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2018 Annual Report

Solar Energy
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Making a Commitment to diversity, equity and inclusion

10 diversity, equity and inclusion goals for 2019 and 2020

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Grocery store owner smiles in an aisle

Helping customers do more with less energy

A family grocery, rural retirees and a food processing plant are saving energy

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Retiree stands in front of rural home

Helping customers invest in green power

A school, irrigation district and tribal health center are generating clean power

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Health care worker uses stethoscope on older person

Impact In Our Communities

We've helped families, businesses, factories and farms across Oregon and Southwest Washington use less energy and invest in renewable power.

Efficient new home cuts energy costs for rural residents

"Our home is warm, cozy and oh so quiet. And with Energy Trust incentives, it didn’t cost any more than standard construction."

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Insulation
Highly insulated 10” walls
Ductless Heat Pump
Ductless heat pump
Windows
High-performance windows

Helping customers do more with less energy

High school aces energy-efficient design

"The goal is to make the school net zero—reducing operating costs and using that money for books and technology that enhance our students' learning experience."

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Solar
Solar-ready infrastructure for a future roof-mounted solar system
HVAC
Heating and cooling system recovers and reuses waste heat
Windows
High-efficiency windows
Parking Lot
Parking lot solar system
250-kilowatt

Helping Customers Invest in Green Power

Making a Commitment to Diversity, Equity and Inclusion

We believe it is our responsibility to design programs so that all customers can directly benefit from our services, including people with low and moderate incomes, communities of color and rural communities.

That’s why we developed 10 diversity, equity and inclusion goals in 2018 that will challenge us to identify customers who are not participating in our programs, explore new program designs to reach those customers, establish relationships with organizations who work with and represent those customers, and better reflect the communities we serve.

Our goal is to increase participation in underserved populations in energy efficiency and renewable energy programs by 20% by 2020.
  • Report on Progress to Goals
    Publish the diversity, equity and inclusion operations plan and progress towards its goals.
    Measure Progress
    Develop systems and support needed to collect, track, analyze and report demographic information related to program participation, program delivery and Trade Ally Network members.
    Hire More Diverse Staff
    Increase the diversity in recruitment and hiring of employees by 25 percent.
  • Expand Trade Ally Network
    Increase participation in the Trade Ally Network by minority-owned and women-owned businesses by 50 percent.
    Expand Trade Ally Projects
    Increase the number of projects completed by minority-owned and women-owned trade allies by 15 percent.
    Diversify Contracts
    Increase the number of contracts executed with minority-owned and women-owned businesses by 15 percent.
  • Build Relationships
    Increase market awareness and understanding of underserved populations by developing and deepening relationships with up to 50 organizations.
    Increase Awareness
    Increase organizational cultural awareness to create a more inclusive work environment where all employees feel welcome.

Savings + Generation Results

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

  • 54.0 aMW

    95% of 56.6 aMW goal
    Review the breakdown
    PGE
    34.7 aMW
    95% of 36.4 aMW goal
    Pacific Power
    19.3 aMW
    96% of 20.2 aMW goal

  • 7.5 MMTh

    114% of 6.6 MMTh goal
    Review the breakdown
    NW Natural
    6.5 MMTh
    115% of 5.7 MMTh goal
    Cascade Natural Gas
    0.59 MMTh
    108% of 0.55 MMTh goal
    Avista
    0.41 MMTh
    117% of 0.35 MMTh goal

  • 2.39 aMW

    126% of 1.89 aMW goal
    Review the breakdown
    PGE
    1.33 aMW
    124% of 1.08 aMW goal
    Pacific Power
    1.06 aMW
    130% of 0.82 aMW goal
  • Since 2002

    Public Benefit from $1.8 Billion Investment by Energy Trust

  • $7.7
    billion
  • $7.3
    billion
  • 29.3
    million tons

Transparency + Accountability

Energy Trust is governed by a volunteer board of directors and is overseen by the Oregon Public Utility Commission. 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 options.
  • 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.
  • We established diversity, equity and inclusion goals in 2018.
Revenues And Expenditures
  • Revenues totaled $188.1 million.
  • Expenditures totaled $174.8 million.
  • Delivered $94.3 million in incentives, with most of the remainder for delivery of customer services.
  • Maintained low administrative and program support costs at 5.7 percent ($10.8 million) of revenue.

Measuring 2018 Performance

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

  • Achieved 95 percent customer satisfaction
  • Kept staffing expenditures at 6.8 percent of total expenditures on a three-year rolling average
Category2018 Performance Measures2018 ResultsStatus
PGE efficiencySave at least 30.9 aMWExceeded, with 34.7 aMW saved
Levelized cost not to exceed 3.3 cents/kWhWithin requirement, levelized cost at 2.7 cents/kWh
Pacific Power efficiencySave at least 17.2 aMWExceeded, with 19.3 aMW saved
Levelized cost not to exceed 3.6 cents/kWhWithin requirement, levelized cost at 2.9 cents/kWh
NW Natural efficiency Save at least 4.8 million annual thermsExceeded, with 6.5 million annual therms saved
Levelized cost not to exceed 37 cents/thermWithin requirement, levelized cost at 26.4 cents/therm
Cascade Natural Gas efficiencySave at least 0.47 million annual thermsExceeded, with 0.59 million annual therms saved
Levelized cost not to exceed 43 cents/thermWithin requirement, levelized cost at 27.9 cents/therm
Avista efficiencySave at least 0.30 million annual thermsExceeded, with 0.41 million annual therms saved
Levelized cost not to exceed 25 cents/thermWithin requirement, levelized cost at 24.7 cents/therm
Renewable energyFor project and development assistance (part 1), deploy at least $1.72 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 $2,524,938 and committed $1,749,327 in project development assistance to 31 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 perspective.In compliance
Obtain at least 1.6 aMW of installed generation of standard net-metered Solar program projects.Exceeded, 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 selection.In compliance, program did not dedicate funds for custom solar projects in 2018
Financial integrityReceive an unmodified financial opinion from an independent auditor on annual financial statementsIn compliance, with an unmodified financial audit opinion for 2018
Administrative/ program support costsKeep administrative/program support costs below 8 percent of annual revenuesWithin requirement, with 2018 administrative and program support costs at 5.7 percent of annual revenues
Staffing expendituresTotal staffing expenditures not to exceed 7.75 percent 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 6.8 percent of total organization expenditures for 2015-2018
Customer satisfactionDemonstrate greater than 85 percent satisfaction rates for interaction with program representatives and overall satisfactionAchieved, with a 97 percent satisfaction rate for interaction with program representatives and a 95 percent overall satisfaction rate. Results for major programs are averaged to determine satisfaction rates.
Benefit/cost ratiosReport utility system and total resource perspective annually. Report significant mid-year changes as warranted in quarterly reports.Achieved, 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
Download the Annual Report
Download 2018 Audited Financial Statements