Airports continually balance demands to improve infrastructure within the realities of available budgets. Green revolving funds (GRFs) offer an alternative approach for investing in projects that generate operational savings. These funds work by tracking verified cost reductions from implemented actions, and then transferring those savings to a reserve that provides capital for future qualified projects such as energy system upgrades.
A number of universities have managed GRFs for over a decade. Municipalities are starting to adopt them as well. ACRP Research Report 203: Revolving Funds for Sustainability Projects at Airports includes several non-airport-related case examples that have managed GRFs and two airport-related case examples. Airports require a modified GRF approach because of financial structures, Federal Aviation Administration (FAA) regulatory requirements, airline agreements, and the wide range of tenant roles.
This ACRP report provides guidance to determine whether this innovative funding approach is suitable for a particular airport and instructions on how to deploy it. Airports that have the ability and determination to launch a GRF will gain a robust method for advancing their sustainability goals.
Table of Contents
|Chapter 1 - GRF 101 High-Level Overview||4-6|
|Chapter 2 - Where Are GRFs Already Working?||7-8|
|Chapter 3 - Phase 1: Planning Initiating an Airport GRF||9-30|
|Chapter 4 - Phase 2: Implementation GRF Activation Steps||31-43|
|Chapter 5 - Phase 3: Operations GRF Project Implementation and Ongoing Management||44-49|
|Chapter 6 - Conclusions||50-50|
|References and Other Resources||51-53|
|Appendix A - Frequently Asked Questions for Funding Airport GRFs||54-65|
|Appendix B - Energy Conservation Measures||66-78|
|Appendix C - Case Examples||79-96|
|Appendix D - Measurement and Verification||97-116|
|Appendix E - Sample Charter||117-119|
|Appendix F - Glossary||120-126|
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