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Current snapshot of the Turkish ESCO market

Author

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  • Akman, Ugur
  • Okay, Esin
  • Okay, Nesrin

Abstract

Turkey's Energy Efficiency Law (EEL), enacted in 2007, had been expected to transform the energy policies in government and private sectors, and offer opportunities for, then-impending, Turkish Energy Service Company (ESCO) market. Yet, the communiqué of the EEL related to ESCOs was released only recently in July 2012. In this work, we review the current status of the ESCO market in Turkey. We provide an outlook through the recent legal communiqué and present barriers, enabling factors, and opportunities, supported by country's financial and economic facts. ESCO-financing mechanism prevailing and the sources of financing in the country are also mentioned. The communiqué on ESCOs fits well in the chain of regulatory attempts to increase Turkey's competitiveness in the global markets. However, we anticipate that some of its principles and procedures to be enforced may be deterrent for small-scale candidate ESCOs and may slow down the expected development of the Turkish ESCO market. Otherwise, the communiqué should lead restructuring of a stronger ESCO market in Turkey.

Suggested Citation

  • Akman, Ugur & Okay, Esin & Okay, Nesrin, 2013. "Current snapshot of the Turkish ESCO market," Energy Policy, Elsevier, vol. 60(C), pages 106-115.
  • Handle: RePEc:eee:enepol:v:60:y:2013:i:c:p:106-115
    DOI: 10.1016/j.enpol.2013.04.080
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    1. Lu, Shilei & Feng, Wei & Kong, Xiangfei & Wu, Yong, 2014. "Analysis and case studies of residential heat metering and energy-efficiency retrofits in China′s northern heating region," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 765-774.
    2. Shang, Tiancheng & Zhang, Kai & Liu, Peihong & Chen, Ziwei & Li, Xiangpeng & Wu, Xue, 2015. "What to allocate and how to allocate?—Benefit allocation in Shared Savings Energy Performance Contracting Projects," Energy, Elsevier, vol. 91(C), pages 60-71.

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