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- Mossberg, Johanna, et al.
(författare)
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Bridging barriers for multi-party investments in energy efficiency – A real options based approach for common utility systems design and evaluation
- 2014
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Ingår i: Proceedings of ECEEE industrial summer study, 2014. - 2001-7987 .- 2001-7979. ; , s. 411-422
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Konferensbidrag (refereegranskat)abstract
- Total Site Analysis (TSA) is a tool for quantifying energy savings targets in large industrial process clusters. Thereafter retrofit design tools can be used to identify efficient solutions in which the different process sites exchange excess energy with each other through the site utility system, thus reducing the overall need for external fuels/energy. Compared to energy efficiency investments identified for single companies, similar investments identified for clusters hold an inherent complexity; they assume joint investments and multi-party collaboration, which often constitute a barrier for implementation. Real Options Analysis (ROA) is a tool that can be used for helping managers to evaluate different investment options. However, previous research almost exclusively concerns single companies/actors and not the increased complexity of joint investments. This paper presents a novel approach, showing how ROA can be applied not only to handle uncertainties regarding market development but also reduce complexity associated with multiparty cooperation in a joint energy efficiency investments based on TSA. The approachis applied on a case study of a joint energy efficiency retrofit investment in a Swedish chemical cluster. Using ROA, the case study shows how the identified solution can divided into “investment packages” distributed over time, allowing for an initial investment by only two actors and permitting for an evaluation of both the cooperation and the market development before expanding the investment and the number of actors involved. Further, an economic assessment of the project is presented together with an analysis of the cost/ benefit of gradually expanding the investment.
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- Sandoff, Anders, 1965, et al.
(författare)
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Carbon mitigation strategies in the heat and power sector and the efficiency of the European Union emission trading scheme (EU ETS)
- 2011
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Ingår i: The 13th annual SNEE conference. European Integration in Swedish Economic Research. May 17-20, 2011, Mölle, Sweden.
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)abstract
- The European Union committed itself to reduce greenhouse gas emissions with 20% below 1990-levels by 2020, and the EU ETS is the main instrument to reach this goal. Emission trading reallocates emission reductions among installations in a long-run cost-minimizing manner, while offering flexibility to companies to develop a carbon mitigation strategy that suits their individual needs. The power sector is a key industry for carbon mitigation, generating roughly 70% of CO2 emissions regulated under the scheme. In the third trading period, power companies face a stiffened allowance regime and will no longer receive any free allocation. This paper examines the carbon mitigation strategies of Swedish heat and power companies, facing zero allocation already in the second trading period. Data from these companies have been singled out from two surveys conducted in 2006 and 2009 investigating the Swedish Trading Sectors participants‘ climate strategies under the EU ETS. Three areas are of interest to draw conclusions on the efficiency of the scheme: the organization of allowance management, the use of compensatory measures and corporate carbon mitigation strategies. It is concluded that although there are developments to be seen in both emission reductions and allowance management, there are few indications that this is a result of a stiffer allocation regime. Surprisingly, the biggest change observed lays in the increased efficiency handling the system. It can be concluded that the EU ETS has a number of unintended effects, mostly due to the fact that the theoretical assumptions of the model do not stand up to the conditions of management. Companies take advantage of the operating flexibility provided by the scheme rather than of its potential for long-run cost reallocation. Based on the results from the Swedish sample, it can be questioned whether the stiffened allowance regime will have any significant effect on carbon mitigation strategies of energy companies in the rest of Europe.
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- Sandoff, Anders, 1965, et al.
(författare)
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Does EU ETS lead to emission reductions through trade? The case of the Swedish emissions trading sector participants
- 2009
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Ingår i: Energy Policy. - : Elsevier BV. - 0301-4215. ; 37:10, s. 3967-3977
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Tidskriftsartikel (refereegranskat)abstract
- The first trading period of the European Emissions Trading Scheme (EU ETS) has recently come to an end. The experiences of the actors in the trading sector will be of great importance in evaluating the aim and direction of this “Grand Policy Experiment”. This paper gives an account of the attitudes and actions of the companies included in the Swedish emissions trading sector after about 15 months of experience with the system. The data are based on a study commissioned by the Swedish Environmental Protection Agency, and is a comprehensive survey that encompasses all companies operating installations included in the Swedish Emission Trading Registry. However, the results point in a somewhat disquieting direction. Although the Swedish companies have shown significant interest in reducing emissions, this survey indicates that this is done without close attention to the pricing mechanism of the market-based instruments. If this praxis is widespread within the European trading sector, it can have a serious negative effect on the efficiency of the system.
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- Sandoff, Anders, 1965, et al.
(författare)
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Dominant logics for energy efficiency in the public housing sector. -– What are the prospects for moving towards ecological modernization?
- 2013
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Ingår i: 2013 Nordic Environmental Social Sciences conference, Copenhagen, 11th-13th June.
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Konferensbidrag (refereegranskat)abstract
- This paper provides insights into managerial approaches of public housing companies relating to urban energy efficiency investments in the Swedish Million Homes Program. The aim is to investigate the role of energy efficiency for the long-term orientation of public housing companies. There is a large need to refurbish the Swedish Million Homes Program and political ambitions for energy efficiency in urban housing are high. By 2050, energy use in the existing building stock shall be reduced by 50% (SEA, 2010). This development should occur on commercial grounds (SFS 2010:879) without subsidies or mandatory legislation. Although public housing companies consider energy efficiency investments desirable, these are frequently postponed due to scant profitability, resulting in a ‘wait and see’ strategy. This research identified some public housing companies that are determined to take a comprehensive approach to energy efficiency and ‘act now’. By way of case studies, these companies’ motives and characteristic features are contrasted with those of companies displaying a conservative approach. The comparison of companies conducting far-reaching energy efficiency investments and companies with modest investments shows differences in their motives and approaches to social responsibility. The former companies have an integrated view of the value of a residential area, embracing a triple bottom line perspective (Elkington, 1997), whereas the latter companies’ approach is fragmented and focuses on the economic performance of the company. Conclusions are drawn on the organizational consequences of the divergent managerial approaches, the prospects for improving urban energy efficiency and the societal implications of the different practices.
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