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Energy conservation through energy service companies: Empirical analysis from China

  • Kostka, Genia
  • Shin, Kyoung

China's energy-service companies (ESCOs) have developed only modestly despite favorable political and market conditions. We argue that with sophisticated market institutions still evolving in China, trust-based relations between ESCOs and energy customers are essential for successful implementation of energy efficiency projects. Chinese ESCOs, who are predominantly small and private enterprises, perform poorly in terms of trust-building because they are disembedded from local business, social, and political networks. We conclude that in the current institutional setting, the ESCO model based on market relations has serious limitations and is unlikely to lead to large-scale implementation of energy efficiency projects in China.

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File URL: http://www.sciencedirect.com/science/article/pii/S0301421512009159
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Article provided by Elsevier in its journal Energy Policy.

Volume (Year): 52 (2013)
Issue (Month): C ()
Pages: 748-759

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Handle: RePEc:eee:enepol:v:52:y:2013:i:c:p:748-759
DOI: 10.1016/j.enpol.2012.10.034
Contact details of provider: Web page: http://www.elsevier.com/locate/enpol

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  1. Wang, GuoHong & Wang, YunXia & Zhao, Tao, 2008. "Analysis of interactions among the barriers to energy saving in China," Energy Policy, Elsevier, vol. 36(6), pages 1879-1889, June.
  2. Michael Rothschild & Joseph Stiglitz, 1976. "Equilibrium in Competitive Insurance Markets: An Essay on the Economics of Imperfect Information," The Quarterly Journal of Economics, Oxford University Press, vol. 90(4), pages 629-649.
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  4. Vine, Edward, 2005. "An international survey of the energy service company (ESCO) industry," Energy Policy, Elsevier, vol. 33(5), pages 691-704, March.
  5. Zhou, Nan & Levine, Mark D. & Price, Lynn, 2010. "Overview of current energy-efficiency policies in China," Energy Policy, Elsevier, vol. 38(11), pages 6439-6452, November.
  6. Price, Lynn & Wang, Xuejun & Yun, Jiang, 2010. "The challenge of reducing energy consumption of the Top-1000 largest industrial enterprises in China," Energy Policy, Elsevier, vol. 38(11), pages 6485-6498, November.
  7. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
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