Global S&T Development Trend Analysis Platform of Resources and Environment
DOI | 10.1016/j.enpol.2018.12.033 |
Worth the risk? An evaluation of alternative finance mechanisms for residential retrofit | |
Brown, Donal1,3; Sorrell, Steve1; Kivimaa, Paula1,2 | |
2019-05-01 | |
发表期刊 | ENERGY POLICY
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ISSN | 0301-4215 |
EISSN | 1873-6777 |
出版年 | 2019 |
卷号 | 128页码:418-430 |
文章类型 | Article |
语种 | 英语 |
国家 | England; Finland |
英文摘要 | Improving energy efficiency, de-carbonising heating and cooling, and increasing renewable microgeneration in existing residential buildings, is crucial for meeting social and climate policy objectives. This paper explores the challenges of financing this 'retrofit' activity. First, it develops a typology of finance mechanisms for residential retrofit highlighting their key design features, including: the source of capital; the financial instrument(s); the project performance requirements; the point of sale; the nature of the security and underwriting the repayment channel and customer journey. Combining information from interviews and documentary sources, the paper explores how these design features influence the success of the finance mechanisms in different contexts. First, it is shown that a low cost of capital for retrofit finance is critical to the economic viability of whole-house retrofits. Second, by funding non-energy measures such as general improvement works, finance mechanisms can enable broader sources of value that are more highly prized by households. Thirdly, mechanisms that reduce complexity by simplifying the customer journey are likely to achieve much higher levels of uptake. Most importantly we discuss how finance alone is unlikely to be a driver of demand for whole-house retrofit, and so instead should be viewed as a necessary component of a much broader retrofit strategy. |
英文关键词 | Energy efficiency Finance Retrofit Split incentives Domestic buildings Cost of capital |
领域 | 气候变化 |
收录类别 | SCI-E ; SSCI |
WOS记录号 | WOS:000463688800040 |
WOS关键词 | ENERGY EFFICIENCY POLICY ; RENEWABLE ENERGY ; FUEL POVERTY ; INVESTMENT ; BARRIERS ; SCHEMES ; PARTICIPATION ; OBLIGATIONS ; BUILDINGS ; INSIGHTS |
WOS类目 | Economics ; Energy & Fuels ; Environmental Sciences ; Environmental Studies |
WOS研究方向 | Business & Economics ; Energy & Fuels ; Environmental Sciences & Ecology |
引用统计 | |
文献类型 | 期刊论文 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/182746 |
专题 | 气候变化 |
作者单位 | 1.Univ Sussex, Ctr Innovat & Energy Demand, Sussex Energy Grp, Sci Policy Res Unit, Jubilee Bldg, Brighton BN1 9SL, E Sussex, England; 2.Finnish Environm Inst SYKE, Mechelininkatu 34a, Helsinki, Finland; 3.Univ Leeds, Sch Earth & Environm, Leeds LS2 9JT, W Yorkshire, England |
推荐引用方式 GB/T 7714 | Brown, Donal,Sorrell, Steve,Kivimaa, Paula. Worth the risk? An evaluation of alternative finance mechanisms for residential retrofit[J]. ENERGY POLICY,2019,128:418-430. |
APA | Brown, Donal,Sorrell, Steve,&Kivimaa, Paula.(2019).Worth the risk? An evaluation of alternative finance mechanisms for residential retrofit.ENERGY POLICY,128,418-430. |
MLA | Brown, Donal,et al."Worth the risk? An evaluation of alternative finance mechanisms for residential retrofit".ENERGY POLICY 128(2019):418-430. |
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