Financing Energy Efficiency: Lessons from Brazil, China, India, and Beyond

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World Bank Publications, Feb 8, 2008 - Science - 304 pages
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While energy efficiency projects could partly meet new energy demand more cheaply than new supplies, weak economic institutions in developing and transitional economies impede developing and financing energy efficiency retrofits. This book analyzes these difficulties, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.
 

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Contents

Chapter 1 Introduction
23
Figure 11 Growth of Developing Countries Energy Demand
25
Figure 12 EnergyRelated CO2 Emissions Growth to 2030
27
Box 11 Energy Efficiency Investments Are Very CostEffective
29
Chapter 2 Summary of the Energy Efficiency Terrain
35
Table 21 Energy Efficiency Interventions by Economic Sector
37
Table 22 Typical Policy and Regulatory Tools to Promote Energy Efficiency in New Facilities
38
Box 21 Why Distinguish Between Restructuring Projects and Standard Energy Efficiency Projects?
39
Chapter 3 Orgins and Persistence of Energy Inefficiency
49
Brazil China and India Compared to Canada and the United States
57
Chapter 4 Models for Delivering Energy Efficiency Investments
63
Box 41 Generalized Model for Developing New Energy Efficiency Investment Delivery Mechanisms in Developing Countries
68
Chapter 5 Identifying and Developing Energy Efficiency Investment Projects
79
Chapter 6 Delivery of Financing
101
Chapter 7 Making Investment Delivery Mechanisms Work
117
Box 71 One Example of a Failed Project
121
Figure 71 Shared Savings EPC Model
132
Figure 72 Guaranteed Savings EPC Model
133
Chapter 8 Conclusions and Recommendations
141
PART II ENERGY EFFICIENCY FINANCE CASE STUDIES
155
Introduction to Part II
157
1 China ESCO Loan Guarantee Program
162
Figure CS11 Structural Overview of the EMC Loan Guarantee Program
164
2 Hungary Energy Efficiency Guarantee Fund
170
Figure CS21 Hungary Energy Efficiency Cofinancing Program Institutional Arrangements
171
Table CS21 Evolution of HEECP Parameters 19972006
173
Figure CS22 HEECP Results 19972006
174
3 Romania Energy Efficiency Fund
181
Table CS31 Romania Financial Market Conditions
182
6 Lithuania Energy Efficiency and Housing Pilot Project
205
Figure CS61 Lithuania Energy Efficiency Project Institutional Arrangements
206
Table CS61 Lithuania Energy Efficiency Project Results
208
7 Chinas FullService ESCOs
213
Figure CS71 Chinas FullService Shared Savings ESCO Model
214
Table CS71 China ESCO EPC Project Investment 20052006
217
Figure CS72 Types of Projects Implemented 19972006 by Three Chinese ESCOs
219
8 ESCO Development in the United States and Canada
224
Figure CS81 Shared Savings Contracting Model
227
9 Brazil Public Benefit WireCharge Mechanism
235
Table CS91 Allocation of WireCharge Uses in Brazil 19982007
236
Table CS92 Total Investment in Regulated Utility Energy Efficiency Programs in Brazil
237
Figure CS91 Breakdown of Brazilian Utilities Energy Efficiency Investments by Sector 19982003
238
Table CS93 ESCO Contracts with Brazilian Utilities in Energy Efficiency Regulated Programs
239
Box CS91 Summary of Some Ideas for Reform of Brazils WireCharge
241
Using the Utility Bill as a Loan Repayment Mechanism
243
Institutional Arrangements
244
11 Dongying Shengdong EMC Waste Gas Power Projects
246
Figure CS111 Dongying Shengdong EMC Ownership and Business Arrangements
247
12 Iqara Energy Services in Brazil
250
Figure CS121 Iqaras Business Model
252
Table CS121 Iqara Projects
253
13 India Capacitor Leasing
257
Figure CS131 Institutional Arrangements in a Capacitor Leasing Project in India
258
BIBLIOGRAPHY
261
APPENDIX GLOSSARY OF SELECTED TERMS IN NEW INSTITUTIONAL ECONOMICS NIE THAT RELATE TO ENERGY EFFICIENCY FIN...
265
INDEX
273
Copyright

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Page 30 - Bank) consists of five closely associated institutions: the International Bank for Reconstruction and Development (IBRD), the International Development Association (IDA), the International Finance Corporation (IFC), the Multilateral Investment Guarantee Agency (MIGA), and the International Centre for Settlement of Investment Disputes (ICSID). The World Bank...
Page 269 - Its goal is to explain what institutions are, how they arise, what purposes they serve, how they change and how — if at all — they should be reformed.
Page 96 - The goals should result from the needs analysis; they should represent what is to be achieved rather than how it is to be done.
Page 270 - The reason is that the organizations of an economy and the interest groups they produce are a consequence of the opportunity set provided by the existing institutional framework.
Page 269 - New Institutional Economics (NIE) is an interdisciplinary enterprise combining economics, law, organization theory, political science, sociology and anthropology to understand the institutions of social, political and commercial life. It borrows liberally from various social-science disciplines, but its primary language is economics.
Page 270 - The resulting complementarities, economies of scope and network externalities reflect the symbiotic interdependence among the existing rules, the complementary informal constraints, and the interests of members of organizations created as a consequence of the institutional framework. In effect, an institutional matrix creates organizations and interest groups whose welfare depends on that institutional framework.
Page 269 - Organizations include political bodies (political parties, regulatory agencies), economic bodies (firms, trade unions), social bodies (churches, clubs), and educational bodies (schools, universities). Note that the term 'institution' refers to the rules of the game, whereas 'organization' refers to players of the game.
Page 57 - Number of procedures from the moment the plaintiff files a lawsuit in court until the moment of payment.
Page 267 - Formal institutions (such as by-laws, national laws, policies, the national constitution, and international laws and treaties) are part of the institutional environment and distinct from institutional arrangements.
Page 87 - An explicit exception, however, is the chauffage model, where a third-party project developer essentially takes over complete responsibility for the provision to the client of an agreed set of energy services over a long term (see Case Studies 11 and 12).

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