Moreover, they will not cover small-scale project developers who are most in need of insurance and guarantee. Pricing is typically 1% of the project cost or stipulated savings, with a wide range (0.1% to 1.5%) depending on the caliber of the bond purchaser. One example identified bond costs for a USD 200 000/year energy saving guaranty (USD 1.8 million cap cost project) were USD 3 000 to USD 4 000 annually (1.5% to 2% of the project's lifetime savings)." The case of risk-guarantee mechanisms have led to sustainable changes by granting local financial stakeholders time to familiarise themselves with the specificities of EE project financing and learn the technicality required.