Explore The 2022 Annual Report
2022 Annual Report
Clean, affordable energy for all
Year in Review
Michael Colgrove, Executive Director
As we enter our third decade of service to Oregon and Southwest Washington, Energy Trust remains committed to the belief that clean, affordable energy can be transformational – for families, for businesses, for the economy and for our region. This report is full of stories that illustrate how our work helps strengthen communities so that they are ready for whatever the future brings.
Whether it’s helping fire-ravaged areas come back from devastation stronger or helping people stay safe in extreme heat, our work helps people live more sustainable and resilient lives. Much of our success would not be possible without collaboration from our trusted partners who bring new ideas and perspectives. That’s the case with an effort to support Black homeowners in Portland’s historic Albina neighborhood – which combines the expertise and resources of the nonprofit Community Energy Project, the City of Portland’s Clean Energy Community Benefits Fund and Energy Trust. That’s also the case with energy planning initiatives we’re supporting at the local level, including in Hillsboro and Deschutes County, where residents and leaders are envisioning a pathway to a clean energy future.
Thank you to all who helped us in 2022, including our customers, the Oregon Public Utility Commission, Portland General Electric, Pacific Power, NW Natural, Cascade Natural Gas, Avista, Northwest Energy Efficiency Alliance, Oregon Department of Energy, Oregon Housing and Community Services, trade ally contractors, cities, counties and community organizations.
Enriching Communities through Clean, Affordable Energy since 2002
Good Jobs
Supporting 1,600 local businesses with an estimated 15,400 employees via our Trade Ally Network
Cleaner Air
Keeping 39.4 million metric tons of carbon out of our atmosphere creates a cleaner, healthier Oregon
Resilient Communities
Pairing solar systems with storage makes communities more prepared for risks like wildfires, droughts and earthquakes
Dollar Savings
Saving people and businesses $10.6 billion on their utility bills over time frees up money to support their goals
Economic Investment
Adding $12 billion to Oregon’s economy creates opportunities for residents to thrive
Success Stories
Investing with customers and communities to help reach their goals
"The day after they installed the ductless heat pump, the temperature rose to 100 degrees outside, but it was very cool inside when I got home."
- Ignacio Rauda
Homeowner
Partnership
Read the story
"One of the silver linings is that many homeowners are choosing to build energy-efficient homes with solar power. It brings us hope."
- Jordan Rooklyn
City of Talent
Rebuilding
Read the story
"We worked hand-in-hand with Energy Trust to install the units, which are energy efficient, quality and affordable for our tenants—including several flood-impacted residents."
- Marcus L. Luke II
Confederated Tribes of Umatilla Indian Reservation
Innovation
Read the story
"We’re researching how other communities have approached energy planning and engaging the community to learn what’s important to residents."
- Grace Andrews
RARE AmeriCorps intern, Deschutes County
Community
Read the storyDiversity, Equity and Inclusion
In 2022, we developed a living plan focused on increasing community engagement to better serve communities of color, customers with low incomes and rural communities
Read highlights from our 2022 diversity, equity and inclusion efforts
2020-2024 Strategic Plan
We completed the third year of our 2020-2024 strategic plan, making progress in five focus areas and implementing strategies to deliver immediate and long-term clean energy benefits to customers and communities
| FOCUS AREA | PROGRESS INDICATORS | PROGRESS TO DATE | STATUS |
|---|---|---|---|
| We engage customers with relevant energy efficiency and renewable energy programs, information and services, including information and services specifically for underserved customers | We achieve our annual savings and generation goals and continue to use multi-year planning processes to identify ambitious longer-term energy targets that incorporate emerging sources of savings | Off track: fell short of 2022 energy savings goals while accomplishing other goals related to generating renewable energy, expanding community-led approaches, developing capabilities to expand funding and implementing new work strategies to adapt, support staff and manage operating costs; improved planning and budgeting processes to identify emerging sources of savings | Red Off track |
| We meet or exceed the goals we establish to increase the diversity of program participants | On track: designed new activities for customers we have historically underserved | Green On track |
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| We strengthen the value we deliver to customers by linking energy efficiency and renewable energy to the approaches utilities are using to meet changing customer energy needs | We develop a framework to value, deliver, report and evaluate energy efficiency and renewable energy resource opportunities in targeted locations in collaboration with utilities | On track: incorporating targeted load management (TLM) into utility distribution system plans | Green On track |
| We implement and evaluate initiatives designed to drive customer adoption of energy efficiency and renewable energy projects in targeted areas | On track: completed a TLM pilot with NW Natural that increased residential project installation rates | Green On track |
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| We provide objective information and analyses to policymakers and implementers to support development and implementation of energy policies | We establish a system for monitoring regulatory and policy initiatives. We contribute data analyses and technical expertise during policy development and participate in policy implementation when there is potential customer benefit related to energy efficiency and renewable energy | On track: supported OPUC outreach to develop equity performance measures; provided information to state lawmakers and local leaders exploring clean energy and building policies | Green On track |
| We maximize the effectiveness and reach of public purpose charge funding by leveraging additional funding to advance clean energy investments that deliver multiple benefits | We acquire more energy savings and renewable generation than would otherwise be achieved with only public purpose charge funding | On track: created an Innovation and Development team to pursue additional funding opportunities | Green On track |
| We coordinate with more organizations and communities where their additional resources help accomplish mutually supportive objectives | On track: funded capacity-building activities by community-based organization that promote clean energy and Energy Trust programs | Green On track |
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| We establish a concept agreement with the Oregon Public Utility Commission and at least one natural gas utility to assess a joint carbon reduction effort | On track, managing: designed new services for gas customers in 2023 in coordination with utilities; community-specific collaboration with one natural gas utility did not move into implementation phase | Yellow Managing |
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| We enhance our ability to quickly and effectively respond to changes, needs and new opportunities | We achieve diversity, equity and inclusion goals for employee hiring and recruitment, and for the board of directors | On track: increased the percentage of job applicants and new hires who identify as people of color; board recruitment prioritized racial and geographic diversity | Green On track |
| Annual surveys indicate that staff are significantly aware of how annual goal setting, business planning and prioritization enables flexible resourcing of existing and new initiatives | On track, managing: staff surveys show alignment around common goals, improved decision-making and willingness to explore innovative new ideas | Yellow Managing |
Transparency & Accountability
We are governed by a volunteer board of directors and overseen by the Oregon Public Utility Commission
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 opinions.
- 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.
2022 Revenues And Expenditures
- Revenues totaled $207.2 million.
- Expenditures totaled $182.3 million.
- Delivered $94.1 million in incentives, with most of the remaining expenditures for delivery of customer services.
- Maintained low administrative and program support costs at 7% ($14.1 million) of revenue received under the OPUC funding agreement.
| Category | 2022 OPUC Performance Measures | 2022 Results | Status |
|---|---|---|---|
| Electric efficiency | |||
| PGE | Save at least 24.7 aMW | Exceeded, with 30.4 aMW saved | Green Exceeded |
| Levelized cost not to exceed 4.0 cents/kWh | Exceeded, levelized cost at 2.8 cents/kWh | Green Within requirement |
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| Pacific Power | Save at least 18.3 aMW | Out of compliance, with 16.4 aMW saved | Red Out of compliance |
| Levelized cost not to exceed 3.9 cents/kWh | Within requirement, levelized cost at 3.9 cents/kWh | Green Within requirement |
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| Natural gas efficiency | |||
| NW Natural | Save at least 4.9 million annual therms | Exceeded, with 5.1 million annual therms saved | Green Exceeded |
| Levelized cost not to exceed 54 cents/therm | Within requirement, levelized cost at 48.9 cents/therm | Green Within requirement |
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| Cascade Natural Gas | Save at least 0.64 million annual therms | Out of compliance, with 0.51 million annual therms saved | Red Out of compliance |
| Levelized cost not to exceed 63 cents/therm | Within requirement, levelized cost at 56.0 cents/therm | Green Within requirement |
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| Avista | Save at least 0.56 million annual therms | Out of compliance, with 0.36 million annual therms saved | Red Out of compliance |
| Levelized cost not to exceed 59 cents/therm | Within requirement, levelized cost at 48.6 cents/therm | Green Within requirement |
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| Renewable energy | For project and development assistance (part 1), deploy at least $1.5 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 and total dollars spent and summarize project progress through development stages | Out of compliance, paid $1,032,690 in project development assistance to 30 projects. Energy Trust exceeded the requirement for number of projects in the pipeline but was short of the requirement for dollars deployed; this was due to inflation and related project cost increases, delayed projects by municipalities and delays in enrolling two districts in irrigation modernization | Red Out of compliance |
| 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 perspective | In compliance | Green In compliance |
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| Obtain at least 3.4 aMW of installed generation of standard net-metered Solar program projects | Exceeded, with 5.83 aMW of installed generation from standard solar projects | Green Exceeded |
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| 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 selection | In compliance, paid incentive funds for two small-scale community solar projects and dedicated incentive funds for a large-scale community solar project, both with low-income subscribers | Green In compliance |
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| Invest at least $3.8 million, 25% of public purpose revenue for renewables, to provide activities, resources and technologies for low and moderate income customers | In compliance, Energy Trust invested $5.1 million or 29% of revenues to benefit customers with low and moderate incomes | Green In compliance |
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| Financial integrity | Receive an unmodified financial opinion from an independent auditor on annual financial statements | In compliance, with an unmodified financial audit opinion for 2022 | Green In compliance |
| Administrative/program support costs | Keep administrative/program support costs below 8% of annual revenues (no more than $16,183,690) | In compliance, with 2022 administrative/program support costs of 7% of annual revenues ($14,083,874) | Green In compliance |
| Administrative/program support cost growth limited to 10% year-over-year increase (no more than $1,244,881) | Performance measure waived, with administrative/program support cost growth of 13% year-over-year ($1,635,062). The OPUC waived this performance measure in 2022 to allow for staffing increases to support new activities that achieve additional savings and to rebalance workloads to ensure retention of existing staff | Green Performance measure waived |
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| Staffing expenditures | Staffing cost growth is limited to 9% year-over-year increase (no more than $1,373,915 | Performance measure waived, with staffing cost growth of 11% year-over-year ($1,660,605). See waiver explanation above | Green Performance measure waived |
| Customer satisfaction | Demonstrate greater than 85% satisfaction rates for interaction with program representatives and overall satisfaction. | In compliance, with a 94% satisfaction rate for interaction with program representatives and a 94% overall satisfaction rate | Green In compliance |
| Benefit/cost ratios | Report utility system and societal perspective annually. Report significant mid-year changes as warranted in quarterly reports | In compliance, with no mid-year changes | Green In compliance |
| Northwest Energy Efficiency Alliance and market transformation | Report 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 | Green In compliance |
| Diversity, equity and inclusion | Energy Trust will come to the equity performance metrics discussions prepared to provide information requested by the Commission as outlined in the Budget related to: • Key communities by utility service territory • Impact of alternative fuels • Low-cost cooling measure opportunities | In compliance, Energy Trust staff participated in the equity performance metrics discussions and assisted OPUC staff in organizing and facilitating these events where possible | Green In compliance |
| Energy Trust shall conduct a minimum of four engagement activities with community organizations to present, refine and finalize Energy Trust goals for DEI Operations | In compliance, conducted four listening sessions with community organizations, using input to refine and finalize Energy Trust’s goals for DEI Operations | Green In compliance |
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