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Green Bank Academy - Objective Function

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Information about Green Bank Academy - Objective Function
Business & Mgmt

Published on February 19, 2014

Author: reedhundt

Source: slideshare.net

Description

An objective function is a quantitative metric that captures the desired program outcome, which a Green Bank seeks to maximize. Every green bank must have a clearly defined objective function in order to define goals, track progress, design effective programs.
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The Objective Function Tracking Program Performance and Aligning Outcomes with Strategic Goals

Objective function measures program performance, aligns programs, goals Objective Function A quantitative metric that captures the desired program outcome, which a Green Bank seeks to maximize. • Purpose of objective function is to clarify what you are trying to accomplish • Must be a formula that enables you to focus on maximizing a particular outcome • Objective function aligns program with strategic goal 2

Objective function is maximize clean energy per dollar Clean Energy Produced or Energy Saved Dollars Spent, Held, Financed • Generate/save more energy, objective function goes up • Spend fewer public dollars, objective function goes up X kWh produced $1 at Risk or Y MMBtu’s or $Y saved $1 at Risk 3

CEFIA residential solar objective function increasing over time Total CEFIA solar incentive dollars and annual kwh per dollar 4

Quantitative tracking enables green bank management • Design programs aligned with green bank goals – Provides guideposts that help program managers ensure all elements are oriented toward a unifying goal • Measure program outcomes, effectiveness – Serves as a measurement tool to track program success over time and compare effectiveness between programs • Make informed decisions about dollar allocations – Shows how dollars should be used within a product structure or between products to maximize the desired goal 5

Compare programs across organizations • CEFIA can demonstrate that its program was far more efficient than the utility-run REC program 6

Objective function tracks progress and compares program effectiveness • Only by tracking program performance can a green bank know if it is meeting strategic goals • Objective function is easily-understood ratio that shows how much clean energy you get per dollar • Can be used to compare performance of programs and guide decisions for allocating dollars 7

Green Bank Academy Washington, DC February 6-7, 2014 www.greenbankacademy.com

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