Suchergebnisse

ObjectiveWe examine whether Property Assessed Clean Energy (PACE) programs, an innovative financing mechanism using municipal bonds to finance the up‐front cost of household energy conservation projects, reduced conventional energy purchases by residential customers and increased energy generated through residential solar panel and fuel cell installations.MethodsUsing data on municipal bond issuances, electricity and natural gas purchases, and self‐generated energy, we use a difference‐in‐differences design to estimate the effect of PACE bonds issued in California between 2009 and 2017 on purchases and self‐generation.ResultsWe find more residential energy self‐generation in counties with PACE programs. Results are inconclusive for conventional energy purchases, suggesting a possible rebound effect.ConclusionWhile innovative financing mechanisms facilitate access to otherwise prohibitively expensive technologies, governments must consider that behavioral responses may result in lower efficacy than desired and should consider pairing financing tools with instruments that concurrently promote reduced energy consumption.

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Financial supporting schemes for the energy upgrading of the building sector in Europe constitute one of the major policies of the European Union (EU). Since the beginning of the 2000s, dozens of funding programs and initiatives have been announced by the European Commission (EC). It is a fact that the majority of these policies have borne fruit, as the metrics on both energy savings in the building sector and the promotion of renewable energy in the built environment have turned the EU into a global pioneer. This paper attempts to give a brief overview of the main policy and financial tools for the energy upgrading of the built environment in Europe. Emphasis is placed on three major mechanisms, which concern different-scale projects: crowdfunding projects, public-private co-financing projects, and large-scale projects funded by financial institutions such as European Investment Bank (EIB). Reference is also made to recently implemented EU funded research programs in this field. This work aspires to constitute a reference study for future research activities in the field of financial supporting schemes for energy upgrading of buildings in Europe.

Die vorliegende Bachelorarbeit beschäftigt sich mit der nachhaltigen Quartiersentwicklung, einem jungen Forschungsfeld der Stadtgeographie, und dem Clean Development Mechanism (CDM). Letztgenannter ist ein Klimaschutzinstrument aus dem Kyoto Protokoll, der die nachhaltige Entwicklung in Entwicklungsländern befördern soll. Es wird der Frage nachgegangen, ob der CDM nachhaltige Entwicklung, unter den besonderen Gegebenheiten eines Quartiers (mit besonderem Entwicklungsbedarf), realisiert. Ziel ist es zu diskutieren, was ein Quartier und dessen nachhaltige Entwicklung definiert sowie den Einfluss des CDM in diesem Bereich. Die Fragestellungen werden auf Grundlage der Auswertung aktueller Fachliteratur und ergänzend durch ein Experteninterview diskutiert. Hierfür wird ein Fallbeispiel, das CDM-Projekt Kuyasa low-cost urban housing energy upgrade anhand eines Indikatorenkatalogs untersucht. Die Analyse führt zu dem Ergebnis, dass das Kuyasa-Projekt einen starken positiven Einfluss auf die Ortsbindung, Partizipation und ökomische Stärkung der Bewohner hat sowie auch teilweise zum Erlernen sozialer Normen anregt. Diese Indikatoren sind Ausdruck sozialer Kohäsion, d.h. des sozialen Zusammenhalts, die auf die Bildung von Sozialkapital schließen lassen - die wichtigste Voraussetzung für nachhaltige Quartiersentwicklung. Damit trägt der CDM, im Rahmen des Fallbeispiels, potentiell zur nachhaltigen Quartiersentwicklung bei. Es zeigt sich aber auch, dass es weiterer Forschung, unter anderem der Auswertung und dem Vergleich mehrerer CDM-Projekt(typen) bedarf, um eine belastbare Aussage über den CDM im Allgemeinen tätigen zu können.

The continuous growth of renewable energy and the transition to a more de-centralised electricity generation adds significant complexity to balance power supply and demand in the grid. These imbalances are partially compensated by demand response programs, which represent a new business opportunity in the building sector, especially for ESCOs. Including demand response to their traditional energy efficiency-based business model adds an additional revenue stream that could potentially shorten payback periods of energy renovation projects. This paper introduces this new dual-services business model, and evaluates the potential suitability of HVAC, generation and storage technologies to ensure proposed energy efficiency and flexibility goals. ; This paper is part of a project that has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement No 745594. This paper reflects only the author´s views and neither the Agency nor the Commission are responsible for any use that may be made of the information contained therein

Is the law of ownership a barrier to energy upgrades in apartment blocks? Co-owners in multi-owned properties face challenges in reaching agreement to implement energy efficiency measures that owners of single family residences do not encounter. At the European level, this difficulty is recognised in Article 19 of the 2012 Energy Efficiency Directive, by which governments are obliged to address barriers to improvements which arise in the specific context of multi-owner properties. Despite this, the position of apartment owners remains mostly invisible in the policy discourse. The small quantity of literature examining the difficulties of group decision making around energy efficiency in apartments has so far focused on mapping the issues. This paper begins the process of 'colouring in' the existing outlines by providing an in-depth delineation of the governance barriers to energy upgrades presented by the law of ownership and management in two European jurisdictions: England and Scotland. A doctrinal analysis is employed to ascertain the relevant legal issues and identify how property law constitutes a barrier to energy upgrades within the framework of existing behavioural models. A theoretical inquiry is then used to suggest that reconceptualising property law in the context of multi-owner properties to focus on collective responsibilities rather than individual rights may help to minimise this effect of the law. The paper concludes with recommendations for further research to identify the range of issues property law presents across EU member states. This data is needed to fully test the reconceptualisation hypothesis presented here.

Is the law of ownership a barrier to energy upgrades in apartment blocks? Co-owners in multi-owned properties face challenges in reaching agreement to implement energy efficiency measures that owners of single family residences do not encounter. At the European level, this difficulty is recognised in Article 19 of the 2012 Energy Efficiency Directive, by which governments are obliged to address barriers to improvements which arise in the specific context of multi-owner properties. Despite this, the position of apartment owners remains mostly invisible in the policy discourse. The small quantity of literature examining the difficulties of group decision making around energy efficiency in apartments has so far focused on mapping the issues. This paper begins the process of 'colouring in' the existing outlines by providing an in-depth delineation of the governance barriers to energy upgrades presented by the law of ownership and management in two European jurisdictions: England and Scotland. A doctrinal analysis is employed to ascertain the relevant legal issues and identify how property law constitutes a barrier to energy upgrades within the framework of existing behavioural models. A theoretical inquiry is then used to suggest that reconceptualising property law in the context of multi-owner properties to focus on collective responsibilities rather than individual rights may help to minimise this effect of the law. The paper concludes with recommendations for further research to identify the range of issues property law presents across EU member states. This data is needed to fully test the reconceptualisation hypothesis presented here.

Europe's building stock is entering a transition phase, becoming an active player in the energy system, controlling, producing, storing, and consuming energy. The explosion of smart technologies enabling a more efficient use of energy in buildings will inevitably redesign the built environment and the linked energy flows. This study attempts to offer a presentation of the legislative framework and targets of EU on energy efficiency and how this policy and long-term strategy affects the national plan of Greece for energy efficiency in building sector. Cases of energy upgrading of residential and office buildings in Greece will be presented and the amount of investment will be assessed in relation to the percentage of energy upgrade. The article concludes framing the five pillars of a smart built environment for EU.

Purpose
– The purpose of this paper is to exam the financial impact on the owner/lessor who is considering a partial energy upgrade to an existing medical office building. The owner who leases the building using a triple net lease does the upgrade prior to leasing the building, with the expectation of earning higher rents. How much should the owner who leases the property spend for a given rent per square foot increase?


Design/methodology/approach
– The empirical study highlights the impact of key financial variables on the dependent variable medical office construction spending put in place in the USA. The independent variables prime interest rate, cost of natural gas per therm and electricity cost per KWH, resale building prices are significant variables when predicting medical office construction spending. A case study using a cost-benefit model is developed. It inputs corporate income tax rates, incorporates a debt service coverage ratio, prime interest rate, analyzes investment tax credit (ITC) and rebate scenarios and varies the level of rental income and energy savings. The case study results provide insight into which factors are enabling higher net construction spending when considering a green energy retrofit project. Both the regression model and the case study model focussed on the owner of a building who rents medical office space to tenants using a triple net lease. The owner/lessor paradigm analyzes revenue enhancements, the tax implications of having these savings and benefits associated with borrowing when financing the green retrofit. The availability of low cost borrowing, increases in the ITC percent and rebates and increases in rent per square foot have an impact on potential energy upgrade spending.


Findings
– The empirical model finds the independent variables to be significant. Utility cost, resale value of office buildings, the prime interest rate, business bankruptcy court filings and unemployment rate fluctuations adequately explain movements in medical office building spending for the years 2000 through 2015 yielding a R2 of 73.8 percent. The feasibility case study indicates that the energy saving levels and ITCs not income tax rates are the primary drivers for a partial energy retrofit.


Research limitations/implications
– Market incentives are a function of the cost of energy. If the cost of energy drops, then the profit incentive to conserve energy becomes less important. The role of tax credits, rebates, property tax reductions and government directives, then become primary incentives for installing energy upgrades. The owner of an empty building assumes all of the operating costs normally paid by a tenant under a triple net lease. This possibility was not included in the replacement cost-benefit model used in this paper.


Practical implications
– The feasibility of doing an energy upgrade to an existing building requires that a cost-benefit analysis be undertaken. The independent variables that are significant when doing a regression model or proxies for these variables are incorporated into a present value model. The results in Table V can be used as an initial template for determining how much to spend per square foot when doing an energy upgrade. The square foot amounts can be applied to different size office buildings. The corporate income tax rate or a personal income tax rate has minimal impact on energy construction upgrade spending.


Social implications
– More energy efficient office buildings reduce the amount of greenhouse gases released into the atmosphere. Energy efficient buildings also conserve on scarce fuel reserves. ITCs and rebates limit the role of government in directing decisions to do energy upgrades. The market mechanism to some degree can help encourage energy conservation through asset upgrades.


Originality/value
– The paper incorporates an empirical model which is a form of technical analysis to examine independent variables that explain medical office building spending with a case study structured on expected revenues and costs which takes a fundamental approach to understanding the relationship between the dependent variable and its independent variables. The regression model combines factors that impact the demand for energy efficient medical buildings from an owner/lessor perspective which includes resale values of existing buildings, business bankruptcy filings and unemployment rates. Supply independent variables include the prime interest rate and electricity per KWH and natural gas per therm. The regression model found these variables to be significant. The case study uses the same independent variables or close proxy variables to determine the maximum financially feasible per square foot spending that can be invested in energy upgrades.

With the steady rise in power consumption, automobile usage, and industrial production worldwide for the past century, countries have realized that meeting these ever-growing energy demands could potentially devastate the environment. In the United States, generating electrical power constitutes the largest source of carbon dioxide emissions and the majority of this power is used to electrify buildings both in the commercial and residential sectors. It is estimated that 21% of all electrical power generated in the United States is consumed by residential buildings. To reduce the total amount of electricity that need be generated (and therefore, the amount of pollution) governments have invested heavily into energy efficiency research especially in the major power consuming sector of residential buildings. The ultimate goal of energy efficient measures is to cut the power consumption of a building enough that all of the energy needs can be met by an on-site renewable energy system such as photovoltaic solar panels. This would result in what many call a "zero energy building." This paper quantitatively investigates the effectiveness of potential energy efficient upgrades in a residential home through various building energy simulation techniques including the computer building load and energy requirement software entitled "Transient Analysis of Building Loads and Energy Requirements" or TABLER. Energy savings from energy efficient upgrades were investigated in the areas of residential lighting, building envelope infiltration mitigation, advanced insulating materials, advanced window technologies, electrical plug-load reduction strategies, and energy efficient appliance options. Results of simulations show significant energy savings for various energy efficient upgrades can be achieved either by a reduction in the electrical power consumed directly by the device (lighting, electronics, and appliances) or by a reduction in power consumption of the home heating, ventilation, and air-conditioning (HVAC) equipment used to remove or add heat to the conditioned space throughout the year. The effectiveness of individual upgrades as compared to the total investment required to implement them is a matter of opinion slanted by whether energy conservation or return on investment is the ultimate goal.