Green Revolving Investment Tracking System
The Green Revolving Investment Tracking System (GRITS) is designed to manage every aspect of an institution’s green revolving fund (GRF) including aggregate and project-specific financial, energy, and carbon data.
This secure, account-based web tool lets institution administrators selectively grant access to campus stakeholders involved in GRF management, including student leaders and interns, sustainability staff, and facilities personnel. GRITS is useful for many purposes, ranging from identifying which efficiency projects to fund all the way through reporting energy project savings.
Project Identification and Selection
The GRITS project library allows all institutions in The Challenge to view the completed GRF projects from other Challenge participants, inspiring staff and administrators to consider similar projects at their institutions. When deciding which projects to finance, knowing how it will fit into the fund’s future performance portfolio and institutional goals is important. Each project entered in GRITS has its own dedicated page, allowing easy viewing of predicted financial indicators, such as payback period and return on investment, and environmental benefits such as energy use reduction and abated carbon emissions.
Tracking and Managing
With projects that are actively paying back the GRF, GRITS tracks the year-by-year resource savings, indicating how much money to repay the GRF loan each payment period. If energy prices and savings change, editing these numbers in GRITS will track realized financial gains and resource-use reduction over time. Since each GRF is constructed based on varying institutional priorities with specific criteria, GRITS is customizable so you can indicate the amount and the frequency that the savings will repay the fund.
There are many creative ways to measure and show fund performance; with GRITS, administrators can transform the institution’s data into informative visuals. This reporting aspect will be available in GRITS 1.0 (late 2013), allowing stakeholders the ability to generate customized reports and graphs that present aggregate and project-specific financial and/or efficiency performance data.
To better explain GRITS and provide a visual example, SEI has produced two video guides of the web tool – a short, 60-second version, and a longer, more in-depth 5-minute version. These two videos illustrate how GRITS can streamline the measurement and tracking of GRF data. The videos can be used as a resource when talking to finance and operations officers at an interested institution.
To learn more about GRITS, schedule a virtual tour. Contact Jaime Silverstein, Senior Research Fellow, at firstname.lastname@example.org