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Author: Publisher: ISBN: Category : Dwellings Languages : en Pages : 79
Book Description
On-bill financing is an established tool to make financing for energy improvements available to utility customers. In a traditional on-bill (TOB) loan program, a utility customer borrows funds for an energy improvement, and the utility bill serves as the vehicle for collecting loan payments. TOB has been implemented as a tool to expand access to home energy upgrades in numerous utility jurisdictions nationwide, but not previously in Minnesota. This study primarily considers economic and financial elements of program feasibility, though it also serves to catalogue key policy and regulatory items that were flagged by working group participants and which must be addressed in any future program design process.
Author: Publisher: ISBN: Category : Dwellings Languages : en Pages : 79
Book Description
On-bill financing is an established tool to make financing for energy improvements available to utility customers. In a traditional on-bill (TOB) loan program, a utility customer borrows funds for an energy improvement, and the utility bill serves as the vehicle for collecting loan payments. TOB has been implemented as a tool to expand access to home energy upgrades in numerous utility jurisdictions nationwide, but not previously in Minnesota. This study primarily considers economic and financial elements of program feasibility, though it also serves to catalogue key policy and regulatory items that were flagged by working group participants and which must be addressed in any future program design process.
Author: Publisher: ISBN: Category : Languages : en Pages :
Book Description
Consumers regularly forgo purchases of high efficiency appliances that appear to be cost effective at a reasonable rate of return. While some argue that this is a true revelation of preferences for appliance features, this 'efficiency gap' can be largely explained by a combination of market and behavioral failures that reduce consumers ability to evaluate the relative value of appliances and skew preferences toward initial cost savings, undervaluing future reductions in operating costs. These failures and barriers include externalities of energy use, imperfect competition between manufacturers, asymmetric information, bounded rationality, split incentives, and transaction costs (Golove 1996). Recognizing the social benefit of energy conservation, several major methods are used by policymakers to ensure that efficient appliances are purchased: minimum efficiency standards, Energy Star labeling, and rebates and tax credits. There is no single market for energy services; there are hundreds of uses, thousands of intermediaries, and millions of users, and likewise, no single appropriate government intervention (Golove 1996). Complementary approaches must be implemented, considering policy and institutional limitations. In this paper, I first lay out the rationale for government intervention by addressing the market and behavioral failures and barriers that arise in the context of residential energy efficiency. I then consider the ways in which some of these failures and barriers are addressed through major federal programs and state and utility level programs that leverage them, as well as identifying barriers that are not addressed by currently implemented programs. Heterogeneity of consumers, lack of financing options, and split incentives of landlords and tenants contribute significantly to the under-adoption of efficient appliances. To quantify the size of the market most affected by these barriers, I estimate the number of appliances, and in particular the number of outdated appliances, in California rental housing. Appliances in rental housing are on average older than those in owner occupied housing. More importantly, a substantial proportion of very old appliances are in rental housing. Having established that a very old stock of appliances exists in California rental housing, I discuss tariff financing as a policy option to reduce the impact of the remaining market and behavioral barriers. In a tariff financing program, the utility pays the initial cost of an appliance, and is repaid through subsequent utility bills. By eliminating upfront costs, tying repayment to the gas or electric meter, requiring a detailed energy audit, and relying upon utility bill payment history rather than credit score in determining participant eligibility, tariff financing largely overcomes many barriers to energy efficiency. Using California as a case study, I evaluate the feasibility of implementing tariff financing. For water heaters in particular, this appears to be a cost-effective strategy. Tariff financing from utilities is particularly valuable because it improves the ability of low-income renters to lower their utility bills, without burdening landlords with unrecoverable capital costs. To implement tariff financing country-wide, regulations in many states defining private loan-making institutions or the allowable use of public benefit funds may need to be modified. Tariff financing is relatively new and in most locations is only available as a pilot program or has only recently exited pilot phase. This preliminary evaluation suggests that tariff financing is a valuable future addition to the toolkit of policymakers who aim to increase the diffusion of efficient appliances. While regulatory approval is necessary in states that wish to pursue tariff financing, at this point, the major barrier to further implementation appears to be the newness of the financing mechanism.
Author: Publisher: ISBN: Category : Languages : en Pages : 0
Book Description
Flexible Financial Credit Agreements is a broad term used to describe a suite of solar products with innovative features not currently offered in traditional solar financing programs. This brief focuses on the Tariff On-Bill Financing (TOBF) model, in which utilities use a tariff to enable customers to pay back the cost of a solar panel without credit or income level conditions.
Author: Albert Thumann Publisher: ISBN: Category : Business & Economics Languages : en Pages : 480
Book Description
This practical application reference provides a resource for those seeking to utilize the innovative methods now available to finance energy projects. The full scope of current project financing practices are fully examined and assessed, including coverage of energy service performance contracting, rate of return analysis, measurement and verification of energy savings, and more. Readers will receive the facts they need to assess a project's payback in advance, anticipate and avoid potential risks and/or hidden costs, and assure that your energy project is an overall economic success. Other topics covered include financing international projects and ESCO’s (Energy Service Company’s) financing.
Author: Vivien Foster Publisher: World Bank Publications ISBN: Category : Infrastructure (Economics) Languages : en Pages : 41
Book Description
Given the relatively small segment of the population that faces genuine affordability problems in Latin America, there appears to be a promising case for using targeted subsidies to reconcile the cost recovery objective with social protection concerns. Social tariff schemes of various kinds are already widespread in Latin America, but they suffer from a number of design flaws. Increasing block tariff (IBT) structures are the most prevalent form of social tariffs in the region. These are likely to be more successful in the electricity sector than in the water sector because the correlation between consumption and income is much stronger in the case of electricity than water. Moreover, IBT structures in electricity tend to be much better designed than in the case of water, with lower fixed charges, lower subsistence blocks, and steeper gradients. A number of more sophisticated social tariff schemes are also being applied that combine consumption criteria with some form of socioeconomic screening. These are generally found to perform better than IBTs, although they also present significant room for improvement.
Author: M. Shirley Publisher: Elsevier ISBN: 0080913458 Category : Science Languages : en Pages : 399
Book Description
One billion people in the world lack safe drinking water and almost 2 billion lack adequate sanitation services. As a result millions suffer and die every year from water and sanitation related diseases. Poor management and inefficient investment are often responsible for this situation, and countless past attempts at reform have accomplished little. Recently some developing countries have tried to reverse years of mismanagement of their water and sewerage systems by auctioning contracts to private operators. Why do countries that have tolerated mismanagement for decades develop a thirst for efficiency? What are the results of their efforts to change? What determines success or failure? This book fills a gap in the literature by systematically answering these important questions. It does so by analyzing reforms in six developing country capitals -- Buenos Aires, Argentina; Lima, Peru; Mexico City, Mexico; Santiago, Chile; Abidjan, Cote d'Ivoire; and Conakry, Guinea - and the United States in the 19th century.It not only assesses economic factors, but also explores the roles of laws, politics and norms. It provides an economic theory of water that encompasses institutional, political and economic aspects of reform.
Author: Robert P. Taylor Publisher: World Bank Publications ISBN: 0821373056 Category : Science Languages : en Pages : 306
Book Description
While energy efficiency projects could partly meet new energy demand more cheaply than new supplies, weak economic institutions in developing and transitional economies impede developing and financing energy efficiency retrofits. This book analyzes these difficulties, suggests a 3-part model for projectizing and financing energy efficiency retrofits, and presents thirteen case studies to illustrate the issues and principles involved.
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Author: Jocelyn Durkay
Author: Albert Thumann
Author: Vivien Foster
Author: M. Shirley
Author: United States. Congress. Senate. Committee on Finance
Author: United States. Congress. Senate. Committee on Finance
Author: Robert P. Taylor