Promoting energy efficiency financing and ESCOs in developing countries: experiences from Korean ESCO business |
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| Institution: | 1. UNEP Collaborating Center on Energy and Environment, Riso National Laboratory, P.O. Box 49, Roskilde 4000, Denmark;2. Department of Finance, Isenberg School of Management, University of Massachusetts, Amherst, MA, USA;3. Korea Energy Management Corporation, South Korea;1. Department of Building & Real Estate, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Special Administrative Region;2. Department of Building Services Engineering, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong Special Administrative Region;1. Dept. of Construction Management and Real Estate, School of Economics and Management, Tongji Yabaite Institute of Facility Management, Tongji Univ., 1239 Siping Rd., Shanghai 200092, China;2. Dept. of Construction Management and Real Estate, School of Economics and Management, Tongji Univ., 1239 Siping Rd., Shanghai 200092, China;1. Operations and Information Management Department, Aston Business School, Birmingham, B4 7ET, UK;2. Centre for Circular Economy and Advanced Sustainability, Operations and Information Management Department, Aston Business School, Birmingham, B4 7ET, UK;3. Economics, Finance & Entrepreneurship Department, Aston University, Birmingham, B4 7ET, UK;4. Delft University of Technology, Netherlands;5. IMD, Switzerland;1. Energy Analysis and Environmental Impacts Department, Lawrence Berkeley National Laboratory, 1 Cyclotron Road, MS 90-4000, Berkeley, CA 94720, USA;2. Management Science and Engineering Department, School of Engineering, Stanford University, USA;3. National Association of Energy Service Companies, USA;1. Laboratory of Immunogenetics and Tissue Immunology, Ludwik Hirszfeld Institute of Immunology and Experimental Therapy, Polish Academy of Sciences, Wroclaw, Poland;2. Danylo Halytsky Lviv National Medical University, Department of Clinical Immunology and Allergology, Lviv, Ukraine;3. Department of Reproductive Biology and Stem Cells, Institute of Human Genetics, Polish Academy of Sciences, Poznan, Poland;4. Danylo Halytsky Lviv National Medical University, Department of Pediatric Surgery, Lviv, Ukraine |
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| Abstract: | Promotion of ESCO business is one way of increasing energy efficiency. However, it has a lot of barriers and challenges to be successful. The Korean case is a good example to show the reason why economically viable energy savings measures cannot be implemented and how this can be corrected. Although financing is essential for promoting energy efficiency investment and ESCO business, it is not the most crucial barrier to overcome. Along with a financial barrier, an institutional barrier should also be lifted for energy efficiency investment. In this regard, the role of government as a market creator as well as a rule setter through removing barriers and mobilizing necessary capital needs to be emphasized. |
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