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Analysis of ESCO Activities Using Country Indicators

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  • Okay, Nesrin
  • Akman, Ugur

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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Bibliographic Info

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

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References

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Cited by:
  1. Garbuzova, Maria & Madlener, Reinhard, 2012. "Russia’s Emerging ESCO Market: Prospects and Barriers for Energy Efficiency Investments," FCN Working Papers 6/2012, E.ON Energy Research Center, Future Energy Consumer Needs and Behavior (FCN), revised Sep 2012.
  2. WenShwo Fang & Stephen M. Miller, 2012. "The effect of ESCOs on carbon dioxide emissions," Working papers 2012-14, University of Connecticut, Department of Economics.
  3. WenShwo Fang & Stephen M. Miller & Chih-Chuan Yeh, 2012. "The effect of ECSOs on energy use," Working papers 2012-13, University of Connecticut, Department of Economics.
  4. Akman, Ugur & Okay, Esin & Okay, Nesrin, 2013. "Current snapshot of the Turkish ESCO market," Energy Policy, Elsevier, vol. 60(C), pages 106-115.
  5. Marino, Angelica & Bertoldi, Paolo & Rezessy, Silvia & Boza-Kiss, Benigna, 2011. "A snapshot of the European energy service market in 2010 and policy recommendations to foster a further market development," Energy Policy, Elsevier, vol. 39(10), pages 6190-6198, October.
  6. Severino Romano & Mario Cozzi & Francesco Di Napoli & Mauro Viccaro, 2013. "Building Agro-Energy Supply Chains in the Basilicata Region: Technical and Economic Evaluation of Interchangeability between Fossil and Renewable Energy Sources," Energies, MDPI, Open Access Journal, vol. 6(10), pages 5259-5282, October.

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