Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/130219
Authors: 
Stede, Jan
Year of Publication: 
2016
Series/Report no.: 
DIW Discussion Papers 1565
Abstract: 
The Italian white certificate scheme is the main national policy instrument to incentivise energy efficiency of the industrial sector. The mechanism sets binding energy-saving targets on electricity and gas distributors with at least 50,000 clients and includes a voluntary opt-in model for participation from other parties. This paper investigates and assesses the elements of the scheme that help overcome several barriers to deliver industrial energy efficiency. Results from a survey conducted among leading experts indicate that the Italian system provides a strong financial incentive to energy efficiency investments, covering a significant share of investment costs and thus reducing payback time. Moreover, the scheme fosters the development of energy service companies (ESCOs), which are key to developing, installing and arranging finance for projects on the ground. In conjunction with other policies, the mechanism also raises awareness of energy efficiency investment opportunities, thus helping overcome the market failure of insufficient information. Core challenges remain, including tackling regulatory uncertainty and improving access to finance.
Subjects: 
white certificates
energy efficiency obligations
financial incentives
policy evaluation
ESCOs
industrial energy savings
market barriers
JEL: 
D22
D82
L14
L97
Q48
Document Type: 
Working Paper

Files in This Item:
File
Size
638.06 kB





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.