Research On The Financing And Risk Of Energy Performance Contracting Project

The energy consumption of buildingsin China has been rapidly increasing in theselast few years, as the area of the existing buildings in China is very huge, in which thepercentage of energy-efficient buildings is so small. Besides, there’re a lot of non-energy-efficient buildings completed in each year. Since energy-saving has becomeglobal trend, the energy efficient transformation of construction makes an importanttask in this field.As a new mechanism of energy-saving transformation, energy performancecontracting (EPC) has been adopted in a growing number of companies and projectsbecause of its market-oriented and win-win feature. However, some trouble of financingand risk management is met in the operation progress, which attracts some scholars’attention.This study starts with introducing the theory of EPC. After investigating andanalyzing the application of this mechanism, this study will conduct research on twoaspects of project financing and risk management of EPC from the perspective ofenergy service companies, which specifically includes:(1)Summarizing the theory of energy performance contracting, including itscharacteristic, different operation model, the role of each participant, and the operationprocess of EPC projects.(2)Introducing the course of development of the energy service industry in China,conducting a survey and analysis of the current application of EPCdomestically.Afterwards, learn from the experience of the development of EPC inAmerica and summarize the obstacle to the development of EPC in China.(3)Surveying the status quo of financing of energy service companies, achievingthe financing obstacles encountered by the energy service companies by the method ofliterature research and interviews with experts, researching financing method such asbank loan, venture capital, finance lease and trading platform, summarizing theirfeatures, advantage and disadvantage, and proposing applicable financing method forenergy service companies in each stage. (4)Identifying22risk factors in the operation process of energy performancecontracting project, researching the probability and consequence of the risk factorsthrough the method of expert scoring, proposing different response measures for riskfactors on the basis of classification and analysis of the risk factors.