Measurement and Verification (M&V) is the process of verifying whether the intended energy savings from an energy saving project are actually achieved. This process gives confidence to the client and solution provider as to how much, if any, savings have been achieved. The International Performance Measurement and Verification Protocol (IPMVP) is a widely accepted authoritative framework for the fair and transparent evaluation of the effects of energy saving projects and should be followed when assessing the performance of energy efficiency projects. The fundamental principles of IPMVP can be summarised as follows:
1. Evaluations should be as accurate as possible,
2. Interactive effects should be taken into account,
3. The analysis should be conservative,
4. All significant and relevant factors are measured,
5. Data is recorded and analysed in an open manner.