『Abstract
The implementation of an energy service company (ESCO) project
in developing countries may result not only in reduced energy
cost but also in considerable environmental benefits, including
the reduction of CO2 emissions, which can
be assessed in an economic manner under the Clean Development
Mechanism (CDM) scheme. In this way, the economic and environmental
benefits of energy conservation activities can be enjoyed by both
the investor and the end-user, which can reduce the investment
risk and realize a rational profit allocation. This study presents
a numerical analysis of the introduction of distributed energy
resources (DER) into a Chinese urban area. An optimization model
is developed to determine the energy system combination under
the constraints on the electrical and thermal balances and equipment
availability. According to the simulation results, the introduction
of DER systems possesses considerable potential to reduce CO2 emissions, especially when considering that
the economic profit of the CO2 credit will
increase the incentive to adopt DER systems to an even greater
extent. Furthermore, by sharing the energy cost savings with the
investors under an ESCO framework, the investment risk can be
further reduced, and the conditions required for the project to
qualify for CDM can be relaxed.
Keywords: ESCO and CDM; Profit allocation; Distributed energy
resource』
1. Introduction
2. Necessity and feasibility to reform the conventional ESCO and
CDM frameworks
2.1. Necessity to reform the conventional ESCO framework
2.2. Necessity to reform the conventional CDM framework
2.3. Synergy and similarity of the ESCO and CDM frameworks
3. Methodologies
3.1. The concept of a combination between ESCOs and CDMs
3.2. Modeling of a distributed energy system from an international
perspective
3.3. Analytical model for introducing distributed energy systems
3.3.1. Main constraints
3.3.2. Objective functions
3.3.3. Main evaluation criteria
4. Numerical study
4.1. Assumptions of the research object
4.2. Scenario description
5. Results and discussions
5.1. Optimal adoption results
5.2. Influence of domestic and international factors
5.2.1. Influence of domestic policy: electricity buy-back
5.2.2. Influence of the international market: CER price
5.3. Measures for profit allocation
6. Conclusions
Acknowledgments
References