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2019 Annual Report

Clean and Affordable Energy for Oregon

Improving Communities

Improving Communities

From Oregon’s rural counties to its capital city, local governments, residents and employers are better managing resources, supporting jobs and reducing energy bills.

Improving Industry

Improving Industry

Oregon’s factories are modernizing operations and finding efficiencies that save time, labor and money.

Improving Business

Improving Business

Businesses and nonprofits around the state are investing in upgrades that improve customer satisfaction, employee safety and bottom-line success.

Improving Homes

Improving Homes

From manufactured homes to affordable housing, people are finding and fixing inefficiencies that improve comfort and put money back into their pockets.

Success Stories

We help communities, business, factories, farms and families save on energy bills and invest in renewable power.

Salem wastewater treatment plant generates energy Salem wastewater treatment plant generates energy

Salem wastewater treatment plant generates energy

Community

Nonprofit leads county to invest in renewable energy Nonprofit leads county to invest in renewable energy

Nonprofit leads county to invest in renewable energy

Community

Nonprofit builds energy-efficient shelter Nonprofit builds energy-efficient shelter

Nonprofit builds energy-efficient shelter

Community

Food industry prioritizes sustainability Food industry prioritizes sustainability

Food industry prioritizes sustainability

Industry

Family farm upgrades irrigation Family farm upgrades irrigation

Family farm upgrades irrigation

Industry

Trade ally supplies energy-efficient equipment to local restaurants Trade ally supplies energy-efficient equipment to local restaurants

Trade ally supplies energy-efficient equipment to local restaurants

Business

Program helps family afford new heat pump for manufactured home Program helps family afford new heat pump for manufactured home

Program helps family afford new heat pump for manufactured home

Home

Trade ally seals 3,000 homes in Southern Oregon Trade ally seals 3,000 homes in Southern Oregon

Trade ally seals 3,000 homes in Southern Oregon

Home

Our Impact

Clean energy benefits have a ripple effect in communities across the state.

Improved economy

Improved economy

Adding $8.3 billion to Oregon’s economy.

Good jobs

Good jobs

Supporting 1,900 local businesses with 12,000 employees via our Trade Ally Network.

Cleaner air

Cleaner air

Avoiding enough CO2 to remove 7 million cars from the road last year.

Goals & Results

We delivered strong natural gas savings and achieved electric savings and renewable generation goals.

  • 53.3 aMW

    100% of 53.2 aMW goal
    Portland General Electric
    32.8 aMW
    98% of 33.5 aMW goal
    Pacific Power
    20.5 aMW
    104% of 19.7 aMW goal
  • 5.9 MMTh

    98% of 6.0 MMTh Goal
    NW Natural
    5.0 MMTh
    97% of 5.2 MMTh Goal
    Cascade Natural Gas
    0.51 MMTh
    98% of 0.51 MMTh Goal
    Avista
    0.36 MMTh
    107% of 0.36 MMTh Goal
  • 2.7 aMW

    121% of 2.3 aMW goal
    Portland General Electric
    1.5 aMW
    119% of 1.2 aMW goal
    Pacific Power
    1.3 aMW
    122% of 1.0 aMW goal
  • Since 2002

    Oregon benefits from $2 billion invested by Energy Trust

  • $8.2
    Billion
  • $8.3
    Billion
  • 32.7
    Million Tons

Transparency & Accountability

We are governed by a volunteer board of directors and is overseen by the Oregon Public Utility Commission. Three stakeholder advisory councils guide our work.

Accountable and Transparent
  • Every dollar received and invested is accounted for in monthly, quarterly and annual financial statements.
  • Financial statements are audited annually by an independent auditor. Energy Trust has a perfect track record of unmodified financial audits.
  • Each kilowatt hour and therm acquired is reported in quarterly and annual reports.
  • All major programs are evaluated by a third party.
  • We contract for an independent management audit every five years.
Revenues And Expenditures
  • Revenues totaled $183.5 million.
  • Expenditures totaled $183.7 million.
  • Delivered $99.9 million in incentives, with most of the remainder for delivery of customer services.
  • Maintained low administrative and program support costs at 6.2% ($11.4 million) of revenue.

Measuring 2019 Performance

We exceeded performance measures set by the Oregon Public Utility Commission.

  • Achieved 96% customer satisfaction
  • Kept administrative and program support costs to 6.24% of annual revenues
Category2019 Performance Measures2019 ResultsStatus
PGE efficiencySave at least 28.5 aMWExceeded, with 32.8 aMW saved
Levelized cost not to exceed 3.5 cents/kWhWithin requirement, levelized cost at 3.0 cents/kWh
Pacific Power efficiencySave at least 16.8 aMWExceeded, with 20.5 aMW saved
Levelized cost not to exceed 3.7 cents/kWhWithin requirement, levelized cost at 2.9 cents/kWh
NW Natural efficiency Save at least 4.4 million annual thermsExceeded, with 5 million annual therms saved
Levelized cost not to exceed 44 cents/thermWithin requirement, levelized cost at 39.13 cents/therm
Cascade Natural Gas efficiencySave at least 0.43 million annual thermsExceeded, with 0.5 million annual therms saved
Levelized cost not to exceed 48 cents/thermWithin requirement, levelized cost at 41.34 cents/therm
Avista efficiencySave at least 0.30 million annual thermsExceeded, with 0.38 million annual therms saved
Levelized cost not to exceed 43 cents/thermWithin requirement, levelized cost at 34.3 cents/therm
Renewable energyFor project and development assistance (part 1), deploy at least $1.63 million in non-solar project development assistance incentives. Maintain a non-solar project development assistance pipeline in excess of 25 projects. Report number of projects served, total dollars spent, and summarize project progress through development stages.In compliance, paid $1,969,938 and committed $1,658,109 in project development assistance to 28 projects
For project and market development assistance (part 2), report annual results, including number of projects supported, milestones met and documentation of results from market and technology perspectiveIn compliance
Obtain at least 1.7 aMW of installed generation of standard net-metered Solar program projectsExceeded, with 2.3 aMW of installed generation from standard solar projects
For solar projects funded outside of the Solar program’s standard, net-metered incentive offer, report sources of funding for projects and the criteria for selectionIn compliance, program did not dedicate funds for custom solar projects in 2019
Financial integrityReceive an unmodified financial opinion from an independent auditor on annual financial statementsIn compliance, with an unmodified financial audit opinion for 2019
Administrative/program support costsKeep administrative/program support costs below 8% of annual revenues (no more than $14,675,399)Within requirement, with 2019 administrative and program support costs of 6.24% of annual revenues ($11,420,383)
Administrative/program support cost growth limited to 10% year-over-year increase (no more than $1,309,717)In compliance, with administrative/program support cost growth of 5.66% year-over-year ($574,492)
Staffing expendituresTotal staffing expenditures not to exceed 7.25% of total organization expenditures calculated on a three-year rolling average for public purpose funded activities in OregonIn compliance, with a three-year rolling average staffing cost of 7.16% of total organization expenditures for 2016-2019 calculated on a three-year rolling average for public purpose funded activities in Oregon
Staffing cost growth limited to 10% year-over-year increaseIn compliance, with staffing cost growth of 4.35% year-over-year
Customer satisfactionDemonstrate greater than 85% satisfaction rates for interaction with program representatives and overall satisfactionAchieved, with a 98% satisfaction rate for interaction with program representatives and a 96% overall satisfaction rate
Benefit/cost ratiosReport utility system and total resource perspective annually; Report significant mid-year changes as warranted in quarterly reportsAchieved, with no mid-year changes
Northwest Energy Efficiency Alliance and market transformationReport annually:
• Savings and costs
• Savings strategies
• Show Energy Trust direction to NEEA through committee membership
• Summary of Energy Trust direction to NEEA
• Summary of NEEA initiatives Energy Trust opts out of and why
In compliance