Energy efficiency financing option papers for Georgia : ენერგოეფექტურობის დაფინანსება ბიულეტენების საქართველო (Georgiano)

Energy efficiency (EE) is critical for Georgia to sustain its economic growth while meeting its global commitments for climate change mitigation and environmental sustainability. Georgia has a high dependence on imports of natural gas and electricity ...  Exibir mais + Energy efficiency (EE) is critical for Georgia to sustain its economic growth while meeting its global commitments for climate change mitigation and environmental sustainability. Georgia has a high dependence on imports of natural gas and electricity (EEC 2014), particularly in the winter heating season. At current trends, continued growth in electricity demand is projected to deplete the power reserve margins within the next five years. The primary objective of this project is to identify options that can address the barriers to financing and help scale-up EE implementation in public buildings in Georgia. This report is arranged as follows: after introduction, Section 2 provides a summary of the country context, including the legislative and regulatory framework, energy consumption characteristics of central government buildings, and estimates of potential for energy savings and investments needed. Section 3 summarizes the barriers to financing EE in the public sector in Georgia, including legal and regulatory barriers, lack of access to commercial financing, institutional barriers, and limited implementation capacity. Section 4 provides information on international experience with financing public sector EE projects. It includes a review of six financing mechanisms: budget financing, EE revolving funds, dedicated EE credit lines, risk-sharing programs, public or super Energy Service Company (ESCO), and commercial financing with ESCOs and performance contracting. It also presents a comparative assessment of the key characteristics of these financing options. Section 5 identifies the three options considered appropriate for implementation in Georgia — budget financing, Energy efficiency revolving fund (EERFs), and public or super ESCO—and provides detailed information on each. It also presents information on the potential role of international financial institutions in providing complementary financial and Technical Assistance (TA). Section 6 summarizes the advantages and limitations of the three financing options and provides guidance on moving forward with the recommended option, the EE revolving fund. A road map for implementing the EERF is included.  Exibir menos -

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