A Study On Credit Evaluation System Of Energy Service Companies For Financing

Nowadays, financing obstacle is the main issue that restricts the rapiddevelopment of our ESCOs. Because major factors cause this problem ofESCOs are the lack of their credits, the lack of their credit evaluation system,unknown project risk and uncertain quantity of the projects’ energy saving,inapplicable traditional financing model, under the condition of incompletecredit evaluation system on different industries(including energy conservationservice industry) and serious problem of information asymmetry between theinvestors participate in energy conservation service industry and ESCOs, aneffective way to alleviate financing issue of ESCOs is to establish their creditevaluation system.This paper founds a credit evaluation system of ESCOs that includessome special ESCOs’ credit indexes (such as management ability of EPCprojects, performance credit of energy management contracts) from fouraspects (basic quality, development ability, social responsibility andperformance credit and financial situation) according to existing creditevaluation systems of our enterprises. This paper has an effective recognition of key factors that have great influences on ESCOs’ credits through the weightresults of credit indexes calculated by analytic hierarchy process (AHP forshort). This paper explained the relative scientificalness of founded creditevaluation system compared with existing systems of banks through thecontrast of the result of the case of listed ESCO’s credit evaluation using AHPand fuzzy comprehensive evaluation model and the existing one of our banks.This research is hoped to provide some preliminary references for helping ourinvestors to choose good ESCOs and promoting our credit evaluationinstitutions to assess our ESCOs’ credits effectively.