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Analysis of ESCO Activities Using Country Indicators

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Author Info
Okay, Nesrin
Akman, Ugur

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Abstract

Energy Service Companies (ESCOs) are private sector instruments that offer energy-/emission-improvement (energy saving, energy efficiency, energy conservation, emission reduction) projects in the developed and in some developing countries. Literature reveals that energy-/emission-improvements of countries may be related to their innovation- and R&D-activity levels. In this work, we use a literature data on the activities and the sectors targeted by ESCOs in 38 countries, summarized in terms of the age of ESCO market (AEM), number of ESCO companies (NE), and total value of ESCO projects (VE). Along with the Global Innovation Index (GII) data of the countries, we investigate the relationships among the ESCO Indicators (EIs: AEM, NE, VE, sectors targeted by ESCOs), and the Country Indicators (CIs: GII and per-capita GDP, energy consumption, CO2 emission). We observe noteworthy dependencies between the EIs and CIs. Using the simple trend equations we estimate the missing VEs in the original data. We also project, as a hint for the size and orientation of the upcoming Turkish ESCO market, the set of EIs and the distribution of the sectors that are likely to be targeted by ESCOs in Turkey.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 17012.

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Date of creation: 29 Aug 2009
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Handle: RePEc:pra:mprapa:17012

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Related research
Keywords: Energy service companies; ESCO; Global Innovation Index; GDP; Energy consumption; Greenhouse-gas (CO2) emission; R&D;

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Find related papers by JEL classification:
O1 - Economic Development, Technological Change, and Growth - - Economic Development
Q55 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Technological Innovation
L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods
O3 - Economic Development, Technological Change, and Growth - - Technological Change
Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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  1. Okay, Esin & Okay, Nesrin & Konukman, Alp Er S. & Akman, Ugur, 2008. "Views on Turkey's impending ESCO market: Is it promising?," Energy Policy, Elsevier, vol. 36(6), pages 1821-1825, June. [Downloadable!] (restricted)
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    Other versions:
  3. Dmitry Efremov & Danil Smirnyagin & Olga Valerianova & Hannu Hernesniemi, 2004. "ESCO Companies in Northwest Russia, Legal Issues and Organizational Schemes," Discussion Papers 912, The Research Institute of the Finnish Economy. [Downloadable!]
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  6. Hekkert, Marko P. & Harmsen, Robert & de Jong, Arjen, 2007. "Explaining the rapid diffusion of Dutch cogeneration by innovation system functioning," Energy Policy, Elsevier, vol. 35(9), pages 4677-4687, September. [Downloadable!] (restricted)
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  12. Anderson, Soren T. & Newell, Richard G., 2004. "Information programs for technology adoption: the case of energy-efficiency audits," Resource and Energy Economics, Elsevier, vol. 26(1), pages 27-50, March. [Downloadable!] (restricted)
    Other versions:
  13. Mulder, Peter & de Groot, Henri L. F. & Hofkes, Marjan W., 2003. "Explaining slow diffusion of energy-saving technologies; a vintage model with returns to diversity and learning-by-using," Resource and Energy Economics, Elsevier, vol. 25(1), pages 105-126, February. [Downloadable!] (restricted)
  14. David Popp, 2002. "Induced Innovation and Energy Prices," American Economic Review, American Economic Association, vol. 92(1), pages 160-180, March. [Downloadable!]
  15. Dean C. Mountain & Bill P. Stipdonk & Cathy J. Warren, 1989. "Technological Innovation and a Changing Energy Mix - A Parametric and Flexible Approach to Modeling Ontario Manufacturing," The Energy Journal, International Association for Energy Economics, vol. 10(4), pages 139-158.
  16. Beerepoot, Milou & Beerepoot, Niels, 2007. "Government regulation as an impetus for innovation: Evidence from energy performance regulation in the Dutch residential building sector," Energy Policy, Elsevier, vol. 35(10), pages 4812-4825, October. [Downloadable!] (restricted)
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