This is an analysis of the model used by the City Energy Project (CEP) — a national initiative to create healthier and more prosperous American cities by improving the energy efficiency of large buildings. The Kresge Foundation supported the analysis as part of an evaluation of the CEP that provided demonstrable benefits to the field of commercial building energy efficiency by increasing city-level capacity and stakeholder engagement, helping pass energy policies and related programming, and helping advance federal and other agencies’ tools and resources. CEP is a joint initiative of the Natural Resources Defense Council and the Institute for Market Transformation. The evaluation was conducted by Ross Strategic.