes, establish energy innovation funds and leverage external financing where necessary.
The project proposal was developed in partnership with The Institute for Market Transformation, Deloitte, the Environmental Defense Fund, the Massachusetts Institute of Technology and Schneider Electric.