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  • 1
    Publication Date: 2012-11-01
    Print ISSN: 0961-9534
    Electronic ISSN: 1873-2909
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Process Engineering, Biotechnology, Nutrition Technology
    Published by Elsevier
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  • 2
    Publication Date: 2020-12-30
    Description: In order to calculate the financial return of energy efficiency measures, a cost–benefit analysis (CBA) is a proven tool for investors. Generally, however, most CBAs for investors have a narrow focus, which is—simply speaking—on investment costs compared with energy cost savings over the life span of the investment. This only provides part of the full picture. Ideally, a comprehensive or extended CBA would take additional benefits as well as additional costs into account. The objective of this paper is to reflect upon integrating into a CBA two important cost components: transaction costs and energy efficiency services—and how they interact. Even though this concept has not been carried out to the knowledge of the authors, we even go a step further to try to apply this idea. In so doing, we carried out a meta-analysis on relevant literature and existing data and interviewed a limited number of energy experts with comprehensive experience in carrying out energy services. Even though data is hardly available, we succeeded in constructing three real-world cases and applied an extended CBA making use of information gathered on transaction costs and energy services costs. We were able to show that, despite these additional cost components, the energy efficiency measures are economically viable. Quantitative data was not available on how energy services reduce transaction costs; more information on this aspect could render our results even more positive. Even though empirical and conceptual research must intensify efforts to design an even more comprehensive CBA, these first-of-its-kind findings can counterargue those that believe energy efficiency is not worth it (in monetary terms) due to transaction costs or energy services costs. In fact, this is good news for energy efficiency and for those that seek to make use of our findings to argue in favor of taking up energy efficiency investments in businesses.
    Electronic ISSN: 1996-1073
    Topics: Energy, Environment Protection, Nuclear Power Engineering
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  • 3
    Publication Date: 2021-08-06
    Description: In order to calculate the financial return of energy efficiency measures, a cost-benefit analysis (CBA) is a proven tool for investors. Generally, however, most CBAs for investors have a narrow focus, which is - simply speaking - on investment costs compared with energy cost savings over the life span of the investment. This only provides part of the full picture. Ideally, a comprehensive or extended CBA would take additional benefits as well as additional costs into account. The objective of this paper is to reflect upon integrating into a CBA two important cost components: transaction costs and energy efficiency services - and how they interact. Even though this concept has not been carried out to the knowledge of the authors, we even go a step further to try to apply this idea. In so doing, we carried out a meta-analysis on relevant literature and existing data and interviewed a limited number of energy experts with comprehensive experience in carrying out energy services. Even though data is hardly available, we succeeded in constructing three real-world cases and applied an extended CBA making use of information gathered on transaction costs and energy services costs. We were able to show that, despite these additional cost components, the energy efficiency measures are economically viable. Quantitative data was not available on how energy services reduce transaction costs; more information on this aspect could render our results even more positive. Even though empirical and conceptual research must intensify efforts to design an even more comprehensive CBA, these first-of-its-kind findings can counterargue those that believe energy efficiency is not worth it (in monetary terms) due to transaction costs or energy services costs. In fact, this is good news for energy efficiency and for those that seek to make use of our findings to argue in favor of taking up energy efficiency investments in businesses.
    Keywords: ddc:330
    Repository Name: Wuppertal Institut für Klima, Umwelt, Energie
    Language: English
    Type: article , doc-type:article
    Format: application/pdf
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  • 4
    Publication Date: 2022-02-18
    Description: Eine Kosten-Nutzen-Analyse ist ein bewährtes Mittel, um die Rentabilität einer Energieeffizienzmaßnahme zu bewerten: Die Investitionskosten werden mit den eingesparten Energiekosten verglichen. Investitionsentscheidungen für Energieeffizienzmaßnahmen erfolgen allerdings häufig nicht nach einer reinen Erwägung der direkten Kosten und Nutzen. Gründe hierfür sind unter anderem "versteckte" Kosten und Risiken (z. B. Kosten für die Beschaffung von Informationen, Unsicherheiten über zukünftige Energiepreise und Einsparungen), aber auch nicht-monetäre Hemmnisse, die bei Entscheidungen eine Rolle spielen (z. B. beschränkte Rationalität, Präferenzen, Zeitverfügbarkeit). Vor diesem Hintergrund verfolgt der Bericht das Ziel, ein besseres Verständnis der Kosten-Nutzen-Erwägungen von Investoren und deren Entscheidungswirklichkeit zu erlangen. Die Untersuchung zeigt, dass Energieeffizienzdienstleistungen (EEDL) generell die versteckten Kosten - Transaktionskosten - reduzieren können. Das setzt aber voraus, dass EEDL sachgerecht durchgeführt werden. Transaktionskosten werden allerdings im Zusammenhang mit Energieeffizienzmaßnahmen von den Akteuren kaum wahrgenommen und entsprechend nicht quantifiziert. Des Weiteren zeigt sich, dass insbesondere bei Unternehmen die EEDL-Kosten für bestimmte Maßnahmen hoch sein können. Doch werden gerade in diesen Fällen die Transaktionskosten reduziert. Grundsätzlich erscheinen kostenaufwendigere EEDL, wie umfassendere Vor-Ort-Beratungen, im Gegensatz zu den preiswerteren Vor-Ort-Checks besser geeignet, um Transaktionskosten zu reduzieren.
    Keywords: ddc:330
    Repository Name: Wuppertal Institut für Klima, Umwelt, Energie
    Language: German
    Type: report , doc-type:report
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  • 5
    Publication Date: 2022-02-18
    Keywords: ddc:600
    Repository Name: Wuppertal Institut für Klima, Umwelt, Energie
    Language: German
    Type: report , doc-type:report
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  • 6
    Publication Date: 2022-02-18
    Description: Ex-ante policy evaluation requires a detailed understanding of how the subjects addressed by the policy react to its implementation. In the context of energy efficiency, policy measures typically aim at influencing investment decisions towards more efficient options. As has been discussed widely in the context of the "energy efficiency gap", investments in energy efficiency improvements are frequently not conducted even though they seem cost-effective from a simple cost-benefit perspective, where transaction costs have been identified as one important barrier. While transaction costs have been discussed widely from a conceptional perspective, empirical studies quantifying transaction costs and measures to reduce them are rare. This paper presents approaches, results and insights from a recently completed research project funded by the German Federal Energy Efficiency Center (BfEE), addressing transaction costs in various energy efficiency measures and the role of energy efficiency services to overcome the barrier. We analyse a set of 11 energy efficiency investments covering private households, public institutions and the industry sector. We gather data on direct investment costs and energy cost savings and provide a detailed analysis of the various barriers and transaction costs associated with the implementation. We then analyse the costs of existing energy efficiency services using data provided by the BfEE. We compare the different cost elements and analyze the potential of energy efficiency services to reduce transaction costs. We find that the role of transaction costs differs substantially between households, public institutions and companies and that the impact of energy efficiency services on transaction costs needs to be evaluated using different methodological approaches. We conclude that while data availability on disaggregated transaction costs is a major challenge, energy services can reduce transaction costs considerably.
    Keywords: ddc:330
    Repository Name: Wuppertal Institut für Klima, Umwelt, Energie
    Language: English
    Type: conferenceobject , doc-type:conferenceObject
    Format: application/pdf
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