ECONOMIC EFFICIENCY - DETERMINED ELEMENT IN INVESTMENT DECISION

Directory of Open Access Journals (Sweden)

Claudia MUNGIU-PUPAZAN

2010-03-01

Full Text Available Economic activity of a country are conducted by industry, under branches and production sectors, each with special characteristics and conditions of work, which, of course, put their imprint on the organization manner of the production process By an analysis of the concept of economic efficiency of investment is found that this is an amount of qualitative factors, which gives the latter a complex character, aimed to improving activity in the area where are taking place to the putting into service of such investment, which can be modernization, bringing new equipments, reconstruction and development. Study the economic efficiency of investment involves, as a base, an analysis of causal factors that determine the decision in the afferent medium of risk. Corresponding to peculiarities of the production process, it requires a proper methodology of assessment the economic efficiency of investment, with specification to maintain the general principles for calculating the economic efficiency indicators and specific indicators come only to complete the picture of indicators of general, basic and supplementary already calculated in order to provide additional clues, afferent to branch, under-branch or sector of activity.

Investing in threatened species conservation: does corruption outweigh purchasing power?

Science.gov (United States)

Garnett, Stephen T; Joseph, Liana N; Watson, James E M; Zander, Kerstin K

2011-01-01

In many sectors, freedom in capital flow has allowed optimization of investment returns through choosing sites that provide the best value for money. These returns, however, can be compromised in countries where corruption is prevalent. We assessed where the best value for money might be obtained for investment in threatened species that occur at a single site, when taking into account corruption. We found that the influence of corruption on potential investment decisions was outweighed by the likely value for money in terms of pricing parity. Nevertheless global conservation is likely to get best returns in terms of threatened species security by investing in "honest" countries than in corrupt ones, particularly those with a high cost of living.

Evaluating the effectiveness of conservation and development investments in reducing deforestation and fires in Ankeniheny-Zahemena Corridor, Madagascar

Science.gov (United States)

Jones, Kelly W.; Hewson, Jennifer; Rasolohery, Andriambolantsoa; Rambeloson, Andoniaina; Andrianjohaninarivo, Tokihenintsoa; Harvey, Celia A.

2017-01-01

Forest conservation and REDD+ projects invest millions of dollars each year to reduce local communities’ dependence on forests and prevent forest loss and degradation. However, to date, there is limited evidence on whether these investments are effective at delivering conservation outcomes. We explored the relationships between 600+ small-scale conservation and development investments that occurred from 2007 to 2014 and conservation outcomes (deforestation rates and fire detections) within Ankeniheny-Zahamena Corridor in Madagascar using linear fixed effects panel regressions. We derived annual changes in forest cover and fires from satellite remote sensing. We found a statistically significant correlation between presence of any investment and reduced deforestation rates in 2010 and 2011 –years with accelerated deforestation elsewhere in the study area. This result indicated investments abated deforestation rates during times of political instability and lack of governance following a 2009 coup in Madagascar. We also found a statistically significant relationship between presence of any investment and reduced fire detections in the study area, suggesting investments had an impact on reducing burning of forest for agriculture. For both outcomes (i.e., deforestation rates and fire detections), we found that more dollars invested led to greater conservation outcomes (i.e. fewer fires or less deforestation), particularly when funding was sustained for one to two years. Our findings suggest that conservation and development investments can reduce deforestation and fire incidence, but also highlight the many challenges and complexities in assessing relationships between investments and conservation outcomes in a dynamic landscape and a volatile political context. PMID:29267356

Evaluating the effectiveness of conservation and development investments in reducing deforestation and fires in Ankeniheny-Zahemena Corridor, Madagascar.

Science.gov (United States)

Tabor, Karyn; Jones, Kelly W; Hewson, Jennifer; Rasolohery, Andriambolantsoa; Rambeloson, Andoniaina; Andrianjohaninarivo, Tokihenintsoa; Harvey, Celia A

2017-01-01

Forest conservation and REDD+ projects invest millions of dollars each year to reduce local communities' dependence on forests and prevent forest loss and degradation. However, to date, there is limited evidence on whether these investments are effective at delivering conservation outcomes. We explored the relationships between 600+ small-scale conservation and development investments that occurred from 2007 to 2014 and conservation outcomes (deforestation rates and fire detections) within Ankeniheny-Zahamena Corridor in Madagascar using linear fixed effects panel regressions. We derived annual changes in forest cover and fires from satellite remote sensing. We found a statistically significant correlation between presence of any investment and reduced deforestation rates in 2010 and 2011 -years with accelerated deforestation elsewhere in the study area. This result indicated investments abated deforestation rates during times of political instability and lack of governance following a 2009 coup in Madagascar. We also found a statistically significant relationship between presence of any investment and reduced fire detections in the study area, suggesting investments had an impact on reducing burning of forest for agriculture. For both outcomes (i.e., deforestation rates and fire detections), we found that more dollars invested led to greater conservation outcomes (i.e. fewer fires or less deforestation), particularly when funding was sustained for one to two years. Our findings suggest that conservation and development investments can reduce deforestation and fire incidence, but also highlight the many challenges and complexities in assessing relationships between investments and conservation outcomes in a dynamic landscape and a volatile political context.

Investing in Threatened Species Conservation: Does Corruption Outweigh Purchasing Power?

Science.gov (United States)

Garnett, Stephen T.; Joseph, Liana N.; Watson, James E. M.; Zander, Kerstin K.

2011-01-01

In many sectors, freedom in capital flow has allowed optimization of investment returns through choosing sites that provide the best value for money. These returns, however, can be compromised in countries where corruption is prevalent. We assessed where the best value for money might be obtained for investment in threatened species that occur at a single site, when taking into account corruption. We found that the influence of corruption on potential investment decisions was outweighed by the likely value for money in terms of pricing parity. Nevertheless global conservation is likely to get best returns in terms of threatened species security by investing in “honest” countries than in corrupt ones, particularly those with a high cost of living. PMID:21818383

Optimal investment for enhancing social concern about biodiversity conservation: a dynamic approach.

Science.gov (United States)

Lee, Joung Hun; Iwasa, Yoh

2012-11-01

To maintain biodiversity conservation areas, we need to invest in activities, such as monitoring the condition of the ecosystem, preventing illegal exploitation, and removing harmful alien species. These require a constant supply of resources, the level of which is determined by the concern of the society about biodiversity conservation. In this paper, we study the optimal fraction of the resources to invest in activities for enhancing the social concern y(t) by environmental education, museum displays, publications, and media exposure. We search for the strategy that maximizes the time-integral of the quality of the conservation area x(t) with temporal discounting. Analyses based on dynamic programming and Pontryagin's maximum principle show that the optimal control consists of two phases: (1) in the first phase, the social concern level approaches to the final optimal value y(∗), (2) in the second phase, resources are allocated to both activities, and the social concern level is kept constant y(t) = y(∗). If the social concern starts from a low initial level, the optimal path includes a period in which the quality of the conservation area declines temporarily, because all the resources are invested to enhance the social concern. When the support rate increases with the quality of the conservation area itself x(t) as well as with the level of social concern y(t), both variables may increase simultaneously in the second phase. We discuss the implication of the results to good management of biodiversity conservation areas. 2012 Elsevier Inc. All rights reserved

Investment utilisation, adjustment costs, and technical efficiency in Danish pig farms

DEFF Research Database (Denmark)

Olsen, Jakob Vesterlund; Henningsen, Arne

In this paper, we present a theoretical model for adjustment costs and investment utilisation that illustrates their causes and types and shows in which phases of an investment they occur. Furthermore, we develop an empirical framework for analysing the size and the timing of adjustment costs...... that investments have a negative effect on farm efficiency in the year of the investment and the year after accruing from adjustment costs. There is a large positive effect on efficiency two and three years after the investment. The farmer’s age and the farm size significantly influence technical efficiency......, as well as the effect of investments on adjustment costs and investment utilisation. These results are robust to different ways of measuring capital....

Investing in efficient industrial boiler systems in China and Vietnam

International Nuclear Information System (INIS)

Yang Ming; Dixon, Robert K.

2012-01-01

Energy efficiency in industrial boiler steam systems can be very low due to old technologies, improper design and non-optimal operation of the steam systems. Solutions include efficiency assessments and investments in steam system optimizations, education and training for operators of the systems. This paper presents case studies on assessing and investing in boiler steam systems in China and Vietnam. Methodologies and approaches for data collection and analyses were designed specifically for each of the two countries. This paper concludes: (1) investing in energy efficiency in industrial boiler steam system in China and Vietnam are cost effective; (2) government should not sent national energy efficiency standards lower than that of energy companies or energy equipment manufactures. - Highlights: ► GEF successfully catalyzed investment in industrial energy efficiency boilers in China in 1990s. ► With about $100 million of investment by the GEF/World Bank/Chinese government, the project will mitigate 40 million tons of CO 2 by 2019. ► This generated lowest unit cost of carbon reduction in the world: about $2.5 per ton of CO 2 mitigation. ► Investing in energy efficiency in industrial boiler steam system today in Vietnam will be the same cost effective as in China: $2.1 per ton of CO 2 mitigation.

Protecting biodiversity when money matters: maximizing return on investment.

Directory of Open Access Journals (Sweden)

Emma C Underwood

Full Text Available BACKGROUND: Conventional wisdom identifies biodiversity hotspots as priorities for conservation investment because they capture dense concentrations of species. However, density of species does not necessarily imply conservation 'efficiency'. Here we explicitly consider conservation efficiency in terms of species protected per dollar invested. METHODOLOGY/PRINCIPAL FINDINGS: We apply a dynamic return on investment approach to a global biome and compare it with three alternate priority setting approaches and a random allocation of funding. After twenty years of acquiring habitat, the return on investment approach protects between 32% and 69% more species compared to the other priority setting approaches. To correct for potential inefficiencies of protecting the same species multiple times we account for the complementarity of species, protecting up to three times more distinct vertebrate species than alternate approaches. CONCLUSIONS/SIGNIFICANCE: Incorporating costs in a return on investment framework expands priorities to include areas not traditionally highlighted as priorities based on conventional irreplaceability and vulnerability approaches.

Financial Reporting Quality, Free Cash Flow, and Investment Efficiency

Directory of Open Access Journals (Sweden)

Wang Fusheng

2015-01-01

Full Text Available This paper based on the perspective of firm’s agency conflicts to examine the relationship between financial reporting quality and investment efficiency and to analyze the interaction effect between financial reporting and free cash flow on investment efficiency. We use 3,726 samples of Chinese listed firms during the period 2008–2012 to test the empirical models and find that financial reporting quality is negatively associated with both underinvestment and overinvestment. Further, we find that financial reporting quality is more strongly associated with overinvestment for firms with large free cash flow, which suggests that financial reporting quality can reduce information asymmetry arising from agency conflicts between the managers and investors. This paper extends the field of application of financial reporting quality and investment efficiency in the emerging capital markets in the world. Moreover, this is the first study that analyzes the interaction effect between financial reporting quality and free cash flow on investment efficiency.

Factors influencing energy efficiency investments in existing Swedish residential buildings

International Nuclear Information System (INIS)

Nair, Gireesh; Gustavsson, Leif; Mahapatra, Krushna

2010-01-01

We used the data from a survey conducted in 2008 of 3,000 owners of detached houses to analyse the factors that influence the adoption of investment measures to improve the energy efficiency of their buildings. For the majority of Swedish homeowners, it was important to reduce their household energy use, and most of them undertook no-cost measures as compared to investment measures. Personal attributes such as income, education, age and contextual factors, including age of the house, thermal discomfort, past investment, and perceived energy cost, influence homeowners' preference for a particular type of energy efficiency measure. The implications for promoting the implementation of energy efficiency investment measures are discussed.

The benefit of the Dutch Energy Investment Allowance (EIA) for high-efficiency installations in industrial buildings; EIA maakt hr-apparatuur voor bedrijfsgebouwen voordelig

Energy Technology Data Exchange (ETDEWEB)

De Boer, A. [ed.

1998-02-01

Gas-fired condensing appliances for space heating of industrial buildings are more expensive than appliances that do not show a high efficiency. In many cases, however, it is still cheaper to invest in condensing appliances. Not only because of lower exploitation costs, but also because of the ISO-high-efficiency subsidy regulation (`ISO-hr`), the energy investment allowance (EIA) and the energy conservation fund. The technologies that are eligible for the EIA are listed in the `Energielijst` (energy list) for 1998

Simplified energy design economics: Principles of economics applied to energy conservation and solar energy investments in buildings

Science.gov (United States)

Marshall, H. E.; Ruegg, R. T.; Wilson, F.

1980-01-01

Economic analysis techniques for evaluating alternative energy conservation investments in buildings are presented. Life cycle cost, benefit cost, savings to investment, payback, and rate of return analyses are explained and illustrated. The procedure for discounting is described for a heat pump investment. Formulas, tables of discount factors, and detailed instructions are provided to give all information required to make economic evaluations of energy conserving building designs.

Selecting appropriate energy efficiency indicators for the Thai Energy Conservation Promotion Programme. Final report

Energy Technology Data Exchange (ETDEWEB)

Eichhammer, W.; Gruber, E.; Cremer, C.

2000-06-01

In 1992 the Thai Government passed the Energy Conservation Promotion (ECP) Act to improve energy efficiency in Thai industry and commerce. The Thai-German Energy Efficiency Promotion Project (ENEP) is supporting the Department of Energy Development and Promotion (DEDP) in its effort to implement the Energy Conservation Program for large buildings and designated factories. About 4000 buildings and factories under the Compulsory Program, have to report every 6 months their energy consumption data to DEDP. Every 3 years energy audits have to be conducted by registered energy consultants, to identify energy saving opportunities, to set saving targets and to recommend energy conservation measures. Investments in energy efficient technologies are subsidized from an Energy Conservation Fund. Data from the energy consumption reports and the energy audit reports are collected in DEDP's database for further processing. The database is structured according to the Thai Standard Industrial Classification. In order to exploit the wealth of information provided by the auditing procedure the objective of the present work carried out by the consultant FhG-ISI for DEDP/BERC on behalf of the German Gesellschaft fuer Technische Zusammenarbeit (GTZ) was to recommend an appropriate set of energy efficiency indicators. This indicator set should allow DEDP to extract from the energy consumption reports, energy audit reports and other sources, useful statistical information to monitor and improve energy efficiency in Thailand. (orig.)

Factors influencing energy efficiency investments in existing Swedish residential buildings

Energy Technology Data Exchange (ETDEWEB)

Nair, Gireesh; Gustavsson, Leif; Mahapatra, Krushna [Ecotechnology, Mid Sweden University, SE-83125 Oestersund (Sweden)

2010-06-15

We used the data from a survey conducted in 2008 of 3,000 owners of detached houses to analyse the factors that influence the adoption of investment measures to improve the energy efficiency of their buildings. For the majority of Swedish homeowners, it was important to reduce their household energy use, and most of them undertook no-cost measures as compared to investment measures. Personal attributes such as income, education, age and contextual factors, including age of the house, thermal discomfort, past investment, and perceived energy cost, influence homeowners' preference for a particular type of energy efficiency measure. The implications for promoting the implementation of energy efficiency investment measures are discussed. (author)

Money Matters: Mitigating risk to spark private investments in energy efficiency

Energy Technology Data Exchange (ETDEWEB)

NONE

2010-07-01

Scaling-up investment in energy efficiency is essential to achieving a sustainable energy future. Despite energy efficiency's recognised advantages as a bankable investment with immense climate change mitigation benefits, most of the energy efficiency potential remains untapped and the investment gap to achieve climate goals is tremendous. This report seeks to improve understanding as to why this is so, and what can be done about it.

Money Matters: Mitigating risk to spark private investments in energy efficiency

Energy Technology Data Exchange (ETDEWEB)

NONE

2010-07-01

Scaling-up investment in energy efficiency is essential to achieving a sustainable energy future. Despite energy efficiency's recognised advantages as a bankable investment with immense climate change mitigation benefits, most of the energy efficiency potential remains untapped and the investment gap to achieve climate goals is tremendous. This report seeks to improve understanding as to why this is so, and what can be done about it.

Aligning Utility Incentives with Investment in Energy Efficiency

Science.gov (United States)

Describes the financial effects on a utility of its spending on energy efficiency programs, how those effects could constitute barriers to more aggressive and sustained utility investment in energy efficiency.

How the world should invest in energy efficiency

International Nuclear Information System (INIS)

Farrell, D.; Remes, J.K.

2008-01-01

A program that targets cost-effective opportunities in energy productivity could halve the growth in energy demand, cut emissions of greenhouse gases, and generate attractive returns. Boosting energy efficiency will help stretch energy resources and slow down the increase in carbon emissions. It will also create opportunities for businesses and consumers to invest 170 billion USD a year from now until 2020, at a 17 percent average internal rate of return. However, a wide range of information gaps, market failures, and policy imperfections could slow the pace of investment. Public- and private-sector leaders can encourage higher energy productivity by setting efficiency standards for appliances and equipment, financing energy efficiency upgrades, raising corporate standards for energy efficiency, and collaborating with energy intermediaries

Conservation and energy efficiency plan 2006

International Nuclear Information System (INIS)

2005-11-01

This plan outlined details of Nova Scotia's proposed $5 million incremental investment in energy efficiency and conservation measures in 2006. The plan was developed through consultation with various Canadian utilities, customers and external stakeholders. A team of stakeholders identified lighting, pricing, partnerships and education as opportunities offering the greatest potential for results. Market research was conducted to identify market potential and the identification of barriers to customer adoption of programs as well as customer expectations regarding program implementation. It was anticipated that the plan will reduce electricity usage and result in significant savings for customers, as well as reducing greenhouse gas (GHG) emissions. The aim of the plan is to help build a conservation and energy efficiency culture in Nova Scotia and to bring Nova Scotia Power together with community-based partners. Specific plans for 2007 included: a 72 GWh reduction in annual electricity usage; approximately $7.7 million in annual savings to customers; a 16 MW reduction in peak electricity demand; and a 50 thousand tonne reduction of GHGs. A business case was presented along with details of proposed residential, commercial and industrial programs. A cost benefit analysis was provided, as well as an outline of the plan's budget and organizational structure. It was concluded that the success of the various program elements will be based on quantitative and qualitative data on the actual effect on energy use of each customer sector, as well as its effect on system demand profiles. Data will be collected through the use of customer surveys, questionnaires, and direct feedback from partners, educators and manufactures and suppliers. 11 tabs., 16 figs

Valuing uncertain cash flows from investments that enhance energy efficiency.

Science.gov (United States)

Abadie, Luis M; Chamorro, José M; González-Eguino, Mikel

2013-02-15

There is a broad consensus that investments to enhance energy efficiency quickly pay for themselves in lower energy bills and spared emission allowances. However, investments that at first glance seem worthwhile usually are not undertaken. One of the plausible, non-excluding explanations is the numerous uncertainties that these investments face. This paper deals with the optimal time to invest in an energy efficiency enhancement at a facility already in place that consumes huge amounts of a fossil fuel (coal) and operates under carbon constraints. We follow the Real Options approach. Our model comprises three sources of uncertainty following different stochastic processes which allows for application in a broad range of settings. We assess the investment option by means of a three-dimensional binomial lattice. We compute the trigger investment cost, i.e., the threshold level below which immediate investment would be optimal. We analyze the major drivers of this decision thus aiming at the most promising policies in this regard. Copyright © 2012 Elsevier Ltd. All rights reserved.

Stimulating Investments in Energy Efficiency Through Supply Chain Integration

Directory of Open Access Journals (Sweden)

Beatrice Marchi

2018-04-01

Full Text Available Attention to energy efficiency is recently experiencing substantial growth. To overcome the several barriers currently existing that represent an obstacle to the successful implementation of the wide set of energy efficiency measures available, the cooperation among members of a supply chain offers a huge potential. In supply chains, in addition to the traditional coordination of the operations, the members may also share financial resources or act jointly on the capital market. This study presents a two-stage supply chain model considering the opportunity to invest in new energy efficient technologies which are affected by learning effects: the member of the supply chain with better energy performance and/or better financial conditions may find it more profitable to invest in the development of the energy efficiency of its partner. The objective of the model is to determine the optimal investment for each supply chain member so as to maximize the Net Present Value of the supply chain. The impacts of the proposed joint decision-making are investigated through some numerical analysis and managerial insights are proposed: the joint decision-making process on the financial flows for the energy efficiency investments results are especially advantageous (up to a 20% increase of the supply chain Net Present Value when members have different access to capital, which could be the result of different economic conditions in companies’ countries, as well as different credit policies or different credit ratings.

Does land tenure security matter for investment in soil and water conservation? Evidence from Kenya

NARCIS (Netherlands)

Kabubo-Mariara, J.; Linderhof, V.G.M.; Kruseman, G.

2010-01-01

This paper investigates the impact of tenure security and other factors on investment in soil and water conservation (SWC) in Kenya. Factor analysis, step-wise regression and reduced form model approaches are used to explain the willingness, likelihood and intensity of adoption of SWC investments.

Efficient pricing and investment in electricity markets with intermittent resources

International Nuclear Information System (INIS)

Chao, Hung-po

2011-01-01

Facing growing technological and environmental challenges, the electricity industry needs effective pricing mechanism to promote efficient risk management and investment decisions. In a restructured electricity market with competitive wholesale prices and traditionally regulated retail rates, however, there are technical and institutional barriers that prevent dynamic pricing with price responsive demand. In regions with limited energy storage capacity, intermittent renewable resources present special challenges. This could adversely affect the effectiveness of public policies causing inefficient investments in energy technologies. In this paper, we present an updated economic model of pricing and investment in restructured electricity market and use the model in a simulation study for an initial assessment of renewable energy strategy and alternative pricing mechanisms. A key objective of the study is to shed light on the policy issues so that effective decisions can be made to improve efficiency. - Highlights: → Renewable resources present special challenges in regions with limited energy storage capacity. → This paper presents an updated economic model of pricing and investment in restructured electricity market. → A simulation study assesses renewable energy strategy and alternative pricing mechanisms. → The study results inform policy decisions to improve efficient investments in energy technologies.

Conservation potential of agricultural water conservation subsidies

Science.gov (United States)

Huffaker, Ray

2008-07-01

A current policy subsidizes farmers to invest in improved on-farm irrigation efficiency, expecting water to be conserved off farm. Contrary to expectation, water has been increasingly depleted in some regions after such improvements. This paper investigates the policy's failure to conserve water consistently by (1) formulating an economic model of irrigated crop production to determine a profit-maximizing irrigator's range of responses to a subsidy and (2) embedding these responses into hypothetical streamflow diagrams to ascertain their potential to conserve water under various hydrologic regimes. Testable hypotheses are developed to predict the conservation potential of a subsidy in real-world application.

Energy conservation, efficiency and energy audit

International Nuclear Information System (INIS)

Sharma, R.A.

2006-01-01

In this paper the author discusses the conservation, efficiency, audit, fundamentals, differences and methods, the objectives of energy conservation, definitions of energy audit, scope, short term, medium term and long term measures to be taken for conservation are discussed

Investment incentives, corporate taxation, and efficiency in the allocation of capital

Energy Technology Data Exchange (ETDEWEB)

Boadway, R

1978-09-01

The author shows that, within the strict confines of the neoclassical theory of investment, investment allowances and tax credits on gross investment over and above regular depreciation are efficient investment incentives in the sense that they do not distort the allocation of capital over investments of differing durabilities. Initial allowances, tax credits on net investments, tax credits on gross investment which are set against depreciation, and interest subsidies all distort investment decisions in favor of longer-lived investments. Accelerated depreciation schemes are generally distortionary as well, with the nature of the distortion depending upon how the tax depreciation rate is defined.

Conservation investment for rare plants in urban environments.

Science.gov (United States)

Schwartz, Mark W; Smith, Lacy M; Steel, Zachary L

2013-01-01

Budgets for species conservation limit actions. Expending resources in areas of high human density is costly and generally considered less likely to succeed. Yet, coastal California contains both a large fraction of narrowly endemic at-risk plant species as well as the state's three largest metropolitan regions. Hence understanding the capacity to protect species along the highly urbanized coast is a conservation priority. We examine at-risk plant populations along California's coastline from San Diego to north of San Francisco to better understand whether there is a relationship between human population density and: i) performance of at-risk plant populations; and ii) conservation spending. Answering these questions can help focus appropriate strategic conservation investment. Rare plant performance was measured using the annualized growth rate estimate between census periods using the California Natural Diversity Database. Human density was estimated using Census Bureau statistics from the year 2000. We found strong evidence for a lack of a relationship between human population density and plant population performance in California's coastal counties. Analyzing US Endangered Species expenditure reports, we found large differences in expenditures among counties, with plants in San Diego County receiving much higher expenditures than other locations. We found a slight positive relationship between expenditures on behalf of endangered species and human density. Together these data support the argument that conservation efforts by protecting habitats within urban environments are not less likely to be successful than in rural areas. Expenditures on behalf of federally listed endangered and threatened plants do not appear to be related to proximity to human populations. Given the evidence of sufficient performance in urban environments, along with a high potential to leverage public support for nature in urban environments, expenditures in these areas appear to be an

Marginal costs and co-benefits of energy efficiency investments

International Nuclear Information System (INIS)

Jakob, Martin

2006-01-01

Key elements of present investment decision-making regarding energy efficiency of new buildings and the refurbishment of existing buildings are the marginal costs of energy efficiency measures and incomplete knowledge of investors and architects about pricing, co-benefits and new technologies. This paper reports on a recently completed empirical study for the Swiss residential sector. It empirically quantifies the marginal costs of energy efficiency investments (i.e. additional insulation, improved window systems, ventilation and heating systems and architectural concepts). For the private sector, first results on the economic valuation of co-benefits such as improved comfort of living, improved indoor air quality, better protection against external noise, etc. may amount to the same order of magnitude as the energy-related benefits are given. The cost-benefit analysis includes newly developed technologies that show large variations in prices due to pioneer market pricing, add-on of learning costs and risk components of the installers. Based on new empirical data on the present cost-situation and past techno-economic progress, the potential of future cost reduction was estimated applying the experience curve concept. The paper shows, for the first time, co-benefits and cost dynamics of energy efficiency investments, of which decision makers in the real estate sector, politics and administrations are scarcely aware

Cost Efficiency and Returns to Scope in Italian Investment Firms

OpenAIRE

Marcello Basili; Fulvio Fontini

2005-01-01

This paper estimates cost efficiency and returns to scope of Italian investment firms during the period 1998-2002, following the stochastic frontier function approach. Results indicate a large inefficiency for Italian investment firms (with a high standard deviation across sample) and the absence of significant returns to scope

Energy efficient policy impact in India: case study of investment in industrial energy efficiency

International Nuclear Information System (INIS)

Yang, M.

2006-01-01

The objective of this paper is to identify the effectiveness of energy policy and capital investment in energy efficiency technologies in the industrial sector in India. Indian energy policies relating to industrial energy efficiency over the past 25 years are briefly reviewed, and a comparison study of these energy efficiency policies and strategies in India and China has been carried out. Interviews were conducted with a number of government policy-making institutions and a national industrial development bank. The accounts of 26 industrial enterprises which applied and used a loan of the Asian Development Bank were audited for data collection. Field-visits to seven industrial entrepreneurs were undertaken in a case study. Methodologies used in this study include documentation, cross-country reviews on energy policies, questionnaire design and distribution in the industrial sector, and on-site auditing of energy efficiency technologies. This paper concludes that current energy policies and strategies in India need further improvement to promote energy efficiency investment and energy efficiency technology development in the industrial sector. This paper will interest those policy makers and industrial entrepreneurs who are willing to finance energy efficiency projects and improve energy efficiency in the industrial sector. (author)

Energy efficiency policy impact in India: case study of investment in industrial energy efficiency

International Nuclear Information System (INIS)

Yang Ming

2006-01-01

The objective of this paper is to identify the effectiveness of energy policy and capital investment in energy efficiency technologies in the industrial sector in India. Indian energy policies relating to industrial energy efficiency over the past 25 years are briefly reviewed, and a comparison study of these energy efficiency policies and strategies in India and China has been carried out. Interviews were conducted with a number of government policy-making institutions and a national industrial development bank. The accounts of 26 industrial enterprises which applied and used a loan of the Asian Development Bank were audited for data collection. Field-visits to seven industrial entrepreneurs were undertaken in a case study. Methodologies used in this study include documentation, cross-country reviews on energy policies, questionnaire design and distribution in the industrial sector, and on-site auditing of energy efficiency technologies. This paper concludes that current energy policies and strategies in India need further improvement to promote energy efficiency investment and energy efficiency technology development in the industrial sector. This paper will interest those policy makers and industrial entrepreneurs who are willing to finance energy efficiency projects and improve energy efficiency in the industrial sector

Renewable portfolio standards and cost-effective energy-efficiency investment

International Nuclear Information System (INIS)

Mahone, A.; Woo, C.K.; Williams, J.; Horowitz, I.

2009-01-01

Renewable portfolio standards (RPSs) and mandates to invest in cost-effective energy efficiency (EE) are increasingly popular policy tools to combat climate change and dependence on fossil fuels. These supply-side and demand-side policies, however, are often uncoordinated. Using California as a case in point, this paper demonstrates that states could improve resource allocation if these two policies were coordinated by incorporating renewable-energy procurement cost into the cost-effectiveness determination for EE investment. In particular, if renewable energy is relatively expensive when compared to conventional energy, increasing the RPS target raises the cost-effective level of EE investment

Investment risk evaluation techniques: use in energy-intensive industries and implications for ERDA's Industrial Conservation Program

Energy Technology Data Exchange (ETDEWEB)

None

1977-07-13

The trade-off between risk and rate-of-return in investment evaluations is crucial in assessing the commercial potential of future energy-conservation technologies. The focus of the Industrial Conservation Program at ERDA is to reduce the perceived risks of a given technology to the extent that the private sector will adopt the technology within the normal course of its business operations. These perceived risks may emanate from technical, institutional, or commercial uncertainties, or in many cases they may result merely from a company's or industry's lack of previous experience with a particular technology. Regardless of the source of the risk surrounding a project, the uncertainty it poses to the private sector will serve to inhibit decisions to invest. This study evaluates the treatment of risk in capital investments in certain energy-intensive industries which are the primary targets of ERDA's Industrial Conservation Program. These risks evaluation considerations were placed within a context that includes capital budgeting practices and procedures, organizational considerations, and basic rate-of-return evaluation procedures in the targeted energy-intensive industries (petroleum, chemicals, paper, textiles, cement, food processing, aluminum, steel, glass, and agriculture).

How high are option values in energy-efficiency investments?

International Nuclear Information System (INIS)

Sanstad, A.H.; Blumstein, C.; Stoft, S.E.; California Univ., Berkeley, CA,

1995-01-01

High implicit discount rates in consumers' energy-efficiency investments have long been a source of controversy. In several recent papers, Hassett and Metcalf argue that the uncertainty and irreversibility attendant to such investments, and the resulting option value, account for this anomalously high implicit discounting. Using their model and data, we show that, to the contrary, their analysis falls well short of providing an explanation of this pattern. (author)

Mechanisms for efficient investments and optimal zones in regional power market

Directory of Open Access Journals (Sweden)

Andročec Ivan

2014-01-01

Full Text Available The paper is result of research different cross-border electricity trading mechanisms impact. Focus is on investments in generation and transmission power system facilities in regional market. Assumptions include efficient market coupling mechanism (with more bidding zones, use of additional investment indicators (like social welfare and congestion cost and security of supply issues (capacity mechanisms. There is discussion on cost benefits analysis for particular market participants and there is possibility of risk reduction for regional power system expansion. It is shown current state-of-the-art, problems and trends in solving some aspects of market integration and investment issues. In some cases smaller and well defined bidding areas are absolutely essential in order to ensure system security and economic efficiency. There is no single criterion for power system expansion but it is possible to use combination of incentive schemes and possible through one index for cross-border trade. Risk management for cross-border electricity trading through several areas needs to be upgraded with use of financial transmission rights like weighted average area prices, respectively. Regional power system security is closely associated with timely investments in energy supply in line with economic development and environmental needs. Security of supply indicator is deriving an estimation of security of supply improvement from the market based simulation results when a generation or transmission investment project is implemented. All researched makes market integration and investments in Europe more efficient and gives more correct signals to market participants in regional market.

Energy conservation: policy issues and end-use scenarios of savings potential

Energy Technology Data Exchange (ETDEWEB)

1978-09-01

The enclosed work is based on previous research during this fiscal year, contained in Construction of Energy Conservation Scenarios: Interim Report of Work in Progress, June 1978. Five subjects were investigated and summaries were published for each subject in separate publications. This publication summarizes policy issues on the five subjects: tradeoffs of municipal solid-waste-processing alternatives (economics of garbage collection; mechanical versus home separation of recyclables); policy barriers and investment decisions in industry (methodology for identification of potential barriers to industrial energy conservation; process of industrial investment decision making); energy-efficient recreational travel (information system to promote energy-efficient recreational travel; recreational travel; national importance and individual decision making); energy-efficient buildings (causes of litigation against energy-conservation building codes; description of the building process); and end-use energy-conservation data base and scenaerios (residential; commercial; transportation; and industrial).

US energy conservation and efficiency policies: Challenges and opportunities

International Nuclear Information System (INIS)

Dixon, Robert K.; McGowan, Elizabeth; Onysko, Ganna; Scheer, Richard M.

2010-01-01

Expanding energy conservation and efficiency in every sector nationwide is one of the most cost-effective instruments for reducing US energy imports, the trade deficit and energy's environmental impacts. For these reasons, energy conservation and efficiency have been essential elements of US energy policy since the oil embargos and price spikes of the 1970s. The Energy Independence and Security Act of 2007 (EISA) is the latest federal legislation to expand and strengthen US energy conservation and efficiency policies, programs, and practices. Specifically, EISA and its recent predecessor, the Energy Policy Act of 2005 (EPAct05), contain almost 200 titles with new provisions for energy conservation and efficiency aimed at improvements in vehicle fuel economy. These provisions include efficiency of appliances and lighting; energy savings in residential, commercial, and government buildings; the efficiency of industrial manufacturing plants; and the efficiency of electric power delivery and end-use. These actions have begun to contribute to new federal, state, and local policies, programs, and practices across the US, and expectations are high for increases in the level of energy savings. This paper summarizes the history of US energy conservation and efficiency policies, outlines EISA's and EPAct05's key provisions, and considers prospects for the future.

US energy conservation and efficiency policies. Challenges and opportunities

Energy Technology Data Exchange (ETDEWEB)

Dixon, Robert K.; Onysko, Ganna [Global Environment Facility, Climate Change and Chemicals, 1818 H Street, NW, MSN G6-602, Washington, DC 20433 (United States); McGowan, Elizabeth; Scheer, Richard M. [Energetics Incorporated, 7067 Columbia Gateway Drive, Suite 200, Columbia, MD 21046 (United States)

2010-11-15

Expanding energy conservation and efficiency in every sector nationwide is one of the most cost-effective instruments for reducing US energy imports, the trade deficit and energy's environmental impacts. For these reasons, energy conservation and efficiency have been essential elements of US energy policy since the oil embargos and price spikes of the 1970s. The Energy Independence and Security Act of 2007 (EISA) is the latest federal legislation to expand and strengthen US energy conservation and efficiency policies, programs, and practices. Specifically, EISA and its recent predecessor, the Energy Policy Act of 2005 (EPAct05), contain almost 200 titles with new provisions for energy conservation and efficiency aimed at improvements in vehicle fuel economy. These provisions include efficiency of appliances and lighting; energy savings in residential, commercial, and government buildings; the efficiency of industrial manufacturing plants; and the efficiency of electric power delivery and end-use. These actions have begun to contribute to new federal, state, and local policies, programs, and practices across the US, and expectations are high for increases in the level of energy savings. This paper summarizes the history of US energy conservation and efficiency policies, outlines EISA's and EPAct05's key provisions, and considers prospects for the future. (author)

US energy conservation and efficiency policies: Challenges and opportunities

Energy Technology Data Exchange (ETDEWEB)

Dixon, Robert K. [Global Environment Facility, Climate Change and Chemicals, 1818 H Street, NW, MSN G6-602, Washington, DC 20433 (United States); McGowan, Elizabeth [Energetics Incorporated, 7067 Columbia Gateway Drive, Suite 200, Columbia, MD 21046 (United States); Onysko, Ganna, E-mail: gonysko@thegef.or [Global Environment Facility, Climate Change and Chemicals, 1818 H Street, NW, MSN G6-602, Washington, DC 20433 (United States); Scheer, Richard M. [Energetics Incorporated, 7067 Columbia Gateway Drive, Suite 200, Columbia, MD 21046 (United States)

2010-11-15

Expanding energy conservation and efficiency in every sector nationwide is one of the most cost-effective instruments for reducing US energy imports, the trade deficit and energy's environmental impacts. For these reasons, energy conservation and efficiency have been essential elements of US energy policy since the oil embargos and price spikes of the 1970s. The Energy Independence and Security Act of 2007 (EISA) is the latest federal legislation to expand and strengthen US energy conservation and efficiency policies, programs, and practices. Specifically, EISA and its recent predecessor, the Energy Policy Act of 2005 (EPAct05), contain almost 200 titles with new provisions for energy conservation and efficiency aimed at improvements in vehicle fuel economy. These provisions include efficiency of appliances and lighting; energy savings in residential, commercial, and government buildings; the efficiency of industrial manufacturing plants; and the efficiency of electric power delivery and end-use. These actions have begun to contribute to new federal, state, and local policies, programs, and practices across the US, and expectations are high for increases in the level of energy savings. This paper summarizes the history of US energy conservation and efficiency policies, outlines EISA's and EPAct05's key provisions, and considers prospects for the future.

Marketing energy conservation options to Northwest manufactured home buyers

Energy Technology Data Exchange (ETDEWEB)

Hendrickson, P.L.; Mohler, B.L.; Taylor, Z.T.; Lee, A.D.; Onisko, S.A.

1985-06-01

This study relies on extensive, existing survey data and new analyses to develop information that would help design a marketing plan to achieve energy conservation in new manufactured homes. Existing surveys present comprehensive information about regional manufactured home occupants and their homes that are relevant to a potential conservation marketing plan. An independent analysis of the cost-effectiveness of various efficiency improvements provides background information for designing a marketing plan. This analysis focuses on the economic impacts of alternative energy conservation options as perceived by the home owner. Identifying impediments to conservation investments is also very important in designing a marketing plan. A recent report suggests that financial constraints and the need for better information and knowledge about conservation pose the major conservation investment barriers. Since loan interest rates for new manufactured homes typically exceed site-built rates by a considerable amount and the buyers tend to have lower incomes, the economics of manufactured home conservation investments are likely to significantly influence their viability. Conservation information and its presentation directly influences the manufactured home buyer's decision. A marketing plan should address these impediments and their implications very clearly. Dealers express a belief that consumer satisfaction is the major advantage to selling energy efficient manufactured homes. This suggests that targeting dealers in a marketing plan and providing them direct information on consumers' indicated attitudes may be important. 74 refs.

Foreign Direct Investment and its Spillover Efficiency in China

OpenAIRE

劉, 黄金

2004-01-01

In this paper, we review the development process and its characteristics of inward foreign direct investment (FDI) in China. Using the latest data of Jiangsu province, we test the spillover efficiency of FDI. We find that FDI has spillover efficiency in Jiangsu's economy, but the smaller the technology gap between domestic and foreign enterprises, the larger the spillovers.

Mobilising Investment in Energy Efficiency

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-07-01

Taxes, loans and grants, trading schemes and white certificates, public procurement and investment in R&D or infrastructure: known collectively as 'economic instruments', these tools can be powerful means of mobilising the finances needed to achieve policy goals by implementing energy efficiency measures. The role of economic instruments is to kick-start the private financial markets and to motivate private investors to fund EE measures. They should reinforce and promote energy performance regulations. This IEA analysis addresses the fact that, to date, relatively little effort has been directed toward evaluating how well economic instruments work. Using the buildings sector to illustrate how such measures can support energy efficiency, this paper can help policy makers better select and design economic instruments appropriate to their policy objectives and national contexts. This report’s three main aims are to: 1) Examine how economic instruments are currently used in energy efficiency policy; 2) Consider how economic instruments can be more effective and efficient in supporting low-energy buildings; and 3) Assess how economic instruments should be funded, where public outlay is needed. Detailed case studies in this report assess examples of economic instruments for energy efficiency in the buildings sector in Canada (grants), France (tax relief and loans), Germany (loans and grants), Ireland (grants) and Italy (white certificates and tax relief).

Corruption and the Efficiency of Capital Investment in Developing Countries

DEFF Research Database (Denmark)

O’Toole, Conor M.; Tarp, Finn

2014-01-01

This paper tests the effect of corruption on the efficiency of capital investment. Using firm-level data from the World Bank Enterprise Surveys, covering 90 developing and transition economies, we consider whether the cost of informal bribe payments distorts the efficient allocation of capital...

EFFICIENCY OF INVESTMENTS IN POLISH FARMS BEFORE AND AFTER ACCESSION TO THE EUROPEAN UNION

Directory of Open Access Journals (Sweden)

Roman Sass

2017-06-01

Full Text Available Assessment efficiency of investments realized in the years 1996–2003 with the use of the so-called preferential loans and after accession of Poland to the European Union is the purpose of this study. Using regression methods, the impact of selected elements of the production potential of farms on the value of investment expenditures after 2004 have been defined. Conclusively, the efficiency of investments was considerably higher in the pre-accession period than after accession of Poland to the European Union. It concerns both farms differing in the values of investment expenditures as well as the investment’s direction. A particular high drop in the investment’s efficiency occurred at farms investing the most in machines and equipment. The analysis of correlation with the use of the methods of regression indicates, that the area of a farm and fixed assets had a crucial impact on the value of investment expenditures in the years 2004–2011. The level of explanation of variability of investment expenditures by the production potential and factors covariant with it is high, and for the lineal function it amounts to more than 91%.

Conservation and aid: designing more effective investments in natural resource governance reform.

Science.gov (United States)

Nelson, Fred

2009-10-01

Biodiversity conservation outcomes are closely related to the rules and institutions governing resource use. Creating local incentives for conservation through more secure resource tenure is central to conservation outcomes on private and communal lands, where the preponderance of biodiversity occurs. Conservation efforts in sub-Saharan Africa are therefore centrally concerned with governance dynamics and institutional reform processes, such as the decentralization of property rights, and how best to achieve such reforms. Traditional mechanisms for financing conservation efforts in Africa rely heavily on funds channeled through multilateral and bilateral aid agencies. The history of development aid highlights a range of constraints these aid agencies face in terms of working toward more effective resource governance arrangements and promoting reforms. Government aid agencies possess incentives for promoting large-scale and short-term projects that maximize expenditure volumes and tend to define issues in technical rather than political terms. The history of development aid suggests that these and other characteristics of aid agencies impedes their ability to influence governance reform processes and that aid funding may discourage the adoption of reforms. Greater emphasis in African conservation financing needs to be placed on flexible, small-scale investments aligned to local interests and constituencies that prioritize innovation, learning, and experimentation. Additionally, more research is required that explores the linkages between conservation funding, donor decision-making processes, and governance reforms.

The economical efficiency of private investments in higher education in Russia

Directory of Open Access Journals (Sweden)

Elena Maksyutina

2011-12-01

Full Text Available The article investigates the economical efficiency of investments in higher education in modern conditions of Russia. The beginning of the article includes a characteristic of the existing empiric research concerning the efficiency of investments in human capital assets. Further the author of the article introduces the results of pay off calculation of private investments in higher education. The result of the research was that in modern conditions of Russia investments in higher education are exceedingly advantageous. High norms of higher education feedback and short period of pay off of these investments explain the reasons of continuously growing demand for it on the part of the population, especially young people. The article proves that the level of population education in Russia is quite high, however accumulated human capital asset is used insufficiently effective. Many people with higher education are forced to take jobs not requiring higher education.  Sharp shift in educational behavior of Russian people raises new demands to labor market. Graduates of higher educational institutions, appearing on a labor market, form qualitatively different demands towards it. But tempo of Russian economics development today can not provide job positions for all graduates of higher educational institutions. That is why structural change of economics is needed.

Estimating the Value of Price Risk Reduction in Energy Efficiency Investments in Buildings

Directory of Open Access Journals (Sweden)

Pekka Tuominen

2017-10-01

Full Text Available This paper presents a method for calculating the value of price risk reduction to a consumer that can be achieved with investments in energy efficiency. The value of price risk reduction is discussed to some length in general terms in the literature reviewed but, so far, no methodology for calculating the value has been presented. Here we suggest such a method. The problem of valuating price risk reduction is approached using a variation of the Black–Scholes model by considering a hypothetical financial instrument that a consumer would purchase to insure herself against unexpected price hikes. This hypothetical instrument is then compared with an actual energy efficiency investment that reaches the same level of price risk reduction. To demonstrate the usability of the method, case examples are calculated for typical single-family houses in Finland. The results show that the price risk entailed in household energy consumption can be reduced by a meaningful amount with energy efficiency investments, and that the monetary value of this reduction can be calculated. It is argued that this often-overlooked benefit of energy efficiency investments merits more consideration in future studies.

Investment In Energy Efficiency: Do The Characteristics Of Firms Matter?

OpenAIRE

Stephen J. Decanio; William E. Watkins

1998-01-01

The literature on energy efficiency provides numerous examples of apparently profitable technologies that are not universally adopted. Yet according to the standard neoclassical theory of investment, profit-maximizing firms should undertake all investments with a positive net present value. The standard theory also holds that the discount rate for computing the present value of a project should be the return available on other projects in the same risk class, and therefore should not depend o...

A dynamic-efficiency rationale for public investment in the health of young

DEFF Research Database (Denmark)

Andersen, Torben M.; Bhattacharya, Joydeep

2014-01-01

under dynamic efficiency and exogenous mortality even when private and public investments are perfect substitutes. If health investment reduces mortality risk but individuals do not internalize its effect on the life-annuity interest rate, the “Philipson-Becker effect” emerges; when the young are net...

Energy efficiency in existing buildings: investment gap, incentives and supporting measures

International Nuclear Information System (INIS)

Varenio, Celine

2012-01-01

This PhD dissertation focuses on energy efficiency policies in housing. It aims at evaluating the effectiveness of public incentives designed to increase household's investment in energy efficiency of their dwelling. To reach this objective this research combines the two key dimensions of ex-post evaluation, i.e. summary and formative dimensions. The first one aims at knowing the effectiveness of public policies whereas the other one targets to understand what the public policies' consequences are and to identify ways for improvement. To reach this purpose, the research follows four steps. Firstly, it requires a detailed analysis to understand the origins of the energy efficiency gap. This gap can be explained by markets failures, consequences of bounded rationality and coordination problem between stakeholders, especially in multi-family dwellings. Secondly, the argument progresses by drawing a parallel between results from normative analysis and from observations of actual level of investments in thermal retrofit actions. It aims at identifying investment households' criteria and then at understanding how barriers to energy efficiency raise. Thirdly, thanks to the inventory of these various energy efficiency barriers it becomes possible to examine if the incentives currently implemented in France can remove them all. It appears that the national policy does not significantly reduce the energy efficiency gap. On the one hand, some barriers remain because no tool has been proposed to overcome them. On the other hand, some barriers are only partially eliminated because the practical use of tools differs from their theoretical design. Finally, using the analysis of retrofitting programs implemented on the Grenoble area this research assesses the effectiveness of additional incentives. The objective is to know to what extent these 'reinforced' policies remove barriers still existing after national tools implementation. From these four

Synthesis and review: delivering on conservation promises: the challenges of managing and measuring conservation outcomes

Science.gov (United States)

Adams, Vanessa M.; Game, Edward T.; Bode, Michael

2014-08-01

Growing threats and limited resources have always been the financial realities of biodiversity conservation. As the conservation sector has matured, however, the accountability of conservation investments has become an increasingly debated topic, with two key topics being driven to the forefront of the discourse: understanding how to manage the risks associated with our conservation investments and demonstrating that our investments are making a difference through evidence-based analyses. A better understanding of the uncertainties associated with conservation decisions is a central component of managing risks to investments that is often neglected. This focus issue presents both theoretical and applied approaches to quantifying and managing risks. Furthermore, transparent and replicable approaches to measuring impacts of conservation investments are noticeably absent in many conservation programs globally. This focus issue contains state of the art conservation program impact evaluations that both demonstrate how these methods can be used to measure outcomes as well as directing future investments. This focus issue thus brings together current thinking and case studies that can provide a valuable resource for directing future conservation investments.

Synthesis and review: delivering on conservation promises: the challenges of managing and measuring conservation outcomes

International Nuclear Information System (INIS)

Adams, Vanessa M; Game, Edward T; Bode, Michael

2014-01-01

Growing threats and limited resources have always been the financial realities of biodiversity conservation. As the conservation sector has matured, however, the accountability of conservation investments has become an increasingly debated topic, with two key topics being driven to the forefront of the discourse: understanding how to manage the risks associated with our conservation investments and demonstrating that our investments are making a difference through evidence-based analyses. A better understanding of the uncertainties associated with conservation decisions is a central component of managing risks to investments that is often neglected. This focus issue presents both theoretical and applied approaches to quantifying and managing risks. Furthermore, transparent and replicable approaches to measuring impacts of conservation investments are noticeably absent in many conservation programs globally. This focus issue contains state of the art conservation program impact evaluations that both demonstrate how these methods can be used to measure outcomes as well as directing future investments. This focus issue thus brings together current thinking and case studies that can provide a valuable resource for directing future conservation investments. (paper)

METHODICAL APPROACHES TO ASSESSMENT OF EFFICIENCY OF INVESTMENT PROJECTS OF DEVELOPMENT OF RURAL TERRITORIES

Directory of Open Access Journals (Sweden)

Nadejda Shatsilo

2018-05-01

Full Text Available The purpose is to justify the principles of assessing the effectiveness of innovation and investment projects of rural areas development on the basis of sustainability. Research methodology. In the course of the research general scientific and special methods for solving the tasks and obtaining the corresponding results were used, in particular: the method of logical analysis - in determining the factors of influence on the efficiency of investment projects; Systematization and generalization - in the synthesis of modern methodological approaches to the evaluation of innovation and investment projects of rural areas development; Abstract-logical - for theoretical generalizations and formulation of the findings of the study. Results.The principles of estimation of efficiency of innovative-investment projects are generalized. The interrelation and interdependence of goals and tasks in the development of three subsystems of sustainability have been studied, which need to be taken into account when identifying the effects arising from the implementation of investment projects. The methodological principles of evaluation of innovation-investment projects of rural areas development in conditions of observance of the requirements of sustainable development are highlighted. The deterrent factors hindering the implementation of the processes of investment of investment resources in the development of rural areas are determined. The principles of implementation of investment projects oriented on sustainable development are substantiated. Priority directions of investing resources investment in the development of rural areas on the principles of sustainability within the framework of solving economic, social and environmental problems have been identified. The mechanism of estimation of efficiency of innovative-investment project of development of rural territory in the conditions of limited financial resources is offered. It is substantiated that it is

BC Hydro best practices : energy efficiency and integrated planning

International Nuclear Information System (INIS)

Henriques, D.

2004-01-01

The key elements to success in energy efficiency include integrated energy planning, a review of conservation potential, pursuing a target, risk sharing between all parties, and long term planning when making investments in demand side management (DSM). The barriers to cost effective energy efficiency investment were also outlined along with the scope of the conservation potential review which included 95 per cent of electricity end use applications in all market sectors including residential, commercial, institutional and industrial. BC Hydro's Power Smart program focuses on energy efficiency and load displacement to meet 35 per cent of the utility's forecasted growth by 2012. The sources of savings within each of the market sectors were identified. Key recommendations regarding energy efficiency and conservation were also presented with reference to financial incentives offered by BC Hydro to consumers to encourage a switch to more efficient lighting systems. 10 figs

Hospital investment policy in France: pathways to efficiency and the efficiency of the pathways.

Science.gov (United States)

Guerrero, Isabelle; Mossé, Philippe R; Rogers, Vaughan

2009-11-01

This article examines the ambivalent notion of New Public Management as applied to health policy in France, by investigating the implementation of the efficiency-driven hospital investment plan, Hôpital 2012, conceived at national level, but implemented through regional hospital authorities (ARHs), with formal responsibility for selecting successful funding applications. The methodology combines qualitative and quantitative analysis, in order to highlight and explain discrepancies between goals and results. Despite formal adherence to objective efficiency indicators, certain decisions were based on incomplete information and others on considerations out with initially established criteria. Competition from the private sector was perceived as a threat to public hospitals and the public sector emerged as a major beneficiary of the investment plan. Central ministerial intervention emphasising financial and quantitative considerations led the ARHs to focus more on individual hospital performance than on wider healthcare needs. Data-production became almost an end in itself, threatening to undermine the objectives it sought to pursue. Nonetheless, extended deadlines entailed by ministerial intervention were appropriated as a resource by local actors, leading to ARH decisions which deviated from the official efficiency model, but resulted in increased effectiveness, taking fuller account of local conditions.

Impacts of foreign direct investment on efficiency in Swedish manufacturing.

Science.gov (United States)

Svedin, Dick; Stage, Jesper

2016-01-01

A number of studies have found that foreign direct investment (FDI) can have positive impacts on productivity. However, while FDI has clearly positive impacts on technology transfers, its effects on resource use within firms is less clear and, in principle, efficiency losses might offset some of the productivity gains associated with improved technologies. In this paper, we study the impacts of FDI on efficiency in Swedish manufacturing. We find that foreign ownership has positive impacts on efficiency, supporting the earlier findings on productivity.

Effects of threat management interactions on conservation priorities.

Science.gov (United States)

Auerbach, Nancy A; Wilson, Kerrie A; Tulloch, Ayesha I T; Rhodes, Jonathan R; Hanson, Jeffrey O; Possingham, Hugh P

2015-12-01

Decisions need to be made about which biodiversity management actions are undertaken to mitigate threats and about where these actions are implemented. However, management actions can interact; that is, the cost, benefit, and feasibility of one action can change when another action is undertaken. There is little guidance on how to explicitly and efficiently prioritize management for multiple threats, including deciding where to act. Integrated management could focus on one management action to abate a dominant threat or on a strategy comprising multiple actions to abate multiple threats. Furthermore management could be undertaken at sites that are in close proximity to reduce costs. We used cost-effectiveness analysis to prioritize investments in fire management, controlling invasive predators, and reducing grazing pressure in a bio-diverse region of southeastern Queensland, Australia. We compared outcomes of 5 management approaches based on different assumptions about interactions and quantified how investment needed, benefits expected, and the locations prioritized for implementation differed when interactions were taken into account. Managing for interactions altered decisions about where to invest and in which actions to invest and had the potential to deliver increased investment efficiency. Differences in high priority locations and actions were greatest between the approaches when we made different assumptions about how management actions deliver benefits through threat abatement: either all threats must be managed to conserve species or only one management action may be required. Threatened species management that does not consider interactions between actions may result in misplaced investments or misguided expectations of the effort required to mitigate threats to species. © 2015 The Authors. Conservation Biology published by Wiley Periodicals, Inc., on behalf of Society for Conservation Biology.

THE INFLUENCE OF THE ENTERPRISE LIFE CYCLE ON THE EFFICIENCY OF INVESTMENT

Directory of Open Access Journals (Sweden)

Viktor Koval

2017-12-01

Full Text Available The article presents results of the study of relations between the enterprise life cycle and the efficiency of investment in the context of dynamic, rapid changes in the conditions of enterprises operation and development. It is determined that one of the main factors of success is the introduction of innovative technologies in the production process, which cannot be carried out without attracting investments. It is the investment activity of enterprises that determines the dynamics of their development, the level of competitiveness and the growth of productive resources, which affects the efficiency of their activities. It is proved that it is relevant to take into account the possible negative effects of the influence of factors divergence. The purpose of the study is to analyse possibilities of determining the impact of life cycle stages on the efficiency of investing in an enterprise. The methodological basis of the research is grounded on the general scientific methods of dialectics, observation, measurement, and formalization; methods of the system and statistical analysis. In particular, to determine the influence of internal factors on the indicators of the efficiency of investment activity of the enterprise at the stages of its life cycle, deterministic factor analysis is applied; methods of systematization and synthesis, analysis and synthesis are also used. It is determined that the construction industry plays a special role in the national economy since its development creates a synergistic effect for the development of other industries, increases the standard of living of the society through solving certain socioeconomic problems. The analytical data of construction enterprises activity in Dnipropetrovsk and Odesa regions of Ukraine became the basis for the approbation of the proposed approach. The use of the life cycle model of the enterprise, which includes the stage of growth (slow and rapid growth, stability stage and the stage

Coupling Modern Portfolio Theory and Marxan enhances the efficiency of Lesser White-fronted Goose's (Anser erythropus) habitat conservation.

Science.gov (United States)

Liang, Jie; Gao, Xiang; Zeng, Guangming; Hua, Shanshan; Zhong, Minzhou; Li, Xiaodong; Li, Xin

2018-01-09

Climate change and human activities cause uncertain changes to species biodiversity by altering their habitat. The uncertainty of climate change requires planners to balance the benefit and cost of making conservation plan. Here optimal protection approach for Lesser White-fronted Goose (LWfG) by coupling Modern Portfolio Theory (MPT) and Marxan selection were proposed. MPT was used to provide suggested weights of investment for protected area (PA) and reduce the influence of climatic uncertainty, while Marxan was utilized to choose a series of specific locations for PA. We argued that through combining these two commonly used techniques with the conservation plan, including assets allocation and PA chosing, the efficiency of rare bird's protection would be enhanced. In MPT analyses, the uncertainty of conservation-outcome can be reduced while conservation effort was allocated in Hunan, Jiangxi and Yangtze River delta. In Marxan model, the optimal location for habitat restorations based on existing nature reserve was identified. Clear priorities for the location and allocation of assets could be provided based on this research, and it could help decision makers to build conservation strategy for LWfG.

PARTICULARITIES IN THE FIELD OF THE ANALYSIS OF INVESTMENT EFFICIENCY IN HIDROAMELIORATIVE IMPROVEMENTS

Directory of Open Access Journals (Sweden)

Florin Marian BUHOCIU

2005-01-01

Full Text Available In the evolution of society, investments have always had a primary role in best satisfying the materialand spiritual needs of its members. Throughout the centuries, every country’s economic and financialevolution has depended on the investments’ volume and efficiency. The correlation betweeninvestments and modernization is fundamental for any economic activity, regardless of the branch inwhich it may be carried out. Promoting economic and technical progress is a vital condition for theeconomy of our country and also one of the most important ways of enhancing competitiveness, bymeans of large investment funds. Thus, the necessity for investment processes justifies the thoroughevaluation of investment projects.

Point Climat no. 27 'Unlocking private investments in energy efficiency through carbon finance'

International Nuclear Information System (INIS)

Shishlov, Igor; Bellassen, Valentin

2013-01-01

Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: According to the latest IEA World Energy Outlook, energy efficiency is a 'key option' in transition to a low-carbon economy. A decade of experience with the CDM and JI demonstrates that carbon finance can be used as an effective tool to unlock private investments in energy efficiency. Capital investments in offset projects may significantly exceed the expected carbon revenues resulting in an average weighted leverage ratio of 4:1 and 9:1 for the CDM and JI respectively, which is comparable to other international financial instruments. So far carbon finance has been used mostly for large-scale industrial energy efficiency projects in advanced developing countries and economies in transition, although it is increasingly suited to tap into scattered household energy efficiency projects

Prerequisites to promote energy efficiency investments in Bulgaria

International Nuclear Information System (INIS)

Boernsen, O.

1994-01-01

The PHARE Energy Programme's team observation and advice to the Committee of Energy in Bulgaria are outlined. In comparison to the Western European countries energy intensity in Bulgaria is 2-3 times higher. It is explained by the energy intensive industrial structure and the old and depreciated capital equipment. Cost-covering energy prices would make energy efficiency investment financially feasible and would attract financiers. But the lesson from Western European experience is that availability of finance capital and cost reflecting energy prices is not at all a necessary prerequisite for energy efficiency improvement. This improvement can be achieved with no cost or low cost measures. The potential for energy efficiency in industry (consuming more than 50% of the energy) is 11%-20%; in buildings - 6%; in transport - 4%. There are other obstacles, as lack of information, other business interests and no internal expertise, especially for small and medium size industries. The basic prerequisite to improve energy efficiency is raising of awareness and change of management culture, as well as radical change in organisational and management structures. (orig.)

78 FR 50026 - Energy Efficiency and Conservation Loan Program Finding of No Significant Impact

Science.gov (United States)

2013-08-16

... DEPARTMENT OF AGRICULTURE Rural Utilities Service Energy Efficiency and Conservation Loan Program... implementing its new Energy Efficiency and Conservation Loan Program. The FONSI decision document is based on... entitled ``Energy Efficiency and Conservation Loan Program,'' which expands upon policies and procedures...

Energy conservation applications of microprocessors

Energy Technology Data Exchange (ETDEWEB)

Shih, James Y.

1979-07-01

A survey of the application of microprocessors for industrial and commercial energy conservation has been made. Microprocessor applications for HVAC, chiller control, and automotive equipment are discussed. A case study of successful replacement of a conventional cooling plant control is recounted. The rapid advancement of microelectronic technology will affect efficient energy control, more sophisticated control methodology, and more investment in controls.

Evaluation of water conservation capacity of loess plateau typical mountain ecosystems based on InVEST model simulation

Science.gov (United States)

Lv, Xizhi; Zuo, Zhongguo; Xiao, Peiqing

2017-06-01

With increasing demand for water resources and frequently a general deterioration of local water resources, water conservation by forests has received considerable attention in recent years. To evaluate water conservation capacities of different forest ecosystems in mountainous areas of Loess Plateau, the landscape of forests was divided into 18 types in Loess Plateau. Under the consideration of the factors such as climate, topography, plant, soil and land use, the water conservation of the forest ecosystems was estimated by means of InVEST model. The result showed that 486417.7 hm2 forests in typical mountain areas were divided into 18 forest types, and the total water conservation quantity was 1.64×1012m3, equaling an average of water conversation quantity of 9.09×1010m3. There is a great difference in average water conversation capacity among various forest types. The water conservation function and its evaluation is crucial and complicated issues in the study of ecological service function in modern times.

Financing energy efficiency investments. Third party financing: practical problems and possible solutions

International Nuclear Information System (INIS)

Warren, A.

1992-01-01

Third Party Financing means the packaging together of both technical aid and the necessary funding for energy cost saving investments by an outside company (outside to the energy user that is), using the energy cost savings themselves to pay for that investment. There are two key factors which differentiate Third Party Financing and conventional approaches to the implementation of energy conservation projects, the first of which is the provision of all the necessary technical services - both initial and detailed energy audits, engineering design and implementation - from one source. The second difference involves viewing the energy cost savings as a ''stream oincome'' which will repay the cost of the investment. This approach has a number of attractions to energy users: the outside company brings both its technical expertise and the necessary up-front capital to fund the energy saving investment. In addition, because the payments to the outside company are contingent, either wholly or in part, upon the level and timing of the energy cost savings the technical and financial risk for the investment is transferred from the energy user to the outside company. However, although simple in concept, third party financing is complex in practice. How does an energy user judge one third party financing proposal against another? If an agreement is made, how are energy savings measured or what happens if there is a dispute between the two parties? These are examples of the practical questions addressed in this paper which must be resolved if third party financing is to be used to assist energy saving. (Author)

FY 2000 report on the potential survey of implementation of a model project for improvement of thermal efficiency and energy conservation in refineries of Indonesia; 2000 nendo chosa hokokusho. Indonesia ni okeru seiyujo netsukoritsu kojo shoenergy model jigyo jisshi kanosei chosa

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-07-01

For the purpose of heightening the thermal efficiency in oil refineries in Indonesia, survey was conducted of two main refineries of Pertamina (Cilacap Refinery and Balikpapan Refinery), and a potentiality of spreading energy conservation technology was studied. As a result of the study, the following were found out. In Cilacap Refinery, there is a possibility of energy conservation by enhancing the efficiency of the atmospheric distillation system and rationalizing utility facilities. As to Balikpapan Refinery, when effects of energy conservation are calculated by effectively using the by-producing off-gas emitted from the oil refining process which was recovered as on-site fuel, the amount of reduction in fuel consumption became 2.3 KL-FOE/h, and the year of simple investment recovery 1.7 years. Further, by recovering/effectively using hydrogen in the separation gas emitted from the hydrocracking unit, fuel/raw material in the hydrogen producing facilities were reduced, and the energy conservation effect became 2.98 KL-FOE/h in the amount of reduction in fuel consumption and 2.9 years in the year of simple investment recovery. (NEDO)

The Conserver Society revisited. Un regard neuf sur la societe de conservation

Energy Technology Data Exchange (ETDEWEB)

Schrecker, T

1983-01-01

A discussion paper is presented on the applicability of the ''conserver society'' concept to Canada. Such a concept involves phenomena as increasing energy efficiency throughout society, encouraging energy conservation and use of renewable resources, and promoting life styles not needing a large consumption of goods or energy. Recent encouraging signs of energy conservation trends in Canada are offset by lags in the application of state of the art energy efficiency techniques in construction and manufacturing. Institutional barriers, such as division of conservation costs between building owners and renters, are also mentioned. Some institutional innovations are being implemented to overcome these constraints, however. Renewable energy options considered in this paper are limited to solar thermal energy and biomass. Waste recycling is also considered as an area of considerable potential. Renewable resources in Canada include forests and water, and expenditures to conserve these resources are seen as essential investments for the future, especially in view of the fact that impacts take years to appear. In the economic sphere, a number of developments are outlined, relating to conserver technologies (e.g. those that reduce environmental impacts while recovering materials or energy) and industries. The effect of conserver strategies on employment is also examined. A separate section of this report discusses Quebec, its cultural development and its approach to the conserver society; government actions have been taken with respect to forests, agricultural land, home energy use, recycling, and changing of public attitudes. 50 refs.

Energy efficiency in industry and transportation

International Nuclear Information System (INIS)

Ruscoe, J.

1990-01-01

The discussion of energy issues has changed since the 1970s as improvements have been made in energy efficiency. The present capacity for surplus energy production in economically advanced countries reflects a decrease in energy requirements as well as new production sources. At the same time, the energy crisis can be seen as having discouraged improvements in energy efficiency because of its negative impact on growth. And the centrally planned economies remain highly inefficient energy users. Economic growth encourages the use of new technologies which are likely to be less energy-intensive than those they replace. Permanent gains in energy efficiency are derived from structural changes in the economy and from the introduction of energy-efficient technologies. This article addresses the prospect of increased energy conservation, particularly in industry (the end-use which consumes the most energy) and transportation. Although investments in projects to promote energy conservation are more cost-effective and environment-friendly than investments in energy supply, there is still widespread support for the latter. Developing countries naturally give preference to quantitative growth, with an increasing consumption of energy, but in these countries, too, more efficient use of energy could greatly reduce demand. The policies of international development agencies which still favour increasing energy supply over conservation need to change. Awareness of the need to reduce energy demand is, however, growing worldwide. (author)

Energy conservation: an alternative for investment in the oil sector for OPEC member countries

International Nuclear Information System (INIS)

Zamani, M.

2005-01-01

Investment in the oil sector is the main policy of expanding net crude oil export capacity in OPEC Member Countries. The other alternative should be improving energy conservation policies. Since these countries benefit from cheap energy sources, it is reasonable to expect inefficient use of energy in their economies, resulting in relatively high energy intensity. This paper deals with the causality relationship between energy consumption and gross domestic product (GDP). First, stationary tests are run. Second, if there is a cointegrating relationship, an error correction model is applied; otherwise a standard Granger causality test is conducted. It was discovered that for all OPEC Member Countries we cannot statistically accept causality running from energy to GDP. Therefore, not only are proper conservation policies not a threat to economic growth, they also lead to an expansion of oil export capacity. (author)

Forecasting jobs in the supply chain for investments in residential energy efficiency retrofits in Florida

Science.gov (United States)

Fobair, Richard C., II

This research presents a model for forecasting the numbers of jobs created in the energy efficiency retrofit (EER) supply chain resulting from an investment in upgrading residential buildings in Florida. This investigation examined material supply chains stretching from mining to project installation for three product types: insulation, windows/doors, and heating, ventilating, and air conditioning (HVAC) systems. Outputs from the model are provided for the project, sales, manufacturing, and mining level. The model utilizes reverse-estimation to forecast the numbers of jobs that result from an investment. Reverse-estimation is a process that deconstructs a total investment into its constituent parts. In this research, an investment is deconstructed into profit, overhead, and hard costs for each level of the supply chain and over multiple iterations of inter-industry exchanges. The model processes an investment amount, the type of work and method of contracting into a prediction of the number of jobs created. The deconstruction process utilizes data from the U.S. Economic Census. At each supply chain level, the cost of labor is reconfigured into full-time equivalent (FTE) jobs (i.e. equivalent to 40 hours per week for 52 weeks) utilizing loaded labor rates and a typical employee mix. The model is sensitive to adjustable variables, such as percentage of work performed per type of product, allocation of worker time per skill level, annual hours for FTE calculations, wage rate, and benefits. This research provides several new insights into job creation. First, it provides definitions that can be used for future research on jobs in supply chains related to energy efficiency. Second, it provides a methodology for future investigators to calculate jobs in a supply chain resulting from an investment in energy efficiency upgrades to a building. The methodology used in this research is unique because it examines gross employment at the sub-industry level for specific

Industrial energy efficiency: the need for investment decision support from a manager perspective

International Nuclear Information System (INIS)

Sandberg, Peter; Soederstroem, Mats

2003-01-01

Global competition, commitment to the Kyoto Protocol and a deregulated, integrated European electricity market will in all probability increase the demand for energy efficiency on the part of companies in Sweden. Investment decisions are an important part of meeting the new demands, because they decide the future efficiency of industrial energy systems. The objective of this study is to investigate, from a managerial perspective, the need to improve decision support in some industries, which can help to facilitate and improve investment decisions concerning energy efficiency. This work has been conducted through in-depth interviews with representatives for a number of energy-intensive companies and non-energy-intensive companies from different sectors. One need that was identified was the improvement of working methods in order to support the decision-making process. Here, external players seem to be playing an increasingly important role. Access to correct information, better follow-up activities, and transparent, understandable calculations are also considered to be important. The study will form the foundation for subsequent work on decision support and energy efficiency in industry

Setting conservation priorities.

Science.gov (United States)

Wilson, Kerrie A; Carwardine, Josie; Possingham, Hugh P

2009-04-01

A generic framework for setting conservation priorities based on the principles of classic decision theory is provided. This framework encapsulates the key elements of any problem, including the objective, the constraints, and knowledge of the system. Within the context of this framework the broad array of approaches for setting conservation priorities are reviewed. While some approaches prioritize assets or locations for conservation investment, it is concluded here that prioritization is incomplete without consideration of the conservation actions required to conserve the assets at particular locations. The challenges associated with prioritizing investments through time in the face of threats (and also spatially and temporally heterogeneous costs) can be aided by proper problem definition. Using the authors' general framework for setting conservation priorities, multiple criteria can be rationally integrated and where, how, and when to invest conservation resources can be scheduled. Trade-offs are unavoidable in priority setting when there are multiple considerations, and budgets are almost always finite. The authors discuss how trade-offs, risks, uncertainty, feedbacks, and learning can be explicitly evaluated within their generic framework for setting conservation priorities. Finally, they suggest ways that current priority-setting approaches may be improved.

Optimization of Energy Efficiency and Conservation in Green Building Design Using Duelist, Killer-Whale and Rain-Water Algorithms

Science.gov (United States)

Biyanto, T. R.; Matradji; Syamsi, M. N.; Fibrianto, H. Y.; Afdanny, N.; Rahman, A. H.; Gunawan, K. S.; Pratama, J. A. D.; Malwindasari, A.; Abdillah, A. I.; Bethiana, T. N.; Putra, Y. A.

2017-11-01

The development of green building has been growing in both design and quality. The development of green building was limited by the issue of expensive investment. Actually, green building can reduce the energy usage inside the building especially in utilization of cooling system. External load plays major role in reducing the usage of cooling system. External load is affected by type of wall sheathing, glass and roof. The proper selection of wall, type of glass and roof material are very important to reduce external load. Hence, the optimization of energy efficiency and conservation in green building design is required. Since this optimization consist of integer and non-linear equations, this problem falls into Mixed-Integer-Non-Linear-Programming (MINLP) that required global optimization technique such as stochastic optimization algorithms. In this paper the optimized variables i.e. type of glass and roof were chosen using Duelist, Killer-Whale and Rain-Water Algorithms to obtain the optimum energy and considering the minimal investment. The optimization results exhibited the single glass Planibel-G with the 3.2 mm thickness and glass wool insulation provided maximum ROI of 36.8486%, EUI reduction of 54 kWh/m2·year, CO2 emission reduction of 486.8971 tons/year and reduce investment of 4,078,905,465 IDR.

Conserving Water: The Untapped Alternative. Worldwatch Paper 67.

Science.gov (United States)

Postel, Sandra

This report addresses the global concern of water development and stresses the need for management of the water demand. Investments in water efficiency, recycling, and conservation are recommended over conventional water supply projects for greater cost behefits and production yield. Topic areas include: (1) water use trends in major crop…

77 FR 54839 - Energy Efficiency and Conservation Loan Program

Science.gov (United States)

2012-09-06

... CFR Parts 1710, 1717, 1721, 1724, and 1730 RIN 0572-AC19 Energy Efficiency and Conservation Loan..., proposing policies and procedures for loan and guarantee financial assistance in support of energy efficiency programs (EE Programs) sponsored and implemented by electric utilities for the benefit of rural...

Accounting conservatism,ultimate ownership and investment efficiency

Institute of Scientific and Technical Information of China (English)

Xiaodong Xu; Xia Wang; Nina Han

2012-01-01

Purpose-The purpose of this paper is to analyze and examine the role of accounting conservatism on firm investment behavior in China.Design/methodology/approach-By combining a developed theoretical framework and empirical study,this paper examines the impacts of accounting conservatism on firm investment.The sample and data are all collected from Wind and CAMAR databases.Findings-The paper finds that the association between accounting conservatism and capital expenditure is significantly positive when inside capital is not enough to use for investment,suggesting that conservatism can expend the level of investment by decreasing information asymmetry and cost of capital;however,the association between accounting conservatism and capital expenditure is significantly negative when inside capital is enough to use for investment,suggesting that conservatism can curtail the level of investment by mitigating the interest conflicts between management and outside shareholders and decreasing agency costs.Additionally,the paper finds that the severity of information asymmetry and agency problem affects the role of accounting conservatism on firm investment behaviour,and the association between accounting conservatism and capital expenditure is weaker for firms with ultimate ownership controller as local government or individuals.Originality/value-This is the first paper to analyze and examine the impacts of accounting conservatism on firm investment in China directly.The findings are also useful to explain the awkward predicament found by prior literature.

An analysis of heating and cooling conservation features in commercial buildings

International Nuclear Information System (INIS)

Sutherland, R.J.

1990-01-01

One purpose of this study is to estimate the relationship in commercial buildings between conservation investments, fuel prices, building occupancy and building characteristics for new buildings and for existing buildings. The data base is a nationwide survey of energy in commercial buildings conducted by the Energy Information Administration (EIA) in 1986. Some simple cross-tabulations indicate that conservation measures vary with building size, building age, type of building, and fuel used for building heating. Regression estimates of a conservation model indicate that the number of conservation features installed during construction is a positive function of the price of the heating fuel at the time of construction. Subsequent additions of conservation features are positively correlated with increases in heating fuel prices. Given the EIA projection of relatively stable future energy prices, the number of retrofits may not increase significantly. Also, energy efficiency in new buildings may not continue to increase relative to current new buildings. If fuel prices affect consumption via initial conservation investments, current fuel prices, marginal or average, are not the appropriate specification. The fuel price regression results indicate that conservation investments in new buildings are responsive to market signals. Retrofits are less responsive to market signals. The number of conservation features in a building is not statistically related to the type of occupancy (owner versus renter), which implies that conservation strategies are not impeded by the renting or leasing of buildings

Saving money vs investing money: Do energy ratings influence consumer demand for energy efficient goods?

International Nuclear Information System (INIS)

Panzone, Luca A.

2013-01-01

The article analyses economic barriers leading to the energy efficiency gap in the market for energy-using products by observing several million transactions in the UK over two years. The empirical exercise estimates AIDS models for refrigerators, washing machines, TVs, and light bulbs. Results indicate that market barriers are crucial in the demand for energy efficient options, and consumer response to changes in appliance prices, total expenditures, and energy prices depends on the possibility of behavioural adjustments in consumption. In contrast with the induced innovation hypothesis, current electricity prices can fail to induce innovation because of their short-term impact on disposable income, while consumers invest in energy efficiency when expecting electricity prices to rise in the future. - Highlights: • The article analyses economic barriers to energy efficiency in the UK. • Data refers to 2-year sales of refrigerators, washing machines, TV, and light bulbs. • Demand parameters by efficiency rating are estimated from four AIDS models. • Future (not present) electricity prices induce investments in energy efficiency. • Behavioural efficiency adjustments explain differences in market response

Investment inefficiency and the adoption of eco-innovations: The case of household energy efficiency technologies

International Nuclear Information System (INIS)

Diaz-Rainey, Ivan; Ashton, John K.

2015-01-01

This paper examines the factors determining household adoption of energy efficiency eco-innovations. We do so by testing hypotheses grounded in diffusion and finance theory and the literature on the barriers to energy efficiency. Using two large surveys of UK households, we explore the adoption of nine technologies. Our results indicate ‘investment inefficiency’ amongst household adopters occurs for two reasons. First, contrary to notions of rational choice, we find a negative relationship between the investment return of technologies and their level of diffusion. Second, we show adopters of these technologies display characteristics broadly consistent with diffusion theory, contradicting the prediction of finance theory that investment return, not individual characteristics, should drive adoption. We also find that policy has played a role in inducing the diffusion of these technologies and that tenure and spill-over effects are important in adoption. Finally, adoption is motivated more by a desire to save money than by environmental concern. We conclude by giving examples of how our research can lead to better policy timing and targeting. -- Highlights: •We explore the factors driving household adoption of energy efficiency technologies. •We employ two high quality nationally representative cross sectional surveys. •There is a negative relationship between investment return and level of diffusion. •Adopters display characteristics broadly consistent with diffusion theory. •Policy interventions, tenure effects and spill-over effects also influence adoption

资本性投资、融资来源与营运资本投资效率研究%Capital Investment,Financing Source and Working Capital Investment Efficiency

Institute of Scientific and Technical Information of China (English)

魏刚

2016-01-01

运用异质性随机边界模型定量测算了资本性投资及融资来源影响下的营运资本投资效率。结果表明：中国上市公司营运资本投资效率低于最优效率10％～26％，在非经济危机影响的年度中，资本性投资规模增长大的企业，其营运资本投资效率较低；内部融资和外部股权融资具有缓解融资约束和降低未来融资不确定性的作用，而债务融资会加剧融资约束程度，但可以降低未来融资不确定性。融资约束程度的改善有助于降低资本性投资对营运资本投资效率的影响。%Using the heteroscedastic stochastic frontier model , this paper measures the working capital investment efficiency under the influence of capital investment and financing sources .Results show that , the efficiency of working capital invest-ment in Chinese listing corporation is lower than the optimal efficiency of 10%~26%.During the years of the non-econom-ic crisis, working capital investment efficiency of enterprises is lower , which possess a large scale of capital investment .In-ternal financing and external equity financing can alleviate the financing constraints and reduce the uncertainty of the future ;debt financing will increase the degree of financing constraints , but can reduce the uncertainty of future financing .The im-provement of financing constraints could help to reduce the impact of capital investment on the efficiency of working capital investment .

Environmental service payments: evaluating biodiversity conservation trade-offs and cost-efficiency in the Osa Conservation Area, Costa Rica.

Science.gov (United States)

Barton, D N; Faith, D P; Rusch, G M; Acevedo, H; Paniagua, L; Castro, M

2009-02-01

The cost-efficiency of payments for environmental services (PES) to private landowners in the Osa Conservation Area, Costa Rica, is evaluated in terms of the trade-off between biodiversity representation and opportunity costs of conservation to agricultural and forestry land-use. Using available GIS data and an 'off-the-shelf' software application called TARGET, we find that the PES allocation criteria applied by authorities in 2002-2003 were more than twice as cost-efficient as criteria applied during 1999-2001. Results show that a policy relevant assessment of the cost-effectiveness of PES relative to other conservation policies can be carried out at regional level using available studies and GIS data. However, there are a number of data and conceptual limitations to using heuristic optimisation algorithms in the analysis of the cost-efficiency of PES. Site specific data on probabilities of land-use change, and a detailed specification of opportunity costs of farm land, labour and capital are required to use algorithms such as TARGET for ranking individual sites based on cost-efficiency. Despite its conceptual soundness for regional conservation analysis, biodiversity complementarity presents a practical challenge as a criterion for PES eligibility at farm level because it varies depending on the set of areas under PES contracts at any one time.

Intercity passenger transportation: energy efficiency and conservation case study

Energy Technology Data Exchange (ETDEWEB)

Khan, A.M.

1981-01-01

To demonstrate a methodology for energy analysis and to advance technical knowledge on the energy conservation potential in intercity passenger transportation, this paper reports findings of a case study of the Toronto-Ottawa-Montreal multimodal system. From a total (direct and indirect) energy perspective for origin-destination travel, energy efficiency and conservation potential of technological improvements, modal shifts and increased load factors are reported. 11 refs.

Targeting utility customers to improve energy savings from conservation and efficiency programs

International Nuclear Information System (INIS)

Taylor, Nicholas W.; Jones, Pierce H.; Kipp, M. Jennison

2014-01-01

Highlights: • Improving DSM program impacts by targeting high energy users. • DSM energy savings potential hinges on pre-participation performance. • Targeting can benefit different utilities and energy efficiency programs. • Overall performance can be improved by up to 250% via targeting strategies. - Abstract: Electric utilities, government agencies, and private interests in the US have committed and continue to invest substantial resources – including billions of dollars of financial capital – in the pursuit of energy efficiency and conservation through demand-side management (DSM) programs. While most of these programs are deemed to be cost effective, and therefore in the public interest, opportunities exist to improve cost effectiveness by targeting programs to those customers with the greatest potential for energy savings. This article details an analysis of three DSM programs offered by three Florida municipal electric utilities to explore such opportunities. First, we estimate programs’ energy savings impacts; second, we measure and compare energy savings across subgroups of program participants as determined by their pre-intervention energy performance, and third, we explore potential changes in program impacts that might be realized by targeting specific customers for participation in the DSM programs. All three programs resulted in statistically significant average (per-participant) energy savings, yet average savings varied widely, with the customers who performed best (i.e., most efficient) before the intervention saving the least energy and those who performed worst (i.e., least efficient) before the intervention saving the most. Assessment of alternative program participation scenarios with varying levels of customer targeting suggests that program impacts could be increased by as much as 80% for a professional energy audit program, just over 100% for a high-efficiency heat pump upgrade program, and nearly 250% for an attic insulation

White certificates — Energy efficiency programs under private information of consumers

International Nuclear Information System (INIS)

Wirl, Franz

2015-01-01

Energy efficiency is an objective of public interventions at least since the Public Utility Regulatory Policy Act of 1978 (PURPA). Recently, conservation has received considerable attention in the United States and in particular in the European Union but this time in order to mitigate global warming. Policy measures include regulations at the technical level and the introduction of white certificates in order to force utilities and firms to invest into conservation in a way similar to the already existing renewable energy quota. This paper derives the optimal mechanism if utilities must deal with white certificates facing consumers holding private information. The optimal mechanism has some theoretically interesting features like restricted participation and a discontinuity. - Highlights: • Energy efficiency programs are again an objective of public interventions. • White certificates force utilities to invest in conservation. • However, issues of private information are ignored. • Conservation program accounting for private information • The optimal contract has non-standard features like a discontinuity

Measuring the Socioeconomic and Environmental Effects of Energy Efficiency Investments for a More Sustainable Spanish Economy

Directory of Open Access Journals (Sweden)

Ana Medina

2016-10-01

Full Text Available We present here an application of a multisector economic model to simulate the impact of investing in energy-efficiency-related sectors. Given the value chain of energy production shows several aspects to be improved, this paper intends to identify the economic sectors where investment should be allocated in order to reach the targeted energy efficiency levels in the overall economic system. We expect that an improvement in energy efficiency will bring a fall in electricity demand. Simulating these impacts will enable an assessment of the macroeconomic effects of such demand-side changes in Spain. For simulation purposes, we will use input–output methodology, based on data from a Spanish input–output table from the year 2012 that we have constructed. The scenario used for modeling has been obtained from the objectives proposed by the European Union for 2030, specifically the one promoting an increase to at least a 27% increase in energy efficiency compared with the business-as-usual scenario. This demand-side model enables us to measure the potential sector-by-sector growth of the Spanish economy and to calculate households’ expected savings in energy bills due to the implementation of energy efficiency measures. The impacts of employment and CO2 emissions are also quantified as a result of the investments aimed at improving energy efficiency.

Indian energy conservation- status and strategies

International Nuclear Information System (INIS)

Dharmalingam, P.

1996-01-01

High rates of inflation combined with social justice against a backdrop of ever increasing population- this is a challenge which the Government of India is facing today. It is evident that the annual growth rate of 5.6% as envisaged for the VIIIth five year plan can never be met unless conscious efforts are made to augment energy supplies by energy demand management through energy conservation. In this context, a review of the energy consuming sectors in terms of their consumption trends, energy efficiencies or intensities, energy conservation opportunities, technologies used and energy investment programmes would prove useful and informative. (author). 10 tabs

Public-Private Investment Partnerships: Efficiency Estimation Methods

Directory of Open Access Journals (Sweden)

Aleksandr Valeryevich Trynov

2016-06-01

Full Text Available The article focuses on assessing the effectiveness of investment projects implemented on the principles of public-private partnership (PPP. This article puts forward the hypothesis that the inclusion of multiplicative economic effects will increase the attractiveness of public-private partnership projects, which in turn will contribute to the more efficient use of budgetary resources. The author proposed a methodological approach and methods of evaluating the economic efficiency of PPP projects. The author’s technique is based upon the synthesis of approaches to evaluation of the project implemented in the private and public sector and in contrast to the existing methods allows taking into account the indirect (multiplicative effect arising during the implementation of project. In the article, to estimate the multiplier effect, the model of regional economy — social accounting matrix (SAM was developed. The matrix is based on the data of the Sverdlovsk region for 2013. In the article, the genesis of the balance models of economic systems is presented. The evolution of balance models in the Russian (Soviet and foreign sources from their emergence up to now are observed. It is shown that SAM is widely used in the world for a wide range of applications, primarily to assess the impact on the regional economy of various exogenous factors. In order to clarify the estimates of multiplicative effects, the disaggregation of the account of the “industry” of the matrix of social accounts was carried out in accordance with the All-Russian Classifier of Types of Economic Activities (OKVED. This step allows to consider the particular characteristics of the industry of the estimated investment project. The method was tested on the example of evaluating the effectiveness of the construction of a toll road in the Sverdlovsk region. It is proved that due to the multiplier effect, the more capital-intensive version of the project may be more beneficial in

Energy conservation and efficiency in manufacturing: Employee decisions and actions

Science.gov (United States)

Corson, Marla D.

Energy conservation and intensity reduction efforts are becoming increasingly more prevalent and ultimately necessary, especially for energy-intensive manufacturing companies in particular to stay in business. Typical actions are to change technology, and thus, realize an energy cost savings in overall utilities. However, in today's competitive market, with climate change and other environmental impacts as well, it is necessary for the cost of energy to be valued as a cost of making a product, and thus, managed at the same level as the cost of labor or materials. This research assessed human behavior at the individual and organizational levels both at work and at home that either prompted or prohibited employees from taking daily action to conserve energy or develop greater energy efficient practices. Ultimately, the questions began with questions regarding employee views and knowledge of energy at work and at home and what drives both behaviors toward conservation or efficiency. And, the contribution identifies the key drivers, barriers, and/or incentives that affect those behaviors. The results of this study show that the key driver and motivator for energy conservation both at home and work is cost savings. The study showed that to further motivate individuals to conserve energy at home and work, more knowledge of the impact their actions have or could have as well as tools would be needed. The most poinient aspect of the research was the level of importance placed on energy conservation and the desire to conserve. The feedback given to the open ended questions was quite impressive regarding what employees have done and continue to do particularly within their homes to conserve energy. These findings brought about final recommendations that were in fact not expected but could significantly influence an increase in energy conservation at work by leveraging the existing desire to conserve which is a key component to decision making.

Oscillating between Conservation and Investment: A Grounded Theory of Students’ Strategies for Optimizing Personal Resources

Directory of Open Access Journals (Sweden)

Katja Hakel

2015-06-01

Full Text Available Students’ use of time and effort during their studies has been discussed exhaustively in mass media and educational research. In most cases, researchers try to give advice to teachers on how to get their students to become more active and engaged. The grounded theory presented in this article, however, challenges this approach by focusing on the students’ point of view. When interviewing students for this study, I soon realized that students only have a limited amount of time and effort at their disposal. Optimizing these personal resources emerged as their main concern. For the students, investing resources into one study activity always means having to reduce the amount of time and effort they can spend on other activities. They resolve their main concern by oscillating between conservation and investment strategies. Their decision regarding which type of strategy to use depends strongly on the students’ evaluation of their current situation.

Employment impacts of energy conservation schemes in the residential sector. Calculation of direct and indirect employment effects using a dedicated input/output simulation approach

International Nuclear Information System (INIS)

Jeeninga, H.; Weber, C.; Maeenpaeae, I.; Rivero Garcia, F.; Wiltshire, V.; Wade, J.

1999-10-01

The relationship between investments in energy efficiency and employment is investigated. The employment effects of several energy conservation schemes implemented in the residential sector are determined by means of a dedicated input/output simulation approach. The employment effects of energy conservation schemes were determined for France, Germany, the Netherlands, Spain and the United Kingdom. Within the time frame of the project, it was not feasible to perform a comparable analysis for Greece, Ireland and Austria. For Finland, the employment effects of energy auditing schemes were investigated by means of a macro economic simulation model. The main driving force behind the positive employment effect of investment in energy efficiency in the residential sector is the fact that the energy sector has a rather low labour intensity. The resulting shift of expenditures from the energy sector to other sectors with higher labour intensity leads to increased employment. The main mechanisms that determine the net shift in employment resulting from investments in energy conservation are: 1. The employment effect related to the initial investment in energy efficiency; 2. The energy saving effect. Due to lower energy bill, a shift in expenditure pattern will occur from the labour extensive energy sector towards sectors with higher labour intensity, thus inducing a net positive effect on employment; 3. The effects of money transfers between sectors. For example, when the investment is subsidised by the government, money is transferred from the governmental sector to the residential sector; 4. Changes in the total government budget as a result of changes in total tax revenue and expenditures on unemployment benefits. Different financing methods for the investment in energy efficiency are analysed. The initial investment can be financed from the general household consumption budget, by means of a loan, using a subsidy or using private savings. The following input parameters

Econometric estimation of investment utilization, adjustment costs, and technical efficiency in Danish pig farms using hyperbolic distance functions

DEFF Research Database (Denmark)

Henningsen, Arne; Fabricius, Ole; Olsen, Jakob Vesterlund

2014-01-01

Based on a theoretical microeconomic model, we econometrically estimate investment utilization, adjustment costs, and technical efficiency in Danish pig farms based on a large unbalanced panel dataset. As our theoretical model indicates that adjustment costs are caused both by increased inputs...... of investment activities by the maximum likelihood method so that we can estimate the adjustment costs that occur in the year of the investment and the three following years. Our results show that investments are associated with significant adjustment costs, especially in the year in which the investment...

Report on energy conservation. Potential feasibility study on energy conservation at the national textile factories (Energy-saving equipment)

Energy Technology Data Exchange (ETDEWEB)

NONE

2001-03-01

In consideration of the future CDM project, feasibility study was made on the energy conservation/cost reduction in national textile factories in Egypt. In textile factories in Egypt, the steam by oil fueled boiler is used in dyeing, drying and other production processes. In this study, studied were the energy conservation effect, greenhouse effect gas reduction effect and economical efficiency in the case of using electric power/steam by the natural gas fueled cogeneration system. As a result of the study, the energy conservation effect in 6 national textile factories became 13% on average, which equals to the conservation of 15,000 toe per year. The greenhouse effect gas reduction effect also became 13%, which equals to the reduction of approximately 46,000 t-CO2 per year. As to the economical efficiency, the depreciation period of investment became 4.0-8.6 years (5.6 years on average). In the light of the operation period of cogeneration facilities of 15 years, it was indicated that the system was very advantageous. (NEDO)

Selling energy conservation.

Science.gov (United States)

Hinrichsen, D

1995-01-01

This article concerns the Organization of the Petroleum Exporting Countries (OPEC) crisis and its impact on energy efficiency measures in the US. In 1985, when the OPEC collapsed, the US government had avoided the need to construct 350 gigawatts of new electric capacity. The most successful efficiency improvements, especially in household appliances and equipment, lighting and tightened energy efficiency standards in new buildings, resulted from the OPEC event. The real innovation of that time was the change in profit rules for utilities. This revolution and the way some US utilities view energy have not caught on elsewhere. Despite the initiative toward improving energy efficiency in homes, offices and industries, the change has been slow. Partly to blame are the big development banks, which pointed out that short-term conservation and efficiency measures could save at least 15% of the total energy demand without the need for major investment. The benefits of energy conservation was shown during the oil shock when per capita energy consumption fell by 5% in the member states of the Organization of Economic Cooperation and Development, while the per capita gross domestic product grew by a third. There has been a decrease in energy expenditure worldwide, and the scope for further energy savings is enormous, but governments need to recognize and seize the opportunity.

Efficiency of protected areas in Amazon and Atlantic Forest conservation: A spatio-temporal view

Science.gov (United States)

Sobral-Souza, Thadeu; Vancine, Maurício Humberto; Ribeiro, Milton Cezar; Lima-Ribeiro, Matheus S.

2018-02-01

The Amazon and Atlantic Forest are considered the world's most biodiverse biomes. Human and climate change impacts are the principal drivers of species loss in both biomes, more severely in the Atlantic Forest. In response to species loss, the main conservation action is the creation of protected areas (PAs). Current knowledge and research on the PA network's conservation efficiency is scarce, and existing studies have mainly considered a past temporal view. In this study, we tested the efficiency of the current PA network to maintain climatically stable areas (CSAs) across the Amazon and Atlantic Forest. To this, we used an ecological niche modeling approach to biome and paleoclimatic simulations. We propose three categories of conservation priority areas for both biomes, considering CSAs, PAs and intact forest remnants. The biomes vary in their respective PA networks' protection efficiency. Regarding protect CSAs, the Amazon PA network is four times more efficient than the Atlantic Forest PA network. New conservation efforts in these two forest biomes require different approaches. We discussed the conservation actions that should be taken in each biome to increase the efficiency of the PA network, considering both the creation and expansion of PAs as well as restoration programs.

河南省水利投融资结构及其与GDP关系分析%Structure of Water Conservancy Investment and Financing in Relation to GDP in Henan Province

Institute of Scientific and Technical Information of China (English)

岳伟丽

2015-01-01

Evaluation on the current mode and economic benefits of water conservancy investment and financing is the premise of its system reform. Based on the water conservancy investment and financing data during the period of 1991—2010 in Henan Province,this study firstly analyzed the sources of funds and the structure of water conservancy investment and financing,and then discussed its trends in recent 20 years. Finally,water conservancy investment and financing in relation to GDP was quantitatively evaluated. The results show that water con-servancy investment funds in Henan Province mainly come from three channels of the investment in the central,provincial and local self fi-nancing investment;the national debt has become an important source of investment in a certain period of time. Although in recent years the investment and financing has a diversification trend,but other financing sources of funds are still relatively small proportion. In recent 10 years,investment in the central and provincial investment and other investments are increased with increment of GDP. In addition to other in-vestments,water conservancy investments and financings in relation to GDP are binomial or exponential relationship.%评价当前水利投融资方式及其经济效益是开展水利投融资体制改革的前提。以河南省为例，基于1991—2010年水利投融资数据，分析了水利投融资的资金来源与结构，探讨了近20 a来水利主要投融资资金变化趋势，定量分析了各项投融资资金与GDP的关系。结果表明：河南省水利投融资资金主要来源于中央投资、省级投资和地方自筹3个渠道，国债在一定时期成为投资的重要来源。尽管近年来河南省水利投融资呈现多元化趋势，但其他投融资资金所占比例还相对较小。中央投资、省级投资及其他投资均随GDP的增长而增加；总投资、中央投资、省级投资与GDP之间具有�

Political ideology affects energy-efficiency attitudes and choices.

Science.gov (United States)

Gromet, Dena M; Kunreuther, Howard; Larrick, Richard P

2013-06-04

This research demonstrates how promoting the environment can negatively affect adoption of energy efficiency in the United States because of the political polarization surrounding environmental issues. Study 1 demonstrated that more politically conservative individuals were less in favor of investment in energy-efficient technology than were those who were more politically liberal. This finding was driven primarily by the lessened psychological value that more conservative individuals placed on reducing carbon emissions. Study 2 showed that this difference has consequences: In a real-choice context, more conservative individuals were less likely to purchase a more expensive energy-efficient light bulb when it was labeled with an environmental message than when it was unlabeled. These results highlight the importance of taking into account psychological value-based considerations in the individual adoption of energy-efficient technology in the United States and beyond.

Political ideology affects energy-efficiency attitudes and choices

Science.gov (United States)

Gromet, Dena M.; Kunreuther, Howard; Larrick, Richard P.

2013-01-01

This research demonstrates how promoting the environment can negatively affect adoption of energy efficiency in the United States because of the political polarization surrounding environmental issues. Study 1 demonstrated that more politically conservative individuals were less in favor of investment in energy-efficient technology than were those who were more politically liberal. This finding was driven primarily by the lessened psychological value that more conservative individuals placed on reducing carbon emissions. Study 2 showed that this difference has consequences: In a real-choice context, more conservative individuals were less likely to purchase a more expensive energy-efficient light bulb when it was labeled with an environmental message than when it was unlabeled. These results highlight the importance of taking into account psychological value-based considerations in the individual adoption of energy-efficient technology in the United States and beyond. PMID:23630266

Estimates of the potential for energy conservation in the Chinese steel industry

International Nuclear Information System (INIS)

Lin Boqiang; Wu Ya; Zhang Li

2011-01-01

The study evaluates the energy saving potential of the Chinese steel industry by studying its potential future energy efficiency gap. In order to predict the future energy efficiency gap, a multivariate regression model combined with risk analysis is developed to estimate future energy intensity of China's steel industry. It is found that R and D intensity, energy saving investment, labor productivity and industry concentration are all important variables that affect energy intensity. We assess the possible measures as to how China's steel industry can narrow the energy efficiency gap with Japan by means of scenario analysis. Using Japan's current energy efficiency level as baseline, the energy saving potential of China's steel industry is more than 200 million ton coal equivalent in 2008, and it would fall to zero in 2020. However, if greater efforts were made to conserve energy, it would be possible to narrow down the energy efficiency gap between China and Japan by around 2015. Finally, using the results of the scenario analysis, future policy priorities for energy conservation in China's steel industry are assessed in this paper. - Highlights: → The energy saving potential of the Chinese steel industry is evaluated. → A multivariate regression model combined with risk analysis is developed. → R and D, energy saving investment, labor, and structure affect energy intensity.→ The energy saving potential of China's steel industry would fall to zero in 2020.→ Future policy for energy conservation in China's steel industry are assessed.

METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

OpenAIRE

I. Magdych

2015-01-01

The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their o...

Career concerns, shareholder monitoring and investment efficiency: From the perspective of compensation contract rigidity in Chinese SOEs

Directory of Open Access Journals (Sweden)

Hualin Wan

2015-03-01

Full Text Available This paper presents theoretical analysis of how career concerns and shareholder monitoring affect chief executive officer (CEO agency costs. We investigate investment efficiency prior to CEO retirement based on a sample of Chinese state-owned enterprises (SOEs during the 1999–2007 period and find that there is a significant decline in investment efficiency prior to CEO retirement, relative to other periods, and that this decline becomes less significant under stronger shareholder supervision. Our research furthers understanding of the significance of SOE incentive and monitoring mechanisms.

S.1305: This Act may be cited as the Conservation and Energy Efficient Investment Act of 1991, introduced in the Senate of the United States, One Hundred Second Congress, First Session, June 17, 1991

International Nuclear Information System (INIS)

Anon.

1991-01-01

This bill would amend the Internal Revenue Code of 1986 to encourage consumer participation in energy efficiency, conservation and cost-effective demand-side management by excluding from gross income payments made by utilities to customers for purchasing qualified energy conservation appliances and for taking energy conservation measures. Qualified energy conservation measures are defined in the National Energy Conservation Policy Act

Efficient decision-making by volume-conserving physical object

International Nuclear Information System (INIS)

Kim, Song-Ju; Aono, Masashi; Nameda, Etsushi

2015-01-01

Decision-making is one of the most important intellectual abilities of not only humans but also other biological organisms, helping their survival. This ability, however, may not be limited to biological systems and may be exhibited by physical systems. Here we demonstrate that any physical object, as long as its volume is conserved when coupled with suitable operations, provides a sophisticated decision-making capability. We consider the multi-armed bandit problem (MBP), the problem of finding, as accurately and quickly as possible, the most profitable option from a set of options that gives stochastic rewards. Efficient MBP solvers are useful for many practical applications, because MBP abstracts a variety of decision-making problems in real-world situations in which an efficient trial-and-error is required. These decisions are made as dictated by a physical object, which is moved in a manner similar to the fluctuations of a rigid body in a tug-of-war (TOW) game. This method, called ‘TOW dynamics’, exhibits higher efficiency than conventional reinforcement learning algorithms. We show analytical calculations that validate statistical reasons for TOW dynamics to produce the high performance despite its simplicity. These results imply that various physical systems in which some conservation law holds can be used to implement an efficient ‘decision-making object’. The proposed scheme will provide a new perspective to open up a physics-based analog computing paradigm and to understanding the biological information-processing principles that exploit their underlying physics. (paper)

Fine-resolution conservation planning with limited climate-change information.

Science.gov (United States)

Shah, Payal; Mallory, Mindy L; Ando, Amy W; Guntenspergen, Glenn R

2017-04-01

Climate-change induced uncertainties in future spatial patterns of conservation-related outcomes make it difficult to implement standard conservation-planning paradigms. A recent study translates Markowitz's risk-diversification strategy from finance to conservation settings, enabling conservation agents to use this diversification strategy for allocating conservation and restoration investments across space to minimize the risk associated with such uncertainty. However, this method is information intensive and requires a large number of forecasts of ecological outcomes associated with possible climate-change scenarios for carrying out fine-resolution conservation planning. We developed a technique for iterative, spatial portfolio analysis that can be used to allocate scarce conservation resources across a desired level of subregions in a planning landscape in the absence of a sufficient number of ecological forecasts. We applied our technique to the Prairie Pothole Region in central North America. A lack of sufficient future climate information prevented attainment of the most efficient risk-return conservation outcomes in the Prairie Pothole Region. The difference in expected conservation returns between conservation planning with limited climate-change information and full climate-change information was as large as 30% for the Prairie Pothole Region even when the most efficient iterative approach was used. However, our iterative approach allowed finer resolution portfolio allocation with limited climate-change forecasts such that the best possible risk-return combinations were obtained. With our most efficient iterative approach, the expected loss in conservation outcomes owing to limited climate-change information could be reduced by 17% relative to other iterative approaches. © 2016 Society for Conservation Biology.

Livelihood Implications and Perceptions of Large Scale Investment in Natural Resources for Conservation and Carbon Sequestration : Empirical Evidence from REDD+ in Vietnam

NARCIS (Netherlands)

Bayrak, Mucahid Mustafa; Marafa, Lawal Mohammed

2017-01-01

The complex relationship between local development and current large scale investments in natural resources in the Global South for the purpose of conservation and carbon sequestration is not fully understood yet. The Reducing Emissions from Deforestation and Forest Degradation programme (REDD+) is

Identification and quantification of principal–agent problems affecting energy efficiency investments and use decisions in the trucking industry

International Nuclear Information System (INIS)

Vernon, David; Meier, Alan

2012-01-01

Energy related Principal–Agent (PA) problems cause inefficient combinations of investment, operating costs, and usage behavior. The complex market structure of the trucking industry contributes to split incentives because entities responsible for investments in energy efficiency do not always pay fuel costs and drivers are often not rewarded for fuel-efficient operation. Some contractual relationships exist in the trucking industry that hinder responses to fuel price signals. Up to 91% of total trucking fuel consumption in the U.S. is affected by “usage” PA problems, where the driver does not pay fuel costs and lacks incentive for fuel saving operation. Approximately 23% of trailers are exposed to an “efficiency problem” when owners of rented trailers do not pay fuel costs and therefore have little incentive to invest in efficiency upgrades such as improved trailer aerodynamics and reduced tire rolling resistance. This study shows that PA problems have the potential to significantly increase fuel consumption through avoided investments, insufficient maintenance, and fuel-wasting practices. Further research into the causes and effects of PA problems can shape policies to promote better alignment of costs and benefits, leading to reduced fuel use and carbon emissions. - Highlights: ► We identify and quantify principal agent market failures in the trucking industry. ► Up to 91% of truck fuel consumption is exposed to a usage principal–agent market failure. ► Twenty-three percent of trailers are exposed to an efficiency principal–agent market failure. ► These market failures at least partially insulate key decision makers from fuel price signals.

78 FR 8444 - Energy Efficiency and Conservation Loan Program Programmatic Environmental Assessment

Science.gov (United States)

2013-02-06

... DEPARTMENT OF AGRICULTURE Rural Utilities Service 7 CFR Part 1710 Energy Efficiency and... new program that will implement the Energy Efficiency and Conservation Loan Program (EE). The PEA is... 12 to authorize energy audits and energy efficiency measures and devices to reduce demand on electric...

77 FR 14509 - State Energy Program and Energy Efficiency and Conservation Block Grant (EECBG) Program; Request...

Science.gov (United States)

2012-03-12

... DEPARTMENT OF ENERGY [Docket No. EESEP0216] State Energy Program and Energy Efficiency and Conservation Block Grant (EECBG) Program; Request for Information AGENCY: Office of Energy Efficiency and... (SEP) and Energy Efficiency and Conservation Block Grant (EECBG) program, in support of energy...

Evaluating the return in ecosystem services from investment in public land acquisitions.

Directory of Open Access Journals (Sweden)

Kent Kovacs

Full Text Available We evaluate the return on investment (ROI from public land conservation in the state of Minnesota, USA. We use a spatially-explicit modeling tool, the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST, to estimate how changes in land use and land cover (LULC, including public land acquisitions for conservation, influence the joint provision and value of multiple ecosystem services. We calculate the ROI of a public conservation acquisition as the ratio of the present value of ecosystem services generated by the conservation to the cost of the conservation. For the land scenarios analyzed, carbon sequestration services generated the greatest benefits followed by water quality improvements and recreation opportunities. We found ROI values ranged from 0.21 to 5.28 depending on assumptions about future land use change, service values, and discount rate. Our study suggests conservation is a good investment as long as investments are targeted to areas with low land costs and high service values.

Evaluating the Return in Ecosystem Services from Investment in Public Land Acquisitions

Science.gov (United States)

Kovacs, Kent; Polasky, Stephen; Nelson, Erik; Keeler, Bonnie L.; Pennington, Derric; Plantinga, Andrew J.; Taff, Steven J.

2013-01-01

We evaluate the return on investment (ROI) from public land conservation in the state of Minnesota, USA. We use a spatially-explicit modeling tool, the Integrated Valuation of Ecosystem Services and Tradeoffs (InVEST), to estimate how changes in land use and land cover (LULC), including public land acquisitions for conservation, influence the joint provision and value of multiple ecosystem services. We calculate the ROI of a public conservation acquisition as the ratio of the present value of ecosystem services generated by the conservation to the cost of the conservation. For the land scenarios analyzed, carbon sequestration services generated the greatest benefits followed by water quality improvements and recreation opportunities. We found ROI values ranged from 0.21 to 5.28 depending on assumptions about future land use change, service values, and discount rate. Our study suggests conservation is a good investment as long as investments are targeted to areas with low land costs and high service values. PMID:23776429

Energy conservation and management system using efficient building automation

Science.gov (United States)

Ahmed, S. Faiz; Hazry, D.; Tanveer, M. Hassan; Joyo, M. Kamran; Warsi, Faizan A.; Kamarudin, H.; Wan, Khairunizam; Razlan, Zuradzman M.; Shahriman A., B.; Hussain, A. T.

2015-05-01

In countries where the demand and supply gap of electricity is huge and the people are forced to endure increasing hours of load shedding, unnecessary consumption of electricity makes matters even worse. So the importance and need for electricity conservation increases exponentially. This paper outlines a step towards the conservation of energy in general and electricity in particular by employing efficient Building Automation technique. It should be noted that by careful designing and implementation of the Building Automation System, up to 30% to 40% of energy consumption can be reduced, which makes a huge difference for energy saving. In this study above mentioned concept is verified by performing experiment on a prototype experimental room and by implementing efficient building automation technique. For the sake of this efficient automation, Programmable Logic Controller (PLC) is employed as a main controller, monitoring various system parameters and controlling appliances as per required. The hardware test run and experimental findings further clarifies and proved the concept. The added advantage of this project is that it can be implemented to both small and medium level domestic homes thus greatly reducing the overall unnecessary load on the Utility provider.

Optimal conservation of migratory species.

Directory of Open Access Journals (Sweden)

Tara G Martin

Full Text Available BACKGROUND: Migratory animals comprise a significant portion of biodiversity worldwide with annual investment for their conservation exceeding several billion dollars. Designing effective conservation plans presents enormous challenges. Migratory species are influenced by multiple events across land and sea-regions that are often separated by thousands of kilometres and span international borders. To date, conservation strategies for migratory species fail to take into account how migratory animals are spatially connected between different periods of the annual cycle (i.e. migratory connectivity bringing into question the utility and efficiency of current conservation efforts. METHODOLOGY/PRINCIPAL FINDINGS: Here, we report the first framework for determining an optimal conservation strategy for a migratory species. Employing a decision theoretic approach using dynamic optimization, we address the problem of how to allocate resources for habitat conservation for a Neotropical-Nearctic migratory bird, the American redstart Setophaga ruticilla, whose winter habitat is under threat. Our first conservation strategy used the acquisition of winter habitat based on land cost, relative bird density, and the rate of habitat loss to maximize the abundance of birds on the wintering grounds. Our second strategy maximized bird abundance across the entire range of the species by adding the constraint of maintaining a minimum percentage of birds within each breeding region in North America using information on migratory connectivity as estimated from stable-hydrogen isotopes in feathers. We show that failure to take into account migratory connectivity may doom some regional populations to extinction, whereas including information on migratory connectivity results in the protection of the species across its entire range. CONCLUSIONS/SIGNIFICANCE: We demonstrate that conservation strategies for migratory animals depend critically upon two factors: knowledge of

Improving Energy Efficiency Through Technology. Trends, Investment Behaviour and Policy Design

Energy Technology Data Exchange (ETDEWEB)

Florax, R.J.G.M. [Purdue University, West Lafayette, IN (United States); De Groot, H.L.F. [VU University, Amsterdam (Netherlands); Mulder, P. [Tinbergen Institute, Amsterdam (Netherlands)] (eds.)

2011-10-15

This innovative book explores the adoption of energy-saving technologies and their impact on energy efficiency improvements. It contains a mix of theoretical and empirical contributions, and combines and compares economic and physical indicators to monitor and analyse trends in energy efficiency. The authors pay considerable attention to empirical research on the determinants of energy-saving investment including uncertainty, energy-price volatility and subsidies. They also discuss the role of energy modelling in policy design and the potential effect of energy policies on technology diffusion in energy-extensive sectors. Written from a multi-disciplinary perspective, this book will appeal to academics and graduates in the areas of energy-saving technologies, energy economics and natural resource economics, as well as policy makers - particularly those in energy policy.

Business cycle and economic-wide energy intensity: The implications for energy conservation policy in Algeria

International Nuclear Information System (INIS)

Adom, Philip Kofi

2015-01-01

Despite the prevalence of voluntary and involuntary energy conservation policies, developing countries in Africa continue to struggle to achieve energy efficiency targets. Consequently, energy intensity levels have risen threatening the security of the energy system. This raises the important question: is there an economic state that induces agents to be energy conscious? In this study, we study the case of Algeria's energy intensity from 1971 to 2010. First, the paper argues that there is a certain economic state that economic agents find investing in energy conservation a viable option. Any state different from that would mean not investing in energy conservation. Second, the paper argues that the economy can do better even with an infinitesimal reduction in fuel subsidy, and that the gains in revenue from the policy can compensate for the negative socio-economic and equity impacts associated with such a policy. Third, the paper argues that, so long as, industrial expansion in the country move parallel with investment in technological innovation, long-term sustainable growth and energy conservation targets are jointly feasible. Fourth, the paper shows that income elasticity evolves with the business cycle, and the absorptive capability of the host country affects how FDI (foreign direct inflows) impact energy intensity. - Highlights: • Low income states inhibit fuel substitution and investment in energy conservation. • Income elasticity evolves as we pass through boom and recessionary periods. • The goals of sustainable growth and energy conservation are not mutually exclusive. • Absorptive capability affects the impact of FDI on energy intensity

METHODOLOGICAL APPROACHES TO THE ANALYSIS OF EFFICIENCY OF CASH FLOW MANAGEMENT IN INVESTMENT ACTIVITY OF THE ENTERPRISES

Directory of Open Access Journals (Sweden)

I. Magdych

2015-06-01

Full Text Available The article explores the methodological approaches to the analysis of cash flows in investment activity of the enterprise; the system of motion net cash flows, reflecting the impact of cash management efficiency on the amount and source of investment cash flows of the enterprise; analytical model of definition of effectiveness of cash management of the enterprise is proposed, based on the selected principals of modeling, comprehensive analysis of cash flows in investing activities and their optimization for the purpose of maximization of social and economic benefit. The research performed here allowed generalization and definition of stages of analysis for investing cash flow of the enterprise with the appropriate reasoning. It is necessary that research is going concern in this direction of effectiveness valuation of cash flow management in investing activity of the enterprise.

Investments

CERN Document Server

Bodie, Zvi

2013-01-01

The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. McGraw-Hill's adaptive learning component, LearnSmart, provides assignable modules that help students master chapter core concepts and come to class more prepared. Bodie Investments' blend of practical and theoretical coverage combines with a complete digital solution to help your students achieve higher outcomes in the course

Investing in Threatened Species Conservation: Does Corruption Outweigh Purchasing Power?

OpenAIRE

Garnett, Stephen T.; Joseph, Liana N.; Watson, James E. M.; Zander, Kerstin K.

2011-01-01

In many sectors, freedom in capital flow has allowed optimization of investment returns through choosing sites that provide the best value for money. These returns, however, can be compromised in countries where corruption is prevalent. We assessed where the best value for money might be obtained for investment in threatened species that occur at a single site, when taking into account corruption. We found that the influence of corruption on potential investment decisions was outweighed by th...

Energy conservation potential in China’s petroleum refining industry: Evidence and policy implications

International Nuclear Information System (INIS)

Lin, Boqiang; Xie, Xuan

2015-01-01

Highlights: • A long-term equilibrium relationship of energy demand in China’s petroleum refining industry is established. • The sectoral energy conservation potential is evaluated by using scenarios analysis. • Energy prices, enterprise scale, R and D investment and ownership structure affect electricity intensity. • Future policy for energy conservation in China’s petroleum refining industry is suggested. - Abstract: China is currently the second largest petroleum refining country in the world due to rapid growth in recent years. Because the petroleum refining industry is energy-intensive, the rapid growth in petroleum refining and development caused massive energy consumption. China’s urbanization process will guarantee sustained growth of the industry for a long time. Therefore, it is necessary to study the energy conservation potential of the petroleum industry. This paper estimates the energy conservation potential of the industry by applying a cointegration model to investigate the long-run equilibrium relationship between energy consumption and some factors such as energy price, enterprise scale, R and D investment and ownership structure. The results show that R and D investment has the greatest reduction impact on energy intensity, and the growth of market participants (i.e. the decline of the share of state-owned companies) can improve energy efficiency of this industry. Under the advanced energy-saving scenario, the accumulated energy conservation potential will reach 230.18 million tons of coal equivalent (tce). Finally, we provide some targeted policy recommendations for industrial energy conservation

Combined Use of Systematic Conservation Planning, Species Distribution Modelling, and Connectivity Analysis Reveals Severe Conservation Gaps in a Megadiverse Country (Peru)

Science.gov (United States)

Fajardo, Javier; Lessmann, Janeth; Bonaccorso, Elisa; Devenish, Christian; Muñoz, Jesús

2014-01-01

Conservation planning is crucial for megadiverse countries where biodiversity is coupled with incomplete reserve systems and limited resources to invest in conservation. Using Peru as an example of a megadiverse country, we asked whether the national system of protected areas satisfies biodiversity conservation needs. Further, to complement the existing reserve system, we identified and prioritized potential conservation areas using a combination of species distribution modeling, conservation planning and connectivity analysis. Based on a set of 2,869 species, including mammals, birds, amphibians, reptiles, butterflies, and plants, we used species distribution models to represent species' geographic ranges to reduce the effect of biased sampling and partial knowledge about species' distributions. A site-selection algorithm then searched for efficient and complementary proposals, based on the above distributions, for a more representative system of protection. Finally, we incorporated connectivity among areas in an innovative post-hoc analysis to prioritize those areas maximizing connectivity within the system. Our results highlight severe conservation gaps in the Coastal and Andean regions, and we propose several areas, which are not currently covered by the existing network of protected areas. Our approach helps to find areas that contribute to creating a more representative, connected and efficient network. PMID:25479411

Fine‐resolution conservation planning with limited climate‐change information

Science.gov (United States)

Shah, Payal; Mallory, Mindy L.; Ando , Amy W.; Guntenspergen, Glenn R.

2017-01-01

Climate‐change induced uncertainties in future spatial patterns of conservation‐related outcomes make it difficult to implement standard conservation‐planning paradigms. A recent study translates Markowitz's risk‐diversification strategy from finance to conservation settings, enabling conservation agents to use this diversification strategy for allocating conservation and restoration investments across space to minimize the risk associated with such uncertainty. However, this method is information intensive and requires a large number of forecasts of ecological outcomes associated with possible climate‐change scenarios for carrying out fine‐resolution conservation planning. We developed a technique for iterative, spatial portfolio analysis that can be used to allocate scarce conservation resources across a desired level of subregions in a planning landscape in the absence of a sufficient number of ecological forecasts. We applied our technique to the Prairie Pothole Region in central North America. A lack of sufficient future climate information prevented attainment of the most efficient risk‐return conservation outcomes in the Prairie Pothole Region. The difference in expected conservation returns between conservation planning with limited climate‐change information and full climate‐change information was as large as 30% for the Prairie Pothole Region even when the most efficient iterative approach was used. However, our iterative approach allowed finer resolution portfolio allocation with limited climate‐change forecasts such that the best possible risk‐return combinations were obtained. With our most efficient iterative approach, the expected loss in conservation outcomes owing to limited climate‐change information could be reduced by 17% relative to other iterative approaches.

Art investment in South Africa: Portfolio diversification and art market efficiency

Directory of Open Access Journals (Sweden)

Ferdi Botha

2016-09-01

Full Text Available Art has been suggested as a good way to diversify investment portfolios during times of financial uncertainty. The argument is that art exhibits different risk and return characteristics to conventional investments in other asset classes. The new Citadel art price index offered the opportunity to test this theory in the South African context. Moreover, this paper tests whether art prices are efficient. The Citadel index uses the hedonic regression method with observations drawn from the top 100, 50 and 20 artists by sales volume, giving approximately 29 503 total auction observations. The Index consists of quarterly data from the period 2000Q1 to 2013Q3. A vector autoregression of the art price index, Johannesburg stock exchange all-share index, house price index, and South African government bond index were used. Results show that, when there are increased returns on the stock market in a preceding period and wealth increases, there is a change in the Citadel art price index in the same direction. No significant difference was found between the house price index and the art price index, or between the art and government bond price indices. The art market is also found to be inefficient, thereby exacerbating the risk of investing in art. Overall, the South African art market does not offer the opportunity to diversify portfolios dominated by either property, bonds, or shares.

77 FR 31756 - Energy Conservation Program: Alternative Efficiency Determination Methods and Alternative Rating...

Science.gov (United States)

2012-05-30

...-AC46 Energy Conservation Program: Alternative Efficiency Determination Methods and Alternative Rating... regulations authorizing the use of alternative methods of determining energy efficiency or energy consumption... alternative methods of determining energy efficiency or energy consumption of various consumer products and...

On conservation of renewable resources with stock-dependent return and non-concave production

International Nuclear Information System (INIS)

Olson, Lars J.; Roy, Santanu

1994-05-01

An analysis is presented of the intertemporal choice foundations underlying the conservation or extinction of renewable resources when the resource production function is non-concave and the immediate return function depends on both current consumption and the size of the resource stock. This case may exhibit nonlinear dynamics and extinction is possible from high stocks even if conservation occurs from lower stocks. The paper focusses on the influence of preferences and the production function on the efficiency of: global conservation, the existence of a safe standard of conservation, or extinction. We show that conservation is efficient under weaker conditions than the 'δ-productivity' requirements derived in models where return function is not stock-dependent. The marginal rate of substitution between investment and the stock plays an important role in addition to the discount factor and the marginal productivity of the resource. Extinction need not be optimal even if the intrinsic growth rate of the resource is less than the external rate of return. Our analysis demonstrates the potential role of taxes, subsidies, demand forces, and harvest costs in determining the efficiency of conservation or extinction. 3 figs., 1 appendix, 24 refs

On conservation of renewable resources with stock-dependent return and non-concave production

Energy Technology Data Exchange (ETDEWEB)

Olson, Lars J. [Department of Agricultural and Resource Economics, University of Maryland, College Park, MD (United States); Roy, Santanu [Econometric Institute, Erasmus University, Rotterdam (Netherlands)

1994-05-01

An analysis is presented of the intertemporal choice foundations underlying the conservation or extinction of renewable resources when the resource production function is non-concave and the immediate return function depends on both current consumption and the size of the resource stock. This case may exhibit nonlinear dynamics and extinction is possible from high stocks even if conservation occurs from lower stocks. The paper focusses on the influence of preferences and the production function on the efficiency of: global conservation, the existence of a safe standard of conservation, or extinction. We show that conservation is efficient under weaker conditions than the `{delta}-productivity` requirements derived in models where return function is not stock-dependent. The marginal rate of substitution between investment and the stock plays an important role in addition to the discount factor and the marginal productivity of the resource. Extinction need not be optimal even if the intrinsic growth rate of the resource is less than the external rate of return. Our analysis demonstrates the potential role of taxes, subsidies, demand forces, and harvest costs in determining the efficiency of conservation or extinction. 3 figs., 1 appendix, 24 refs.

Optimal allocation of conservation effort among subpopulations of a threatened species: how important is patch quality?

Science.gov (United States)

Chauvenet, Aliénor L M; Baxter, Peter W J; McDonald-Madden, Eve; Possingham, Hugh P

2010-04-01

Money is often a limiting factor in conservation, and attempting to conserve endangered species can be costly. Consequently, a framework for optimizing fiscally constrained conservation decisions for a single species is needed. In this paper we find the optimal budget allocation among isolated subpopulations of a threatened species to minimize local extinction probability. We solve the problem using stochastic dynamic programming, derive a useful and simple alternative guideline for allocating funds, and test its performance using forward simulation. The model considers subpopulations that persist in habitat patches of differing quality, which in our model is reflected in different relationships between money invested and extinction risk. We discover that, in most cases, subpopulations that are less efficient to manage should receive more money than those that are more efficient to manage, due to higher investment needed to reduce extinction risk. Our simple investment guideline performs almost as well as the exact optimal strategy. We illustrate our approach with a case study of the management of the Sumatran tiger, Panthera tigris sumatrae, in Kerinci Seblat National Park (KSNP), Indonesia. We find that different budgets should be allocated to the separate tiger subpopulations in KSNP. The subpopulation that is not at risk of extinction does not require any management investment. Based on the combination of risks of extinction and habitat quality, the optimal allocation for these particular tiger subpopulations is an unusual case: subpopulations that occur in higher-quality habitat (more efficient to manage) should receive more funds than the remaining subpopulation that is in lower-quality habitat. Because the yearly budget allocated to the KSNP for tiger conservation is small, to guarantee the persistence of all the subpopulations that are currently under threat we need to prioritize those that are easier to save. When allocating resources among subpopulations

Biodiversity gains from efficient use of private sponsorship for flagship species conservation.

Science.gov (United States)

Bennett, Joseph R; Maloney, Richard; Possingham, Hugh P

2015-04-22

To address the global extinction crisis, both efficient use of existing conservation funding and new sources of funding are vital. Private sponsorship of charismatic 'flagship' species conservation represents an important source of new funding, but has been criticized as being inefficient. However, the ancillary benefits of privately sponsored flagship species conservation via actions benefiting other species have not been quantified, nor have the benefits of incorporating such sponsorship into objective prioritization protocols. Here, we use a comprehensive dataset of conservation actions for the 700 most threatened species in New Zealand to examine the potential biodiversity gains from national private flagship species sponsorship programmes. We find that private funding for flagship species can clearly result in additional species and phylogenetic diversity conserved, via conservation actions shared with other species. When private flagship species funding is incorporated into a prioritization protocol to preferentially sponsor shared actions, expected gains can be more than doubled. However, these gains are consistently smaller than expected gains in a hypothetical scenario where private funding could be optimally allocated among all threatened species. We recommend integrating private sponsorship of flagship species into objective prioritization protocols to sponsor efficient actions that maximize biodiversity gains, or wherever possible, encouraging private donations for broader biodiversity goals. © 2015 The Author(s) Published by the Royal Society. All rights reserved.

Energy efficiency investments in the context of split incentives among French households

International Nuclear Information System (INIS)

Charlier, Dorothée

2015-01-01

The residential sector offers considerable potential for reducing energy use and greenhouse gas (GHG) emissions, particularly through energy-efficient renovations. The objective of this study is twofold. First, I aim to provide initial empirical evidence of the extent to which split incentives between landlords and tenants may lead to underinvestment. Second, I investigate the influence of tax credits and energy burdens on energy efficiency expenditures. Given the complexity of studying the decision to invest in energy-saving renovations, I use a bivariate Tobit model to compare decisions about energy-efficient works and repair works, even when the renovation expenditures seem quite similar. The analysis shows that tenants are doubly penalized: they have high energy expenditures due to energy-inefficient building characteristics, and because they are poorer than homeowners, they are unable to invest in energy-saving systems. The results also confirm that tax credits are ineffective in the split incentives context. In terms of public policy, the government should focus on low-income tenants, and mandatory measures such as minimum standards seem appropriate. Financial support from a third-party financer also might be a solution. - Highlights: • I provide empirical evidence of underinvestment due to split incentives. • I investigate the influence of tax credit and energy burden on EE expenditures. • Results show that tax credits are ineffective in a context of split incentives. • Mandatory measures such as minimum standards seem to be appropriate. • Financial support from a third party financer can be also a solution.

Energy investments and employment

International Nuclear Information System (INIS)

1993-08-01

A study was conducted to assess the effect that different energy options would have on provincial and regional employment prospects in British Columbia. Current and future economic and employment patterns were examined to develop a more detailed understanding of the skills, age, gender, location, and other characteristics of British Columbia workers. Over 40 previous studies examining the energy/employment relationship were also reviewed. Based on this review and an analysis of the province's economic and labor conditions, the following conclusions are drawn. Investment in non-energy sectors offers better prospects for reducing unemployment than investment in the energy sector, whether for new supply or improving efficiency. Investments in the energy sector provide fewer jobs than investments in most other sectors of the economy. Among the available electricity supply options, large hydroelectric projects tend to produce the fewest jobs per investment dollar. Smaller thermal projects such as wood residue plants produce the most jobs. If and when more energy is needed in British Columbia, the most cost-effective combination of energy supply and efficiency options will also create the most jobs. Compared to traditional energy supply options, investments in energy efficiency would create about twice as many total jobs, create jobs that better match the skills of the province's unemployed and its population distribution, and create jobs that last longer on the average. Construction-related measures such as improved insulation tend to produce more jobs per investment dollar than the substitution of more energy-efficient equipment. 69 refs., 9 tabs

The potential estimation and factor analysis of China′s energy conservation on thermal power industry

International Nuclear Information System (INIS)

Lin, Boqiang; Yang, Lisha

2013-01-01

At present, researches about energy conservation are focused on prediction. But there are few researches focused on the estimation of effective input and energy conservation potential, and there has been even no research on energy conservation of thermal power industry of China. This paper will try to fill in such a blank. Panel data on Chinese thermal power industry over 2005–2010 are established, and we adopt the stochastic frontier analysis approach to estimate the energy saving potential of thermal power industry. The results are as follows: (1) the average efficiency of energy inputs in China′s thermal power industry over 2005–2010 was about 0.85, and cumulative energy saving potential equals to 551.04 (Mtce); (2) by improving the non-efficiency factors, the relatively backward inland cities could achieve higher energy saving in thermal power industry; (3) the energy input efficiency of Eastern China Grid is shown to be the highest; (4) in order to realize the energy-saving goal of thermal power industry, one important policy method the government should adopt is to conduct a market-oriented reform in power industry and break the state-owned monopoly to provide incentives for private and foreign direct investment in thermal power sector. -- Highlights: •We adopt SFA model to estimate the coal input efficiency of power sector in China. •We calculate the cumulative energy saving potential equals to 551.04 Mtce. •East China power grid has the highest energy input efficiency. •Some backward inland cities may be the main force for future energy conservation. •Encourage private and foreign direct investment in power sector might be effective

The economic impacts of energy efficiency

International Nuclear Information System (INIS)

Jean, R.

1990-01-01

Energy efficiency programs add to the costs incurred by electricity users in the short term and generate significant economic benefits in the medium and long term. Using the example of programs in development at Hydro-Quebec, it is shown that the net economic benefits surpass, in present value terms, the sums invested by the electric utility and the customer, corresponding to yields of over 100%. This benefit is the principal impact of energy conservation programs which also provide employment, for every dollar invested, of the same order as that provided by hydroelectric production (i.e. costs associated with construction of generating plants, transmission lines, and distribution facilities). This evaluation takes account of the structure of purchases of goods and services brought about by energy efficiency programs and their large import component. This result may be surprising since the hydroelectric industry is strongly integrated into the Quebec economy, but it is understandable when one takes into account the importance of distribution costs to small-scale users, which causes significant local activity even when imported products are involved, and the very intensive labor requirement for certain energy efficiency measures. In addition, the employment generated by energy efficiency investments is very diversified in terms of the range of skills used and its geographic dispersion. 2 figs., 4 tabs

Socially responsible investments

CERN Multimedia

Antonella Del Rosso

2012-01-01

In addition to well-established working principles based on conservative and capital preservation oriented investments that ensure it a sustainable future, the CERN Pension Fund recently introduced a new criterion for selecting the numerous opportunities that the market offers: philanthropy. Its first initiative, which also involves the Staff Association’s Long-Term Collection, will help support two orphanages in China.   The two charities are located near Beijing. Beijing’s “China Children Charity and Foundation” is an orphanage that cares for up to 80 babies who need surgery to correct birth defects. The other, “Hope Healing Home”, is an organization that deals with 300 babies and cares for sick and physically disabled babies who have been abandoned. All these babies are awaiting treatment and a medical solution. The CERN Pension Fund has over 6700 members. To ensure the greatest efficiency and profitability, the Fund’s por...

Investments

CERN Document Server

Bodie, Zvi; Marcus, Alan J.

2017-01-01

The integrated solutions for Bodie, Kane, and Marcus' Investments set the standard for graduate/MBA investments textbooks. The unifying theme is that security markets are nearly efficient, meaning that most securities are priced appropriately given their risk and return attributes. The content places greater emphasis on asset allocation and offers a much broader and deeper treatment of futures, options, and other derivative security markets than most investment texts. Connect is the only integrated learning system that empowers students by continuously adapting to deliver precisely what they need, when they need it, and how they need it, so that your class time is more engaging and effective.

The impact of DOE building technology energy efficiency programs on U.S. employment, income, and investment

International Nuclear Information System (INIS)

Scott, Michael J.; Roop, Joseph M.; Schultz, Robert W.; Anderson, David M.; Cort, Katherine A.

2008-01-01

The U.S. Department of Energy's Office of Energy Efficiency and Renewable Energy (EERE) analyzes the macroeconomic impacts of its programs that are designed to increase the energy efficiency of the U.S. residential and commercial building stock. The analysis is conducted using the Impact of Sector Energy Technologies (ImSET) model, a special-purpose 188-sector input-output model of the U.S. economy designed specifically to evaluate the impacts of energy efficiency investments and saving. For the analysis described in the paper, ImSET was amended to provide estimates of sector-by-sector capital requirements and investment. In the scenario of the Fiscal Year (FY) 2005 Building Technologies (BT) program, the technologies and building practices being developed and promoted by the BT program have the potential to save about 2.9 x 10 15 Btu in buildings by the year 2030, about 27% of the expected growth in building energy consumption by the year 2030. The analysis reported in the paper finds that, by the year 2030, these savings have the potential to increase employment by up to 446,000 jobs, increase wage income by $7.8 billion, reduce needs for capital stock in the energy sector and closely related supporting industries by about $207 billion (and the corresponding annual level of investment by $13 billion), and create net capital savings that are available to grow the nation's future economy

Energy Technology Investments: Maximizing Efficiency Through a Maritime Energy Portfolio Interface and Decision Aid

Science.gov (United States)

2012-02-09

Investment (ROI) and Break Even Point ( BEP ). These metrics are essential for determining whether an initiative would be worth pursuing. Balanced...is Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy...Unlimited Energy Decision Framework Identify Inefficiencies 2. Perform Analyses 3. Examine Technology Candidates 1. Improve Energy Efficiency 4

Efficiency evaluation of China's investment in Africa under the background of constructing "Silk Road Economic Belt": Application of DEA model and Malmquist index method

OpenAIRE

Ze, Tian; Yumei, Fan; Chao, Liu

2018-01-01

In recent years, with implementation and propulsion of the strategic planning "One Belt and One Road" of China, quality and efficiency of China's foreign direct investment have increasingly become a focused issue. This paper utilizes the DEA model and Malmquist index method to select the data of China's investment in 20 countries of Africa and conducts the empirical research on dynamic evaluation of efficiency of China's direct investment in Africa. The result shows that the general efficienc...

Energy management in the patrimonial buildings of European territorial organizations in the framework of markets liberalization. Economic study of financial incentive mechanisms in favor of energy efficiency investment

International Nuclear Information System (INIS)

Gayral, L.

2005-12-01

The territorial and patrimonial components of energy savings are not well developed because many barriers - political, organisational and financial - prevent investments in energy efficiency. Although investing in the improvement of the energy efficiency of their public buildings is a rational process, the local authorities are far from systematically carrying out this type of investment. Their limited investment capacity, associated to the lack of spare capital to finance their projects leads them to a 'vicious circle of energy wasting'. Our thesis analyzes the economic and financial tools a local authority can use to invest and enter a 'virtuous circle of energy efficiency'. Our topic deals with the financing of energy efficiency investments at a local level. We describe with details the functioning of each financial mechanism indexed. We illustrate their implementation within European municipalities through many case studies. Finally, we suggest recommendations for their broad reproducibility within French local authorities. (author)

17 CFR 210.12-13 - Investments other than securities.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments other than... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

The Energy Conservation Guide 98/99; ENOEK guiden 99

Energy Technology Data Exchange (ETDEWEB)

NONE

1999-07-01

Norwegians have the world's largest electricity consumption per capita. This booklet aims to advice house owners on efficient use of energy. The main sections discuss the concept of energy conservation in general, heating, stoves and fireplaces, central heating, insulation and sealing, windows, hot water, water saving, lighting, domestic appliances, ventilation, outdoor facilities, and finally gives some tips on investments and profitability and how to obtain expert advice. The booklet is profusely illustrated.

77 FR 38743 - Energy Efficiency Program for Consumer Products: Energy Conservation Standards for Battery...

Science.gov (United States)

2012-06-29

... Efficiency Program for Consumer Products: Energy Conservation Standards for Battery Chargers and External Power Supplies AGENCY: Office of Energy Efficiency and Renewable Energy, Department of Energy. ACTION... Energy Efficiency and Renewable Energy, Building Technologies Program, EE-2J, 1000 Independence Avenue SW...

78 FR 9631 - Energy Efficiency Program for Consumer Products: Energy Conservation Standards for Residential...

Science.gov (United States)

2013-02-11

... Efficiency Program for Consumer Products: Energy Conservation Standards for Residential Boilers AGENCY: Office of Energy Efficiency and Renewable Energy, Department of Energy. ACTION: Notice of public meeting.... Department of Energy, Office of Energy Efficiency and Renewable Energy, Building Technologies Program, EE-2J...

Energy literacy, awareness, and conservation behavior of residential households

International Nuclear Information System (INIS)

Brounen, Dirk; Kok, Nils; Quigley, John M.

2013-01-01

The residential sector accounts for one-fifth of global energy consumption, resulting from the requirements to heat, cool, and light residential dwellings. It is therefore not surprising that energy efficiency in the residential market has gained importance in recent years. In this paper, we examine awareness, literacy and behavior of households with respect to their residential energy expenditures. Using a detailed survey of 1721 Dutch households, we measure the extent to which consumers are aware of their energy consumption and whether they have taken measures to reduce their energy costs. Our results show that “energy literacy” and awareness among respondents is low: just 56% of the respondents are aware of their monthly charges for energy consumption, and 40% do not appropriately evaluate investment decisions in energy efficient equipment. We document that demographics and consumer attitudes towards energy conservation, but not energy literacy and awareness, have direct effects on behavior regarding heating and cooling of the home. The impact of a moderating factor, measured by thermostat settings, ultimately results in strong variation in the energy consumption of private consumers. - Highlights: • We use a detailed survey of 1,721 Dutch households to measure awareness and conservation behavior in energy consumption. • Energy literacy and awareness among residential households is low. • 40 percent of the sample does not appropriately evaluate investment decisions in energy efficient equipment • Demographics and consumer attitudes affect behavior regarding heating and cooling of a home

A compendium of energy conservation: Success stories 90

Energy Technology Data Exchange (ETDEWEB)

1990-12-01

The Department of Energy's (DOE) Office of Conservation and Renewable Energy proudly presents this summary of some its most successful projects and activities. The projects included in this document have made significant contributions to improving energy efficiency and fuel flexibility in the United States. The energy savings that can be realized from these projects are considerable. Americans have shown an impressive ability to reduce energy consumption since 1973. Studies show that 34 quadrillion Btus (quads) of energy were saved in 1988 alone as a result of energy conservation and other factors. These savings, worth approximately $180 billion, represent more energy than the United States obtains from any other single source. The availability of new, energy-efficient technologies has been an important ingredient in achieving these savings. Federal efforts to develop and commercialize energy-saving technologies and processes are a part of the reason for this progress. Over the past 10 years, DOE has carefully invested more than $2 billion in hundreds of research and development (R D) projects to ensure the availability of advanced technology in the marketplace. These energy-efficient projects are carried out through DOE's Office of Conservation and Renewable Energy and reflect opportunities in the three energy-consuming, end-use sectors of the economy: buildings, transportation, and industry.

A Compendium of Energy Conservation: Success Stories 90

Science.gov (United States)

1990-12-01

The Department of Energy's (DOE) Office of Conservation and Renewable Energy proudly presents this summary of some its most successful projects and activities. The projects included in this document have made significant contributions to improving energy efficiency and fuel flexibility in the United States. The energy savings that can be realized from these projects are considerable. Americans have shown an impressive ability to reduce energy consumption since 1973. Studies show that 34 quadrillion Btus (quads) of energy were saved in 1988 alone as a result of energy conservation and other factors. These savings, worth approximately $180 billion, represent more energy than the United States obtains from any other single source. The availability of new, energy-efficient technologies has been an important ingredient in achieving these savings. Federal efforts to develop and commercialize energy-saving technologies and processes are a part of the reason for this progress. Over the past 10 years, DOE has carefully invested more than $2 billion in hundreds of research and development (R&D) projects to ensure the availability of advanced technology in the marketplace. These energy-efficient projects are carried out through DOE's Office of Conservation and Renewable Energy and reflect opportunities in the three energy-consuming, end-use sectors of the economy: buildings, transportation, and industry.

Comparative analysis of methodical approaches to evaluating the efficiency of investment projects in the power industry

International Nuclear Information System (INIS)

Tolstooukhov, D.A.; Karkhov, A.N.

2001-01-01

At present time, a transition is made to market mechanisms of economy functioning based on equilibrium price formation for products of enterprises and their self-financing. Based on long-term forecasts of economic development, electric power industry should not only ensure preservation of the accumulated potential but should also provide for modernization, reconstruction, service life extension of operating power facilities and construction of new ones. Under market conditions, nuclear power installations will have to prove their right to exist and develop in competition with other power technologies. In these conditions, the responsibility is growing for the correctness of investment decisions taken in the power industry and methods on which they are based. This paper analyzes currently used calculation methods for economic efficiency of investment projects. It emphasizes the limitations and drawbacks of the existing methodical approaches, and their inconsistency with market economy and scientific and technological progress (STP). The said drawbacks lead to serious mistakes in evaluating the prospects for the development of nuclear power. The paper describes a methodical approach based on equilibrium price formation that does not have the said drawbacks and may be used as the basis for further work on creation of improved calculation methods for the economic efficiency of investment projects in nuclear power. (authors)

75 FR 28801 - Energy Efficiency and Conservation Block Grant Program: Funding Opportunity Announcement (DE-FOA...

Science.gov (United States)

2010-05-24

... DEPARTMENT OF ENERGY Office of Energy Efficiency and Renewable Energy Energy Efficiency and... Efficiency and Renewable Energy, Department of Energy. ACTION: Notice of application deadline guideline...-FOA-0000013) for the formula grants of the Energy Efficiency and Conservation Block Grant (EECBG...

78 FR 54197 - Energy Efficiency Program for Commercial and Industrial Equipment: Energy Conservation Standards...

Science.gov (United States)

2013-09-03

.... EERE-2013-BT-STD-0030] RIN 1904-AD01 Energy Efficiency Program for Commercial and Industrial Equipment: Energy Conservation Standards for Commercial Packaged Boilers AGENCY: Office of Energy Efficiency and..., Office of Energy Efficiency and Renewable Energy, Building Technologies Office, EE-2J, 1000 Independence...

Economic evaluation of investment in electricity conservation

International Nuclear Information System (INIS)

Becker, Nir; Fishman, Yaron; Lavee, Doron

2008-01-01

The paper presents an economic study of the potential for energy conservation in Israel. We analyze energy conservation policies targeted at the household sector, focusing on the economic feasibility of scrapping old household electrical appliances, and considering the effect of such policies at both the household and the macro-economic level. The results of our analysis show that the appliance that provides the most potential conservation is the air conditioner (used for both heating and cooling). A scrapping program for old air conditioners passes a cost benefit analysis (CBA) even when external benefits are excluded from the calculation. When external benefits are included, scrapping programs for both washing machines and dishwashers pass the test as well. According to our findings, the annual economic benefit of a program involving the scrapping of 100,000 air conditioners, 45,000 washing machines and 15,000 dishwashers per annum over 10 years ranges from 246 million New Israeli Shekels (NIS) in the first year of implementation to 693 million in the tenth year. Most of the savings are derived from the scrapping of air conditioners

Cost-benefit assessment of energy efficiency investments: Accounting for future resources, savings and risks in the Australian residential sector

International Nuclear Information System (INIS)

Morrissey, J.; Meyrick, B.; Sivaraman, D.; Horne, R.E.; Berry, M.

2013-01-01

This article focuses on the impact of the discount rate on cost-benefit assessment of investment options for residential building efficiency. An integrated thermal modeling, life cycle costing approach is applied to an extensive sample of dominant house designs for Australian conditions. The relative significance of predicted thermal performance and the applied discount rate on the Present Value of energy savings from alternative investment scenarios is investigated. Costs and benefits are also evaluated at the economy-wide scale, including carbon pricing considerations, and for a test-case household faced with alternative investment options at the point of construction. The influence of the applied discount rate on produced cost-benefit calculations is investigated, as is the interaction between critical cost-benefit input parameters. Findings support that the discounting framework is the primary driver of difference in estimates about costs and benefits of higher standards of efficiency in the residential sector. Results demonstrate that agreement on a low discount rate based on sustainability principals would prioritise those projects with significant environmental benefits. - Highlights: ► High thermal efficiency is a key strategy to limit energy use in buildings. ► Integrated thermal modeling—life-cycle costing methods are applied to dominant house designs. ► The discounting framework is the primary driver of difference in observed costs. ► The selection of optimal performance investment options depends on the discount rate. ► Application of a discount rate of 3.5% or lower favours energy saving projects

Static and dynamic efficiency of irreversible health care investments under alternative payment rules.

Science.gov (United States)

Levaggi, R; Moretto, M; Pertile, P

2012-01-01

The paper studies the incentive for providers to invest in new health care technologies under alternative payment systems, when the patients' benefits are uncertain. If the reimbursement by the purchaser includes both a variable (per patient) and a lump-sum component, efficiency can be ensured both in the timing of adoption (dynamic) and the intensity of use of the technology (static). If the second instrument is unavailable, a trade-off may emerge between static and dynamic efficiency. In this context, we also discuss how the regulator could use control of the level of uncertainty faced by the provider as an instrument to mitigate the trade-off between static and dynamic efficiency. Finally, we calibrate the model to study a specific technology and estimate the cost of a regulatory failure. Copyright © 2011 Elsevier B.V. All rights reserved.

Preference and Priority in Federal Funding: Aligning Federal Resources to Maximize Program Investment Efficiency and Impacts in Communities

Science.gov (United States)

This page contains the document, Preference and Priority in Federal Funding: Aligning Federal Resources to Maximize Program Investment Efficiency and Impacts in Communities - Lessons from EPA’s Brownfields Program.

75 FR 31323 - Energy Efficiency Program: Energy Conservation Standards Furnace Fans: Public Meeting and...

Science.gov (United States)

2010-06-03

.... EERE-2010-BT-STD-0011] RIN 1904-AC22 Energy Efficiency Program: Energy Conservation Standards Furnace Fans: Public Meeting and Availability of the Framework Document AGENCY: Office of Energy Efficiency and... Energy, Office of Energy Efficiency and Renewable Energy, Building Technologies, EE-2J, 1000 Independence...

An Information-Based Trade Off between Foreign Direct Investment and Foreign Portfolio Investment

OpenAIRE

Itay Goldstein; Assaf Razin

2005-01-01

The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI).The model describes an information-based trade off between direct investments and portfolio investments. Direct investors are more informed about the fundamentals of their projects. This information enables them to manage their projects more efficiently. However, it also creates an asymmetric-information problem in case they need to sell their projects prematurely, and reduces the price they...

Pension Fund Investment Policy

OpenAIRE

Zvi Bodie

1988-01-01

The purpose of this paper is to survey what is known about the investment policy of pension funds. Pension fund investment policy depends critically on the type of plan: defined contribution versus defined benefit. For defined contribution plans investment policy is not much different than it is for an individual deciding how to invest the money in an Individual Retirement Account (IRA). The guiding principle is efficient diversification, that is, achieving the maximum expected return for any...

ANALYSIS OF EFFICIENCY OF INVESTMENT IN THE EU AGRICULTURAL FUNDS

Directory of Open Access Journals (Sweden)

Bojan Krstić

2014-12-01

Full Text Available The purpose of this paper is understanding of the importance of financial support for agricultural development and achieved results. The aim is an assessment of the importance of the European Union funds intended for agricultural and rural development. In accordance with the purpose and objectives of the research, we analyze the efficiency of investment in the European Union agricultural funds. Also, the interdependence between agriculture expenditures from the European Union funds and results achieved in agriculture in the European Union countries is examined in this paper. Homogeneity of the European Union countries, according to agricultural expenditures and agricultural results is analyzed. The results of this research highlight the importance of financial support provided from the European Union funds for agricultural and rural development.

The employment impacts of economy-wide investments in renewable energy and energy efficiency

Science.gov (United States)

Garrett-Peltier, Heidi

This dissertation examines the employment impacts of investments in renewable energy and energy efficiency in the U.S. A broad expansion of the use of renewable energy in place of carbon-based energy, in addition to investments in energy efficiency, comprise a prominent strategy to slow or reverse the effects of anthropogenic climate change. This study first explores the literature on the employment impacts of these investments. This literature to date consists mainly of input-output (I-O) studies or case studies of renewable energy and energy efficiency (REEE). Researchers are constrained, however, by their ability to use the I-O model to study REEE, since currently industrial codes do not recognize this industry as such. I develop and present two methods to use the I-O framework to overcome this constraint: the synthetic and integrated approaches. In the former, I proxy the REEE industry by creating a vector of final demand based on the industrial spending patterns of REEE firms as found in the secondary literature. In the integrated approach, I collect primary data through a nationwide survey of REEE firms and integrate these data into the existing I-O tables to explicitly identify the REEE industry and estimate the employment impacts resulting from both upstream and downstream linkages with other industries. The size of the REEE employment multiplier is sensitive to the choice of method, and is higher using the synthetic approach than using the integrated approach. I find that using both methods, the employment level per $1 million demand is approximately three times greater for the REEE industry than for fossil fuel (FF) industries. This implies that a shift to clean energy will result in positive net employment impacts. The positive effects stem mainly from the higher labor intensity of REEE in relation to FF, as well as from higher domestic content and lower average wages. The findings suggest that as we transition away from a carbon-based energy system to

Juggling Act: Balancing Safety, Security, and Yield in School Investments.

Science.gov (United States)

Sallack, David J.

2001-01-01

Although state laws governing school district investing are quite conservative, there have been some notable investment failures leading to the loss of public funds. School districts must beware three kinds of investment risks involving credit, market, and interest rates and consider safety, legality, liquidity, and cash-flow requirements. (MLH)

An energy efficiency promotion strategy for industries and buildings in Thailand

International Nuclear Information System (INIS)

Vongsoasup, Sirinthorn; Du Pont, Peter

2004-01-01

Since 1992, when the Thai Parliament endorsed the Energy Conservation Promotion (ENCON) Act, the promotion of energy efficiency has been a cornerstone of Thailand's energy policy. The ENCON Act focuses on large commercial and industrial end users and is accompanied by a 'carrot' in the form of the Energy Conservation Promotion Fund (ENCON Fund), which provides financial incentives to install energy-efficiency measures. For the past several years, Thailand's Department of Alternative Energy Development and Efficiency (DEDE), the lead government agency implementing energy efficiency, has been reassessing its programs, simplifying the procedures, and improving its program promotion. In late 2002 and early 2003, Thailand launched two large-scale pilot programs. The 30% Subsidy Program provides rebates of up to USD 50,000 per facility to stimulate investment in energy-saving projects. This program has been remarkably successful, and allocated its entire budget of USD 2.5 million within the first 6 months of implementation. The average time for project approval is just 30 days. Every dollar of subsidy leverages 3.2 dollars in private sector investment and results in more than 16 dollars of energy cost savings over the lifetime of the equipment. The Energy Efficiency Revolving Fund is designed for larger projects and is administered directly by commercial banks. The fund is providing a total of USD 50 million of zero-interest loans to banks for lending at a low interest rate (< 4%) to commercial and industrial end users. Project investments are typically in the range of USD 400,000 to USD 800,000 million, with the maximum loan amount being USD 1.25 million. After one year of project implementation, USD 20 million has been loaned for energy-efficiency projects, of which USD 12 million has come from the Fund and USD 8 million from the bank's own funds. Implementation of these two pilot programs is providing the basis for the Thailand's newly created Ministry of Energy to

Residential energy use and conservation in Venezuela: Results and implications of a household survey in Caracas

Energy Technology Data Exchange (ETDEWEB)

Figueroa, M.J.; Ketoff, A.; Masera, O.

1992-10-01

This document presents the final report of a study of residential energy use in Caracas, the capital of Venezuela. It contains the findings of a household energy-use survey held in Caracas in 1988 and examines options for introducing energy conservation measures in the Venezuelan residential sector. Oil exports form the backbone of the Venezuelan economy. Improving energy efficiency in Venezuela will help free domestic oil resources that can be sold to the rest of the world. Energy conservation will also contribute to a faster recovery of the economy by reducing the need for major investments in new energy facilities, allowing the Venezuelan government to direct its financial investments towards other areas of development. Local environmental benefits will constitute an important additional by-product of implementing energy-efficiency policies in Venezuela. Caracas`s residential sector shows great potential for energy conservation. The sector is characterized by high saturation levels of major appliances, inefficiency of appliances available in the market, and by careless patterns of energy use. Household energy use per capita average 6.5 GJ/per year which is higher than most cities in developing countries; most of this energy is used for cooking. Electricity accounts for 41% of all energy use, while LPG and natural gas constitute the remainder. Specific options for inducing energy conservation and energy efficiency in Caracas`s residential sector include energy-pricing policies, fuel switching, particularly from electricity to gas, improving the energy performance of new appliances and customer information. To ensure the accomplishment of an energy-efficiency strategy, a concerted effort by energy users, manufacturers, utility companies, government agencies, and research institutions will be needed.

Energy efficiency of residential buildings. Energy consumption and investment costs of different building energy standards; Energieeffizienz von Wohngebaeuden. Energieverbraeuche und Investitionskosten energetischer Gebaeudestandards

Energy Technology Data Exchange (ETDEWEB)

Beecken, Christoph; Schulze, Stephan [Bow Ingenieure GmbH, Braunschweig (Germany)

2011-12-15

In view of the impending energy transition in Germany, turning away from fossil fuels and atomic power and leading to renewable energy sources, the construction of very energy efficient new buildings gains more and more in importance. Because the saving of energy with efficient buildings offers the highest potential to achieve the energy transition without loss of comfort and also complying with the climate protection target of limitation of the carbon dioxide emission. For new buildings in the initial project planning phase, the client needs qualified consulting concerning a reasonable energy standard for his building. The consulting should comprise the multitude of energy efficiency standards and the related financial incentives and not only cover the minimum standard of the German Building Energy Conservation Regulation EnEV (Energieeinsparverordnung). But the architect can hardly quantify the potentials to reduce energy consumption of buildings considering the multitude of existing standards with multifarious effects on energy consumption, technical requirements and building costs. With the help of an example multi-storey residential building in Hannover, current energy standards for residential buildings are compared. Besides the building construction also the building services like heating, hot water generation and ventilation are considered and the most important results concerning energy consumption and investment costs are compared.

FROM EFFICIENT MARKET HYPOTHESIS TO BEHAVIOURAL FINANCE: CAN BEHAVIOURAL FINANCE BE THE NEW DOMINANT MODEL FOR INVESTING?

Directory of Open Access Journals (Sweden)

George BOROVAS

2012-12-01

Full Text Available The present paper reviews two fundamental investing paradigms, which have had a substantial impact on the manner investors tend to develop their own strategies. specifically, the study elaborates on efficient market hypothesis (emh, which, despite remaining most prominent and popular until the 1990s, is considered rather controversial and often disputed, and the theory of behavioural finance, which has increasingly been implemented in financial institutions. based on an extensive survey of behavioural finance and emh literature, the study demonstrates, despite any assertions, the inherent irrationality of the theory of efficient market, and discusses the potential reasons for its recent decline, arguing in favor of its replacement or co-existence with behavioural finance. in addition, the study highlights that the theory of behavioural finance, which endorses human behavioral and psychological attitudes, should become the theoretical framework for successful and profitable investing.

17 CFR 210.12-12A - Investments-securities sold short.

Science.gov (United States)

2010-04-01

... 17 Commodity and Securities Exchanges 2 2010-04-01 2010-04-01 false Investments-securities sold... EXCHANGE ACT OF 1934, PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, INVESTMENT COMPANY ACT OF 1940, INVESTMENT ADVISERS ACT OF 1940, AND ENERGY POLICY AND CONSERVATION ACT OF 1975 Form and Content of Schedules...

The impact of energy audits on energy efficiency investment of public owners. Evidence from Italy

International Nuclear Information System (INIS)

Barbetta, Gian Paolo; Canino, Paolo; Cima, Stefano

2015-01-01

Buildings are a promising area of energy savings, but a difference exists between actual and optimal investment in this field. The so called ‘information gap’ about the costs and benefits of energy-saving activities could explain the difference. Audit programs have been undertaken to overcome the ‘information gap’ but, surprisingly, most papers analyzing the impact of audits on the adoption of energy-saving measures use faulty methods that could provide biased results. In this paper we fill this gap of the energy literature. First, we introduce robust counterfactual methods to analyze the impact of energy-saving policies; second, we apply these methods to investigate the impact of the free-funding of audits on the energy-saving investments of local public administrations, a neglected area of investigation. As opposite to most of the literature, we cannot identify any statistically significant effect of the audits either on the number of energy-saving interventions or on the resources devoted to these activities by local public administrations. We believe that, in the field of public non-residential buildings, information is not sufficient to fostering public investments aimed at increasing energy efficiency. As a policy consequence, public resources should consider different tools, including those aimed at reducing the cost of investments. - Highlights: • Authors examining energy audits find positive effects, but use faulty methods. • We examine audits using un-biased methods of counterfactual analysis. • We use a unique set of data of audits in public non-residential facilities. • We cannot identify any effect of audits on energy-saving activities and investments. • In the field of public buildings, information is not enough to raising investments.

Logging or conservation concession: Exploring conservation and development outcomes in Dzanga-Sangha, Central African Republic

Directory of Open Access Journals (Sweden)

Marieke Sandker

2011-01-01

Full Text Available The Dzanga-Sangha landscape consists of a national park surrounded by production forest. It is subject to an integrated conservation and development project (ICDP. In collaboration with the ICDP personnel, a participatory model was constructed to explore wildlife conservation and industrial logging scenarios for the landscape. Three management options for the landscape′s production forest were modelled: (I ′predatory logging′, exploitation by a logging company characterised by a lack of long-term plans for staying in the landscape, (II sustainable exploitation by a certified logging company, and (III conservation concession with no commercial timber harvesting. The simulation outcomes indicate the extreme difficulties to achieve progress on either conservation or development scenarios. Both logging scenarios give best outcomes for development of the local population. However, the depletion of bushmeat under the predatory logging scenario negatively impacts the population, especially the BaAka pygmy minority who most strongly depend on hunting for their income. The model suggests that conservation and development outcomes are largely determined by the level of economic activity, both inside and outside the landscape. Large investments in the formal sector in the landscape without any measures for protecting wildlife (Scenario I leads to some species going nearly extinct, while investments in the formal sector including conservation measures (Scenario II gives best outcomes for maintaining wildlife populations. The conservation concession at simulated investment levels does not reduce poverty, defined here in terms of monetary income. Neither does it seem capable of maintaining wildlife populations since the landscape is already filled with settlers lacking economic opportunities as alternatives to poaching.

18 CFR 367.2550 - Account 255, Accumulated deferred investment tax credits.

Science.gov (United States)

2010-04-01

..., Accumulated deferred investment tax credits. 367.2550 Section 367.2550 Conservation of Power and Water... 255, Accumulated deferred investment tax credits. This account must be credited with all investment tax credits deferred by companies that have elected to follow deferral accounting, partial or full...

Energy efficient buildings : a plan for BC : creating a legacy of energy efficient buildings in British Columbia

International Nuclear Information System (INIS)

2005-10-01

A plan to conserve energy and improve energy efficiency in homes and buildings in British Columbia was presented. Benefits of the plan included savings for consumers throughout BC; an increase in the value of homes and buildings; a return on investment after an average of 5 years; improved comfort and indoor air quality in buildings; creation of equipment manufacturing, building design, development and trades jobs across the province; and reduced environmental impacts, including greenhouse gas (GHG) and smog-creating air emissions. An outline of cost-effective energy efficiency targets was presented to complement ongoing local, provincial and federal programs. A number of market challenges were reviewed, such as the lack of information available to consumers on energy efficiency, the increased initial cost of energy efficient buildings, and the fact that opportunities to reduce energy consumption after construction are limited and expensive. It was suggested that energy consumers are not often aware of the environmental and social costs of over-consumption of energy. Details of existing programs that support energy efficiency were presented, as well as information concerning sales tax exemptions for high efficiency heating equipment and other materials used to conserve energy. Various provincial policies and incentives supporting energy conservation were outlined. Cost-effective targets for energy efficiency for new and existing buildings were presented, as well as details of rebates for homeowners. Capital costs for new construction standards were presented, as well as details of incentives and provincial sales tax exemptions

Planning for land use and conservation: Assessing GIS-based conservation software for land use planning

Science.gov (United States)

Rob Baldwin; Ryan Scherzinger; Don Lipscomb; Miranda Mockrin; Susan Stein

2014-01-01

Recent advances in planning and ecological software make it possible to conduct highly technical analyses to prioritize conservation investments and inform local land use planning. We review these tools, termed conservation planning tools, and assess the knowledge of a key set of potential users: the land use planning community. We grouped several conservation software...

Efficiency improvement of the investment and innovation activities in the transport facility construction field with public-private partnership involvement

Science.gov (United States)

Shibayeva, Marina; Serebryakova, Yelena; Shalnev, Oleg

2017-10-01

Growing demand to increase the investment volume in modernization and development projects for transport infrastructure define the urgency of the current study. The amount of private sector investments in the field is insufficient to implement the projects for road construction due to their significant capital intensity and long payoff period. The implementation of social significant infrastructure projects on the principles of public-private partnership is one of the key strategic directions of growth for transport facilities. The authors come up with a concept and methodology for modeling the investment and innovation activity in the transport facility construction. Furthermore, there is developed a model to find the balance between public and private sector investments in implementing construction projects for transport infrastructure with involvement of PPP (further - public-private partnership). The suggested concepts aim to improve the efficiency rate of the investment and innovation activity in the field of transport facility construction on the basis of public and private sectors collaboration.

Promotional programmes for energy conservation and CO2 avoidance. Efficiency and costs

International Nuclear Information System (INIS)

Lechtenboehmer, S.; Bach, W.

1994-01-01

Least-cost planning and demand-side management are attempts to bring into accord company policies of the energy utility with the targets of environmental and climate protection and resource savings. Since 1982 also the Stadtwerke Muenster have promotional programmes for heating system modernization. With the example of three current promotional programmes the article analysis the costs of such programmes, their impact with regard to energy conservation and CO 2 avoidance and their status within the scope of local climate protection. Moreover the volume of investment is assessed which is necessary in Muenster to reduce the heating energy consumption of existing residential buildings till 2005 by more than one third. (orig./UA) [de

China's energy saving potential from the perspective of energy efficiency advantages of foreign-invested enterprises

International Nuclear Information System (INIS)

Jiang, Xuemei; Zhu, Kunfu; Green, Christopher

2015-01-01

The paper investigates the energy saving potential associated with firm ownership-related differences in energy efficiency such as those between domestically and foreign-owned firms. Because of a gap in official statistics this topic has barely been touched upon in the scholarly literature. This paper employs a new energy input–output table that distinguishes firm ownership (Chinese owned enterprises, COEs; and foreign-invested enterprises, FIEs) and trade mode (export processing and normal goods production) to analyze the energy efficiency advantage of FIEs in China in 2007. The results show that the total energy intensities of COEs in the industrial sector are generally 5%–35% higher than that of FIEs across industry groups. At an aggregate level, China could save up to 20.3% of its energy use, if industrial COEs could duplicate the energy use efficiency and production technology of FIEs. This gain would require major technology upgrades among COEs. - Highlights: • A new input–output table distinguishing firm ownership and trade mode is employed. • The foreign-invested enterprises are 5%–35% energy efficient than Chinese enterprises in 2007. • China could save 20.3% of energy use if industrial COEs could duplicate the technologies of FIEs

Energy conservation, energy efficiency and energy savings regulatory hypotheses - taxation, subsidies and underlying economics

Energy Technology Data Exchange (ETDEWEB)

Trumpy, T. [International Legal Counsel, Brussels (Belgium)

1995-12-01

More efficient use of energy resources can be promoted by various regulatory means, i.e., taxation, subsidies, and pricing. Various incentives can be provided by income and revenue tax breaks-deductible energy audit fees, energy saving investment credits, breaks for energy saving entrepreneurs, and energy savings accounts run through utility accounts. Value added and excise taxes can also be adjusted to reward energy saving investments and energy saving entrepreneurial activity. Incentives can be provided in the form of cash refunds, including trade-in-and-scrap programs and reimbursements or subsidies on audit costs and liability insurance. Pricing incentives include lower rates for less energy use, prepayment of deposit related to peak load use, electronically dispatched multiple tariffs, savings credits based on prior peak use, and subsidized {open_quotes}leasing{close_quotes} of more efficient appliances and lights. Credits, with an emphasis on pooling small loans, and 5-year energy savings contracts are also discussed.

Residential energy-efficient technology adoption, energy conservation, knowledge, and attitudes: An analysis of European countries

International Nuclear Information System (INIS)

Mills, Bradford; Schleich, Joachim

2012-01-01

Relationships between measures of household energy use behavior and household characteristics are estimated using a unique dataset of approximately 5000 households in 10 EU countries and Norway. Family age-composition patterns are found to have a distinct impact on household energy use behavior. Households with young children are more likely to adopt energy-efficient technologies and energy conservation practices and place primary importance on energy savings for environmental reasons. By contrast, households with a high share of elderly members place more importance on financial savings, and have lower levels of technology adoption, energy conservation practice use, and knowledge about household energy use. Education levels also matter, with higher levels associated with energy-efficient technology adoption and energy conservation practice use. Similarly, university education increases the stated importance of energy savings for greenhouse gas reductions and decreases the stated importance for financial reasons. Education impacts also vary greatly across survey countries and there is some evidence of an Eastern–Western European divide with respect to attitudes towards energy savings. These cross-country differences highlight the need to balance a common EU energy-efficiency policy framework with flexibility for country specific policies to address unique constraints to energy-efficient technology and conservation practice adoption. - Highlights: ► Household energy use behavior is explored with data from 11 European countries. ► Household age structure and education influence household energy use behavior and attitudes. ► Significant country differences in household energy use behavior exist. ► The EU needs to balance a common energy-efficiency policy framework with country specific policies.

Tool to Prioritize Energy Efficiency Investments

Energy Technology Data Exchange (ETDEWEB)

Farese, Philip [National Renewable Energy Lab. (NREL), Golden, CO (United States); Gelman, Rachel [National Renewable Energy Lab. (NREL), Golden, CO (United States); Hendron, Robert [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2012-08-01

To provide analytic support of the U.S. Department of Energy's Office of the Building Technology Program (BTP), NREL developed a Microsoft Excel-based tool to provide an open and objective comparison of the hundreds of investment opportunities available to BTP. This tool uses established methodologies to evaluate the energy savings and cost of those savings.

Efficient capacity investment and joint production agreements in an oligopolistic electricity market: The HidroAysen joint venture project

International Nuclear Information System (INIS)

Raineri, Ricardo; Contreras, Gonzalo

2010-01-01

We develop a model for a power market with the characteristics of the Chilean power supply industry, which is an integrated system with a system operator (SO) with a vast authority to define the dispatch of the system. We evaluate whether a large joint power generator project made up by the two largest power generators is an anti-competitive project. Considering four investment technologies for power generation, namely, hydro, coal, diesel, and an advantageous hydro technology which can only be built in a large scale (HidroAysen) for the joint venture case, we use an oligopolistic Cournot model and a Benevolent Social Planner, both calibrated to the Chilean power industry, in order to assess the efficiency of alternative investment strategies and conditions whether the HidroAysen joint venture project can be barred to be judged as anti-competitive. Results suggest that the joint venture is an efficient investment and there is a pro-competitive behaviour on the part of the two power generators, and that there are benefit to consumers, who should expect non-increasing energy prices as a result of the advantageous hydrotechnology.

Comparative study of the efficiency of public supports to investments in energy management in the European Union

International Nuclear Information System (INIS)

Scheuer, Stefan; Ballu, Matthieu; Di Stefano, Paolo

2013-01-01

This study proposes a detailed overview of public budgets invested by the different member States of the European Union via subsidy systems, loans or tax arrangements in order to support investments in energy efficiency in buildings. The author also studied results published for these public instruments in terms of energy savings, and proposed a comparison which takes the lifetime of these savings into account. The study is based on available official information. Thus, before presenting the obtained results, the author describes how data have been collected and harmonised, presents the comparative analysis and discusses the lifetime measurement issue

Developing sustainable energy policies for electrical energy conservation in Saudi Arabia

International Nuclear Information System (INIS)

Al-Ajlan, S.A.; Al-Ibrahim, A.M.; Abdulkhaleq, M.; Alghamdi, F.

2006-01-01

Towards the end of 1998, the Saudi Arabian electricity sector embarked upon a major restructuring program. One of the aims of the program is to achieve sustainable performance. Although progress has been made, a number of challenges remain, including high demand growth, low generation capacity reserve margins, inefficient energy use, absence of time-of-use tariffs, and the need for large capital investments to meet current and future expansion. Electrical energy consumption in Saudi Arabia increased sharply during the last two decades due to rapid economic development and the absence of energy conservation measures. Peak loads reached nearly 24GW in 2001-25 times their 1975 level-and are expected to approach 60GW by 2023. The total investment needed to meet this demand may exceed $90 billion. Consequently, there is an urgent need to develop energy conservation policies for sustainable development. Current sustainable policies, particularly those pertaining to energy conservation, led to peak load savings of more than 871MW in 2001, mainly as a result of collaborations between the Ministry of Water and Electricity and the Saudi Electricity Company. In the long term, however, unless sustainable energy policies are developed at a national level, such efforts will be largely ineffective. To address this, policies and programs are being developed for public awareness, energy regulation and legislation, and energy information and programming. If energy conservation is taken into account, the forecast demand can be reduced by 5-10%. This is equivalent to 3-6GW of additional capacity, which represents a possible $1.5-3.0 billion saving over the next 20 years. Typically, investment in energy efficiency is 1% of utility sales revenues, which for a country like Saudi Arabia could be $15-60 million p.a. If only savings on air conditioning are considered, the return on investment is equivalent to 400-500MW p.a. of generating capacity-a saving of up to $0.25 billion p.a. In this

Developing sustainable energy policies for electrical energy conservation in Saudi Arabia

Energy Technology Data Exchange (ETDEWEB)

Al-Ajlan, S.A. [Energy Research Institute, King Abdulaziz City for Science and Technology, P.O. Box 6086, Riyadh 11442 (Saudi Arabia)]. E-mail: salajlan@kacst.edu.sa; Al-Ibrahim, A.M. [Energy Research Institute, King Abdulaziz City for Science and Technology, P.O. Box 6086, Riyadh 11442 (Saudi Arabia); Abdulkhaleq, M. [Ministry of Water and Electricity (Saudi Arabia); Alghamdi, F. [Ministry of Water and Electricity (Saudi Arabia)

2006-09-15

Towards the end of 1998, the Saudi Arabian electricity sector embarked upon a major restructuring program. One of the aims of the program is to achieve sustainable performance. Although progress has been made, a number of challenges remain, including high demand growth, low generation capacity reserve margins, inefficient energy use, absence of time-of-use tariffs, and the need for large capital investments to meet current and future expansion. Electrical energy consumption in Saudi Arabia increased sharply during the last two decades due to rapid economic development and the absence of energy conservation measures. Peak loads reached nearly 24GW in 2001-25 times their 1975 level-and are expected to approach 60GW by 2023. The total investment needed to meet this demand may exceed $90 billion. Consequently, there is an urgent need to develop energy conservation policies for sustainable development. Current sustainable policies, particularly those pertaining to energy conservation, led to peak load savings of more than 871MW in 2001, mainly as a result of collaborations between the Ministry of Water and Electricity and the Saudi Electricity Company. In the long term, however, unless sustainable energy policies are developed at a national level, such efforts will be largely ineffective. To address this, policies and programs are being developed for public awareness, energy regulation and legislation, and energy information and programming. If energy conservation is taken into account, the forecast demand can be reduced by 5-10%. This is equivalent to 3-6GW of additional capacity, which represents a possible $1.5-3.0 billion saving over the next 20 years. Typically, investment in energy efficiency is 1% of utility sales revenues, which for a country like Saudi Arabia could be $15-60 million p.a. If only savings on air conditioning are considered, the return on investment is equivalent to 400-500MW p.a. of generating capacity-a saving of up to $0.25 billion p.a. In this

The Cost-Effectiveness of Investments to Meet the Guiding Principles for High-Performance Sustainable Buildings on the PNNL Campus

Energy Technology Data Exchange (ETDEWEB)

Cort, Katherine A.; Judd, Kathleen S.

2014-08-29

As part its campus sustainability efforts, Pacific Northwest National Laboratory (PNNL) has invested in eight new and existing buildings to ensure they meet the U.S. Department of Energy’s requirements for high performance sustainable buildings (HPSB) at DOE sites. These investments are expected to benefit PNNL by reducing the total life-cycle cost of facilities, improving energy efficiency and water conservation, and making buildings safer and healthier for the occupants. This study examines the cost-effectiveness of the implementing measures that meet the criteria for HPSBs in 3 different types of buildings on the PNNL campus: offices, scientific laboratories, and data centers. In each of the three case studies examined the investments made to achieve HPSB status demonstrated a high return on the HPSB investments that have taken place in these varied environments. Simple paybacks for total investments in the three case study buildings ranged from just 2 to 5 years; savings-to-investment ratios all exceeded the desirable threshold of 1; and the net present values associated with these investments were all positive.

18 CFR 367.4115 - Account 411.5, Investment tax credit adjustments, other.

Science.gov (United States)

2010-04-01

..., Investment tax credit adjustments, other. 367.4115 Section 367.4115 Conservation of Power and Water Resources....4115 Account 411.5, Investment tax credit adjustments, other. This account must include the amount of those investment tax credit adjustments not properly included in other accounts. ...

Aging infrastructure creates opportunities for cost-efficient restoration of aquatic ecosystem connectivity.

Science.gov (United States)

Neeson, Thomas M; Moody, Allison T; O'Hanley, Jesse R; Diebel, Matthew; Doran, Patrick J; Ferris, Michael C; Colling, Timothy; McIntyre, Peter B

2018-06-09

A hallmark of industrialization is the construction of dams for water management and roads for transportation, leading to fragmentation of aquatic ecosystems. Many nations are striving to address both maintenance backlogs and mitigation of environmental impacts as their infrastructure ages. Here, we test whether accounting for road repair needs could offer opportunities to boost conservation efficiency by piggybacking connectivity restoration projects on infrastructure maintenance. Using optimization models to align fish passage restoration sites with likely road repair priorities, we find potential increases in conservation return-on-investment ranging from 17% to 25%. Importantly, these gains occur without compromising infrastructure or conservation priorities; simply communicating openly about objectives and candidate sites enables greater accomplishment at current funding levels. Society embraces both reliable roads and thriving fisheries, so overcoming this coordination challenge should be feasible. Given deferred maintenance crises for many types of infrastructure, there could be widespread opportunities to enhance the cost effectiveness of conservation investments by coordinating with infrastructure renewal efforts. © 2018 by the Ecological Society of America.

Commercial mortgages: An underutilized channel for scaling energy efficiency investments?

Energy Technology Data Exchange (ETDEWEB)

Mathew, Paul; Wallace, Nancy; Alschuler, Elena; Kolstad, Leonard

2016-02-01

Commercial mortgages currently do not fully account for energy factors in underwriting and valuation, particularly as it relates to the impact of energy costs and volatility on an owner’s net operating income. As a consequence, energy efficiency is not properly valued and energy risks are not properly assessed and mitigated. Commercial mortgages are a large lever and could be a significant channel for scaling energy efficiency investments. A pilot analysis of loans with different mortgage contract structures and locations showed that when energy cost volatility was included in mortgage valuation, a 20% reduction in energy use resulted in a 1.3% average increase in mortgage value. This suggests that the explicit inclusion of energy use and volatility in mortgage valuation can send a strong price signal that financially rewards and values energy efficiency in commercial properties. This paper presents findings from a scoping study addressing energy factors in commercial mortgages. First, we present a review of current practices as it relates to incorporating energy factors into commercial mortgage underwriting and valuation. Next, we detail the impacts of energy factors on property values, net operating income and mortgage valuation. Building operational practices alone can result in energy use variations from -17% to 87%. Finally, we present a set of proposed interventions to properly address energy factors in commercial mortgages, based on extensive discussions with stakeholders including mortgage originators, underwriters, building owners and regulators.

Financial appraisal of efficiency investments. Why the good may be the worst enemy of the best

Energy Technology Data Exchange (ETDEWEB)

Verbruggen, A. [University of Antwerp, Prinsstraat 13, 2000 Antwerp (Belgium)

2012-11-15

This methodological paper has a didactic goal: improving our understanding of what 'cost optimal energy performance of buildings' means and how financial appraisal of efficiency investments must be set up. Three items merit improvement. First, focus on the endowment character of energy performance of long-living assets like buildings. Second, defining cost optimal requires more than a comparative static trade-off scheme; cost optimal refers to dynamic efficiency, which results from technology dynamics induced by changes in society and policy. Third, financial appraisal is a more complex issue than simple net present value and life cycle cost calculations. It must reflect the time sequential dynamics of real-life processes including real-life decision making. Financial appraisal is embedded in a complex framework made up by three dimensions: future time, doubt and irrevocability. The latter dimension connects with issues like lock-in and path dependency that are generally overlooked in net present value calculations. This may lead to very erroneous recommendations regarding efficiency investments, in particular regarding the energy performance endowment of buildings. Mostly irrevocability is used as an argument to 'wait and learn' what has, for example, blocked the pace of climate policy. But the opposite 'choose or lose' is the logical outcome when the methodology is fed with evidenced expectations. The latter boosts energy efficiency to its boundaries, saving it from the middle-of-the-river quagmire where incomplete appraisals are dropping it too often (making the good the worst enemy of the best)

Investment Avenues

Science.gov (United States)

Jain, Priyanka

2012-11-01

Investors are a heterogeneous group, they may be large or small, rich or poor, expert or lay man and not all investors need equal degree of protection (Mayya, 1996). An investor has three objectives while investing his money, namely safety of invested money, liquidity position of invested money and return on investment. The return on investment may further be divided into capital gain and the rate of return on investment as interest or dividend. Among all investment options available, securities are considered the most challenging as well as rewarding. Securities include shares, debentures, derivatives, units of mutual funds, Government securities etc. An investor may be an individual or corporate legal entity investing funds with a view to derive maximum economic advantage from investment such as rate of return, capital appreciation, marketability, tax advantage and convenience of investment.The Capital market facilitates mobilization of savings of individuals and pools them into reservoir of capital which can be used for the economic development of a country. An efficient capital market is essential for raising capital by the corporate sector of the economy and for the protection of the interest of investors in corporate securities. There arises a need to strike a balance between raising of capital for economic development on one side and protection of investors on the other. Unless the interests of investors are protected, raising of capital, by corporates is not possible. Like, the primary objective of a senior citizenís asset allocation is the generation of regular income.

Conservation heating and energy efficiency at the National Trust. Theory and practice

Energy Technology Data Exchange (ETDEWEB)

Blades, Nigel; Rice, Kirsty [The National Trust, Warrington (United Kingdom)

2011-07-01

The National Trust uses conservation heating as its main method of environmental control for the care of collections in historic houses. This paper presents work the National Trust is undertaking to understand the energy use of its conservation heating systems and to operate them as energy-efficiently as possible, in the light of the National Trust's 2020 energy targets which seek to reduce overall energy consumption across the organisation by 20 % and to shift to 50 % renewable energy sources. The energy demand of conservation heating systems is analysed using degree days; measured energy consumption data are presented; and the reductions in fuel cost and CO{sub 2} emissions achievable though switching from oil-fired to wood pellet fuel, demonstrated. (orig.)

Customer system efficiency improvement assessment: Supply curves for transmission and distribution conservation options

Energy Technology Data Exchange (ETDEWEB)

Tepel, R.C.; Callaway, J.W.; De Steese, J.G.

1987-11-01

This report documents the results of Task 6 in the Customer System Efficiency Improvement (CSEI) Assessment Project. A principal objective of this project is to assess the potential for energy conservation in the transmission and distribution (TandD) systems of electric utilities in the BPA service area. The scope of this assessment covers BPA customers in the Pacific Northwest region and all non-federal TandD systems, including those that currently place no load on the BPA system. Supply curves were developed to describe the conservation resource potentially available from TandD-system efficiency improvements. These supply curves relate the levelized cost of upgrading existing equipment to the estimated amount of energy saved. Stated in this form, the resource represented by TandD loss reductions can be compared with other conservation options and regional electrical generation resources to determine the most cost-effective method of supplying power to the Pacific Northwest. The development of the supply curves required data acquisition and methodology development that are also described in this report. 11 refs., 11 figs., 16 tabs.

Not more, but strategic collaboration needed to conserve Borneo's orangutan

Directory of Open Access Journals (Sweden)

Courtney L. Morgans

2017-07-01

Full Text Available In conservation, Collaboration is thought to improve returns from investment and is frequently encouraged, however not all collaborations are equal and may therefore lack characteristics important for addressing collective action problems. Furthermore, partnerships that are advantageous for a collective may not necessarily be advantageous for an individual. This study investigated collaboration within the Bornean orangutan (Pongo pygmaeus conservation sector – a system with reported inefficiencies and for which there has been a renewed call for collaborative partnerships. Collaborative partnerships were conceptualised as a social network and analysed using exponential random graph modelling. The prevalence of structural attributes associated with social processes considered to be important for solving collective action problems such as trust and innovation were investigated. Qualitative surveying techniques were used to measure the perceptions of collaboration held by individual actors within the network and the impact of organizational attributes on network formation and perceptions was assessed. Collaboration was found to be occurring within the conservation network and was positively perceived at the individual organisational level. At the collective level, the current collaborative network contains some structural characteristics important for addressing the collective-action problem of orangutan conservation, particularly through innovation and knowledge sharing. However efforts to develop trust between organisations may be needed. To improve returns on investment, future collaborative partnerships must be strategically implemented with individual roles and desired overall outcomes explicitly articulated. Increased operational transparency and improved performance evaluation will be critical for achieving improved collaborative efficiency.

Biodiversity conservation in a changing climate: a review of threats and implications for conservation planning in Myanmar.

Science.gov (United States)

Rao, Madhu; Saw Htun; Platt, Steven G; Tizard, Robert; Poole, Colin; Than Myint; Watson, James E M

2013-11-01

High levels of species richness and endemism make Myanmar a regional priority for conservation. However, decades of economic and political sanctions have resulted in low conservation investment to effectively tackle threats to biodiversity. Recent sweeping political reforms have placed Myanmar on the fast track to economic development-the expectation is increased economic investments focused on the exploitation of the country's rich, and relatively intact, natural resources. Within a context of weak regulatory capacity and inadequate environmental safeguards, rapid economic development is likely to have far-reaching negative implications for already threatened biodiversity and natural-resource-dependent human communities. Climate change will further exacerbate prevailing threats given Myanmar's high exposure and vulnerability. The aim of this review is to examine the implications of increased economic growth and a changing climate within the larger context of biodiversity conservation in Myanmar. We summarize conservation challenges, assess direct climatological impacts on biodiversity and conclude with recommendations for long-term adaptation approaches for biodiversity conservation.

Quick scan energy conservation investments in the social rental sector; Quick scan investeren in energiebesparing sociale huursector

Energy Technology Data Exchange (ETDEWEB)

NONE

2013-07-15

Through a brief examination it is inventoried to what extent Dutch government policy affects the number of projects and investment with regard to energy conservation in the social rental sector. June 2013, a brief questionnaire was sent by email to contacts of the Energy Team of the Dutch 'Woonbond' (association of (potential) tenants) to gain insight into the present situation. This report presents the results [Dutch] Via een kort onderzoek is geinventariseerd in hoeverre het kabinetsbeleid invloed heeft op het aantal projecten en investeringen in energiebesparing in de sociale huursector. In juni is via een korte vragenlijst per email onder contacten van het Energieteam van de Nederlandse Woonbond bij woningcorporaties gepeild wat de situatie is. In deze rapportage worden de resultaten weergegeven.

A two-factor method for appraising building renovation and energy efficiency improvement projects

International Nuclear Information System (INIS)

Martinaitis, Vytautas; Kazakevicius, Eduardas; Vitkauskas, Aloyzas

2007-01-01

The renovation of residential buildings usually involves a variety of measures aiming at reducing energy and building maintenance bills, increasing safety and market value, and improving comfort and aesthetics. A significant number of project appraisal methods in current use-such as calculations of payback time, net present value, internal rate of return or cost of conserved energy (CCE)-only quantify energy efficiency gains. These approaches are relatively easy to use, but offer a distorted view of complex modernization projects. On the other hand, various methods using multiple criteria take a much wider perspective but are usually time-consuming, based on sometimes uncertain assumptions and require sophisticated tools. A 'two-factor' appraisal method offers a compromise between these two approaches. The main idea of the method is to separate investments into those related to energy efficiency improvements, and those related to building renovation. Costs and benefits of complex measures, which both influence energy consumption and improve building constructions, are separated by using a building rehabilitation coefficient. The CCE is used for the appraisal of energy efficiency investments, while investments in building renovation are appraised using standard tools for the assessment of investments in maintenance, repair and rehabilitation

Generating spatially optimized habitat in a trade-off between social optimality and budget efficiency.

Science.gov (United States)

Drechsler, Martin

2017-02-01

Auctions have been proposed as alternatives to payments for environmental services when spatial interactions and costs are better known to landowners than to the conservation agency (asymmetric information). Recently, an auction scheme was proposed that delivers optimal conservation in the sense that social welfare is maximized. I examined the social welfare and the budget efficiency delivered by this scheme, where social welfare represents the difference between the monetized ecological benefit and the conservation cost incurred to the landowners and budget efficiency is defined as maximizing the ecological benefit for a given conservation budget. For the analysis, I considered a stylized landscape with land patches that can be used for agriculture or conservation. The ecological benefit was measured by an objective function that increases with increasing number and spatial aggregation of conserved land patches. I compared the social welfare and the budget efficiency of the auction scheme with an agglomeration payment, a policy scheme that considers spatial interactions and that was proposed recently. The auction delivered a higher level of social welfare than the agglomeration payment. However, the agglomeration payment was more efficient budgetarily than the auction, so the comparative performances of the 2 schemes depended on the chosen policy criterion-social welfare or budget efficiency. Both policy criteria are relevant for conservation. Which one should be chosen depends on the problem at hand, for example, whether social preferences should be taken into account in the decision of how much money to invest in conservation or whether the available conservation budget is strictly limited. © 2016 Society for Conservation Biology.

Integrating conservation costs into sea level rise adaptive conservation prioritization

Directory of Open Access Journals (Sweden)

Mingjian Zhu

2015-07-01

Full Text Available Biodiversity conservation requires strategic investment as resources for conservation are often limited. As sea level rises, it is important and necessary to consider both sea level rise and costs in conservation decision making. In this study, we consider costs of conservation in an integrated modeling process that incorporates a geomorphological model (SLAMM, species habitat models, and conservation prioritization (Zonation to identify conservation priorities in the face of landscape dynamics due to sea level rise in the Matanzas River basin of northeast Florida. Compared to conservation priorities that do not consider land costs in the analysis process, conservation priorities that consider costs in the planning process change significantly. The comparison demonstrates that some areas with high conservation values might be identified as lower priorities when integrating economic costs in the planning process and some areas with low conservation values might be identified as high priorities when considering costs in the planning process. This research could help coastal resources managers make informed decisions about where and how to allocate conservation resources more wisely to facilitate biodiversity adaptation to sea level rise.

Energy Efficiency of a Greenhouse for the Conservation of Forestry Biodiversity

Directory of Open Access Journals (Sweden)

Alvaro Marucci

2013-01-01

Full Text Available Forest biodiversity conservation is one of the most interesting and crucial problems in forestry world. Currently, the conservation methods are based on two phases: the conservation of seeds at low temperatures and the multiplication of vegetable material. This latter operation can be successfully developed in properly designed greenhouses. The aim of this paper is to define a type of greenhouse which is particularly suitable for plant material propagation in order to preserve forest biodiversity in the area of the Central Italy. Some general parameters were first defined for a correct planning of the structure, such as: the shape of the section, volume, cover material, systems for heating and cooling, and those for the control of the internal microclimate parameters (light, air temperature, and relative humidity. Considering the construction characteristics and the climatic conditions of the place, the internal microclimatic conditions have been later determined by the useful implementation in TRNSYS in order to analyse the energy efficiency of the greenhouse.

Public preferences for investments in renewable energy production and energy efficiency

International Nuclear Information System (INIS)

Noblet, Caroline L.; Teisl, Mario F.; Evans, Keith; Anderson, Mark W.; McCoy, Shannon; Cervone, Edmund

2015-01-01

In this paper we investigate the choices citizens make when asked to express willingness to support a proposed energy policy and are then compelled to allocate the program funds to either renewable energy or energy efficiency. In a survey study based on a random sample of residents of the state of Maine, USA, we find that citizens have preferences for specific types of renewable energy but these preferences do not yield significantly different allocation of investment funds between renewable energy and energy efficiency. We find that preferences are generally consistent regardless of presentation of options (i.e. limited ordering effects). Our results also indicate that personal characteristics that are understudied in the energy literature, including promotion/prevention focus and social/fiscal leanings, influence both willingness to support energy policies and also their allocation of fund choices, but in different ways. This suggests the importance of including multiple options in energy policy proposals, and that targeted messages regarding the components of such policies is key for optimal communication. - Highlights: • Support for energy policies depends on the type of renewable energy included. • Citizens chose to allocate more funds to energy efficiency than renewable energies. • Promotion or prevention focus impacts support for policy and allocation decisions. • Social and fiscal leanings impact support and allocation, in different ways.

Investing in sustainability at Coral World

International Nuclear Information System (INIS)

Jackson, O.

2000-01-01

Now open and operational for several years, Coral World offers a unique environmental model for other tourism-related facilities throughout the Caribbean and beyond. The extensive energy conservation program has yielded a 40 to 50% reduction in energy use and costs. The facility's unique on-site storm water absorption system virtually eliminates silt runoff to the coastal waters. The innovative, highly cost-effective series of renewable energy installations include a photovoltaic-powered restaurant kitchen, solar hot water systems and one of the world's first hydroelectric systems that uses wastewater drainage for turbine source waters. The extensive marine environmental conservation program protects fragile local ecosystems while also protecting the owners' investment in tourism. By investing aggressively in sustainability, Coral World's owners are reaping the benefits not only in reduced operating costs and improved profitability, but also in increased visitor volume and satisfaction

Land market feedbacks can undermine biodiversity conservation.

Science.gov (United States)

Armsworth, Paul R; Daily, Gretchen C; Kareiva, Peter; Sanchirico, James N

2006-04-04

The full or partial purchase of land has become a cornerstone of efforts to conserve biodiversity in countries with strong private property rights. Methods used to target areas for acquisition typically ignore land market dynamics. We show how conservation purchases affect land prices and generate feedbacks that can undermine conservation goals, either by displacing development toward biologically valuable areas or by accelerating its pace. The impact of these market feedbacks on the effectiveness of conservation depends on the ecological value of land outside nature reserves. Traditional, noneconomic approaches to site prioritization should perform adequately in places where land outside reserves supports little biodiversity. However, these approaches will perform poorly in locations where the countryside surrounding reserves is important for species' persistence. Conservation investments can sometimes even be counterproductive, condemning more species than they save. Conservation is most likely to be compromised in the absence of accurate information on species distributions, which provides a strong argument for improving inventories of biodiversity. Accounting for land market dynamics in conservation planning is crucial for making smart investment decisions.

Exploring the potential for energy conservation in French households through hybrid modeling

International Nuclear Information System (INIS)

Giraudet, Louis-Gaëtan; Guivarch, Céline; Quirion, Philippe

2012-01-01

Although the building sector is recognized as having major potential for energy conservation and carbon dioxide emission mitigation, conventional bottom–up and top–down models are limited in their ability to capture the complex economic and technological dynamics of the sector. This paper introduces a hybrid framework developed to assess future household energy demand in France. Res-IRF, a bottom–up module of energy consumption for space heating, has several distinctive features: (i) a clear separation between energy efficiency, i.e. investment in energy efficient technologies, and sufficiency, i.e. changes in the utilization of energy consuming durables which allows the rebound effect to be assessed; (ii) the inclusion of barriers to energy efficiency in the form of intangible costs, consumer heterogeneity parameters and the learning-by-doing process; (iii) an endogenous determination of retrofitting which represents trade-offs between retrofit quantity and quality. Subsequently, Res-IRF is linked to the IMACLIM-R computable general equilibrium model. This exercise shows that, compared to a 37% reduction in final energy demand achievable in business as usual in existing dwellings in 2050, an additional reduction of 21% could be achieved if relevant barriers to efficiency and sufficiency were overcome. - Highlights: ► The paper introduces a hybrid framework developed to assess future household energy demand in France. ► The model offers a clear separation between investment in energy efficient technologies and changes in their utilization. ► Intangible costs, heterogeneous discount rates and learning-by-doing functions mimic some barriers to energy efficiency. ► Simulations show that a 37% energy demand reduction could be achieved in business as usual in existing dwellings in 2050. ► An additional reduction of 21% could be achieved if relevant barriers to energy conservation were overcome.

Efficient Conservation in a Utility-Maximization Framework

Directory of Open Access Journals (Sweden)

Frank W. Davis

2006-06-01

Full Text Available Systematic planning for biodiversity conservation is being conducted at scales ranging from global to national to regional. The prevailing planning paradigm is to identify the minimum land allocations needed to reach specified conservation targets or maximize the amount of conservation accomplished under an area or budget constraint. We propose a more general formulation for setting conservation priorities that involves goal setting, assessing the current conservation system, developing a scenario of future biodiversity given the current conservation system, and allocating available conservation funds to alter that scenario so as to maximize future biodiversity. Under this new formulation for setting conservation priorities, the value of a site depends on resource quality, threats to resource quality, and costs. This planning approach is designed to support collaborative processes and negotiation among competing interest groups. We demonstrate these ideas with a case study of the Sierra Nevada bioregion of California.

Handbook on energy conservation

International Nuclear Information System (INIS)

1989-12-01

This book shows energy situation in recent years, which includes reserves of energy resource in the world, crude oil production records in OPEC and non OPEC, supply and demand of energy in important developed countries, prospect of supply and demand of energy and current situation of energy conservation in developed countries. It also deals with energy situation in Korea reporting natural resources status, energy conservation policy, measurement for alternative energy, energy management of Korea, investment in equipment and public education for energy conservation.

Paradigms for parasite conservation.

Science.gov (United States)

Dougherty, Eric R; Carlson, Colin J; Bueno, Veronica M; Burgio, Kevin R; Cizauskas, Carrie A; Clements, Christopher F; Seidel, Dana P; Harris, Nyeema C

2016-08-01

Parasitic species, which depend directly on host species for their survival, represent a major regulatory force in ecosystems and a significant component of Earth's biodiversity. Yet the negative impacts of parasites observed at the host level have motivated a conservation paradigm of eradication, moving us farther from attainment of taxonomically unbiased conservation goals. Despite a growing body of literature highlighting the importance of parasite-inclusive conservation, most parasite species remain understudied, underfunded, and underappreciated. We argue the protection of parasitic biodiversity requires a paradigm shift in the perception and valuation of their role as consumer species, similar to that of apex predators in the mid-20th century. Beyond recognizing parasites as vital trophic regulators, existing tools available to conservation practitioners should explicitly account for the unique threats facing dependent species. We built upon concepts from epidemiology and economics (e.g., host-density threshold and cost-benefit analysis) to devise novel metrics of margin of error and minimum investment for parasite conservation. We define margin of error as the risk of accidental host extinction from misestimating equilibrium population sizes and predicted oscillations, while minimum investment represents the cost associated with conserving the additional hosts required to maintain viable parasite populations. This framework will aid in the identification of readily conserved parasites that present minimal health risks. To establish parasite conservation, we propose an extension of population viability analysis for host-parasite assemblages to assess extinction risk. In the direst cases, ex situ breeding programs for parasites should be evaluated to maximize success without undermining host protection. Though parasitic species pose a considerable conservation challenge, adaptations to conservation tools will help protect parasite biodiversity in the face of

10 CFR 436.21 - Savings-to-investment ratio.

Science.gov (United States)

2010-01-01

... is the ratio of the present value savings to the present value costs of an energy or water conservation measure. The numerator of the ratio is the present value of net savings in energy or water and non... conservation measure. The denominator of the ratio is the present value of the net increase in investment and...

A new mechanism for energy conservation technology services

Energy Technology Data Exchange (ETDEWEB)

Yan, Feng

1996-12-31

In the ninth-five year plan of China, the socialist market economy model will be developed. In the stage of transferring from planning economy to market economy, the energy conservation technology services industry in China has met new challenges. Over the past ten to fifteen years, there has developed a new mechanism for financing energy efficiency investments in market economies. The process is simple. After inspecting an enterprise or an entity for energy saving opportunities, an Energy Service Company (ESCO) which business aimed at making money will review the recommended energy conservation opportunities with the enterprise or the entity (user) and implement those measures acceptable to the user at no front end cost to the user. The ESCO then guarantees that the energy savings will cover the cost of the capital renovations using the Performance Contracting.

The many factors that affect the success of regulatory mechanisms designed to foster investments in energy efficiency

Energy Technology Data Exchange (ETDEWEB)

Zarnikau [LBJ School of Public Affairs and Division of Statistics of the College of Natural Sciences, The University of Texas at Austin, Austin, TX 78713 (United States)

2012-08-15

A utility's profit-maximizing level of investment in energy efficiency or demand-side management (DSM) programs and mix of programs is affected by natural load growth, the frequency of rate cases, program costs, and the structure of any mechanism designed to either compensate the utility for foregone profits or sever the link between sales and profits. Under a range of reasonable assumptions, decoupling can incent a utility to invest in DSM. However, a utility experiencing high natural load growth and little inflation is likely to resist the imposition of a decoupling mechanism, as it would tend to lower profits. A utility with low growth in per-customer sales will tend to favor decoupling, as it will tend to lead to higher profits than under traditional regulation. The results presented here are quite sensitive to the assumptions made regarding natural load growth, regulatory lag, the frequency of price changes, price elasticity of demand, and other factors. This suggests that there is not a single approach to promoting energy efficiency without penalizing utility profits that will work in all situations for all utilities.

Energy upgrades as financial or strategic investment? Energy Star property owners and managers improving building energy performance

International Nuclear Information System (INIS)

Gliedt, Travis; Hoicka, Christina E.

2015-01-01

Highlights: • Energy Star property owners/managers view energy as strategic or financial investments. • Energy performance improvements and motivations differ by property type. • Energy projects are most often funded by internal cash reserves. • Motivations and funding sources differ by type of energy project. • Environmental sustainability is an important criterion in many energy projects. - Abstract: Due to its significant carbon footprint and cost-effectiveness for upgrades, the commercial property sector is important for climate change mitigation. Although barriers to energy system changes, such as funding, financing and information, are well recognized, Energy Star property owners and managers are successfully overcoming these barriers and instigating energy efficiency upgrades, renewable energy installations, and behavior and management programs. To examine the decision-making process that leads to energy performance improvements, a national survey of property owners and management organizations of buildings that earned an Energy Star score of 75 or higher was conducted. The extent to which energy upgrades were considered strategic investments motivated by environmental sustainability or corporate social responsibility, or financial investments motivated by payback period or return-on-investment criteria, was contingent upon the property type and type of energy project. Environmental sustainability was found to be an important motivation for energy projects in office spaces in general, but in the case of smaller office spaces was often combined with motivations for corporate social responsibility. Energy projects on education properties were motivated by financial investment. Building envelope and mechanical efficiency upgrades were considered financial investments, while renewable energy, green roofs, and water conservation technologies were considered environmental sustainability initiatives

NACUBO's Guide to Unitizing Investment Pools. Second Edition

Science.gov (United States)

Wheeler, Mary S.

2011-01-01

The National Association of College and University Business Officers' (NACUBO's) "Guide to Unitizing Investment Pools" addresses the principles and concepts for administering a consolidated investment pool. Unitization is the mechanism by which investment funds are pooled to maximize investment efficiencies and provide information for donors,…

Determinants of Discretionary Investments

Directory of Open Access Journals (Sweden)

K. S. Sujit

2016-03-01

Full Text Available Theoretical and empirical studies have focused on discretionary investments such as research and development (R&D and advertisement as value-creating activities. This empirical research article examines the determinants of the discretionary investment policy of food sector firms in India. The study aims to analyze the impact of financial policies and firm characteristics on the discretionary investment strategy of the food industry firms. The article uses the partial least squares structural equation modeling (PLS-SEM to understand the drivers of discretionary investment policy of food sector firms. The study finds that investment policy of firms is a major determinant of profitability of food sector firms. Higher investments in capital expenditures and working capital result in higher profitability. Management efficiency significantly influences firm profitability. The results suggest that riskier firms in food sector might focus on R&D investments as a strategy to generate more cash flows. Size of firm is negatively related to R&D intensity. Smaller firms in food sector tend to invest more in R&D. The study does not provide evidence to suggest that profitable firms invest more in R&D activities.

Evidence, models, conservation programs and limits to management

Science.gov (United States)

Nichols, J.D.

2012-01-01

Walsh et al. (2012) emphasized the importance of obtaining evidence to assess the effects of management actions on state variables relevant to objectives of conservation programs. They focused on malleefowl Leipoa ocellata, ground-dwelling Australian megapodes listed as vulnerable. They noted that although fox Vulpes vulpes baiting is the main management action used in malleefowl conservation throughout southern Australia, evidence of the effectiveness of this action is limited and currently debated. Walsh et al. (2012) then used data from 64 sites monitored for malleefowl and foxes over 23 years to assess key functional relationships relevant to fox control as a conservation action for malleefowl. In one set of analyses, Walsh et al. (2012) focused on two relationships: fox baiting investment versus fox presence, and fox presence versus malleefowl population size and rate of population change. Results led to the counterintuitive conclusion that increases in investments in fox control produced slight decreases in malleefowl population size and growth. In a second set of analyses, Walsh et al. (2012) directly assessed the relationship between investment in fox baiting and malleefowl population size and rate of population change. This set of analyses showed no significant relationship between investment in fox population control and malleefowl population growth. Both sets of analyses benefited from the incorporation of key environmental covariates hypothesized to influence these management relationships. Walsh et al. (2012) concluded that "in most situations, malleefowl conservation did not effectively benefit from fox baiting at current levels of investment." In this commentary, I discuss the work of Walsh et al. (2012) using the conceptual framework of structured decision making (SDM). In doing so, I accept their analytic results and associated conclusions as accurate and discuss basic ideas about evidence, conservation and limits to management.

The economic rationale for investing decisions innovative projects rationalization of investments for innovative projects

Directory of Open Access Journals (Sweden)

L. O. Zhitinskaya

2017-01-01

Full Text Available The article provides a selection of methods for determining the feasibility of an investment-innovative project. Estimated indicators are identified analytically, on their basis a conclusion is made about the economic efficiency and feasibility of the project, which is the basis of its competitiveness. Such growth analytics is necessary, since the social and economic development of the country and the region largely depends on the investment climate, which is facilitated by the legislation of the Russian Federation (the Tax Code of the Russian Federation, the law of the Russian Federation on the regulation of investment activities, etc.. Since competitiveness is also determined by the economic feasibility and financial solvency of innovative projects, modern information and software, as well as the methodology for project appraisal and the corresponding order of their implementation, are needed. In the Russian Federation, a method is used to assess the efficiency of capital investments in capitalist countries, as well as the methodology of economic (competitive analysis of investment-innovative projects. The basis of the method is that reimbursement of investments occurs in two economic forms: net profit and depreciation (net income. Of the numerous methods for assessing the feasibility of investment, the most often used along with discount methods (taking into account the factor of money changes over time, statistical methods with determining the payback period and the average rate of return on investment. Defined indicators: the net present value (NPV and the internal rate of return (IRR. The methodology specified in the article is useful to the investor in order to rationalize investment flows, helps to achieve the maximum IRR. The implementation of the innovative project serves the competitiveness of the manufacturing enterprise by increasing the technical and technological levels of the products.

PPP mode’s applications motivation in the field of water conservancy project - based on the “money service” theory of Milton Friedman

Science.gov (United States)

Chen, Zurong; Feng, Jingchun; Wang, Yuting; Xue, Song

2017-06-01

We study on PPP mode’s applications motivation in the field of water conservancy project, on the basis of analyzing Friedman’s “money service” theory, for the disadvantages of traditional investment mode in water conservancy project field. By analyzing the way of government and social capital spending money in PPP projects, we get conclusion that both of which are the way of “spending their own money to do their own thing”, which fully reflects that the two sides are a win-win partnership in PPP mode. From the application motivation, PPP mode can not only compensate for the lack of local funds, improve the investment efficiency of the government, but also promote marketization and the supply-side structural reforms.

Fiscal 1999 feasibility study on energy conservation at Novo-oil refinery in Ufa City

Energy Technology Data Exchange (ETDEWEB)

NONE

2000-03-31

An energy conservation plan was examined for Novo oil refinery of Bashneftechim Company in Ufa City, Bashkortstan, Russia for the purpose of making the plan tied to the COP3 joint implementation. The objective units in the study include an atmospheric and vacuum distillation unit with throughput of 7.8 million tons/year, a visbreaker and a vacuum gas oil hydrodesulfurization unit (for feedstock of FCC in Lenin Refinery), and a catalytic cracking unit, for example. Energy conservation measures are improvement and revamping of heating furnace to control excess air ratio in furnace, installation of air pre-heater or heat recovery boiler to recover heat from exhaust gas of heating furnace, additional installation of heat exchangers to recover heat from product oils, and efficiency improvement of overall operation by modernization of instrumentation and controlling equipment. The policy is not complete rebuilding of the facilities but utilizing the existing facilities by improving energy efficiency as far as possible. The study shows that investment for energy saving will be recovered within 3-6 years in many cases while total investment is estimated to be 1.5-3.0 billion yen. Total reduction of fuel consumption will be 500-800 million yen. Yearly reduction of CO2 emission will amount to 0.29 million tons (23%). (NEDO)

Environmental investment and firm performance: A network approach

International Nuclear Information System (INIS)

Bostian, Moriah; Färe, Rolf; Grosskopf, Shawna; Lundgren, Tommy

2016-01-01

This study examines the role of investment in environmental production practices for both environmental performance and energy efficiency over time. We employ a network DEA approach that links successive production technologies through intertemporal investment decisions with a period by period estimation. This allows us to estimate energy efficiency and environmental performance separately, as well as productivity change and its associated decompositions into efficiency change and technology change. Incorporating a network model also allows us to account for both short-term environmental management practices and long-term environmental investments in each of our productivity measures. We apply this framework to a panel of detailed plant-level production data for Swedish manufacturing firms covering the years 2002–2008. - Highlights: • We use a network DEA model to account for intertemporal environmental investment decisionsin measures of firm productivity. • We apply our network technology model to a panel of firms in Sweden's pulp and paperindustry for the years 2002 - 2008. • We model environmental investments and expenditures separately from other productionoriented inputs. • We find evidence of positive relationships between energy efficiency, environmental performance, and firm productivity.

Energy conservation and efficiency in Giprokoks designs at Ukrainian ferrous-metallurgical enterprises

Energy Technology Data Exchange (ETDEWEB)

M.I. Fal' kov [Giprokoks, the State Institute for the Design of Coke-Industry Enterprises, Kharkov (Ukraine)

2009-07-15

Energy conditions at Ukrainian ferrous-metallurgical enterprises are analyzed. Measures to boost energy conservation and energy efficiency are proposed: specifically, the introduction of systems for dry slaking of coke; and steam-gas turbines that employ coke-oven gas or a mixture of gases produced at metallurgical enterprises. Such turbines may be built from Ukrainian components.

Small Businesses Save Big: A Guide to Help SBA Lenders Understand and Communicate the Value of Energy Efficiency Investments (Fact Sheet)

Energy Technology Data Exchange (ETDEWEB)

2015-01-01

Dollars saved through energy efficiency can directly impact your bottom line. Whether you are planning for a major renovation or upgrading individual pieces of building equipment, these improvements can help reduce operating costs, save on utility bills, and boost profits. This fact sheet provides guidelines for SBA lenders to understand the value of financing energy efficiency investments.

18 CFR 367.4114 - Account 411.4, Investment tax credit adjustments, service company property.

Science.gov (United States)

2010-04-01

..., Investment tax credit adjustments, service company property. 367.4114 Section 367.4114 Conservation of Power... Operating Income § 367.4114 Account 411.4, Investment tax credit adjustments, service company property. This account must include the amount of those investment tax credit adjustments that relate to service company...

Insufficient incentives for investment in electricity generations

Energy Technology Data Exchange (ETDEWEB)

Neuhoff, K. [Cambridge University (United Kingdom). Dept. of Applied Economics; De Vries, L. [Delft University of Technology (Netherlands). Faculty of Technology, Policy and Management

2004-12-01

In theory, competitive electricity markets provide incentives for efficient investment in generation capacity. We show that if consumers and investors are risk averse, investment is efficient only if investors in generation capacity can sign long-term contracts with consumers. Otherwise the uncovered price risk increases financing costs, reduces equilibrium investment levels, distorts technology choice towards less capital-intensive generation and reduces consumer utility. We observe insufficient levels of long-term contracts in existing markets, possibly because retail companies are not credible counter-parties if their final customers can switch easily between them. With a consumer franchise, retailers can sign long-term contracts, but this solution comes at the expense of retail competition. Alternative capacity mechanisms to stimulate investment are discussed. (author)

Efficient use of energy: investment practice in industry; Effiziente Energienutzung: Investitionspraxis in der Industrie

Energy Technology Data Exchange (ETDEWEB)

Kuster, J. [BHP - Brugger, Hanser und Partner AG, Zuerich (Switzerland); Zweiacker, J.-F. [Rapp AG Ingenieure und Planer, Biel (Switzerland); Rosch, M. [Consulting Verfahrenstechnik, Allschwil (Switzerland)

2000-07-01

This report for the Swiss Federal Office of Energy (SFOE) presents the results of a study made on drying processes used in industry and possible ways of promoting investment in measures to increase the efficient use of energy. The energy consumption of dehydration and drying processes used in industry is examined and the savings potential for these processes estimated. Examples of the processes investigated are given and figures for the energy consumption for dehydration and drying processes in several different industrial sectors are quoted. The report then examines, on the one hand, the factors that hem innovations in this area and, on the other, those that promote them. Further, the report looks into which reasons are responsible for the realisation or non-realisation of technically and economically viable solutions for improving the energy-efficiency of the dehydration and drying processes.

Investing in Early Human Development: Timing and Economic Efficiency

Science.gov (United States)

Doyle, Orla; Harmon, Colm P.; Heckman, James J.; Tremblay, Richard E.

2010-01-01

Policy discussions to ameliorate socioeconomic (SES) inequalities are increasingly focused on investments in early childhood. Yet such interventions are costly to implement, and clear evidence on the optimal time to intervene to yield a high economic and social return in the future is meagre. The majority of successful early childhood interventions start in the preschool years. However socioeconomic gradients in cognitive skills, socio-emotional functioning and health can be observed by age three, suggesting that preventative programmes starting earlier in childhood may be even more effective. We discuss the optimal timing of early childhood intervention with reference to recent research in developmental neuroscience. We motivate the need for early intervention by providing an overview of the impact of adverse risk factors during the antenatal and early childhood periods on outcomes later in life. We provide a brief review of the economic rationale for investing early in life and propose the “antenatal investment hypothesis”. We conclude by discussing a suite of new European interventions that will inform this optimal timing debate. PMID:19213617

Constraints of philanthropy on determining the distribution of biodiversity conservation funding.

Science.gov (United States)

Larson, Eric R; Howell, Stephen; Kareiva, Peter; Armsworth, Paul R

2016-02-01

Caught between ongoing habitat destruction and funding shortfalls, conservation organizations are using systematic planning approaches to identify places that offer the highest biodiversity return per dollar invested. However, available tools do not account for the landscape of funding for conservation or quantify the constraints this landscape imposes on conservation outcomes. Using state-level data on philanthropic giving to and investments in land conservation by a large nonprofit organization, we applied linear regression to evaluate whether the spatial distribution of conservation philanthropy better explained expenditures on conservation than maps of biodiversity priorities, which were derived from a planning process internal to the organization and return on investment (ROI) analyses based on data on species richness, land costs, and existing protected areas. Philanthropic fund raising accounted for considerably more spatial variation in conservation spending (r(2) = 0.64) than either of the 2 systematic conservation planning approaches (r(2) = 0.08-0.21). We used results of one of the ROI analyses to evaluate whether increases in flexibility to reallocate funding across space provides conservation gains. Small but plausible "tax" increments of 1-10% on states redistributed to the optimal funding allocation from the ROI analysis could result in gains in endemic species protected of 8.5-80.2%. When such increases in spatial flexibility are not possible, conservation organizations should seek to cultivate increased support for conservation in priority locations. We used lagged correlations of giving to and spending by the organization to evaluate whether investments in habitat protection stimulate future giving to conservation. The most common outcome at the state level was that conservation spending quarters correlated significantly and positively with lagged fund raising quarters. In effect, periods of high fund raising for biodiversity followed (rather than

Water demand management in times of drought: What matters for water conservation

Science.gov (United States)

Maggioni, Elena

2015-01-01

Southern California is subject to long droughts and short wet spells. Its water agencies have put in place voluntary, mandatory, and market-based conservation strategies since the 1980s. By analyzing water agencies' data between 2006 and 2010, this research studies whether rebates for water efficient fixtures, water rates, or water ordinances have been effective, and tests whether structural characteristics of water agencies have affected the policy outcome. It finds that mandates to curb outdoor water uses are correlated with reductions in residential per capita water usage, while water rates and subsidies for water saving devices are not. It also confirms that size is a significant policy implementation factor. In a policy perspective, the transition from a water supply to a water demand management-oriented strategy appears guided by mandates and by contextual factors such as the economic cycle and the weather that occur outside the water governance system. Three factors could improve the conservation effort: using prices as a conservation tool, not only as a cost recovering instrument; investing in water efficient tools only when they provide significant water savings; supporting smaller agencies in order to give them opportunities to implement conservation strategies more effectively or to help them consolidate.

Using Stochastic Frontier Analysis to Analyze Adjustment Costs and Investment Utilization

DEFF Research Database (Denmark)

Olsen, Jakob Vesterlund; Henningsen, Arne

of additional inputs and an initially incomplete investment utilization results in an output level that is temporarily not at its maximum. We estimate an output distance function as a stochastic "Efficiency Effects Frontier" model (Battese & Coelli 1995), where the estimated technical inefficiencies...... are explained with current and lagged investments, farm size, age of the farmer, and interaction terms between these variables. Furthermore, we derive the formula for calculating the marginal effects on technical efficiency for "Efficiency Effects Frontier" models so that we can calculate the (marginal) effect...... of current and past investments on technical efficiency, which we interpret as adjustment costs and temporary incomplete investment utilization. We apply this methodology to a large panel data set of Danish pig producers with 9,281 observations between 1996 and 2008. The results show that investments have...

Belief and Investing: Preferences and Attitudes of the Faithful

Directory of Open Access Journals (Sweden)

Mark Brimble1

2013-03-01

Full Text Available This Australian study seeks to better understand the disparity between the positive attitudes towards Socially Responsible Investing (SRI and the level of investment in SRI (Saulwick &Associates 2001; Watmore & Bradley 2001; Williams 2007; Arjalies 2010, by examining both the attitudes to SRI and the investment choices that are made. It is hypothesised that those who are more committed to religious belief principles are more likely to invest in SRI.To test this 322 people from two large Queensland organisations were surveyed in relation to their investment attitudes and preferences. Results show that those who are more religious are no more likely to invest in SRI, and that the level of importance placed on SRI and financial criteria are similar in most instances for the more and less religious. In addition, women who are religious place more importance on conservative general investment criteria than less ornon-religious women.

Best Practices for Water Conservation and Efficiency as an Alternative for Water Supply Expansion

Science.gov (United States)

EPA released a document that provides water conservation and efficiency best practices for evaluating water supply projects. The document can help water utilities and federal and state governments carry out assessments of the potential for future

APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS

Directory of Open Access Journals (Sweden)

MARIA-LOREDANA POPESCU

2011-04-01

Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.

Exploring efficacy of residential energy efficiency programs in Florida

Science.gov (United States)

Taylor, Nicholas Wade

Electric utilities, government agencies, and private interests in the U.S. have committed and continue to invest substantial resources in the pursuit of energy efficiency and conservation through demand-side management (DSM) programs. Program investments, and the demand for impact evaluations that accompany them, are projected to grow in coming years due to increased pressure from state-level energy regulation, costs and challenges of building additional production capacity, fuel costs and potential carbon or renewable energy regulation. This dissertation provides detailed analyses of ex-post energy savings from energy efficiency programs in three key sectors of residential buildings: new, single-family, detached homes; retrofits to existing single-family, detached homes; and retrofits to existing multifamily housing units. Each of the energy efficiency programs analyzed resulted in statistically significant energy savings at the full program group level, yet savings for individual participants and participant subgroups were highly variable. Even though savings estimates were statistically greater than zero, those energy savings did not always meet expectations. Results also show that high variability in energy savings among participant groups or subgroups can negatively impact overall program performance and can undermine marketing efforts for future participation. Design, implementation, and continued support of conservation programs based solely on deemed or projected savings is inherently counter to the pursuit of meaningful energy conservation and reductions in greenhouse gas emissions. To fully understand and optimize program impacts, consistent and robust measurement and verification protocols must be instituted in the design phase and maintained over time. Furthermore, marketing for program participation must target those who have the greatest opportunity for savings. In most utility territories it is not possible to gain access to the type of large scale

Foreign investment multinational companies and economic development

Directory of Open Access Journals (Sweden)

Popov Đorđe

2013-01-01

Full Text Available There is no universal answer on the question whether foreign investments stimulate economic development. The positive effect of foreign direct investments will follow when the investments is carried out under normal conditions of competition. That means, above all, low barriers for foreign trade and the low level of restrictions for foreign owned companies. In such circumstances, multinational corporations can assist the economies of penetration to make its businesses more efficient. Foreign investors bring with them brand new types of economic activities and in that way shifting the limits of business opportunities in the countries of penetration. But if the investments are implemented in markets protected with protectionist barriers of various kinds, then they could have negative effects. The negative effects are in particularly reflected in the inefficient use of domestic resources. Foreign investments depend on the macro and micro institutional reforms, low inflation, real exchange rate, and reasonably efficient legal system that protects the property rights and encourages savings and investment. The low level of corruption, together with the foregoing conditions is a prerequisite for the creation of a stimulating environment for foreign investments.

Effect of investment on financial and sports results

Directory of Open Access Journals (Sweden)

Mijatović Predrag

2015-01-01

Full Text Available This study investigated the correlation between investment, financial results and sport results achieved and to evaluate the relative efficiency of Serbian football clubs. In this regard, two postulations were examined: firstly, investments in football clubs produce better sports results; secondly, investments in football clubs result in a stronger financial position. A correlation analysis and Data Envelopment Analysis (CCR model were applied. Thirteen football clubs were included in the analysis, which represents eighty per cent of the Serbian Football League First Division Clubs. The study was conducted in the period 2009-2011that includes football seasons 2009-2010, 2010-2011 and 2011-2012. A strong positive correlation between investment and sport results was found only for the top football clubs, while the econometric regression did not show any correlation. The findings also show that there is no relation between investment and net income. The analysis of technical efficiency confirmed these findings, which revealed that the best football clubs are usually the farthest away from the efficiency frontier.

A dynamic optimization on economic energy efficiency in development: A numerical case of China

International Nuclear Information System (INIS)

Wang, Dong

2014-01-01

This paper is based on dynamic optimization methodology to investigate the economic energy efficiency issues in developing countries. The paper introduces some definitions about energy efficiency both in economics and physics, and establishes a quantitative way for measuring the economic energy efficiency. The linkage between economic energy efficiency, energy consumption and other macroeconomic variables is demonstrated primarily. Using the methodology of dynamic optimization, a maximum problem of economic energy efficiency over time, which is subjected to the extended Solow growth model and instantaneous investment rate, is modelled. In this model, the energy consumption is set as a control variable and the capital is regarded as a state variable. The analytic solutions can be derived and the diagrammatic analysis provides saddle-point equilibrium. A numerical simulation based on China is also presented; meanwhile, the optimal paths of investment and energy consumption can be drawn. The dynamic optimization encourages governments in developing countries to pursue higher economic energy efficiency by controlling the energy consumption and regulating the investment state as it can conserve energy without influencing the achievement of steady state in terms of Solow model. If that, a sustainable development will be achieved. - Highlights: • A new definition on economic energy efficiency is proposed mathematically. • A dynamic optimization modelling links economic energy efficiency with other macroeconomic variables in long run. • Economic energy efficiency is determined by capital stock level and energy consumption. • Energy saving is a key solution for improving economic energy efficiency

Investment in Renewable Energies in Argentina

OpenAIRE

Marina Recalde

2017-01-01

This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, ...

MEASURES OF EFFICIENCY AND INVESTMENTS RETURN: AN STUDY OF BRAZILIAN ELECTRICITY DISTRIBUTORS WITH DATA ENVELOPMENT ANALYSIS, MALMQUIST INDEX AND ROI

Directory of Open Access Journals (Sweden)

Valter Saurin

2013-03-01

Full Text Available This paper aims to determine, in a group of companies from the Brazilian electric sector, if there is a relationship between the return on investment (ROI and the concept of efficiency estimated by the method Data Envelopment Analysis (DEA, as well as evaluating the growth of productivity based on Malmquist Index (Fare et al, 1996. The hypothesis is that firms that had return on investment higher during certain period of time are those employed their resources efficiently in getting their outputs (DEA efficient. The input (1 Products (5 DEA model correspond to the operating cost (I, the network length (km, the number of consumers and the market billed high, medium and low voltage, respectively. The sample consisted of 31 companies of Brazilian electricity distribution and timing of the study was from 2007 to 2009. We calculated the Malmquist index (M0, represented by the change in total factor productivity (TFPC, which is composed by the evolution of technical efficiency (EC and the change in the technological frontier (TC of the companies were also determined ROI for each period. We calculated the correlation between the TFPC, TC, EC, score the DEA and the ROI for the period 2007 to 2009. The results showed a positive correlation, although weak, between efficiency change and the indexes mentioned above, rejecting the initial hypothesis

Results of the joint efforts of Bulgarian and American specialists in the programme for energy efficiency in the industry

International Nuclear Information System (INIS)

Spasov, Khr.; Folkenbury, H.

1992-01-01

The Program on Energy Efficiency in the Industry was initiated in 1991 by the US Agency for International Development in cooperation with the Bulgarian Ministry of the Industry and Commerce and the Committee for Energy (CE). Within this program a series of energy audits in 8 firms, representative for different sectors of the industry, was carried out. In 1992 the joint teams of CE, the firm Ekotekhproduct, Intern Resources Group (USA) and employees of the chosen firms completed an audit programme, aiming at facilitating the development of an energy conservation policy by providing data for establishing the measures and investment priorities for energy efficiency improvement. The measurements and the results of the carried out equipment set-ups undoubtedly proved the presence of vast recourses for energy conservation in low or zero investment procedures including measures in the following fields: setting of the combustion processes of the steam generators and water heating boilers; insulation repairs; elimination of leakages; condenser chambers repairs. The estimated gains in efficiency, the recourse conservation and the expected requites are presented for each case and for each site under study. 17 general causes for inefficient energy consumption in the industry are enumerated, among which: equipment run-down, careless operation and maintenance practice, lack of advanced control devices, lack of consistent concept for information flows, lack of control and maintenance and lack of incentives for actuation of energy conservation measures. 1 tab. (R.Ts.)

INVESTMENT ATTRACTIVENESS OF ENTERPRISES

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Nadiia Davydenko

2017-03-01

Full Text Available In the article the approaches to defining the essence of the concept of “investment attractiveness of enterprises” were analyzed. On the example of "Agrofirm Brusilov" depth analysis of the agricultural enterprises to evaluate of profitability, liquidity, solvency, financial stability, the timing of the return of invested funds and minimizing investment risks was conducted. To study methods of rating and system analysis were used. To justify the conditions of  increasing investment attractiveness farms method of scoring was used. It was established as a result of the use of integrated evaluation of the financial position one can see problem aspects of financial position of the company and develop measures to enhance liquidity, solvency, identify potential for raising the efficiency of company and prevention of financial crisis. The analysis of financial position showed that the management of the enterprise doesn’t  think  about  financial stability and solvency, does not understand the benefit of borrowed capital. Using research results in practice of agricultural enterprises allows us to give a real evaluation of investment attractiveness and justify ways to improve it. Key words: investments, investment attractiveness, potential business, financial position.

Building a conservation culture : progress report 2005

Energy Technology Data Exchange (ETDEWEB)

Ceksters, G. [Enersource Corp., Mississauga, ON (Canada); Cananzi, M. [Horizon Utilities Corp., Hamilton, ON (Canada); Leclair, R. [Hydro Ottawa Holding Inc., Ottawa, ON (Canada); Bentz, B. [PowerStream, Markham, ON (Canada); O' Brien, D.S. [Toronto Hydro, ON (Canada); Angemeer, M.C. [Veridian Connections, Ajax, ON (Canada)

2006-07-01

The PowerWise Team is comprised of the 6 largest electricity companies in Ontario, who joined forces to lay the foundation for a conservation culture in Ontario. This progress report provided details of plans implemented for their customers in order to support the province's vision of reducing peak electricity demand by 5 per cent by 2007. Accomplishments of the team to date include the development of the PowerWise website, which provides customers with updated information about conservation programs as well as energy saving tips. Members of the team have also re-branded 1100 of their fleet vehicles with the PowerWise logo. Two in-store and retail coupon programs were launched as a means of encouraging customers to experiment with new energy efficiency products, resulting in the distribution of over 2.3 million coupons. The PowerWise business incentive program was developed to encourage industrial and commercial customers to make their workplaces more energy efficient. In addition, a total of 11,175 smart meters were installed by the PowerWise alliance in a series of pilot programs to lay the foundation for the widespread introduction of smart metering. In addition to describing PowerWise programs and initiatives, an overview of programs undertaken by individual utilities was presented, with details of total conservation and demand management investment and annual energy savings. Significant strides were taken in 2005 to pave the way for a change in attitude about conservation. Plans for the future include inviting more local distribution companies to join the team, and continuing to deliver significant energy consumption reductions. 22 figs.

Residential energy consumption and conservation programs: A systematic approach to identify inefficient households, provide meaningful feedback, and prioritize homes for conservation intervention

Science.gov (United States)

Macsleyne, Amelia Chadbourne Carus

There are three main objectives for residential energy conservation policies: to reduce the use of fossil fuels, reduce greenhouse gas emissions, and reduce the energy costs seen by the consumer (U.S. Department of Energy: Strategic Objectives, 2006). A prominent difficulty currently facing conservation policy makers and program managers is how to identify and communicate with households that would be good candidates for conservation intervention, in such a way that affects a change in consumption patterns and is cost-effective. This research addresses this issue by separating the problem into three components: how to identify houses that are significantly more inefficient than comparable households; how to find the maximum financially-feasible investment in energy efficiency for a household in order to reduce annual energy costs and/or improve indoor comfort; and how to prioritize low-income households for a subsidized weatherization program. Each component of the problem is presented as a paper prepared for publication. Household consumption related to physical house efficiency, thermostat settings, and daily appliance usage is studied in the first and second paper by analyzing natural gas utility meter readings associated with over 10,000 households from 2001-2006. A rich description of a house's architectural characteristics and household demographics is attained by integrating publicly available databases based on the house address. This combination of information allows for the largest number of individual households studied at this level of detail to date. The third paper uses conservation program data from two natural gas utilities that administer and sponsor the program; over 1,000 weatherized households are included in this sample. This research focuses on natural gas-related household conservation. However, the same principles and methods could be applied for electricity-related conservation programs. We find positive policy implications from each of

IMPACT OF FOREIGN DIRECT INVESTMENT (FDI ON DOMESTIC INVESTMENT IN REPUBLIC OF CROATIA

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Igor Ivanović

2015-11-01

Full Text Available The aim of this paper is to investigate how foreign direct investment (FDI affects domestic investment in the Republic of Croatia. More precisely, the general purpose of this study is to determine the impact of net inflow of foreign capital on domestic investment in order to gain a clearer picture about the sensitivity and efficiency of domestic investment. After parsing domestic investment and FDI in Croatia, according to Croatian Bureau of Statistics and the Croatian National Bank, a historical overview of their movement from 1995 to 2014 was analyzed. In the following an overview and comparison of studies from around the world which deal with similar topic was made. In the empirical part; domestic gross fixed capital formation, changes in domestic stocks, net FDI and GDP growth rate was used as variables. Quarterly time series data ranging from the Q1 2001 to Q4 2014 were processed with the subset VAR (vector autoregressive econometric model. The results shows that FDI have negative influence on domestic investment in the Republic of Croatia with time lag.

Energy and water conservation at lignite-fired power plants using drying and water recovery technologies

International Nuclear Information System (INIS)

Liu, Ming; Qin, Yuanzhi; Yan, Hui; Han, Xiaoqu; Chong, Daotong

2015-01-01

Highlights: • Pre-drying and water recovery technologies were used to conserve energy and water. • The energy and water conservation potential were analyzed with reference cases. • The air-cooling unit produces water when the water content of lignite is high enough. • Influences of main parameters on energy and water conservation were analyzed. - Abstract: Lignite is considered as a competitive energy raw material with high security of supply viewed from a global angle. However, lignite-fired power plants have many shortcomings, including high investment, low energy efficiency and high water use. To address these issues, the drying and water recovery technologies are integrated within lignite-fired power plants. Both air-cooling and wet-cooling units with three kinds of lignite as feeding fuel were analyzed quantitatively. Results showed that energy conservation and water conservation are obtained simultaneously. The power plant firing high moisture lignite becomes more environmental friendly with higher power generation efficiency and a lower water makeup rate than the one firing low moisture lignite. And further calculation revealed that the air-cooling unit needs no makeup water and even produces some water as it generates power, when the water carrying coefficient is higher than 40 g/MJ.

Tenancy and Soil Conservation in Market Equilibrium

OpenAIRE

Lichtenberg, Erik

2001-01-01

A theoretical analysis of equilibrium contracts between risk neutral landlords and tenants when tenants' soil exploitation is non-contractible indicates that landlords will overinvest in conservation structures. An empirical model using farm-level data provides evidence that investment in contractible soil conservation measures is greater on rental land.

Pension funds investments in hedge funds-a necessary regulation

Directory of Open Access Journals (Sweden)

Daniela Gaftoniuc

2010-12-01

Full Text Available When it comes to investment strategies, generally, pension funds have proved to be conservative investors with a long term approach on investments and constant preoccupation for asset diversification as well as tendencies to secure their portfolios through investments in established financial products. Nevertheless, within this constant preoccupation for portfolio diversification as well as gain of notable profits, private pension funds have invested to a certain degree also in less cautious products respectively have conducted less stable investments. The financial turbulences that hit the US towards the end of 2007 and spread globally to become one of the most severe financial crisis witnessed, haven’t left pension funds immune to this phenomenon. Although, as previously stated, the special feature of pension funds is based on long term investments, which confers a certain degree of natural protection, there can not be the talk of absolute immunity either.

Economics and rational conservation policy

International Nuclear Information System (INIS)

Metcalf, G.E.

1994-01-01

Energy analysts have been concerned with the apparently low level of energy-efficient investments and have suggested the presence of various market barriers and failures that hinder investment. The concept of a barrier as defined here is some force that is working against investment in energy-efficient technologies. Market failures, on the other hand, are failures of the competitive paradigm that lead to economically inefficient outcomes. Market barriers require no particular response on the part of government while market failures may call for some policy response. (author)

Review of capital investment in economic growth cycle

Science.gov (United States)

Shaffie, Siti Salihah; Jaaman, Saiful Hafizah; Mohamad, Daud

2016-11-01

The study of linkages of macroeconomics factors is prominent in order to understand how the economic cycle affects one another. These factors include interest rate, growth rate, saving and capital investment which are mutually correlated to stabilize the GDP. Part of this study, it will look upon the impact of investment which emphasize the efficiency of capital investment to the economic growth. Capital investment is one investment appraisal that gives impact to the economic growth. It is a long term investment and involve with large amount of capital to incorporate the development of private and public capital investment.

CURRENT STATUS AND TRENDS INVESTMENT IN AGRICULTURE UKRAINE

OpenAIRE

Sokolova, A. N.; Yurko, Т. S.; Klimenko, I. V.

2018-01-01

Globalization processes accelerate the pace of scientific and technological progress and innovation and require investment in innovation to enhance the efficiency of the national economy of our state and some of its branches, inter–industry complexes and sub–complexes at the level of developed countries.The article examines the current state of investment in agriculture of Ukraine. The main criteria to encourage capital investment taking into account regional peculiarities capital investment ...

Is community-based ecotourism a good use of biodiversity conservation funds?

Science.gov (United States)

Kiss, Agnes

2004-05-01

Community-based ecotourism (CBET) has become a popular tool for biodiversity conservation, based on the principle that biodiversity must pay for itself by generating economic benefits, particularly for local people. There are many examples of projects that produce revenues for local communities and improve local attitudes towards conservation, but the contribution of CBET to conservation and local economic development is limited by factors such as the small areas and few people involved, limited earnings, weak linkages between biodiversity gains and commercial success, and the competitive and specialized nature of the tourism industry. Many CBET projects cited as success stories actually involve little change in existing local land and resource-use practices, provide only a modest supplement to local livelihoods, and remain dependent on external support for long periods, if not indefinitely. Investment in CBET might be justified in cases where such small changes and benefits can yield significant conservation and social benefits, although it must still be recognized as requiring a long term funding commitment. Here, I aim to identify conditions under which CBET is, and is not, likely to be effective, efficient and sustainable compared with alternative approaches for conserving biodiversity. I also highlight the need for better data and more rigorous analysis of both conservation and economic impacts.

Identifying options for regulating the coordination of network investments with investments in distributed electricity generation

International Nuclear Information System (INIS)

Nisten, E.

2010-02-01

The increase in the distributed generation of electricity, with wind turbines and solar panels, necessitates investments in the distribution network. The current tariff regulation in the Dutch electricity industry, with its ex post evaluation of the efficiency of investments and the frontier shift in the x-factor, delays these investments. In the unbundled electricity industry, the investments in the network need to be coordinated with those in the distributed generation of electricity to enable the DSOs to build enough network capacity. The current Dutch regulations do not provide for a sufficient information exchange between the generators and the system operators to coordinate the investments. This paper analyses these two effects of the Dutch regulation, and suggests improvements to the regulation of the network connection and transportation tariffs to allow for sufficient network capacity and coordination between the investments in the network and in the generation of electricity. These improvements include locally differentiated tariffs that increase with an increasing concentration of distributed generators.

Investment Primer for Green Revolving Funds

Science.gov (United States)

Weisbord, Dano

2012-01-01

Developing return-oriented green revolving funds (GRFs) is a rapidly growing trend at colleges and universities. A green revolving fund (GRF) is a special account designated for investment in on-campus projects that improve energy efficiency or decrease material use. GRFs invest in a variety of cost-saving initiatives, resulting in significant…

Theoretical Explanations of Environmental Motivations and Expectations of Clients on Green Building Demand and Investment

International Nuclear Information System (INIS)

Joachim, Onuoha Iheanyichukwu; Kamarudin, Norhaya; Aliagha, Godwin Uche; Ufere, Kalu Joseph

2015-01-01

In building industry, green demand and investment creates a positive footprint on the environment. However, these environmental opportunities have not been adequately harnessed and explored by Clients of green building apparently because of poor understanding of the motivating drivers and benefits accruing from green building demand and investment. The decision to demand for or invest in green building is influenced by certain environmental motivating drivers and expectations which have not been fully examined by researchers and not well understood by stakeholders. Based on the Theory of Planned Behaviour (TPB) and Theory of Value Belief Norm (VBN) explanations, this study focused on the Clients, purchasers and users' motivations and intentions to go for green building. Based on the reviewed theories, we hypothesized that environmental motivations and expectations for green building demand and investment are embedded in the environmental quest for protection of eco-system and bio-diversity, improvement of water and air quality, reduction of solid waste, conservation of natural resources, reduction of societal costs of landfill creation and maintenance, minimization of site impact and reduction emission to air and enhanced energy efficiency. However, the predictive validity of these propositions depends on the client's beliefs, values, social pressure, and perceived behavioural control

Study on Laws, Regulations and Standards on Energy Efficiency, Energy Conserving and Emission Reduction of Industrial Boilers in EU

Science.gov (United States)

Liu, Ren; Zhao, Yuejin; Chen, Haihong; Liang, Xiuying; Yang, Ming

2017-12-01

Industrial boilers are widely applied in such fields as factory power, building heating, and people’s lives; China is the world’s largest producer and user of industrial boilers, with very high annual energy consumption; clear requirements have been put forward by China on the energy efficiency since the “11th Five-year Plan” with the hope to save energy and reduce emission by means of energy efficiency standards and regulations on the supervision and control of various special equipment. So far, the energy efficiency of industrial boilers in China has been improved significantly but there is still a gap with the EU states. This paper analyzes the policies of energy efficiency, implementation models and methods of supervision and implementation at the EU level from laws, regulations, directives as well as standards; the paper also puts forward suggestions of energy conserving and emission reduction on the improvement of energy conserving capacity of industrial boilers in China through studying the legislations and measures of the developed countries in energy conserving of boilers.

FROM EFFICIENT MARKET HYPOTHESIS TO BEHAVIOURAL FINANCE: CAN BEHAVIOURAL FINANCE BE THE NEW DOMINANT MODEL FOR INVESTING?

OpenAIRE

Anastasios KONSTANTINIDIS; Androniki KATARACHIA; George BOROVAS; Maria Eleni VOUTSA

2012-01-01

The present paper reviews two fundamental investing paradigms, which have had a substantial impact on the manner investors tend to develop their own strategies. specifically, the study elaborates on efficient market hypothesis (emh), which, despite remaining most prominent and popular until the 1990s, is considered rather controversial and often disputed, and the theory of behavioural finance, which has increasingly been implemented in financial institutions. based on an extensive survey of b...

R & D STRATEGIC INVESTMENT IN AN ASYMMETRICAL CASE

Institute of Scientific and Technical Information of China (English)

Minggao XUE; Pu GONG

2006-01-01

This article analyzes R & D investment decisions in an asymmetrical case. The investment decisions share three important characteristics. First, the investment is completely irreversible. Second,there are two kinds of uncertainties over the future returns from the investment and over technology in R & D process, respectively. Third, there is strategic competition in the asymmetrical case. This article presents the optimal investment threshold values and the optimal investment rule of high-efficient firm (leader), and shows that the investment threshold values are reduced by competition of two firms.Finally, the mixed investment strategies for two firms, the probability that each firm separately exercises the option to invest, and the probability that two firms simultaneously exercise the option are given in the paper.

The impact of clean energy investments on the Greek economy: An input–output analysis (2010–2020)

International Nuclear Information System (INIS)

Markaki, M.; Belegri-Roboli, A.; Michaelides, P.; Mirasgedis, S.; 3TS S.A., Ag. Isidorou 1, 11471 Athens (Greece))" data-affiliation=" (FACE3TS S.A., Ag. Isidorou 1, 11471 Athens (Greece))" >Lalas, D.P.

2013-01-01

The aim of this paper is twofold: first, to calculate the “green” energy investments, by industrial sector, that Greece would need in order to satisfy a number of energy and environmental targets adopted in the context of the European Commission’s energy and climate change package; and second, to calculate the macro-economic impacts of these “green” investments on production and employment in the Greek economy. To this end, the input–output analysis has been exploited for estimating the direct, indirect and induced macroeconomic effects associated with the implementation of selected energy conservation measures, the promotion of renewable energy technologies, etc. Our findings show that the required investments would reach the amount of €47.9 billion, over the period 2010–2020. These investments will result in an average annual increase of the national product by €9.4 billion, creating simultaneously 108,000 full-time equivalent jobs for the entire period under consideration. The employment generated per €1 million investment is relatively higher in energy saving projects in buildings and transport in comparison with the development of RES in power generation sector. - Highlights: ► Development of clean energy technologies results in net macroeconomic benefits. ► Green investments examined will create yearly an average of 108,000 jobs in Greece. ► Energy efficiency investments are more labor intensive compared to RES projects. ► The imports of the necessary equipment reduce the output and employment effects

Investment in Renewable Energies in Argentina

Directory of Open Access Journals (Sweden)

Marina Recalde

2017-05-01

Full Text Available This article analyzes how the enabling conditions of the energy policy of a developing country such as Argentina, are crucial for the deployment of renewable energy investments. The conclusions highlights that the low institutional quality of the country shapes enabling conditions and reduce effect of the instruments of the energy policy, dropping incentives for investment in renewable technologies in the country. Therefore, in order to promote renewable technologies investments efficiently, the institutional framework of countries must be seriously improved.

Conserving what, where and how? Cost-efficient measures to conserve biodiversity in Denmark

DEFF Research Database (Denmark)

Petersen, Anders Højgård; Strange, Niels; Anthon, Signe

2016-01-01

Biodiversity conservation efforts in Europe have traditionally focused on farmland and open nature areas such as grasslands, heathlands and meadows, while little attention has been devoted to conservation actions in forest. Using detailed information on the geographical distribution of about 900...... terrestrial species in Denmark we apply systematic conservation planning techniques to identify how to protect biodiversity at the lowest cost to society. The results suggest that conservation actions in forest should be given a higher priority. Thus, three to four times the number of forest species...... are protected per million € compared with species living in open land natural areas. Furthermore, a gap analysis finds the current designation of Natura 2000 and other protected areas is skewed toward open land natural areas, and insufficient to meet the conservation targets on forest species....

Efficient color mixing through étendue conservation using freeform optics

Science.gov (United States)

Sorgato, Simone; Mohedano, Rubén.; Chaves, Julio; Cvetkovic, Aleksandra; Hernández, Maikel; Benitez, Pablo; Miñano, Juan C.; Thienpont, Hugo; Duerr, Fabian

2015-08-01

Today's SSL illumination market shows a clear trend to high flux packages with higher efficiency and higher CRI, realized by means of multiple color chips and phosphors. Such light sources require the optics to provide both near- and far-field color mixing. This design problem is particularly challenging for collimated luminaries, since traditional diffusers cannot be employed without enlarging the exit aperture and reducing brightness. Furthermore, diffusers compromise the light output ratio (efficiency) of the lamps to which they are applied. A solution, based on Köhler integration, consisting of a spherical cap comprising spherical microlenses on both its interior and exterior sides was presented in 2012. The diameter of this so-called Shell-Mixer was 3 times that of the chip array footprint. A new version of the Shell-Mixer, based on the Edge Ray Principle and conservation of etendue, where neither the outer shape of the cap nor the surfaces of the lenses are constrained to spheres or 2D Cartesian ovals will be shown in this work. The new shell is freeform, only twice as large as the original chip-array and equals the original model in terms of color uniformity, brightness and efficiency.

Optimal Priority Structure, Capital Structure, and Investment

OpenAIRE

Dirk Hackbarth; David C. Mauer

2012-01-01

We study the interaction between financing and investment decisions in a dynamic model, where the firm has multiple debt issues and equityholders choose the timing of investment. Jointly optimal capital and priority structures can virtually eliminate investment distortions because debt priority serves as a dynamically optimal contract. Examining the relative efficiency of priority rules observed in practice, we develop several predictions about how firms adjust their priority structure in res...

Water conservation quantities vs customer opinion and satisfaction with water efficient appliances in Miami, Florida.

Science.gov (United States)

Lee, Mengshan; Tansel, Berrin

2013-10-15

During 2006-2007, Miami-Dade County, Florida, USA, provided incentives for low income and senior residents in single family homes for retrofitting with high efficiency fixtures. The participating residences were retrofitted with high-efficiency toilets, showerheads, and aerators. In 2012, a telephone survey was conducted to evaluate the satisfaction of the participants and the associated effects on water conservation practices. This study evaluates the attitudes and opinions of the participants relative to water use efficiency measures and the actual reduction in water consumption characteristics of the participating households. The participant characteristics were analyzed to identify correlations between the socio-demographic factors, program satisfaction and actual water savings. Approximately 65.5% of the survey respondents reported changes in their water use habits and 76.6% reported noticeable reduction in their water bills. The analyses showed that the satisfaction levels of the participants were closely correlated with the actual water savings. The results also showed that satisfaction level along with water saving potential (i.e., implementation of water efficiency devices) or change of water use habits has provided positive synergistic effect on actual water savings. The majority of the participants surveyed (81.3-89.1%) reported positive attitudes for water conservation incentive program and the benefits of the high efficiency fixtures. Copyright © 2013 Elsevier Ltd. All rights reserved.

Energy conservation by reducing process variability

Energy Technology Data Exchange (ETDEWEB)

Wising, Ulrika; Lafourcade, Sebastien [Pepite S.A., Liege (Belgium); Mack, Philippe [Pepite Technologies Inc., Montreal (Canada)

2011-12-21

Energy conservation is becoming an increasingly important instrument to stay competitive in today is increasingly global market. Important investments have been made in infrastructure and personnel in order to improve the management of energy such as increased metering, energy dashboards, energy managers, etc. Despite these investments, the results have not materialized and there is still a significant potential to further reduce energy consumption. In this paper a new methodology will be presented that helps industry better operate existing assets in order to reduce energy consumption, without having to make capital investments. The methodology uses a combination of advanced data analysis tools and a specific implementation scheme that has lead to significant savings in industry. The advanced data analysis tools are used to analyze the variability of the process in order to assess when the plant has been operated well or not so well in the past. By finding the root causes of these variations and the key variables that can explain them, improved operating guidelines and models can be developed and implemented. The specific implementation scheme is an important part of the methodology as it involves the people operating the plant. Several user cases will be presented showing an energy conservation of between 10%-20% without capital investments necessary. (author)

Building a Green Economy: Employment Effects of Green Energy Investments for Ontario

OpenAIRE

Robert Pollin; Heidi Garrett-Peltier

2009-01-01

In this study of Ontario’s green economy, Robert Pollin and Heidi Garrett-Peltier present an approach to realistically estimate the employment effects of green investments in Ontario. They focus on two alternative investment scenarios for the province: a baseline program of $18.6 billion invested in conservation and demand management; hydroelectric power; on-shore wind power; bioenergy; waste energy recycling; and solar power over 10 years, and a more ambitious $47.1 billion 10-year investmen...

Conservation priorities for mammals in megadiverse Mexico: the efficiency of reserve networks.

Science.gov (United States)

Ceballos, Gerardo

2007-03-01

A major goal of conservation biologists is to identify critical areas for the conservation of biological diversity and then strategically include them in an efficient system of reserves. In general, however, reserve networks have been selected for different objectives, and most countries lack an evaluation of their reserves' ability to represent a percentage of the national diversity. This paper evaluates the effectiveness of a network of reserves to represent the species of mammals in Mexico. The focus of the analyses is on species and site level, evaluating the representation of all terrestrial mammals in the 30 most important reserves. The representation of all species, endemic species, endangered species, and species with restricted distributions in the reserves was assessed and compared. Endemic or endangered species with restricted distributions were expected to be less represented in reserves than were widespread species. The most important reserves for the conservation of mammals were determined with the use of complementarity analyses. Priority sites for the representation of all the species currently absent from the reserve network were then selected. The results have broad applications for conservation. First, 82% of the mammal species from Mexico were represented in the reserve network, which covers a small portion (3.8%) of the country. Second, this percentage is certainly larger as several reserves were not evaluated due to a lack of data. A priority for a national conservation strategy could be to conduct biological surveys in those reserves lacking inventories to evaluate their contribution to conservation. Third, in spite of its demonstrated value, Mexico's reserve network can be improved by designating complementary areas. Additional priority sites, where reserves are required to represent most gap species in the network, were identified. Finally, it is clear that this reserve network has limitations for maintaining biodiversity and ecosystem

Energy Investment Allowance. Energy List 2000

International Nuclear Information System (INIS)

2000-01-01

The title regulation (EIA, abbreviated in Dutch) offers entrepreneurs in the Netherlands financial incentives to invest in energy efficient capital equipment and renewable energy. Minimal 40% of the investment costs with a maximum of 208 million Dutch guilders can be deducted from fiscal profits. For one or more years less income tax or corporation taxes have to be paid. In this brochure it is outlined what the EIA means and how it can be used. The Energy List contains brief descriptions of examples of different energy efficient options that can be applied to qualify for the EIA

Mistaken identity: activating conservative political identities induces "conservative" financial decisions.

Science.gov (United States)

Morris, Michael W; Carranza, Erica; Fox, Craig R

2008-11-01

Four studies investigated whether activating a social identity can lead group members to choose options that are labeled in words associated with that identity. When political identities were made salient, Republicans (but not Democrats) became more likely to choose the gamble or investment option labeled "conservative." This shift did not occur in a condition in which the same options were unlabeled. Thus, the mechanism underlying the effect appears to be not activated identity-related values prioritizing low risk, but rather activated identity-related language (the group label "conservative"). Indeed, when political identities were salient, Republicans favored options labeled "conservative" regardless of whether the options were low or high risk. Finally, requiring participants to explain the label "conservative" before making their choice did not diminish the effect, which suggests that it does not merely reflect inattention to content or construct accessibility. We discuss the implications of these results for the literatures on identity, priming, choice, politics, and marketing.

U.S. Building-Sector Energy Efficiency Potential

Energy Technology Data Exchange (ETDEWEB)

Brown, Rich; Borgeson, Sam; Koomey, Jon; Biermayer, Peter

2008-09-30

This paper presents an estimate of the potential for energy efficiency improvements in the U.S. building sector by 2030. The analysis uses the Energy Information Administration's AEO 2007 Reference Case as a business-as-usual (BAU) scenario, and applies percentage savings estimates by end use drawn from several prior efficiency potential studies. These prior studies include the U.S. Department of Energy's Scenarios for a Clean Energy Future (CEF) study and a recent study of natural gas savings potential in New York state. For a few end uses for which savings estimates are not readily available, the LBNL study team compiled technical data to estimate savings percentages and costs of conserved energy. The analysis shows that for electricity use in buildings, approximately one-third of the BAU consumption can be saved at a cost of conserved energy of 2.7 cents/kWh (all values in 2007 dollars), while for natural gas approximately the same percentage savings is possible at a cost of between 2.5 and 6.9 $/million Btu. This cost-effective level of savings results in national annual energy bill savings in 2030 of nearly $170 billion. To achieve these savings, the cumulative capital investment needed between 2010 and 2030 is about $440 billion, which translates to a 2-1/2 year simple payback period, or savings over the life of the measures that are nearly 3.5 times larger than the investment required (i.e., a benefit-cost ratio of 3.5).

Assessing the capital efficiency of healthcare information technologies investments: an econometric perspective.

Science.gov (United States)

Meyer, Rodolphe; Degoulet, Patrice

2008-01-01

To examine the different methods that can be used in the quantification of the added value of information technologies (IT) in the health care sector. This quantification represents a major issue for decision-makers and health care professionals when they have to plan an IT investment. Articles were chosen via Medline, internet and the University of Geneva bibliographic portal. Some of the papers were obtained directly from their authors. We examine the most current methods used to evaluate IT return on investment (ROI) in the general business and in the health care sector, drawing attention on methods traditionally used in macroeconomic studies that could reveal themselves disruptive for IT ROI impact evaluation in hospitals. Financial and accounting methods can provide interesting data on a specific IT project but are usually incomplete for revealing the global IT investment influence. Econometric methods tend to demonstrate the positive impact of health care IT (HIT) on hospital production and productivity. Hospitals having higher levels of IT investment tend to deliver a higher level of clinical quality and show improved hospital cost performances. Information technologies are so intermingled with people and processes that the identification of specific IT benefit remains questionable. Using macroeconomic tools could be the best way to analyze and compute IT ROI in health care. Econometric tools take into account all types investments (inputs) and all the returns (outputs) enabling the precise measurement of IT investments impact, breakeven points, and possible threshold levels, thus providing helpful intelligence to reach the higher levels of IT governance in hospitals.

Assessing National Employment Impacts of Investment in Residential and Commercial Sector Energy Efficiency: Review and Example Analysis

Energy Technology Data Exchange (ETDEWEB)

Anderson, David M.; Belzer, David B.; Livingston, Olga V.; Scott, Michael J.

2014-06-18

Pacific Northwest National Laboratory (PNNL) modeled the employment impacts of a major national initiative to accelerate energy efficiency trends at one of two levels: • 15 percent savings by 2030. In this scenario, efficiency activities save about 15 percent of the Annual Energy Outlook (AEO) Reference Case electricity consumption by 2030. It is assumed that additional energy savings in both the residential and commercial sectors begin in 2015 at zero, and then increase in an S-shaped market penetration curve, with the level of savings equal to about 7.0 percent of the AEO 2014 U.S. national residential and commercial electricity consumption saved by 2020, 14.8 percent by 2025, and 15 percent by 2030. • 10 percent savings by 2030. In this scenario, additional savings begin at zero in 2015, increase to 3.8 percent in 2020, 9.8 percent by 2025, and 10 percent of the AEO reference case value by 2030. The analysis of the 15 percent case indicates that by 2030 more than 300,000 new jobs would likely result from such policies, including an annual average of more than 60,000 jobs directly supporting the installation and maintenance of energy efficiency measures and practices. These are new jobs resulting initially from the investment associated with the construction of more energy-efficient new buildings or the retrofit of existing buildings and would be sustained for as long as the investment continues. Based on what is known about the current level of building-sector energy efficiency jobs, this would represent an increase of more than 10 percent from the current estimated level of over 450,000 such jobs. The more significant and longer-lasting effect comes from the redirection of energy bill savings toward the purchase of other goods and services in the general economy, with its attendant influence on increasing the total number of jobs. This example analysis utilized PNNL’s ImSET model, a modeling framework that PNNL has used over the past two decades to assess

Considerations on Optimal Financial Invest ment into Infrastructural Facilities

Institute of Scientific and Technical Information of China (English)

无

2002-01-01

The enlargement of government's investment into infrastructural construction is both a help medicine curing economic contraction and an effective measure to accumulate long-term economic growth.. However, the investment by finance into infrastructure also has a problem of optimization and reasonable selection. In view of market economic requirements, the policy direction of financial investment into infrastructural industries must be doing something at the expense of some other things. In the process of the adjustment and optimization of economic structure, state financial investment into infrastructural facilities has to first of all solve the problem of delimitating the best fields and selecting trades. As to the infrastructure facilities producing and selling pure public products, the development must be made by financial investment;As to the production fields of subpublic products, finance should ensure reasonable investment; As to the infrastructural facilities of pure privite production, finance should completely, in principle, pull out and let market supply. On this basis, selections should be made on best capital soureces and investment ways. The capital sources should be mainly from tax and regulational income and direct investment may be made. As to the production fields of most subpublic production, the best capital sources are national debt income and indirect investment may be made. In addition, the optimization of financial investment into infrastructural facilities must reform the managerial system of infrastructural facilities and raise investment efficiency. Only by scientifically selecting and arranging the financing ways and managerial system in investment fields,can the maximum economic efficiency and social welfare results be realized in carrying out financial investment into infrastructural facilities.

An optimization methodology for identifying robust process integration investments under uncertainty

Energy Technology Data Exchange (ETDEWEB)

Svensson, Elin; Berntsson, Thore [Department of Energy and Environment, Division of Heat and Power Technology, Chalmers University of Technology, SE-412 96 Goeteborg (Sweden); Stroemberg, Ann-Brith [Fraunhofer-Chalmers Research Centre for Industrial Mathematics, Chalmers Science Park, SE-412 88 Gothenburg (Sweden); Patriksson, Michael [Department of Mathematical Sciences, Chalmers University of Technology and Department of Mathematical Sciences, University of Gothenburg, SE-412 96 Goeteborg (Sweden)

2009-02-15

Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

An optimization methodology for identifying robust process integration investments under uncertainty

International Nuclear Information System (INIS)

Svensson, Elin; Berntsson, Thore; Stroemberg, Ann-Brith; Patriksson, Michael

2009-01-01

Uncertainties in future energy prices and policies strongly affect decisions on investments in process integration measures in industry. In this paper, we present a five-step methodology for the identification of robust investment alternatives incorporating explicitly such uncertainties in the optimization model. Methods for optimization under uncertainty (or, stochastic programming) are thus combined with a deep understanding of process integration and process technology in order to achieve a framework for decision-making concerning the investment planning of process integration measures under uncertainty. The proposed methodology enables the optimization of investments in energy efficiency with respect to their net present value or an environmental objective. In particular, as a result of the optimization approach, complex investment alternatives, allowing for combinations of energy efficiency measures, can be analyzed. Uncertainties as well as time-dependent parameters, such as energy prices and policies, are modelled using a scenario-based approach, enabling the identification of robust investment solutions. The methodology is primarily an aid for decision-makers in industry, but it will also provide insight for policy-makers into how uncertainties regarding future price levels and policy instruments affect the decisions on investments in energy efficiency measures. (author)

DETERMINANTS OF FOREIGN DIRECT INVESTMENT DEVELOPMENT

Directory of Open Access Journals (Sweden)

Elena Chirila - Donciu

2013-12-01

Full Text Available FDI had a strong impact in the last three decades on economic growth, foreign trade and production structures in almost all countries. The purpose of this paper is to analyze the main factors that contribute to attracting foreign direct investment flows and also the competitiveness of the business environment in Romania and its implications on investment decisions and economic growth. Research results show that the presence of FDI goes to those areas that can provide efficiencies investment factors: skilled and qualified labor, educational and research institutions etc..

Economic effects of energy efficiency improvements in the Finnish building stock

International Nuclear Information System (INIS)

Tuominen, Pekka; Forsström, Juha; Honkatukia, Juha

2013-01-01

This study estimates the economic effects of investing in energy efficiency in buildings on a national level. First conservation potentials in space heating for two different scenarios with different levels of investment in energy efficiency are quantified. This was done relying on statistical data and future projections of the development of the building stock. Then economic modeling was used to estimate the effects on energy sector and the economy at large. The results show that a rather modest increase resulting in a few percent rise in annual construction and renovation investments can decrease total primary energy consumption 3.8–5.3% by 2020 and 4.7–6.8% by 2050 compared to a baseline scenario. On the short term a slight decrease in the level of GDP and employment is expected. On the medium to long term, however, the effects on both would be positive. Furthermore, a significant drop in harmful emissions and hence external costs is anticipated. Overall, a clear net benefit is expected from improving energy efficiency. - Highlights: ► The possible cut in energy consumption: 3.8–5.3% by 2020 and 4.7–6.8% by 2050. ► Short term negative effects to GDP and long term positive effects are expected. ► A significant drop in harmful emissions and hence external costs is anticipated.

Assessing the shelf life of cost-efficient conservation plans for species at risk across gradients of agricultural land use.

Science.gov (United States)

Robillard, Cassandra M; Kerr, Jeremy T

2017-08-01

High costs of land in agricultural regions warrant spatial prioritization approaches to conservation that explicitly consider land prices to produce protected-area networks that accomplish targets efficiently. However, land-use changes in such regions and delays between plan design and implementation may render optimized plans obsolete before implementation occurs. To measure the shelf life of cost-efficient conservation plans, we simulated a land-acquisition and restoration initiative aimed at conserving species at risk in Canada's farmlands. We accounted for observed changes in land-acquisition costs and in agricultural intensity based on censuses of agriculture taken from 1986 to 2011. For each year of data, we mapped costs and areas of conservation priority designated using Marxan. We compared plans to test for changes through time in the arrangement of high-priority sites and in the total cost of each plan. For acquisition costs, we measured the savings from accounting for prices during site selection. Land-acquisition costs and land-use intensity generally rose over time independent of inflation (24-78%), although rates of change were heterogeneous through space and decreased in some areas. Accounting for spatial variation in land price lowered the cost of conservation plans by 1.73-13.9%, decreased the range of costs by 19-82%, and created unique solutions from which to choose. Despite the rise in plan costs over time, the high conservation priority of particular areas remained consistent. Delaying conservation in these critical areas may compromise what optimized conservation plans can achieve. In the case of Canadian farmland, rapid conservation action is cost-effective, even with moderate levels of uncertainty in how to implement restoration goals. © 2016 Society for Conservation Biology.

Green investment in sustainable housing. SEV recommendation

International Nuclear Information System (INIS)

Fokkema, J.

1996-07-01

In cooperation with the Triodos Bank, SEV carried out a study on the possibility to invest money from green investment funds at low interest in houses which are designed and built in a sustainable and energy efficient way. By order of the Triodos Bank and SEV others drafted a guideline to assess dwellings and calculated the financial and economical consequences of green investments in sustainable housing. The results of those studies formed the basis of the SEV recommendation to the Dutch State Secretary of Housing and Planning and the Dutch State Secretary of Economic Affairs, April 1996, to expand the planned Green Investment Regulation to the possibility to invest money in sustainable houses. It is expected that the Green Investment Regulation will come into effect September 1996. 2 appendices

78 FR 16443 - Energy Efficiency Program for Consumer Products: Energy Conservation Standards for Ceiling Fans...

Science.gov (United States)

2013-03-15

... Standards for Ceiling Fans and Ceiling Fan Light Kits AGENCY: Office of Energy Efficiency and Renewable... consider amending the energy conservation standards for ceiling fans and ceiling fan light kits. DOE also....gov . Follow the instructions for submitting comments. Email: CeilingFan[email protected

Decoupling mechanisms-paying for conservation

Energy Technology Data Exchange (ETDEWEB)

Cross, P.S.

1993-07-15

In 1988, the National Association of Regulatory Utility Commissioners issued a policy statement that said [open quotes]ratemaking practices should align utilities' pursuit of profit with least-cost planning.[close quotes] This policy coincided with then-current thinkingg at a number of state commissions about the much-touted goal of encouraging utilities to invest in conservation, or demand-side management (DSM) programs, rather than in generating resources to meet system load requirements. Besides utility concerns about recovering conservation program investments, regulators also notices a built-in [open quotes]disincentive[close quotes] to investment in the traditional ratemaking format: If profit is tied to sales, then utilities will always shy away from aggressively promoting conservation. Or so the thinkin went. [open quotes]Decoupling mechanisms[close quotes] were born to remove this disincentive. A number of states have implemented these mechanisms, while several others are investigating the issue. One chief drawback of the mechanisms is that if sales go down, rates go up to cover the shortfall. (Of course, rates go down if sales exceed forecasted levels.) A major problem has been that rate increases have occurred at exactly the wrong time, during economic slowdowns when utilities are struggling to retain price-sensitive customers and residential ratepayers are least likely to bear with quiet stoicism the burden placed on family budgets. Decoupling is seen by some as a step backwards in the move to competitive regulatory reforms that seek to encourage utilities to behave like free-market companies. Indeed, the newest decoupling mechanisms face serious challenge.

Investment Portfolios in an Emerging Economy: What Drives Portfolio’s Diversification?

Directory of Open Access Journals (Sweden)

Pedro Luiz Albertin Bono Milan

2017-09-01

Full Text Available This study sheds light on the investment portfolio’s decisions through behavioral insights. The study intends to identify personal characteristics that drive the level of diversification and lead investors to allocate resources in risky assets in an emergent economy, deepening the discussion about investment decisions and bringing some behavioral insights to the debate. The study has a unique and heterogeneous database of individual financial allocations from Brazil, one of the largest emergent economies. The characteristics of Brazilian investors play an important role in investment decisions, high educated and married investors tend to display diversified portfolios. To invest in risky assets, male investors have a 43% greater likelihood of investing in risky assets than females, highlighting the discussion on gender and investment decisions. Moreover, married investors tend to exhibit conservative portfolios. We observed that traditional investors are under-diversified, allocating primarily in traditional and safety assets. The results suggest that the investment decisions can be subject to psychological biases defined in behavioral finance theory.

Food, Fracking, and Freshwater: The Potential for Markets and Cross-Sectoral Investments to Enable Water Conservation

Directory of Open Access Journals (Sweden)

Margaret Cook

2016-01-01

Full Text Available Hydraulic fracturing—the injection of pressurized fluid, often water, to increase recovery of oil or gas—has become increasingly popular in combination with horizontal drilling. Hydraulic fracturing improves production from a well, but requires a significant amount of water to do so and could put pressure on existing water resources, especially in water-stressed areas. To supply water needs, some water rights holders sell or lease their water resources to oil and gas producers in an informal water market. These transactions enable the opportunity for cross-sectoral investments, by which the energy sector either directly or indirectly provides the capital for water efficiency improvements in the agricultural sector as a mechanism to increase water availability for other purposes, including oil and gas production. In this analysis, we employ an original water and cost model to evaluate the water market in Texas and the potential for cross-sectoral collaboration on water efficiency improvements through a case study of the Lower Rio Grande Valley in Texas. We find that, if irrigation efficiency management practices were fully implemented, between 420 and 800 million m3 of water could be spared per year over a ten year period, potentially enabling freshwater use in oil and gas production for up to 26,000 wells, while maintaining agricultural productivity and possibly improving water flows to the ecosystem.

18 CFR 367.105 - Accounts 411.4, and 411.5, Investment tax credit adjustments.

Science.gov (United States)

2010-04-01

....5, Investment tax credit adjustments. 367.105 Section 367.105 Conservation of Power and Water... tax credit adjustments. (a) Account 411.4 (§ 367.4114) must be debited with the amounts of investment tax credits related to service company property that are credited to account 255, Accumulated deferred...

Conservation when landowners have bargaining power

DEFF Research Database (Denmark)

Lennox, Gareth D.; Gaston, Kevin J.; Acs, Szvetlana

2013-01-01

agreement. Implicitly assumed in such studies is therefore that those who ``produce'' biodiversity (landowners) receive none of the surplus available from trade. Instead, landowners could use their bargaining power to gain profits from conservation investments. We employ game theory to determine the surplus...... landowners could obtain in negotiations over conservation agreements, and the consequent effects on conservation outcomes, when enrolment decisions are governed by continuous variables (e.g. the proportion of a property to enrol). In addition, we consider how landowner uncertainty regarding the opportunity...... costs of other landowners affects these outcomes. Landowners' ability to gain surplus is highly variable and reflects variation in the substitutability of different properties for achieving a specified conservation objective. The ability of landowners to obtain profits from conservation agreements...

Retrofit energy conservation in residential buildings in southern California

Science.gov (United States)

Turner, R. H.; Birur, G. C.; Daksla, C.

1982-01-01

The common energy conservation techniques (ECTs) that can be retrofit-installed into residential buildings are surveyed. The quantity of saved energy for heating and cooling attributable to each ECT is evaluated for three common modes of heating: natural gas heating at 60/therm; heating via heat pump at $1.20/therm; and electric resistance heating at $2.40/therm. In every case, a life cycle cost comparison is made between the long term revenue due to energy conservation and a safe and conventional alternative investment that might be available to the prudent homeowner. The comparison between investment in an ECT and the alternative investment is brought into perspective using the life cycle payback period and an economic Figure of Merit (FOM). The FOM allows for relative ranking between candidate ECTs. Because the entire spectrum of winter heating climates in California is surveyed, the decision maker can determine whether or not a considered ECT is recommended in a given climate, and under what conditions an ECT investment becomes attractive.

Reducing greenhouse gas emissions by inducing energy conservation and distributed generation from elimination of electric utility customer charges

International Nuclear Information System (INIS)

Pearce, Joshua M.; Harris, Paul J.

2007-01-01

This paper quantifies the increased greenhouse gas emissions and negative effect on energy conservation (or 'efficiency penalty') due to electric rate structures that employ an unavoidable customer charge. First, the extent of customer charges was determined from a nationwide survey of US electric tariffs. To eliminate the customer charge nationally while maintaining a fixed sum for electric companies for a given amount of electricity, an increase of 7.12% in the residential electrical rate was found to be necessary. If enacted, this increase in the electric rate would result in a 6.4% reduction in overall electricity consumption, conserving 73 billion kW h, eliminating 44.3 million metric tons of carbon dioxide, and saving the entire US residential sector over $8 billion per year. As shown here, these reductions would come from increased avoidable costs, thus leveraging an increased rate of return on investments in energy efficiency, energy conservation behavior, distributed energy generation, and fuel choices. Finally, limitations of this study and analysis are discussed and conclusions are drawn for proposed energy policy changes

Real Silver and Its Investment and Business Options

Directory of Open Access Journals (Sweden)

Novotný Josef

2016-06-01

Full Text Available The article deals with investment and business opportunities offered by silver. Silver is the metal used in industry and for investing at financial markets. The main problem related to this real commodity is the issue of “the undervaluation” of its investment options, if compared to gold. If considering silver as the investment option, its investment potential is significantly enhanced by its industrial usage. The aim of this paper is to highlight business and investment opportunities for both professionals and non professional investors at the commodity markets. The price growth of this investment and industrial metal can generate profits for the investors. And on the other hand, industries which cannot do without silver in their production may efficiently utilize the knowledge of setting up its price at the markets.

Understanding the Impact of Business Cases on IT Investment Decisions

DEFF Research Database (Denmark)

Berghout, Egon; Tan, Chee-Wee

2013-01-01

This study synthesizes the extant literature to derive an integrative developmental framework for IT business cases that can be applied to diagnose the feasibility of technological investments. We then construct a theoretical model that postulates the impact of IT business case elements on the in......This study synthesizes the extant literature to derive an integrative developmental framework for IT business cases that can be applied to diagnose the feasibility of technological investments. We then construct a theoretical model that postulates the impact of IT business case elements...... on the initial cost estimates of technological investments. Subsequently, our theoretical model is subjected to empirical validation through content analysis of IT business cases developed for municipal e-government projects. Findings indicate that the richness of the richness of business cases translates...... to more initial costs being identified in technological investments, thereby conserving resources for the organization through informed investment decisions....

On attracting investment to Russian economy

Directory of Open Access Journals (Sweden)

Oleinik Elena

2017-01-01

Full Text Available Modern conditions of economic systems development have necessitated more precise directions of investment process for the economic growth to accelerate. The precipitous fall of oil prices that occurred in the second half of 2014 weighed heavily on foreign direct investment flows to oilexporting countries. The problem of attracting investment is one of the key problems of economic development. The aim of this study is to analyze and evaluate the shifts in the structure of investments, the study of the structure of investments to the Russian economy. Structural changes result from differences in the growth rate of the elements forming an economic system. An integral coefficient has been used for evaluation of structural changes. Multiple regression was used to analyze the impact of various factors on the change in structure of investment. The regression coefficients in the model give quantitative assessment of the pace of change in the structure as it depends on a specific factor. The model estimation shows that the variables “share of investments in manufacturing” (positive influence and “share of investments in the health, physical culture, education” (negative influence have the largest t-values. Hence, these two factors influence the structural changes in investments most strongly The evaluation and analysis of the structural shifts may lead to conclusions regarding the efficiency of the structure investment and adjustment of the economic policy.

Enhancing Productivity and Resource Conservation by Eliminating Inefficiency of Thai Rice Farmers: A Zero Inefficiency Stochastic Frontier Approach

Directory of Open Access Journals (Sweden)

Jianxu Liu

2017-05-01

Full Text Available The study first identified fully efficient farmers and then estimated technical efficiency of inefficient farmers, identifying their determinants by applying a Zero Inefficiency Stochastic Frontier Model (ZISFM on a sample of 300 rice farmers from central-northern Thailand. Next, the study developed scenarios of potential production increase and resource conservation if technical inefficiency was eliminated. Results revealed that 13% of the sampled farmers were fully efficient, thereby justifying the use of our approach. The estimated mean technical efficiency was 91%, implying that rice production can be increased by 9%, by reallocating resources. Land and labor were the major productivity drivers. Education significantly improved technical efficiency. Farmers who transplanted seedlings were relatively technically efficient as compared to those who practised manual and/or mechanical direct seeding methods. Elimination of technical inefficiency could increase output by 8.64% per ha, or generate 5.7–6.4 million tons of additional rice output for Thailand each year. Similarly, elimination of technical inefficiency would potentially conserve 19.44% person-days of labor, 11.95% land area, 11.46% material inputs and 8.67% mechanical power services for every ton of rice produced. This translates into conservation of 2.9–3.0 million person-days of labor, 3.7–4.5 thousand km2 of land, 10.0–14.5 billion baht of material input and 7.6–12.8 billion baht of mechanical power costs to produce current level of rice output in Thailand each year. Policy implications include investment into educating farmers, and improving technical knowledge of seeding technology, to boost rice production and conserve scarce resources in Thailand.

The Investments in Renewable Energy Sources: Do Low Carbon Economies Better Invest in Green Technologies?

Directory of Open Access Journals (Sweden)

Antonio Angelo Romano

2011-01-01

Full Text Available The aim of this study is to analyse the driving of investment in renewable energy sources in low carbon and high carbon economies. To address these issues, a dynamic panel analysis of the renewable investment in a sample of 29 countries was proposed. Results demonstrate that the dynamic of investments in renewable sources is similar in the two panels, and depends by nuclear power generation, GDP and technological efficiency. Results show that countries try to reduce their environmental footprint, decreasing the CO2 intensity. Based on the estimation results, we think that energy sustainability passes through the use of renewable resources that can complement the nuclear technology on condition that both exceed their limits.

Energy conservation in the dairy cattle farming. Production of milk - vacuum supply, cooling, purification; Energieeinsparung in der Milchviehhaltung. Milchgewinnung - Vakuumsversorgung, Kuehlung, Reinigung

Energy Technology Data Exchange (ETDEWEB)

Bonkoss, K.; Neiber, J.; Neser, S.

2012-09-15

The major approaches of dairy cattle processing companies in the energy conservation are the milk extraction and milk cooling. The energy consumption can be significantly reduced by means of energy efficient plants such as frequency controlled vacuum pumps, preliminary cooling and heat recovery. Not only the consumption of electricity but also the consumption of water, the functional reality as well as the process quality should be considered. In the case of a new investment or replacement investment in energy saving plants, all influencing factors such as the present technology, the development of the company as well as the actual or planned energy supply of the company are to be considered.

Reductions in global biodiversity loss predicted from conservation spending

Science.gov (United States)

Waldron, Anthony; Miller, Daniel C.; Redding, Dave; Mooers, Arne; Kuhn, Tyler S.; Nibbelink, Nate; Roberts, J. Timmons; Tobias, Joseph A.; Gittleman, John L.

2017-11-01

Halting global biodiversity loss is central to the Convention on Biological Diversity and United Nations Sustainable Development Goals, but success to date has been very limited. A critical determinant of success in achieving these goals is the financing that is committed to maintaining biodiversity; however, financing decisions are hindered by considerable uncertainty over the likely impact of any conservation investment. For greater effectiveness, we need an evidence-based model that shows how conservation spending quantitatively reduces the rate of biodiversity loss. Here we demonstrate such a model, and empirically quantify how conservation investment between 1996 and 2008 reduced biodiversity loss in 109 countries (signatories to the Convention on Biological Diversity and Sustainable Development Goals), by a median average of 29% per country. We also show that biodiversity changes in signatory countries can be predicted with high accuracy, using a dual model that balances the effects of conservation investment against those of economic, agricultural and population growth (human development pressures). Decision-makers can use this model to forecast the improvement that any proposed biodiversity budget would achieve under various scenarios of human development pressure, and then compare these forecasts to any chosen policy target. We find that the impact of spending decreases as human development pressures grow, which implies that funding may need to increase over time. The model offers a flexible tool for balancing the Sustainable Development Goals of human development and maintaining biodiversity, by predicting the dynamic changes in conservation finance that will be needed as human development proceeds.

Reductions in global biodiversity loss predicted from conservation spending.

Science.gov (United States)

Waldron, Anthony; Miller, Daniel C; Redding, Dave; Mooers, Arne; Kuhn, Tyler S; Nibbelink, Nate; Roberts, J Timmons; Tobias, Joseph A; Gittleman, John L

2017-11-16

Halting global biodiversity loss is central to the Convention on Biological Diversity and United Nations Sustainable Development Goals, but success to date has been very limited. A critical determinant of success in achieving these goals is the financing that is committed to maintaining biodiversity; however, financing decisions are hindered by considerable uncertainty over the likely impact of any conservation investment. For greater effectiveness, we need an evidence-based model that shows how conservation spending quantitatively reduces the rate of biodiversity loss. Here we demonstrate such a model, and empirically quantify how conservation investment reduced biodiversity loss in 109 countries (signatories to the Convention on Biological Diversity and Sustainable Development Goals), by a median average of 29% per country between 1996 and 2008. We also show that biodiversity changes in signatory countries can be predicted with high accuracy, using a dual model that balances the effects of conservation investment against those of economic, agricultural and population growth (human development pressures). Decision-makers can use this model to forecast the improvement that any proposed biodiversity budget would achieve under various scenarios of human development pressure, and then compare these forecasts to any chosen policy target. We find that the impact of spending decreases as human development pressures grow, which implies that funding may need to increase over time. The model offers a flexible tool for balancing the Sustainable Development Goals of human development and maintaining biodiversity, by predicting the dynamic changes in conservation finance that will be needed as human development proceeds.

The social return on investment in the energy efficiency of buildings in Germany

International Nuclear Information System (INIS)

Kuckshinrichs, Wilhelm; Kronenberg, Tobias; Hansen, Patrick

2010-01-01

The German government has developed a variety of policy instruments intended to reduce national CO 2 emissions. These instruments include a programme administered by KfW bank, which aims at improving the energy efficiency of buildings. It provides attractive credit conditions or subsidies to finance refurbishment measures which improve the energy efficiency of buildings significantly. The refurbishment programme leads to a reduction in energy use, which benefits private investors by reducing their energy bills. In order to estimate whether the programme benefits society as a whole, additional effects must be taken into account, such as the amount of employment generated and the impact on the public budget. The aim of this paper is to evaluate the social benefits of the German CO 2 refurbishment programme for the years 2005-2007. An extended input-output model is used to estimate the effect of the refurbishment works on public revenue via taxes and social security contributions. The value of avoided CO 2 emissions is approximated using a range of marginal damage estimates from the literature. From these social benefits, the programme cost is deducted. The net social benefit thus computed turns out to be positive. This finding suggests that the refurbishment programme is a reasonable investment of public funds.

Korean Investment in EU through Holding Companies: A Case Study

Directory of Open Access Journals (Sweden)

Seong-Bong Lee

1998-09-01

Full Text Available When transnational enterprises set subsidiary companies in certain area, their major aim is to invest indirectly through the holding companies which hold invested share. Especially, because of the geographical neighborhood and economic integration, investing by holding companies is common in Europe. In Europe, taking full advantage of holding company is out of the following two reasons. Firstly, the efficiency and flexibility of the manage strategy of a group could be elevated by making full use of the holding company. Secondly, the transnational enterprises have the possibility of flexible management at the tax strategy level. Recently, the Korean companies are making the best use of holding companies when they are Marching into the EU. In the year 1996, group K purchased 8 enterprises of a certain industry section of B, a German company, setting holding companies in Germany. The analysis result of the case shows that the manage efficiency could be risen and the taxation could be reduced by way of making use of holding companies. As to the Korean investment efficiency of overseas indirect investment in EU, this thesis brought forward a blueprint about integrating the local companies.

Options for Low Income Countries Effective and Efficient Use of Tax Incentives for Investment : A Report to the G-20 Development Working Group by the IMF, OECD, UN and World Bank

OpenAIRE

International Monetary Fund; OECD; United Nations; World Bank

2015-01-01

Experience shows that there is often ample room for more effective and efficient use of investment tax incentives in low-income countries. Tax incentives generally rank low in investment climate surveys in low-income countries, and there are many examples in which they are reported to be redundant, that is, investment will have been undertaken even without them. And their fiscal cost can b...

Financial Energy Conservation Projects at Independent Colleges and Universities.

Science.gov (United States)

Morrell, L. R.

1981-01-01

Factors affecting financial decisions for energy conservation projects at independent colleges and universities and methods that may be used when making a financial investment decision are examined, along with sources of funding for the projects. Projects that result in the conservation of energy resources might, in a time of extreme shortages,…

Evaluation of Performance of Investment Funds Based on Decision Models (DEA

Directory of Open Access Journals (Sweden)

Alireza Samet

2016-12-01

Full Text Available Selection of a suitable investment funds is very important from investors' point of view and may have a significant impact on the profit or loss of the funds. Therefore, evaluation of performance of investment funds to choose the most suitable fund will be given special emphasis. One of the new techniques for evaluating the performance of the Funds based on efficiency is the Data Envelopment Analysis technique. Accordingly, the present study is aimed to analyze and evaluate the performance of investment Funds in capital market of Iran, using the technique of efficiency evaluation through data envelopment analysis technique (DEA. This research is a descriptive - applicable study and to analyze the efficiency and effectiveness, 53 investment funds in the capital market of Iran in 2013 were considered as the sample. To analyze the efficiency of these funds, data envelopment analysis (DEA is used. Research findings showed that in 2013, of a total of 53 examined funds, 11 funds were in the efficiency situation and the other 42 funds were in a state of inefficiency. Also the reference funds and virtual composited funds of all inefficient funds were evaluated.

Evaluation of learning moments, investment cost and life cost of five EOS DEMO/UKR projects; Evaluatie leermomenten, investerings- en levensduurkosten van vijf EOS DEMO/UKR projecten

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-03-15

Subsidised, energy efficient building example projects in the Netherlands show that the additional cost of 10 to 15% for the initial investment are compensated by the much lower energy cost later on. A study has been conducted of the relation between investments, housing expenses and energy efficient building [Dutch] Gesubsidieerde, energiezuinig gebouwde voorbeeldprojecten in Nederland tonen aan dat de meerkosten van 10% tot 15% voor de initiele investering opwegen tegen de veel lagere energiekosten later. Een studie is uitgevoerd naar de relatie tussen investeringen, woonlasten en energiezuinig bouwen.

Financial sector reforms and investment efficiency in South Africa ...

African Journals Online (AJOL)

The effect of financial liberalization on investment in sub-Saharan Africa countries has drawn much attention in the recent literature. The major thrust of the literature has been to understand the mechanism by which interest rate deregulation on one hand and elimination of other forms of financial repression on the other ...

Study On The Multi-Project Management Practices for Complex Investments

Directory of Open Access Journals (Sweden)

Mircea Sandru

2015-11-01

Full Text Available This paper highlights the results of a study carried out during the doctoral research in case of multi project Engineering, Procurement, Construction, Commissioning (EPCC investment types. The objective of this study was to improve the project portfolio management. The methodology used in the research presented in this paper is focused on the analysis of the authors related to the approaches debated in literature and theirs applicability in EPCC type investment programs. In this sense were analyzed 11 international projects in petrochemical and refinery field and also 7 investments in other different areas of chemical industry. The research highlighted that the management process of these investments can be improved trough the correct project integration, being able to provide a performing working environment able to sustain the management team in identifying the investment program criticalities and congestion points in order to be able to manage them in an efficient manner in order to assure the reach of the investment goal. Having as consequence the possibility to significant reduction of execution period, up to 16% and in the mean time also the delays related risks through a more efficient investment managerial act.

Polyketones and polysulfones for conservation in the ethylene polymer market

International Nuclear Information System (INIS)

Steinberg, M.

1977-01-01

The polyketones and polysulfones formed from the gas phase below 100 0 C have been found to be high molecular weight polymers which, depending on composition, either melt with difficulty, or decompose at temperatures of 250 0 C or higher. The higher temperature (> 100 0 C) catalyst induced reaction produces low molecular weight waxes. Design calculations indicate that for a G value of 10,000 and 50% energy deposition efficiency, it would take 331 megacuries of Co 60 to conserve 2 billion pounds of ethylene or 25% of the overall US consumption in the PE market by substituting CO and SO 2 . This saving amounts to as much as 280 million dollars at today's market price. Electron machine radiation with a 25% energy deposition efficiency requires a total beam power of 9800 KW. The use of machine radiation is preferred because of safety, availability, and lower initial investment. (author)

The financial management as a tool for development investment decision

Directory of Open Access Journals (Sweden)

Damnjanović Radovan M.

2017-01-01

Full Text Available Investment decisions, which influence the investment of financial resources to achieve economic, non-economic, or of both objectives and effects in the future, the central subject of financial management. Using the methods of financial mathematics can predict the effects of the investment which is from the standpoint of efficiency ratings are expressed in the form of cash future income. Periods, the investments and the use of investment, may be the same or different lengths. From an economic standpoint it is desirable that the period of the investment is short, and the economic effects of the eyelids investments as long as possible. For an investment is said to be cost-effective or cost-effective if the current value of the investment is less than the present value of income from investments.

THE PROFITABILITY – AN ATTRIBUTE OF FINANCIAL AND ACCOUNTING NATURE IN THE DECISION TO INVEST

Directory of Open Access Journals (Sweden)

Mihaela TULVINSCHI

2014-06-01

Full Text Available The investments represent the primary factor in the development strategy of an economic entity. The role of the investments begins with their purpose, meaning that the investments involve the increasing of a stock portfolio. The research methodology that is approached in this article is based on the analysis of two factors: net present value and internal rate of profitability. Capital budgeting in an investment project that, without a prior analysis of the efficiency of such a decision, can lead to the total or partial loss of the invested capital. An investment project is efficient if the net present value is positive and has a larger value. An investment project becomes more profitable as the value of the internal rate of profitability gets higher. If the two factors are correctly interpreted they lead to exactly the same conclusions regarding the determination of an investment profitability. We can conclude that the two efficiency factors are complementary, their simultaneous use leading to a better grounding of the investment decision than their separate use.

The Investment Attractiveness of Online Stores as Components of E-Commerce

Directory of Open Access Journals (Sweden)

Drozdova Olena G.

2017-04-01

Full Text Available Defining the economic efficiency of e-commerce as well as online stores as its constituent stipulates an overall performance evaluation, marketing and investment efficiency (investment attractiveness, and hence the possibility for potential investors to invest their money. The article considers the status and development of e-commerce in Ukraine, evaluating the overall dynamics of e-business. Impact factors and prospects for investments have been identified. The e-trade indicators have been systematized to allow for an integrated approach to information provision in the accounting and economic analysis of enterprise, determining an integral indicator of economic, informational, identification, and emotional functions based on the value coefficients of the respective functions.

Effect of risk aversion on prioritizing conservation projects.

Science.gov (United States)

Tulloch, Ayesha I T; Maloney, Richard F; Joseph, Liana N; Bennett, Joseph R; Di Fonzo, Martina M I; Probert, William J M; O'Connor, Shaun M; Densem, Jodie P; Possingham, Hugh P

2015-04-01

Conservation outcomes are uncertain. Agencies making decisions about what threat mitigation actions to take to save which species frequently face the dilemma of whether to invest in actions with high probability of success and guaranteed benefits or to choose projects with a greater risk of failure that might provide higher benefits if they succeed. The answer to this dilemma lies in the decision maker's aversion to risk--their unwillingness to accept uncertain outcomes. Little guidance exists on how risk preferences affect conservation investment priorities. Using a prioritization approach based on cost effectiveness, we compared 2 approaches: a conservative probability threshold approach that excludes investment in projects with a risk of management failure greater than a fixed level, and a variance-discounting heuristic used in economics that explicitly accounts for risk tolerance and the probabilities of management success and failure. We applied both approaches to prioritizing projects for 700 of New Zealand's threatened species across 8303 management actions. Both decision makers' risk tolerance and our choice of approach to dealing with risk preferences drove the prioritization solution (i.e., the species selected for management). Use of a probability threshold minimized uncertainty, but more expensive projects were selected than with variance discounting, which maximized expected benefits by selecting the management of species with higher extinction risk and higher conservation value. Explicitly incorporating risk preferences within the decision making process reduced the number of species expected to be safe from extinction because lower risk tolerance resulted in more species being excluded from management, but the approach allowed decision makers to choose a level of acceptable risk that fit with their ability to accommodate failure. We argue for transparency in risk tolerance and recommend that decision makers accept risk in an adaptive management

Determinants of farmers’ perception to invest in soil and water conservation technologies in the North-Western Highlands of Ethiopia

Directory of Open Access Journals (Sweden)

Desalew Meseret Moges

2017-03-01

Full Text Available Soil erosion by water is a severe and continuous ecological problem in the north-western Highlands of Ethiopia. Limited perception of farmers to practice soil and water conservation (SWC technologies is one of the major causes that have resulted accelerated soil erosion. Therefore, this paper examines the major determinants of farmers’ perception to use and invest in SWC technologies in Ankasha District, north-western highlands of Ethiopia. A detailed field survey was carried out among 338 households, randomly selected from two rural sample kebeles (called villages here after. Descriptive statistics and logistic regression model were used to analyse the effects of multiple variables on farmers’ perception. The results indicate that educational level of the respondents and their access to trainings were found to have a positive and very significant association (P<0.01 with farmers’ perception. Likewise, land ownership, plot size, slope type, and extension contact positively and significantly influenced farmers’ perception at 5% level of significance. On the other hand, the influence of respondents’ age and plot distance from the homestead was found to be negative and significant (P<0.05. The overall results of this study indicate that the perception of farmers to invest in SWC technologies was highly determined by socioeconomic, institutional, attitudinal and biophysical factors. Thus, a better understanding of constrains that influence farmers' perception is very important while designing and implementing SWC technologies. Frequent contacts between farmers and extension agents and continues agricultural trainings are also needed to increase awareness of the impacts of SWC benefits.

Influences of economic development in the Brazilian energy efficiency projects

Directory of Open Access Journals (Sweden)

Javier Cárcel Carrasco

2012-09-01

Full Text Available This work has as main goal to present some of the issues regarding the effects of the Brazilian economy in the effectiveness of national energy efficiency projects in order to provide some guidelines for optimizing the energy saving actions. The replacement of traditional electric motors with high efficiency motors has been considered, or that brings innovation and increases the need to search for new technologies for Brazilian industries. We must consider whether this new paradigm requires a strong federal government's investment in Brazil in order to allow the implementation of energy efficiency programs, mainly in small and medium industries. This document is divided into three main parts. The first part deals with some aspects of the economic crisis. The second presents the most important data of the National Electricity Conservation (PROCEL and Energy Efficiency Program of the ANEEL (National Electric Energy Agency. The third shows data on Small and Medium Industries and how their energy efficiency programs were affected.

Japan's energy conservation policy

International Nuclear Information System (INIS)

Yoda, Kenichi

1990-01-01

This article reviews developments in Japanese energy conservation since the 1970s. The industrial sector has achieved the greatest success, due to industrial restructuring as well as improvements in energy efficiency. In the residential/commercial sector, the efficiency of appliances has been much improved. Although improvements have been made in the fuel efficiency of passenger cars, energy consumption in the transportation sector has risen slightly owing to increased transport of passengers and freight. The overall responsibility for energy conservation policy rests with the Ministry of International Trade and Industry. MITI is also responsible for implementing specific conservation policies in regard to the industrial and commercial sectors. In the residential sector, MITI works with the Ministry of Construction and in the transportation sector with the Ministry of Transport. To realize the goals of energy conservation policy through general research, dissemination of public information and other activities, MITI works with the Energy Conservation Center (ECC). (author). 2 figs, 3 tabs

Factor investing based on Musharakah principle

Science.gov (United States)

Simon, Shahril; Omar, Mohd; Lazam, Norazliani Md; Amin, Mohd Nazrul Mohd

2015-10-01

Shariah stock investing has become a widely discussed topic in financial industry as part of today's investment strategy. The strategy primarily applies market capitalization allocations. However, some researchers have argued that market capitalization weighting is inherently flawed and have advocated replacing market capitalization allocations with factor allocations. In this paper, we discuss the rationale for factor investing based on Musharakah principle. The essential elements or factors of Musharakah principle such as business sector, management capability, profitability growth and capital efficiency are embedded in the Shariah-compliant stock. We then transform these factors into indexation for better analysis and performance measurement. Investment universe for this research covers Malaysian stocks for the period of January 2009 to December 2013. We found out that these factor indexes have historically earned excess returns over market capitalization weighted indexes and experienced higher Sharpe Ratios.

A local initiative for energy efficiency improvements in motor driven systems in public and private companies - case studies

Energy Technology Data Exchange (ETDEWEB)

Tamm, G. [Behoerde fuer Stadtentwicklung und Umwelt, Hamburg (Germany)

2005-07-01

In the free and hanseatic town Hamburg reduction potentials in public buildings are developed systematically in the context of the energy management by standardised efficiency programs. The City has had special means ready for financing energy saving measures for many years, because the investments amortize themselves by the operation cost reduction. Examples of efficient electrical motor systems in public buildings: ventilation facilities and air conditioning, heating pumps energy saving program. The city of Hamburg also offers a promotional program ''enterprises for resource protection'' for private investors from the Hamburg economy. With this program voluntary investment measures are initiated in private enterprises by financial subsidies to conserving resources. Examples of efficient electrical motor driven systems in enterprises: mill: speed controlled exhauster drives, spice mill: speed controlled mill drives, printer: efficient ventilation techniques at a paper exhaust system, wastewater treatment: adjustable fans for pressure aerators, hazardous waste incineration plant: optimisation of the SO{sub 2}-gas scrubbing system by mass flow controlled pumps. With these programs efforts to climate protection can be realised more economically. (orig.)

Closing the Gap GEF Experiences in Global Energy Efficiency

CERN Document Server

Yang, Ming

2013-01-01

Energy efficiency plays and will continue to play an important role in the world to save energy and mitigate greenhouse gas (GHG) emissions. However, little is known on how much additional capital should be invested to ensure using energy efficiently as it should be, and very little is known which sub-areas, technologies, and countries shall achieve maximum greenhouse gas emissions mitigation per dollar of investment in energy efficiency worldwide. Analyzing completed and slowly moving energy efficiency projects by the Global Environment Facility during 1991-2010, Closing the Gap: GEF Experiences in Global Energy Efficiency evaluates impacts of multi-billion-dollar investments in the world energy efficiency. It covers the following areas: 1.       Reviewing the world energy efficiency investment and disclosing the global energy efficiency gap and market barriers that cause the gap; 2.       Leveraging private funds with public funds and other resources in energy efficiency investments; using...

Designing regulatory frameworks for merchant transmission investments by real options analysis

International Nuclear Information System (INIS)

Pringles, Rolando; Olsina, Fernando; Garcés, Francisco

2014-01-01

In deregulated electricity markets, the transmission network is a key infrastructure for enabling competition in the generation sector. A deficient expansion of the transmission grid prevents the realization of the benefits in terms of efficiency associated with market mechanisms. Consequently, it is essential to provide clear investment policies and economic signals to attract timely and efficient transmission investments in order to develop the system at minimum cost meeting the requirements of generators and consumers, while keeping adequate levels of service quality and reliability. This paper proposes a modern tool of economic evaluation based on real options analysis that provides the regulator the ability to assess various incentives that would lead transmission investors to make efficient decisions in highly uncertain environments. Real options properly values partially irreversible investment decisions, such as to defer, modify or abandon an investment project in response to the arrival of new information or as uncertainties are resolved. Decisions are evaluated from the point of view of a transmission investor trying to maximize its own profits in the time period set to recover the capital invested. The results allow the study of the behavior of transmission investors regarding their decision making when they have the possibility to manage the option to defer, under different regulatory schemes that encourage the expansion of the transmission system. - Highlights: • Regulatory frameworks for efficient and timely transmission expansions are designed. • Irreversibility and uncertainty of transmission investment is properly accounted for. • Response of network investors to regulatory incentives is quantitatively established

Energy conservation in ice manufacturing; Ahorro de energia en la fabricacion de hielo

Energy Technology Data Exchange (ETDEWEB)

NONE

1994-12-31

This paper shows the results of the energy diagnosis study for ice manufacturing industries. The identified opportunities for conservation and efficient use of energy have allowed the reduction of the electric bill, modernizing at the same time, its installations and addressing inherent aspects of the use of energy producing items; in which the estimated investments are recovered in its major part in a period of a year, the goodness of the investments propitiate the growth and competitiveness required in these days. [Espanol] En este documento se exponen los resultados del estudio del diagnostico energetico para industrias productoras de hielo. Las oportunidades de ahorro y uso eficiente de energia identificadas, han permitido reducir la facturacion energetica, a la par de modernizar sus instalaciones y atender aspectos inherentes al uso de energeticos; en lo cual las inversiones estimadas se recuperan en su mayoria en un ano, las bondades de las inversiones propician un crecimiento y competitividad requerida en estos dias.

Energy conservation in ice manufacturing; Ahorro de energia en la fabricacion de hielo

Energy Technology Data Exchange (ETDEWEB)

NONE

1993-12-31

This paper shows the results of the energy diagnosis study for ice manufacturing industries. The identified opportunities for conservation and efficient use of energy have allowed the reduction of the electric bill, modernizing at the same time, its installations and addressing inherent aspects of the use of energy producing items; in which the estimated investments are recovered in its major part in a period of a year, the goodness of the investments propitiate the growth and competitiveness required in these days. [Espanol] En este documento se exponen los resultados del estudio del diagnostico energetico para industrias productoras de hielo. Las oportunidades de ahorro y uso eficiente de energia identificadas, han permitido reducir la facturacion energetica, a la par de modernizar sus instalaciones y atender aspectos inherentes al uso de energeticos; en lo cual las inversiones estimadas se recuperan en su mayoria en un ano, las bondades de las inversiones propician un crecimiento y competitividad requerida en estos dias.

Influence of elements of “technological revolution” on efficiency of the investment and construction sphere

Directory of Open Access Journals (Sweden)

Murashova Olga

2017-01-01

Full Text Available The article describes a new view on the investment and construction area taking into consideration the influence of information technologies and innovations. The author has pointed out the basic aspects, which could allow making a break-through in management effectiveness, if being implemented in companies’ business or in investment and construction projects. The article presents the definition of the investment and construction cycle as an integrator of innovation solutions. The paper contains the conclusion about the obvious sector development using active implementation of information modeling of the investment and construction project facilities.

Making optimal investment decisions for energy service companies under uncertainty: A case study

International Nuclear Information System (INIS)

Deng, Qianli; Jiang, Xianglin; Zhang, Limao; Cui, Qingbin

2015-01-01

Varied initial energy efficiency investments would result in different annual energy savings achievements. In order to balance the savings revenue and the potential capital loss through EPC (Energy Performance Contracting), a cost-effective investment decision is needed when selecting energy efficiency technologies. In this research, an approach is developed for the ESCO (Energy Service Company) to evaluate the potential energy savings profit, and thus make the optimal investment decisions. The energy savings revenue under uncertainties, which are derived from energy efficiency performance variation and energy price fluctuation, are first modeled as stochastic processes. Then, the derived energy savings profit is shared by the owner and the ESCO according to the contract specification. A simulation-based model is thus built to maximize the owner's profit, and at the same time, satisfy the ESCO's expected rate of return. In order to demonstrate the applicability of the proposed approach, the University of Maryland campus case is also presented. The proposed method could not only help the ESCO determine the optimal energy efficiency investments, but also assist the owner's decision in the bidding selection. - Highlights: • An optimization model is built for determining energy efficiency investment for ESCO. • Evolution of the energy savings revenue is modeled as a stochastic process. • Simulation is adopted to calculate investment balancing the owner and the ESCO's profit. • A campus case is presented to demonstrate applicability of the proposed approach

Bainbridge Energy Challenge. Energy efficiency and conservation block grant (EECBG) - Better buildings neighborhood program. Final Technical Report

Energy Technology Data Exchange (ETDEWEB)

Kraus, Yvonne X.

2014-02-14

RePower Bainbridge and Bremerton (RePower) is a residential energy-efficiency and conservation program designed to foster a sustainable, clean, and renewable energy economy. The program was a 3.5 year effort in the cities of Bainbridge Island and Bremerton, Washington, to conserve and reduce energy use, establish a trained home performance trade ally network, and create local jobs. RePower was funded through a $4.8 million grant from the US Department of Energy, Better Buildings Program. The grant’s performance period was August 1, 2010 through March 30, 2014.

Factoring attitudes towards armed conflict risk into selection of protected areas for conservation.

Science.gov (United States)

Hammill, E; Tulloch, A I T; Possingham, H P; Strange, N; Wilson, K A

2016-03-30

The high incidence of armed conflicts in biodiverse regions poses significant challenges in achieving international conservation targets. Because attitudes towards risk vary, we assessed different strategies for protected area planning that reflected alternative attitudes towards the risk of armed conflicts. We find that ignoring conflict risk will deliver the lowest return on investment. Opting to completely avoid conflict-prone areas offers limited improvements and could lead to species receiving no protection. Accounting for conflict by protecting additional areas to offset the impacts of armed conflicts would not only increase the return on investment (an effect that is enhanced when high-risk areas are excluded) but also increase upfront conservation costs. Our results also demonstrate that fine-scale estimations of conflict risk could enhance the cost-effectiveness of investments. We conclude that achieving biodiversity targets in volatile regions will require greater initial investment and benefit from fine-resolution estimates of conflict risk.

Improvement of methods of evaluation of investment projects in the context of import substitution

Directory of Open Access Journals (Sweden)

Kuvshinov M.S.

2017-01-01

Full Text Available Due to the imposition of sanctions, based more on geopolitical interests, there were additional essential restrictions on sources of external credits, use of import raw materials and technologies, possibilities of attraction to work of the qualified employees which do not have the Russian nationality, participation in the international technology and scientific projects. At similar restrictions of different resources investment decisions are made extremely carefully, and especially careful and reasonable efficiency evaluation of the investments is required. Traditionally used techniques of efficiency evaluation of investment projects not fully consider strategic interests of owners of industrial enterprises and investors. Decrease in risks requires higher quality of project evaluation. In this work the method of multi-level consistently complex integral assessment of investment projects on an indicator of the integral indicator of their efficiency implementing consecutive selection of investment projects from a portfolio on essential indicators of commercial effectiveness, efficiency of production business activities, a financial state and productivity of activity is provided. The developed method of a complex assessment of investment projects is implemented for practical application by the software product allowing to create on the basis of economic-mathematical modeling specific recommendations in economic practice of industrial enterprises during the developing and implementation of investment strategies. The conclusion that for the Russian economy in the conditions of import substitution accounting of all set of interests of investors and owners of the enterprises provides development and implementation of reasonable investment strategies is drawn.

India's economic growth and energy consumption: scope for efficiency and conservation

International Nuclear Information System (INIS)

Yadav, S.S.

2000-01-01

Like all developing countries in general, India has very low per capita consumption of energy. But the consumption pattern per unit of economic output is high. There is a need to make efforts and evolve mechanism so that energy consumption growth rate decelerates while the desired economic growth takes place. In case of India, large imports of petroleum products impact very adversely on trade balance and consequently on economic growth itself. This paper enumerates various ways - legal, financial and technological - that should be adopted to increase energy efficiency and conservation effort. No single method or tool in isolation may be effective but an integrated approach involving several tools and mechanisms is sure to yield desired results. (author)

Public support for conserving bird species runs counter to climate change impacts on their distributions

DEFF Research Database (Denmark)

Lundhede, Thomas; Jacobsen, Jette Bredahl; Hanley, Nick

2014-01-01

believing climate change to be man-made and people more knowledgeable about birds tended to have higher WTP for conservation of native species, relative to other people, whereas their preferences for conserving immigrant species generally resembled those of other people. Conservation investments rely...

Distance to the efficiency frontier and foreign direct investment spillovers

Czech Academy of Sciences Publication Activity Database

Sabirianova Peter, K.; Švejnar, Jan; Terrell, K.

2005-01-01

Roč. 3, 2-3 (2005), s. 576-586 ISSN 1542-4766 Institutional research plan: CEZ:AV0Z70850503 Keywords : foreign direct investment * technological frontier Subject RIV: AH - Economics http://ejournals.ebsco.com/direct.asp?ArticleID=4D4281930A8929DFF628

Ten things to get right for marine conservation planning in the Coral Triangle [version 3; referees: 2 approved

Directory of Open Access Journals (Sweden)

Rebecca Weeks

2015-12-01

Full Text Available Systematic conservation planning increasingly underpins the conservation and management of marine and coastal ecosystems worldwide. Amongst other benefits, conservation planning provides transparency in decision-making, efficiency in the use of limited resources, the ability to minimise conflict between diverse objectives, and to guide strategic expansion of local actions to maximise their cumulative impact. The Coral Triangle has long been recognised as a global marine conservation priority, and has been the subject of huge investment in conservation during the last five years through the Coral Triangle Initiative on Coral Reefs, Fisheries and Food Security. Yet conservation planning has had relatively little influence in this region. To explore why this is the case, we identify and discuss 10 challenges that must be resolved if conservation planning is to effectively inform management actions in the Coral Triangle. These are: making conservation planning accessible; integrating with other planning processes; building local capacity for conservation planning; institutionalising conservation planning within governments; integrating plans across governance levels; planning across governance boundaries; planning for multiple tools and objectives; understanding limitations of data; developing better measures of progress and effectiveness; and making a long term commitment. Most important is a conceptual shift from conservation planning undertaken as a project, to planning undertaken as a process, with dedicated financial and human resources committed to long-term engagement.

Conserving energy by eliminating waste

Energy Technology Data Exchange (ETDEWEB)

Jones, N. H.

1979-07-01

Some ways in which energy is wasted in industry are discussed and the losses involved are quantified. Reference is made to a particular loss in annealing furnaces; wasted energy in factory and lighting systems; heat generated by motors and lighting and by such processes as welding; unlagged hot pipework and most hot processes; and poor building envelope features. It is concluded that an industry should declare its intention of conservation at the highest possible level, identify conservation as a manufacturing target, and invest the responsibility in people for whom it is a full-time activity. (MCW)

THE EFFICIENCY OF FOREIGN INVESTMENTS IN THE FINANCING OF AUDITED ENTITIES

Directory of Open Access Journals (Sweden)

Berinde Sorin

2013-07-01

Full Text Available The auditing of the financial statements is a certification service intended to offer the users more credibility regarding the quality of accounting information. This is the reason why the present study selected all the Cluj county entities that, according to the public information, between 2005-2012 were subject to financial audit in order to estimate, at this level, the influence of foreign investments in the financing structure. The information provided by the financial statements of these audited entities (with or without foreign participation in share capital was analyzed for the calculation of the relevant indicators to determine the evolution of the equity financing, the recourse to external financing funds, the ratio of external funds and equity funds used for financing and the assessment of the efficiency of foreign capital invested at the level of these entities. In order to meet this objective, we considered the information from the financial statements of the concerned entities, published between 2008-2011. For the relevance of the study, we eliminated the audited entities that did not have financial statements published in all of the four financial years for various reasons (dissolution, liquidation, merger, or temporary suspension of activity or had negative working capital. The financial statement information was analyzed in view of the calculation for each audited entity of the rate of financial autonomy, the debt ratio, the debt to equity ratio and of the rotation speed of equity. The audited entities were classified into 2 major categories: audited entities with a foreign participation in share capital and audited entities with the whole share capital financed by equity funds. We applied the simple average method at the level of the both audited entities categories for each of the four analyzed indicators. Furthermore, we performed an analysis from the static and dynamic point of view of the results. The conclusions that we

Towards a Sustainable Energy Balance: Progressive Efficiency and the Return of Energy Conservation

Energy Technology Data Exchange (ETDEWEB)

Diamond, Rick; Harris, Jeff; Diamond, Rick; Iyer, Maithili; Payne, Christopher; Blumstein, Carl; Siderius, Hans-Paul

2007-08-13

We argue that a primary focus on energy efficiency may not be sufficient to slow (and ultimately reverse) the growth in total energy consumption and carbon emissions. Instead, policy makers need to return to an earlier emphasis on"conservation," with energy efficiency seen as a means rather than an end in itself. We briefly review the concept of"intensive" versus"extensive" variables (i.e., energy efficiency versus energy consumption), and why attention to both consumption and efficiency is essential for effective policy in a carbon- and oil-constrained world with increasingly brittle energy markets. To start, energy indicators and policy evaluation metrics need to reflect energy consumption as well as efficiency. We introduce the concept of"progressive efficiency," with the expected or required level of efficiency varying as a function of house size, appliance capacity, or more generally, the scale of energy services. We propose introducing progressive efficiency criteria first in consumer information programs (including appliance labeling categories) and then in voluntary rating and recognition programs such as ENERGY STAR. As acceptance grows, the concept could be extended to utility rebates, tax incentives, and ultimately to mandatory codes and standards. For these and other programs, incorporating criteria for consumption as well as efficiency offers a path for energy experts, policy-makers, and the public to begin building consensus on energy policies that recognize the limits of resources and global carrying-capacity. Ultimately, it is both necessary and, we believe, possible to manage energy consumption, not just efficiency in order to achieve a sustainable energy balance. Along the way, we may find it possible to shift expectations away from perpetual growth and toward satisfaction with sufficiency.

Opportunities and challenges for private sector entrepreneurship and investment in biodiversity, ecosystem services and nature conservation

NARCIS (Netherlands)

Lambooy, T.E.; Levashova, Y.

2011-01-01

Private companies and investors can profit from the enhancement of nature in general and from specific investments allocated to improve biodiversity and ecosystem services (BES). The question is: What is the incentive, from a private sector point of view, to invest in nature, and what are the

Motivated creativity: A conservation of energy approach

NARCIS (Netherlands)

Roskes, M.

2013-01-01

This dissertation developed a novel conservation of energy principle to explain how approach and avoidance motivation influence performance. On the one hand, we showed that avoidance motivated people can excel when they are sufficiently stimulated to invest their energy and cognitive resources. This

INVESTMENT EFFICIENCY IN NEW HOTEL BUILDINGS IN CROATIA

Directory of Open Access Journals (Sweden)

Eddy Rot

2012-12-01

Full Text Available Abandonment of mass tourism in the late 80-ies of 20th century and attitude of humane tourism oriented to the needs and requirements of individuals, it is characterized by changes in the design and architectural design of hotel facilities. Features and functionality of hotel facilities are affected by trends in tourism demand. Tourism gets new features, which hotel companies must adapt. Individualism, humanism and hedonism are the guidelines that accompany the tourist industry in the 21st century. They determine the new considerations shaping and arranging hotel facilities, and the need for transformation of the hotel buildings designed for mass tourism in facilities for contemporary tourist who is aware of his needs, desires and aspirations. These trends should be monitored and the hotel industry in Croatia. The last decade marked by investments in reconstruction and modernization of existing hotel facilities, but investment in new hotel facilities are still minor. The reason for this is the fact that the hotel industry is low profitable activity, but also in the unfinished privatization, lack of domestic financial capital and the lack of attractiveness of the Croatia to attract foreign capital which would allow meaningful construction of new and rehabilitation of existing hotel facilities in line with trends in the tourism market. This paper critically examines the state of the hotel industry in the Republic of Croatia and its competitiveness in Europe, and it presents the results of research on the effectiveness of building a fictional hotel in Croatia, with a comparative analysis with European hotels.

EVALUATION OF ECONOMIC EFFICIENCY OF INVESTMENT IN THE INDUSTRIAL LOGISTICS PARK OF THE NOVOSIBIRSK REGION

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Kogan A. B.

2016-03-01

Full Text Available The author describes a method for estimation the economic efficiency, based on the input-output model. The proposed method develops the author of well-known methods of cost-benefits analysis. The method is used to assess the effectiveness of budget financing the establishment of Industrial logistics Park (PLP in the Novosibirsk region (NSO. The estimation is based on the input-output model developed for the NSO. Economic benefits are assessed on the basis of growth in gross value added (GVA. This takes into account a number of losses GVA, for example, losses due to the displacement of existing producers, losses due to the purchase of imported resources, etc. Economiccosts is estimated as a fulloutput of the economy, necessary for the establishment and operation of the investment project.

India welcomes foreign investment in power

International Nuclear Information System (INIS)

Kishewitsch, S.

1993-01-01

India's electricity supply capacity is 72 GW, and there are plans to add 48 GW every five years for the next 15 years. Economic growth is about 6% and new policies have been implemented to encourage foreign investment in the electric power sector, since state electricity boards lack funds for expansion. Ceilings on foreign ownership have been removed, tariffs are being reduced, rupees are made convertible on trade accounts, and licenses now have 30-year terms. To ensure investor interest, the national parliament has guaranteed a 16% return on equity. Power system developers interested in the Indian market will have to overcome problems associated with bureaucratic inefficiency, low load factors, a high percentage of rural population, lack of local financing, uneven quality of coal supplies, cumbersome regulations, poor maintenance of equipment, transportation delays, and widespread theft of power. In some areas of India, investments in improving the efficiency of the transmission or generation system, or improving efficiency of end-use industrial processes, could be more cost-effective than building new power plants. Recommendations are made for Canadian firms interested in investing in India's electric power sector

Essays on electricity transmission investment and financial transmission rights

Science.gov (United States)

Shang, Wenzhuo

The U.S. electric power industry has been going through fundamental restructuring and realignment since the 1990's. Many issues and problems have emerged during the transition, and both economists and engineers have been looking for the solutions fervently. In this dissertation, which consists primarily of three essays, we apply economics theory and techniques to the power industry and address two related issues, transmission investment and financial transmission rights (FTRs). The first essay takes the decentralized perspective and investigates the efficiency attribute of market-based transmission investment under perfect competition. We clarify, for the first time, the nature of the externality created by loop flows that causes transmission investment to be inefficient. Our findings have important implications for better understanding of transmission market design and creating incentives for efficient transmission investment. In the second essay, we define several rules for allocating transmission investment cost within the framework of cooperative game theory. These rules provide fair, stable or efficient cost allocations in theory and are good benchmarks against which the allocation mechanism in practice can be compared and improved upon. In the last essay, we make exploratory efforts in analyzing and assessing empirically the performance of the Midwest independent system operator (MISO) FTR auction market. We reveal some stylized facts about this young market and find that it is not efficient under the risk-neutrality assumption. We also point out and correct the drawbacks in previous related work and suggest about more complete empirical work in future. In all, this dissertation makes both theoretic and empirical analysis of the two hot issues related to the power industry and comes up with findings that have important implications for the development of this industry.

Data on electrical energy conservation using high efficiency motors for the confidence bounds using statistical techniques.

Science.gov (United States)

Shaikh, Muhammad Mujtaba; Memon, Abdul Jabbar; Hussain, Manzoor

2016-09-01

In this article, we describe details of the data used in the research paper "Confidence bounds for energy conservation in electric motors: An economical solution using statistical techniques" [1]. The data presented in this paper is intended to show benefits of high efficiency electric motors over the standard efficiency motors of similar rating in the industrial sector of Pakistan. We explain how the data was collected and then processed by means of formulas to show cost effectiveness of energy efficient motors in terms of three important parameters: annual energy saving, cost saving and payback periods. This data can be further used to construct confidence bounds for the parameters using statistical techniques as described in [1].

Comparison of extracapillary and endocapillary blood flow oxygenators for open heart surgery in dogs: efficiency of gas exchange and platelet conservation.

Science.gov (United States)

Hoshi, Katsuichiro; Tanaka, Ryou; Shibazaki, Akira; Nagashima, Yukiko; Hirao, Hidehiro; Namiki, Ryosuke; Takashima, Kazuaki; Noishiki, Yasuharu; Yamane, Yoshihisa

2003-03-01

The goal of the current study was to compare the efficiency of gas exchange and platelet conservation of a new extracapillary blood flow oxygenator versus an endocapillary blood flow oxygenator during open heart surgery with extracorporeal circulation in dogs. Dilation and remodeling of the right ventricular outflow tract of dogs was performed using a patch graft technique to simulate pulmonary stenosis. Sequential pre- and post-operative blood analysis revealed that gas exchange efficiency and platelet conservation was significantly greater with the extracapillary blood flow oxygenator than with the endocapillary blood flow oxygenator. However, the priming volume of the extracapillary blood flow oxygenator was significantly greater, leading to hemodilution. We conclude that while the extracapillary blood flow oxygenator provided benefits in terms of gas exchange and platelet conservation, development of a smaller extracapillary blood flow type oxygenator to reduce hemodilution effects would be beneficial.

High-tech industries' overseas investment performance evaluation - Application of data envelopment analysis

Directory of Open Access Journals (Sweden)

Ridong Hu

2013-12-01

Full Text Available With the rapid change of the social environment, Mainland China has become a new economic market due to the great domestic demand caused by its enormous population and the increasing economic growth rate. Taiwanese businesses have gradually turned to develop in China under the pressure of increasing domestic wages and land costs for expanding factories as well as the enhancement of environmental protection. Mainland China presents the advantages of ample land, low labor costs, monoethnicity, and easy language communication making it an attractive major investment location for Taiwanese high-tech industries. Data Envelopment Analysis (DEA is applied to measure overseas investment efficiency evaluation of Taiwanese high-tech businesses in China, where the Delphi Method is used for selecting the inputs of the number of employees, R&D expenses, and gross sales in total assets. Sensitivity Analysis is further utilized for acquiring the most efficient unit and individual units with operating efficiency. The research results show that 1.Three high-tech businesses that present constant returns to scale perform optimally with overseas investment efficiency 2.Two high-tech companies with decreasing returns to scale appear that they could improve the overseas investment efficiency by decreasing the scale to enhancing the marginal returns, and 3.Sixteen high-tech enterprises reveal increasing returns to scale, showing that they could expand the scale to enhance the marginal returns and further promote efficiency.

Inverse Statistics and Asset Allocation Efficiency

Science.gov (United States)

Bolgorian, Meysam

In this paper using inverse statistics analysis, the effect of investment horizon on the efficiency of portfolio selection is examined. Inverse statistics analysis is a general tool also known as probability distribution of exit time that is used for detecting the distribution of the time in which a stochastic process exits from a zone. This analysis was used in Refs. 1 and 2 for studying the financial returns time series. This distribution provides an optimal investment horizon which determines the most likely horizon for gaining a specific return. Using samples of stocks from Tehran Stock Exchange (TSE) as an emerging market and S&P 500 as a developed market, effect of optimal investment horizon in asset allocation is assessed. It is found that taking into account the optimal investment horizon in TSE leads to more efficiency for large size portfolios while for stocks selected from S&P 500, regardless of portfolio size, this strategy does not only not produce more efficient portfolios, but also longer investment horizons provides more efficiency.

Guatemala conservation concession for the Maya Biosphere Reserve

OpenAIRE

Conservation International

2007-01-01

Metadata only record The national government of Guatemala has issued timber concessions to local communities within its 2 million hectare Maya Biosphere Reserve. Working under this framework, CI is proposing a conservation concession contract with two communities. The concessions would be designed to pay salaries for conservation managers, to invest in projects such as guiding tourists to nearby archaeological sites and to provide community services such as education and health care, in ex...

Suboptimal investments and M&A deals in emerging capital markets

Directory of Open Access Journals (Sweden)

Cherkasova Victoria

2016-01-01

Full Text Available This paper focuses on the efficiency of target-company investment decisions before and after Merger & Acquisition deals. We study whether M&A deals help to solve the problem of suboptimal investment after the acquisition. Using a sample of 145 target companies from BRICS countries that were acquired during the period 2004-2014, we outline those that had over- or underinvested before the deal and show that more than half the companies managed to optimize the investment level after the deal. We determine the key factors that improve the inefficiency of investment decisions and demonstrate that the industry and country have an impact on the degree of suboptimal investment.

Evolving concepts and opportunities in soil conservation

Directory of Open Access Journals (Sweden)

Julian Dumanski

2015-03-01

The paper discusses some of the new driving forces, new international programs, and new potential partners in soil conservation. Increasingly, international efforts to mitigate land degradation are shifting from studies of the biophysical processes to improving the global, national and local enabling policy environment, as well as mainstreaming of soil conservation into national and regional policies and programs. Also, increased emphasis is placed on economic instruments and international markets, such as carbon trading, and incorporation of non-market values in ecosystem investment, such as payment for ecosystem services, certification schemes, etc. The paper discusses some of the opportunities for soil conservation that accrue from these new driving forces.

Energy efficiency improvement procedures and audit results of electrical, thermal and solar applications in Palestine

International Nuclear Information System (INIS)

Ibrik, I.H.; Mahmoud, M.M.

2005-01-01

Energy conservation in utilities has played a vital role in improving energy efficiency in the industrial, commercial and residential sectors. The electrical energy consumption in Palestine has increased sharply in the past few years and achieved by the end of 2001 to 10% per year. It is expected that this percentage will increase to about 12% if the current political situation will end hopefully with peace. Modern energy efficient technologies are needed for the national energy policy. Such technologies are investigated in this paper. Implementing of a national 3 years project aiming at energy efficiency improvement in residential and industrial sectors as well as in public utilities, which include wide range of diversified audits and power measurements, had led to creating this paper. Measurement and audit results had shown that the total conservation potential in these sectors is around 15% of the total energy consumption. The associated costs of the investment in this field are relatively low and correspond to a pay back period varying in the range from 6 to 36 months. Consequently, the energy conservation policy will be seriously improved in the forthcoming years. It is estimated that 10% of the new energy purchasing capacity will be reduced accordingly

A Global Mitigation Hierarchy for Nature Conservation

Science.gov (United States)

Bull, Joseph W; Addison, Prue F E; Burgass, Michael J; Gianuca, Dimas; Gorham, Taylor M; Jacob, Céline; Watson, James E M; Wilcox, Chris; Milner-Gulland, E J

2018-01-01

Abstract Efforts to conserve biodiversity comprise a patchwork of international goals, national-level plans, and local interventions that, overall, are failing. We discuss the potential utility of applying the mitigation hierarchy, widely used during economic development activities, to all negative human impacts on biodiversity. Evaluating all biodiversity losses and gains through the mitigation hierarchy could help prioritize consideration of conservation goals and drive the empirical evaluation of conservation investments through the explicit consideration of counterfactual trends and ecosystem dynamics across scales. We explore the challenges in using this framework to achieve global conservation goals, including operationalization and monitoring and compliance, and we discuss solutions and research priorities. The mitigation hierarchy's conceptual power and ability to clarify thinking could provide the step change needed to integrate the multiple elements of conservation goals and interventions in order to achieve successful biodiversity outcomes. PMID:29731513

CONCEPTUAL APPROACHES TO FORMING MECHANISM OF INVESTMENT SAFETY REALIZATION

Directory of Open Access Journals (Sweden)

Vladimir Talover

2016-11-01

realizing investment safety are determined on the basis of the suggested concept. Criteria assessment of the national economy investment safety should include assessment of: ratio of the national and foreign investments; assurance of the enlarged recreation; level of economy restructuring and re-equipping; level of accumulated resources; level of financing scientific-technical sphere. Low level of investment safety is explained by the lack of wide range of investment objects and imperfection of investment mechanisms, as well as the lack of developed investment market. Practical implications. The suggested conceptual statements concerning formation of the mechanism of realizing investment safety determine unity in the system of economic interests and participants of the investment sphere, as well as solving collisions that appear between them. The priority directions of the state policy in assuring investment safety should become the following: creating favourable macroeconomic and entrepreneurial environment, promoting development of business, protecting owners and strengthening efficiency and transparency of the use of state finances. Value/originality. The suggested conceptual principles of forming efficient mechanism of investment safety give the reason for forming an appropriate system of indicators and allow determining prospects and threads to the investment safety level in the real time.

Investment risk management by applying contemporary modern portfolio theory

Directory of Open Access Journals (Sweden)

Jakšić Milena

2015-01-01

Full Text Available Investment risk is the principal threat to the assets side of the balance sheets of financial institutions. It is evident that investors who concentrate their wealth on one type of securities can rarely be found. Instead, they tend to invest diversified portfolio of securities. This reduces the degree of risk of the expected return, which depends both on the absolute risk of each investment in the portfolio, and the relationship that exists between individual investments within the portfolio. The paper analyzes the investment risk management by using modern portfolio theory in both national and global financial f lows. At the same time, the paper considers the risk management models that ensures efficient portfolio diversification, aiming at investment risk reduction. It is pointed out that the investment risk management in modern financial f lows is a complex process, and that the development of financial theory goes towards improving, soft risk management method.

The Economics of Foreign Direct Investment Incentives

OpenAIRE

Magnus Blomstrom; Ari Kokko

2003-01-01

This Paper suggests that the use of investment incentives focusing exclusively on foreign firms - although motivated in some cases from a theoretical point of view - is generally not an efficient way to raise national welfare. The main reason is that the strongest theoretical motive for financial subsidies to inward FDI – spillovers of foreign technology and skills to local industry – is not an automatic consequence of foreign investment. The potential spillover benefits are realized only if ...

Use of habitats as surrogates of biodiversity for efficient coral reef conservation planning in Pacific Ocean islands.

Science.gov (United States)

Dalleau, Mayeul; Andréfouët, Serge; Wabnitz, Colette C C; Payri, Claude; Wantiez, Laurent; Pichon, Michel; Friedman, Kim; Vigliola, Laurent; Benzoni, Francesca

2010-04-01

Marine protected areas (MPAs) have been highlighted as a means toward effective conservation of coral reefs. New strategies are required to more effectively select MPA locations and increase the pace of their implementation. Many criteria exist to design MPA networks, but generally, it is recommended that networks conserve a diversity of species selected for, among other attributes, their representativeness, rarity, or endemicity. Because knowledge of species' spatial distribution remains scarce, efficient surrogates are urgently needed. We used five different levels of habitat maps and six spatial scales of analysis to identify under which circumstances habitat data used to design MPA networks for Wallis Island provided better representation of species than random choice alone. Protected-area site selections were derived from a rarity-complementarity algorithm. Habitat surrogacy was tested for commercial fish species, all fish species, commercially harvested invertebrates, corals, and algae species. Efficiency of habitat surrogacy varied by species group, type of habitat map, and spatial scale of analysis. Maps with the highest habitat thematic complexity provided better surrogates than simpler maps and were more robust to changes in spatial scales. Surrogates were most efficient for commercial fishes, corals, and algae but not for commercial invertebrates. Conversely, other measurements of species-habitat associations, such as richness congruence and composition similarities provided weak results. We provide, in part, a habitat-mapping methodology for designation of MPAs for Pacific Ocean islands that are characterized by habitat zonations similar to Wallis. Given the increasing availability and affordability of space-borne imagery to map habitats, our approach could appreciably facilitate and improve current approaches to coral reef conservation and enhance MPA implementation.

French energy conservation policies in housing since 1973: an innovation put to the test of local practice

Energy Technology Data Exchange (ETDEWEB)

Bonaiti, J.P. (Inst. d' Economie et de Politique de l' Energie, Univ. des Science Sociales de Grenoble, France)

1989-04-01

In France, while government agencies were analyzing the process of formation of the conservation market in building construction, along with the various obstacles to decision making: passivity of private owners of apartment buildings, lack of information, fragmentation of supply, more innovative public sector housing authorities were discovering the need for an integrated campaign, assembling a package of all the components of energy conservation (investment, maintenance, education...) to attain maximum efficiency. Thus, the hypothesis was formulated that energy conservation is a complex product of technical and social innovation, or more precisely, a 'function', whose dissemination remains conditioned by the local situations, especially the structures and the methods of management of the housing stock. Then, fifteen programmes were observed and two types of strategies or processes identified: top-down (sector based) and local (area based). The first type was found to be very expensive, too generalized, pressuring, and arousing exagerated expectations. The second was considered more coherent and integrated to local policy (especially building retroffiting), more progressive and educative since it entailed an auditing approach differentiated to individual needs, and the presence of independant advisers. This last strategy seemed more efficient in the long term and on the whole more suited to a period of low energy prices.

Making conservation work for everyone

Energy Technology Data Exchange (ETDEWEB)

Wiersma, J. [Veridian Corp., Ajax, ON (Canada)

2004-07-01

This presentation discussed the economic value of conservation, the optimal deployment of energy conservation. A sample load profile was presented to demonstrate how much electricity the average residential customer uses on a summer day. The average customer does not have the tools to understand the financial consequences of conservation for different types of equipment at different times of the day. Smart metering technology could help in this regard. Accurate unsubsidized prices are also considered to be the best incentive to conserve because customers will reduce electricity use when the prices are high. It was also suggested that standards for new appliances should be increased effectively to their economic value. The enablers to energy conservation include solid consumer education programs, real time metering in places where it is cost effective, real time pricing in places where it is practical, and power rates that reflect real costs. Barriers to energy conservation include the residual economic advantage that may be insufficient to justify investment; support from local distribution companies and transmission companies if the lost revenue adjustment mechanism (LRAM) is not sufficient to recover lost revenue and if LDCs are not sufficiently involved in the design of the electricity conservation program. 7 figs.

THE INFLUENCE OF THE NET PROFIT OVER THE INVESTMENT DECISION MAKING

Directory of Open Access Journals (Sweden)

Mihaela GADOIU

2017-12-01

Full Text Available This article aims at analysing how the investment decision is influenced by the final result of the activity of an entity after paying the profit tax. Starting from the need to make investments in order to ensure the economic efficiency and subsequently the economic growth, we sought to capture both the advantages and the disadvantages of the various versions that must be considered for the selection of the investment project. From the perspective of the presentation of this topic, we have analysed, in addition to the aspects related to the notion of investment, the investment typology, the decision to invest in a certain environment, and a number of economic and financial indicators used in order to make an investment decision.

Possibilities for conservation and efficiency of irrigation systems in hydropower; Possibilidades de conservacao e eficientizacao hidroenergetica em sistemas de irrigacao

Energy Technology Data Exchange (ETDEWEB)

Viana, Augusto Nelson Carvalho; Ricardo, Mateus [Universidade Federal de Itajuba (UNIFEI), MG (Brazil). Grupo de Energia], emails: augusto@unifei.edu.br, mateus@unifei.edu.br

2008-07-01

This paper presents a literature review on efficiency and conservation of electricity and water in irrigation systems, focusing on the pumping systems used for that purpose. It's made an introduction to the theory about pumping systems and irrigation, which provides the conceptual basis for the understanding of the technologies and best practices on conservation and rational use of water and electricity presented in the paper development. (author)

Analysis of foreign direct investment in the Czech Republic

Directory of Open Access Journals (Sweden)

Marcela Domesová

2011-01-01

Full Text Available The foreign direct investments are joined with the process of world globalisation. Foreign direct investments are carried out especially by multinational companies. The basic forms of the foreign direct investments are “greenfield” investments and “brownfield“ investments in the form of the privatization. The Czech Republic has shown mass inflow of foreign direct investments since 1998. The aim of the paper is to evaluate the inflow of foreign direct investments in the context of the balance of payments and the evaluation their impact on the outside economic equilibrium and gross value added in the Czech Republic. The subject of the analysis is the identification of the most important factors of foreign direct investments inflow and the classification of foreign direct investments inflow from the point of view of branches and technological intensity of production as well. The aim is fulfilled by analysis of selected indicators of the balance of payments, analysis of gross value added and international comparison of foreign direct investments inflow in countries of Visegrad Group. The results show the part of privatization in foreign capital inflow, increasing import intensity and export efficiency linked with foreign direct investments. The results are subject of research focused on the process of world globalisation and regional development.

Energy conservation through the implementation of cogeneration and grid interconnection

International Nuclear Information System (INIS)

Dashash, M. A.

2007-01-01

With increasing awareness of energy conservation and environmental protection, the Arab World is moving to further improve energy conversion efficiency. The equivalent of over 2.7 MM bbl is being daily burnt to fuel the thermal power plants that represent 92% of the total Arab power generation. This adds up to close to one billion barrels annually. At a conservative 30$ per barrel, this represents a daily cost of over $81 Million. This paper will introduce two strategies with the ultimate objective to cut-off up to half of the current fuel consumption. Firstly, Cogeneration Technology is able to improve thermal efficiency from the current average of less than 25% to up to 80%. Just 1% improvement in power plant thermal efficiency represents 3 million $/day in fuel cost savings. In addition, a well-designed and operated cogeneration plant will: - Reduce unfriendly emissions by burning less fuel as a result of higher thermal efficiency, - Increase the decentralization of electrical generation, - Improve the reliability of electricity supply. As an example, the Kingdom of Saudi Arabia's experience of implementing cogeneration will be presented, in particular within its hydrocarbon facilities and desalination plants. This will include the existing facilities and the planned and on-going projects. Secondly, by interconnecting the power networks of all the adjacent Arab countries, the following benefits could be reached: - Reduce generation reserves and enhance the system reliability, - Improve the economic efficiency of the electricity power systems, - Provide power exchange and strengthen the supply reliability, - Adopt technological development and use the best modern technologies. At least two factors plead for this direction. On one hand, the four-hour time zone difference from Eastern to Western Arab World makes it easy to exchange power. On the other hand, this will help to reduce the reserve capacity and save on corresponding Capital investment, fuel, and O and M

Consumer’s Attitude Towards Investments in Residential Energy-Efficient Appliances: How End-User Choices Contribute to Change Future Energy Systems

DEFF Research Database (Denmark)

Baldini, Mattia; Trivella, Alessio; Wente, Jordan William Halverson

2017-01-01

conventional and environmentally friendly alternatives when purchasing new household electric appliances. This study employs empirical data from a survey conducted by the Danish Energy Agency to model the decision criteria behind Danish consumer investment in energy-efficient labeled appliances. The analysis...... uses logistic regression over a set of socioeconomic, demographic, and behavioral variables to predict purchase propensities. The findings are relevant for policy makers interested in targeting consumers in the appliance market, particularly for a relatively wealthy national context. The study...

IMPLICATIONS OF FOREIGN DIRECT INVESTMENTS ON SMALL ANS MEDIUM ENTERPRISES IN ROMANIA

Directory of Open Access Journals (Sweden)

Nicoleta, MIHAILĂ

2014-11-01

Full Text Available Foreign investments contribute massively to the increase of business profitability. Attraction and efficient allocation of capital inflows (mainly in the form of high quality investment made at microeconomic level represent the main “engine” for GDP growth in medium and long term. This will facilitate private sector access to finance investments, encourage technology transfer and innovation, promote technological parks and business incubators, stimulate innovation and entrepreneurship, support female entrepreneurship, increase efficiency and labor productivity for private companies , as well as management practices based on the principle of investing in people. Analysing the business environment involves, among other things, identifying and removing barriers that produce strain effects of overcoming difficulties for firms, respectively: - the desire that the investment in human capital would have immediate effects; - Insufficient correlation of wage increases and granting bonuses with increasing productivity; - Dialogue and partnerships with universities that could bring competitive advantage stands sometimes in incipient phases;

Resource conservation management

International Nuclear Information System (INIS)

Miller, W.

1999-01-01

Resource conservation management is a management program similar to financial management in that its success requires commitment by all levels of the organization to the process as well as an accounting procedure and auditing of critical components. Resource conservation management provides a framework for all elements of efficient building operations and maintenance. The savings connected with the program are principally connected with changes in the way buildings are operated and maintained. Given the reduction in rebates for the installation of energy-efficient equipment, this approach has considerable promise. This paper discusses the evolution of the resource conservation management service and the savings associated with a two-year pilot effort with seven school districts, as well as the critical components of a successful program

78 FR 51463 - Energy Conservation Program: Energy Conservation Standards for Metal Halide Lamp Fixtures

Science.gov (United States)

2013-08-20

... merging the metal halide lamp fixture and the high-intensity discharge (HID) lamp rulemakings. This NOPR... Conservation Program: Energy Conservation Standards for Metal Halide Lamp Fixtures; Proposed Rule #0;#0;Federal...: Energy Conservation Standards for Metal Halide Lamp Fixtures AGENCY: Office of Energy Efficiency and...

INVESTMENT ASPECT IN MATERIAL INCENTIVE OF HUMAN RESOURCES

Directory of Open Access Journals (Sweden)

Potasheva Galina Anatol’evna

2017-03-01

Full Text Available Value of intellectual resources in modern economy due to which the assets of human resources became one of the factors of formation of value of systems on the basis of their investing, is considered. Adequate evaluation of employees’ activities as one of the basic resources will make it possible to meet competition under conditions of "survival" through periodic formation of socio-economic profile and stimulation of investment in human resources on the basis of the following technologies: formation of a balanced scorecard system, creation of a mechanism of formation and distribution of labour compensation funds, use of the golden section principle. Establishment of wages according to the golden section principle contributes to the stability and commitment of employees and increase of efficiency of investments in human resources, provided that it doubles the sales volume and should accordingly increase the wages of each employee by a factor of 1.62. Statistical analysis demonstrated that organizations that work using the golden section principle increased the labour productivity on average by 10-20 %, augmented the turnover by a factor of 1.3–1.5, minimized the costs by 15-20 %. Application of the golden section technology creates conditions necessary for economic growth on the basis of efficiency of investments in human resources.

Not more, but strategic collaboration needed to conserve Borneo's orangutan

OpenAIRE

Courtney L. Morgans; Angela M. Guerrero; Marc Ancrenaz; Erik Meijaard; Kerrie A. Wilson

2017-01-01

In conservation, Collaboration is thought to improve returns from investment and is frequently encouraged, however not all collaborations are equal and may therefore lack characteristics important for addressing collective action problems. Furthermore, partnerships that are advantageous for a collective may not necessarily be advantageous for an individual. This study investigated collaboration within the Bornean orangutan (Pongo pygmaeus) conservation sector – a system with reported ineffici...

Sustainable Markets Investment Briefings: Investment Treaties

Energy Technology Data Exchange (ETDEWEB)

Cotula, Lorenzo

2007-08-15

This is the second of a series of briefings which discuss the sustainable development issues raised by legal arrangements for the protection of foreign investment. The briefings are based on legal research by IIED and its partners. The goal is to provide accessible but accurate information for human rights, development and environmental organisations working on issues raised by foreign investment in low- and middle-income countries. Briefing 2 explains how investment treaties between states work to protect and promote foreign investment.

Energy conservation in agriculture sector

International Nuclear Information System (INIS)

Maggo, J.N.

1991-01-01

The annual production of foodgrains in India rose from 50.8 million tonnes in 1950-51 to 178 million tonnes in 1989-90. One of the factors which led to this impressive growth is the continued increase in input of mechanization and energy in the agricultural sector by way of tractors running on diesel and pumps (for water supply) based on diesel and electricity. Electricity consumption in agricultural sector rose from 833 million kWh in 1960-61 to 47000 million kWh in 1990-91 and is further expected to rise to 81.8 TWH in 1999-2000. Considering the heavy investments required for production and supply of energy, it has become imperative to avoid wasteful use of energy and to use energy more efficiently. This can be done by : (1) Changing the electricity tariff structure from the present horse power related rates to energy consumption related rates. This will induce farmers to avoid waste in energy use. (2) Adopting energy efficiency measures. These measures are : (1) replacement of inefficient foot valves, suction pipes and delivery pipes of the pump sets, (2) increasing power factor of electric motors used for pumps sets, (3) reducing distribution losses over LT lines, and (4) optimizing use of fertilizers. This optimization will indirectly conserve energy by reducing electricity consumption by fertilizer industry. (M.G.B.). 5 refs., 4 tabs

Dynamic energy conservation model REDUCE. Extension with experience curves, energy efficiency indicators and user's guide

International Nuclear Information System (INIS)

Uyterlinde, M.A.; Rijkers, F.A.M.

1999-12-01

The main objective of the energy conservation model REDUCE (Reduction of Energy Demand by Utilization of Conservation of Energy) is the evaluation of the effectiveness of economical, financial, institutional, and regulatory measures for improving the rational use of energy in end-use sectors. This report presents the results of additional model development activities, partly based on the first experiences in a previous project. Energy efficiency indicators have been added as an extra tool for output analysis in REDUCE. The methodology is described and some examples are given. The model has been extended with a method for modelling the effects of technical development on production costs, by means of an experience curve. Finally, the report provides a 'users guide', by describing in more detail the input data specification as well as all menus and buttons. 19 refs

The Volatile Effect of Conflict Risk on Foreign Investment

Directory of Open Access Journals (Sweden)

Umit Hacioglu

2013-04-01

Full Text Available The opportunities of investment brought along by the global economic integrity might turn into a threat in an instant and undermine the underlying structures of national economies. It is necessary to analyze the conflict risk properly in terms of both portfolio investment and finance strategies. This is an important step to be included in the process of arriving to a rational decision. In that way, the existing investment risks could be priced more efficiently. It is proved on Collier and Starr models that there is a correlation between the conflict risk and unemployment, economic recession, inflation and fiscal discipline. In brief, the breakdown in the economic parameters increases the conflict risk and a progress occurring in the opposite way, decreases that risk. In this study, it is discussed the effects of the conflict risk for foreign investment availabilities. Keywords: Foreign direct investment; volatile effect; conflict risk; investment climate

When should irrigators invest in more water-efficient technologies as an adaptation to climate change?

Science.gov (United States)

Malek, K.; Adam, J. C.; Stockle, C.; Brady, M.; Yoder, J.

2015-12-01

The western US is expected to experience more frequent droughts with higher magnitudes and persistence due to the climate change, with potentially large impacts on agricultural productivity and the economy. Irrigated farmers have many options for minimizing drought impacts including changing crops, engaging in water markets, and switching irrigation technologies. Switching to more efficient irrigation technologies, which increase water availability in the crop root zone through reduction of irrigation losses, receives significant attention because of the promise of maintaining current production with less. However, more efficient irrigation systems are almost always more capital-intensive adaptation strategy particularly compared to changing crops or trading water. A farmer's decision to switch will depend on how much money they project to save from reducing drought damages. The objective of this study is to explore when (and under what climate change scenarios) it makes sense economically for farmers to invest in a new irrigation system. This study was performed over the Yakima River Basin (YRB) in Washington State, although the tools and information gained from this study are transferable to other watersheds in the western US. We used VIC-CropSyst, a large-scale grid-based modeling framework that simulates hydrological processes while mechanistically capturing crop water use, growth and development. The water flows simulated by VIC-CropSyst were used to run the RiverWare river system and water management model (YAK-RW), which simulates river processes and calculates regional water availability for agricultural use each day (i.e., the prorationing ratio). An automated computational platform has been developed and programed to perform the economic analysis for each grid cell, crop types and future climate projections separately, which allows us to explore whether or not implementing a new irrigation system is economically viable. Results of this study indicate that

THE CHOICE OF INVESTMENT LOCATION – THE DETERMININING FACTOR OF ITS YIELD

Directory of Open Access Journals (Sweden)

GUŢĂ ANCA JARMILA

2016-08-01

Full Text Available The main objective of a financial manager is to use the funds of the company within its managerial authority, so that at long-term the firm obtains the investments yield at least as high as that which could be achieved through alternative investments, with similar risks. The second important objective is to maximize the present value of investment resources to achieve the higher yield as possible, without existing the undue risk. For maximization of the earning capacity of the firm, the resources are allocated in such a way that the earning are allocated in such a way that the earning capacity is transformed into a high efficiency as possible for the company. For achieving these objectives the measurement methods are needed to evaluate the company performance. A basic measurement method is the return on investment (ROI, which describes the relationship between profit and investment. The planning of a business regardless of the investment area must take into account the location of the investment project because of its importance to the future success of the company. In this context, the paper analyzes the main aspects concerning the natural environment and related geophysical conditions, the environmental impact of the project, socio-economic and governmental policies as well as the industrial infrastructure conditions, key issues in determining the efficiency of investment for a company with industrial production activity

Investment innovation trends: Factor-based investing

Directory of Open Access Journals (Sweden)

Sanja Centineo

2017-05-01

Full Text Available This article shows that it can take a long period of time until research knowledge finds its application in practice and get disseminated as innovation trend. Factor-based investing is such an example. Having its developing roots in the nineties, it took more than two decades until this approach was detected by the by investment community. The goal of this article is to recall the definition of factor investing, present its historical evolvement and motivate its recent break-through and current trend among investment practitioners (known also under the notion smart beta. It aims at familiarizing with this investment approach from a practical perspective and highlighting its diversifying benefits in a portfolio context with the potential to outperform the market on risk-adjusted basis.

Combination of real options and game-theoretic approach in investment analysis

Science.gov (United States)

Arasteh, Abdollah

2016-09-01

Investments in technology create a large amount of capital investments by major companies. Assessing such investment projects is identified as critical to the efficient assignment of resources. Viewing investment projects as real options, this paper expands a method for assessing technology investment decisions in the linkage existence of uncertainty and competition. It combines the game-theoretic models of strategic market interactions with a real options approach. Several key characteristics underlie the model. First, our study shows how investment strategies rely on competitive interactions. Under the force of competition, firms hurry to exercise their options early. The resulting "hurry equilibrium" destroys the option value of waiting and involves violent investment behavior. Second, we get best investment policies and critical investment entrances. This suggests that integrating will be unavoidable in some information product markets. The model creates some new intuitions into the forces that shape market behavior as noticed in the information technology industry. It can be used to specify best investment policies for technology innovations and adoptions, multistage R&D, and investment projects in information technology.

Application of third order stochastic dominance algorithm in investments ranking

Directory of Open Access Journals (Sweden)

Lončar Sanja

2012-01-01

Full Text Available The paper presents the use of third order stochastic dominance in ranking Investment alternatives, using TSD algorithms (Levy, 2006for testing third order stochastic dominance. The main goal of using TSD rule is minimization of efficient investment set for investor with risk aversion, who prefers more money and likes positive skew ness.

Management of purchase process in realization of building investment

Directory of Open Access Journals (Sweden)

M. Radoń

2010-07-01

Full Text Available In building companies process of product and service purchase is one of the main processes of quality management system [1]. Because ofshort time-limits of contract realization, high specialization of works, necessity of fulfillment of high quality requirements and assurance of profitable financial effects the management of purchase process becomes very important element of work of the building company. The serious problem in creating and keeping the efficient system of purchase management is special type of purchase in building companies. Particular investments are realized in different country regions, objects are built based on the individual design documentations and each building becomes independent organization unit that organize purchase necessary for investment realization.An example of the management system of purchase process in building company is described in the paper. Just In Time system is widelyused during the realization of building investment. This system is especially useful in buildings because some investments, especially inbig cities, are characterized by restriction in building site. This makes impossible storing the products. In such cases close synchronization between times of delivery and requirements of purchase schedule and schedule of building realization is very important. Criteria of supplier selection as well as the methods of choosing the supplier are also presented in the paper. Special attention is paid to necessity of valuation of the purchase efficiency and the purchase risk. Basic coefficients of purchase efficiency are also described in the paper.

Economic assessment of energy efficiency investments in dwellings = Evaluación económica de inversiones de eficiencia energética en viviendas

Directory of Open Access Journals (Sweden)

Hector Hernández

2017-08-01

Full Text Available In order to improve the energy performance of buildings, the need to value economically investments of energy efficiency associated with the rehabilitation of dwellings arises. This point of view provides an useful tool for analysts who start in the economic appraisal of energy efficiency investments. The present research gives a conceptual framework for the economic assessment of these types of investments in dwellings. As a result, it is possible to identify two techniques in the appraisals of this nature: dynamic and static approaches. Both methods contrast the benefits (energy savings with the costs of investments over time. However, they differentiate the opportunity and the moment when investment must be carried out given an uncertainty scenario. This conceptual precision allows the study of several publications where different alternatives in retrofitting houses where evaluated, confirming the considerations that must be taken into account when economic modelling is made: the type of approach to be used (dynamic or static and; at the definition of the investment alternatives and scenarios, the aspects of time, irrevocability and uncertainty. Resumen En pro de la mejora del desempeño energético de los edificios, surge la necesidad de evaluar económicamente las inversiones de eficiencia energética asociadas a la rehabilitación de viviendas. Este punto de vista trata de ser una herramienta útil para analistas que se inicien en la evaluación económica de inversiones en eficiencia energética. La presente investigación muestra un marco conceptual de la evaluación económica de este tipo de inversiones en viviendas. Como resultado, es posible identificar dos enfoques presentes en los análisis económicos de esta naturaleza: el dinámico y el estático. Ambos métodos contrastan los beneficios (ahorros energéticos con los costes de las inversiones en el tiempo. Sin embargo, diferencian la oportunidad y el momento en que la inversi

Socio-economic aspects of water conservation with reference to Pakistan

International Nuclear Information System (INIS)

Malik, A.H.

2005-01-01

To achieve optimum water conservation and improved water use efficiency, a water conservation enabling environment is needed that includes: 1. Education and training, improvement of management systems and public incentives: these measures allow increase from 20 to 30 % water resources .2. irrigation management transfer to users, management of supply infrastructure and an optimised resource policy to arrive at 60 to 80 % of the potential; 3. further research of the public and the private sector to utilise fully the whole available potential. Pakistan's water-resources have been diminishing at an alarming rate, due to further increase of population, per capita water availability in Pakistan goes down below 1,000 m/sup 3/, that means Pakistan is nearing conditions of chronic water-stress. The quality of water is also deteriorating with time. To improve the situation, potential of socio economic factors can be mobilized like population stabilization, community involvement, fair water distribution, application of water harvesting and water conservation at the community level, application of non- structural solutions, for example pricing of water, to develop water management institutions, public education and awareness are essential. Selection of appropriate low cost technology is a pre-requisite for widespread project implementation, planner should consider both traditional and modern technologies. The price of water determines largely the investments justified to avoid water losses. (author)

Impacts of a reoriented energy conservation policy on the environment and the economy. Auswirkungen verstaerkter Massnahmen zum rationellen Energieeinsatz auf Umwelt, Beschaeftigung und Einkommen

Energy Technology Data Exchange (ETDEWEB)

Garnreiter, F; Jochem, G; Gruber, E; Hohmeyer, O; Mannsbart, W; Mentzel, T

1983-01-01

In view of the small growth rates of the gross national product, the high unemployment rates and the increasing environmental production we have to investigate whether there are environmentally harmless growth areas and whether they can be activated. The authors of this report chose three examples from the sector energy conservation: additional thermal insulation of buildings, increased district heating and combined heat and power generation, substitution of petrol by diesel as a car fuel. Examples of to show that due to the enormous increases of energy prices in the 70's there is a considerable potential for a more efficient utilization of energy, today already the required investments are paying which means that the profitability of these investments will be further increased if prices continue to rise.

Trading Water Conservation Credits: A Coordinative Approach for Enhanced Urban Water Reliability

Science.gov (United States)

Gonzales, P.; Ajami, N. K.

2016-12-01

Water utilities in arid and semi-arid regions are increasingly relying on water use efficiency and conservation to extend the availability of supplies. Despite spatial and institutional inter-dependency of many service providers, these demand-side management initiatives have traditionally been tackled by individual utilities operating in a silo. In this study, we introduce a new approach to water conservation that addresses regional synergies—a novel system of tradable water conservation credits. Under the proposed approach, utilities have the flexibility to invest in water conservation measures that are appropriate for their specific service area. When utilities have insufficient capacity for local cost-effective measures, they may opt to purchase credits, contributing to fund subsidies for utilities that do have that capacity and can provide the credits, while the region as whole benefits from more reliable water supplies. While similar programs have been used to address water quality concerns, to our knowledge this is one of the first studies proposing tradable credits for incentivizing water conservation. Through mathematical optimization, this study estimates the potential benefits of a trading program and demonstrates the institutional and economic characteristics needed for such a policy to be viable, including a proposed web platform to facilitate transparent regional planning, data-driven decision-making, and enhanced coordination of utilities. We explore the impacts of defining conservation targets tailored to local realities of utilities, setting credit prices, and different policy configurations. We apply these models to the case study of water utility members of the Bay Area Water Supply and Conservation Agency. Preliminary work shows that the diverse characteristics of these utilities present opportunities for the region to achieve conservation goals while maximizing the benefits to individual utilities through more flexible coordinative efforts.

Residential energy efficiency: Progress since 1973 and future potential

Science.gov (United States)

Rosenfeld, Arthur H.

1985-11-01

Today's 85 million U.S. homes use 100 billion of fuel and electricity (1150/home). If their energy intensity (resource energy/ft2) were still frozen at 1973 levels, they would use 18% more. With well-insulated houses, need for space heat is vanishing. Superinsulated Saskatchewan homes spend annually only 270 for space heat, 150 for water heat, and 400 for appliances, yet they cost only 2000±1000 more than conventional new homes. The concept of Cost of Conserved Energy (CCE) is used to rank conservation technologies for existing and new homes and appliances, and to develop supply curves of conserved energy and a least cost scenario. Calculations are calibrated with the BECA and other data bases. By limiting investments in efficiency to those whose CCE is less than current fuel and electricity prices, the potential residential plus commercial energy use in 2000 AD drops to half of that estimated by DOE, and the number of power plants needed drops by 200. For the whole buildings sector, potential savings by 2000 are 8 Mbod (worth 50B/year), at an average CCE of 10/barrel.

The Mutual Investments in Romania - Current Developments and Trends

Directory of Open Access Journals (Sweden)

Florina Oana VIRLANUTA

2013-03-01

Full Text Available Mutual fund industry in Romania has undergone significant growth in recent years in the number of investors and the net assets managed, but still very small compared to other European countries. Capital market development in Romania, the emergence of new investment instruments provides a greater variety of mutual funds investments. Managers decide on the structure of the portfolio by selecting categories of assets in accordance with the rules set out in the Prospectus and according to the degree of risk. In this paper we propose to realize an analysis of mutual investments system in Romania, the progress and their efficiency.

Construction project investment control model based on instant information

Institute of Scientific and Technical Information of China (English)

WANG Xue-tong

2006-01-01

Change of construction conditions always influences project investment by causing the loss of construction work time and extending the duration. To resolve such problem as difficult dynamic control in work construction plan, this article presents a concept of instant optimization by ways of adjustment operation time of each working procedure to minimize investment change. Based on this concept, its mathematical model is established and a strict mathematical justification is performed. An instant optimization model takes advantage of instant information in the construction process to duly complete adjustment of construction; thus we maximize cost efficiency of project investment.

Energy efficiency through energy audit

International Nuclear Information System (INIS)

Esan, A. A.

2000-08-01

through a pilot demonstration energy audit project. External technical assistance from UNIDO is to provide expertise from energy efficiency programs undertaken in OECD country industries. The experience from textile industries shows that energy auditing can reduce specific energy consumption by about thirteen percent (13%) from entrepreneurial point of view, it is a profitable venture since its pay back is usually much shorter than anticipated (one year). From macro economical point of view, energy conservation reached through energy audits helps, inter alia, to postpone the necessity to construct new energy generating capacities which require extensive financial investments. Equally important benefit is the environmental protection. More efficient energy use means lower emissions of pollutants such as CO 2 , SO 2 , NO x and fly ash generated by fuel burning

Potential for energy-conserving capital equipment in UK industries

Energy Technology Data Exchange (ETDEWEB)

Fawkes, S D

1986-01-01

A summary is given of recent research into the potential for energy-conserving capital equipment in UK industries. The research had significant findings regarding the feasibility of achieving low-energy scenarios. It also stressed the importance of site specific factors in inhibiting incremental technical change such as that common in energy-conservation investments, developed a soft systems model of energy-management activities and investigated current progress and management styles in the brewing, malting, distilling and dairy sectors.

Investment risks in the economic system of enterprise

Directory of Open Access Journals (Sweden)

Kuchmenko V.О.

2017-06-01

Full Text Available The purpose of this paper is to conduct the comprehensive analysis of the impact of investment risks on the business entities and the search for effective mechanisms to overcome them or minimize. Any entity that runs business activity or the investment activity at the capital market is at risk because both the company and the individual investor do not have full confidence in regard to the size and period of occurrence of future cash flows associated with the decisions made. Thus, the comprehensive study of the nature of the investment risks of the enterprise and their classification was provided. We clarify the forms of their manifestation and discuss the effective mechanisms to minimize investment risk, which will give the investor the opportunity to obtain the maximum expected profit. An investment process is very complicated to be predicted and always connected with the risk of investment losses. At the stage of the investment project implementation it is necessary to take into consideration the methods of management practices and organization of production to ensure efficient distribution of available material and technical resources, labor resources and financial funds. It is important to understand how to manage investment risk effectively by using appropriate methods and classification required to optimize the process of further managerial decision-making related to risks and to find ways to minimize them.

Internal governance systems and R&D investment: An international comparison.

Directory of Open Access Journals (Sweden)

Zouari-Hadiji Rim

2010-01-01

Full Text Available In the theoretical framework of corporate governance, this article studies the efficiency of the control exerted by the ownership structure and the board of directors on managers for the purpose of privileging investment in R&D. This efficiency is sensitive to national systems of governance. Tests realized on a sample of 531 U.S., Japanese and French firms with the canonical method corroborate the existence of positive relationships between concentration of ownership, the internal administrator dominance and the non-dual structure on the one hand, and the investment in R&D, on the other.

Production, process investment and the survival of debt financed startup firms

NARCIS (Netherlands)

Tanrisever, F.; Erzurumlu, S.; Joglekar, N.

2012-01-01

Whether to invest in process development that can reduce the unit cost and thereby raise future profits or to conserve cash and reduce the likelihood of bankruptcy is a key trade-off faced by many startup firms that have taken on debt. We explore this trade-off by examining the production quantity

Entrepreneurial Saving Practices and Business Investment : Theory and Evidence from Tanzanian MSEs

NARCIS (Netherlands)

Beck, T.H.L.; Pamuk, H.; Uras, R.B.

2014-01-01

What is the relationship between entrepreneurs' saving practices and their investment decisions? We present a simply stylized model that shows that entrepreneur's business investment decision depends on the efficiency of her saving practice, in addition to the productivity, liquidity needs, and the

Case history studies of energy conservation improvements in the meat industry

Energy Technology Data Exchange (ETDEWEB)

1982-06-01

Presented are case histories for ten energy-efficient technologies implemented by the meat industry. For each case is presented: the name and location of the plant, name of plant employee contact with address and telephone number, energy consumption and costs at the plant before and after implementation of energy-conserving technology, description of the investment decision process, and changes in production or product quality as a result of the new equipment. The measures presented are: continuous rendering, high-pressure return on the boiler, heat recovery from condensate return and flash steam, continuous whole blood processing, preheating of process water with recovered refrigeration waste heat, continuous rendering of poultry scraps, electrical stimulation of beef, preheating and storing process water with recovered refrigeration waste heat, microcomputer control system, and housekeeping improvements. (LEW)

Economics of soil conservation practices among food crop farmers ...

African Journals Online (AJOL)

... improvement and maintenance of short/medium term productivity of soils. The study recommends that farmers should be encouraged to invest more in structural and agronomic soil conservation practices along side soil productivity maintenance measure. International Journal of Agriculture and Rural Development Vol.

Investment shocks and the relative price of investment

OpenAIRE

Justiniano, Alejandro; Primiceri, Giorgio E.; Tambalotti, Andrea

2009-01-01

We estimate a New-Neoclassical Synthesis model of the business cycle with two investment shocks. The first, an investment-specific technology shock, affects the transformation of consumption into investment goods and is identified with the relative price of investment. The second shock affects the production of installed capital from investment goods or, more broadly, the transformation of savings into future capital input. We find that this shock is the most important driver of U.S. business...

Farmers' Willingness to Adopt Conservation Agriculture: New Evidence from Lebanon.

Science.gov (United States)

Chalak, Ali; Irani, Alexandra; Chaaban, Jad; Bashour, Issam; Seyfert, Karin; Smoot, Kaitlyn; Abebe, Gumataw Kifle

2017-10-01

With increasing food insecurity and climate change, conservation agriculture has emerged as a sustainable alternative to intensive conventional agriculture as a source of food supply. Yet the adoption rate of conservation agriculture is still low. Our paper analyses the factors affecting farmers' willingness to adopt conservation agriculture in Lebanon. The findings show that household characteristics-years of farming and farm size affect conservation agriculture adoption. However, household characteristics alone were insufficient to explain conservation agriculture adoption. We found that farming experience, information sources, frequency of irrigation, and severity of weed infestation in the past, participation in specific trainings, and farmers' perception about the long-term impact of conservation agriculture, were key determinants of conservation agriculture adoption. Our paper encourages policymakers to invest in conservation agriculture to overcome food insecurity and environmental changes affecting food systems in the Middle East. The paper also informs agribusiness firms to view conservation agriculture as a viable alternative to strengthen their business relationship with farmers in arid and semi-arid regions.

Farmers' Willingness to Adopt Conservation Agriculture: New Evidence from Lebanon

Science.gov (United States)

Chalak, Ali; Irani, Alexandra; Chaaban, Jad; Bashour, Issam; Seyfert, Karin; Smoot, Kaitlyn; Abebe, Gumataw Kifle

2017-10-01

With increasing food insecurity and climate change, conservation agriculture has emerged as a sustainable alternative to intensive conventional agriculture as a source of food supply. Yet the adoption rate of conservation agriculture is still low. Our paper analyses the factors affecting farmers' willingness to adopt conservation agriculture in Lebanon. The findings show that household characteristics—years of farming and farm size affect conservation agriculture adoption. However, household characteristics alone were insufficient to explain conservation agriculture adoption. We found that farming experience, information sources, frequency of irrigation, and severity of weed infestation in the past, participation in specific trainings, and farmers' perception about the long-term impact of conservation agriculture, were key determinants of conservation agriculture adoption. Our paper encourages policymakers to invest in conservation agriculture to overcome food insecurity and environmental changes affecting food systems in the Middle East. The paper also informs agribusiness firms to view conservation agriculture as a viable alternative to strengthen their business relationship with farmers in arid and semi-arid regions.

ASSESSMENT OF INVESTMENT APPEAL OF THE ENTERPRISE ON THE BASIS OF THE RATING INDICATOR

Directory of Open Access Journals (Sweden)

Светлана Рахимовна Макуева

2013-09-01

Full Text Available Nowadays, in order to maximize the investing efficiency, every investor should have the ability to value an investment appetite for the investment object in a short time. This article is about the method of analysis based on a rating system, allowing profit-making organizations and banks not only to carry out a comprehensive analysis of the efficiency of economic activities and financial performance of an economic entity, but also to rank multiple entities of certain industry, in compliance with specific goals and objectives. This method considers the interests of both lending agencies and institutional investors, which is a scientific novelty in analysis of investment appetite for the enterprises.DOI: http://dx.doi.org/10.12731/2218-7405-2013-6-36

Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

Energy Technology Data Exchange (ETDEWEB)

NONE

2012-09-06

This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

PROCEL`s, the Brazilian electric power holding company conservation program, revitalization process and electric power conservation achievements in the 2015 plan; O processo de revitalizacao do PROCEL e o alcance das metas de conservacao de energia eletrica no plano 2015

Energy Technology Data Exchange (ETDEWEB)

Santos, Mario Fernando M.; Pimentel Filho, Geraldo; Costa Pinhel, Antonio Carlos da [ELETROBRAS, Rio de Janeiro, RJ (Brazil). PROCEL

1995-12-31

The expected increasing of electric power consumption in Brazil from 1995 to 2005 will require investments in the electric power supply expansion of about US$170 billions. In case electric power conservation procedures may be effectively adopted, there might be a reduction in these investments up to US$34 billions. This work discusses how the revitalization of PROCEL, the Brazilian program of electric power conservation, is being conducted in order to achieve such objective 1 fig., 2 tabs., 4 refs.

Method of estimating investment decisions effectiveness in power engineering

International Nuclear Information System (INIS)

Kamrat, W.

1996-01-01

A new concept of determining efficient power plants investment decision-making is proposed.The results of research on capital expenditures for building and modernization of power plants are presented. The model introduced is based on the well-known Annual Cost Model which is modified by adding annual risk costs. So the formula for annual costs is: K = K f + K v + K r , where: K f are annual fixed costs, K v - annual variables costs, K r -annual risk costs. The annual risk costs can be calculated by the expression: K r = e i x K c , where e i is the investment risk factor, and K c - leveled capital investment. The risk factor was created on the basis of some elements of the taxonometric method with a high level of estimation probability. The essential problem is the selection of risk investment variables, most important of which are economic, financial, technical, social, political, legal. These variables create a multidimensional space. A so called 'ideal' model of the power plant is created taking into account capacity, type, fuel used, etc. The values of the multidimensional risk factor e i lie within limit and make it possible to rank the planned plants in series according to the estimated level of risk. This method can be used not only for risk evaluation in power engineering but also for investment efficiency studies in different industrial branches

Mathematical description of information interaction in investment and construction activities

Directory of Open Access Journals (Sweden)

Sborshchikov Sergey Borisovich

2014-05-01

Full Text Available For effective management of investment and construction activity (ICA there must be a subsystem responsible for information interaction. The article considers the role of information in ICA, as well as the requirements and objectives of the information systems. Data collection, communication and processing, according to the authors, reflect the system running efficiency. Thanks to information security subsystem there is a possibility of measuring the efficiency of resource use and the relations between inputs and outputs of individual elements throughout investment and construction activities. Requirements of modern economic realities, particularly, investment and construction activities dynamics, should be adjusted to the flow of information: creating new connections, terminating the others. Developing the information management system, its structure and composition require consideration and planning. Development planning and management is closely related to the improvement of information links and upgrading the entire system of information security, its structure and functioning.

Optimal portfolio design to reduce climate-related conservation uncertainty in the Prairie Pothole Region.

Science.gov (United States)

Ando, Amy W; Mallory, Mindy L

2012-04-24

Climate change is likely to alter the spatial distributions of species and habitat types but the nature of such change is uncertain. Thus, climate change makes it difficult to implement standard conservation planning paradigms. Previous work has suggested some approaches to cope with such uncertainty but has not harnessed all of the benefits of risk diversification. We adapt Modern Portfolio Theory (MPT) to optimal spatial targeting of conservation activity, using wetland habitat conservation in the Prairie Pothole Region (PPR) as an example. This approach finds the allocations of conservation activity among subregions of the planning area that maximize the expected conservation returns for a given level of uncertainty or minimize uncertainty for a given expected level of returns. We find that using MPT instead of simple diversification in the PPR can achieve a value of the conservation objective per dollar spent that is 15% higher for the same level of risk. MPT-based portfolios can also have 21% less uncertainty over benefits or 6% greater expected benefits than the current portfolio of PPR conservation. Total benefits from conservation investment are higher if returns are defined in terms of benefit-cost ratios rather than benefits alone. MPT-guided diversification can work to reduce the climate-change-induced uncertainty of future ecosystem-service benefits from many land policy and investment initiatives, especially when outcomes are negatively correlated between subregions of a planning area.

Investment Process in Territorial Government Sectors

Directory of Open Access Journals (Sweden)

Cleopatra Sendroiu

2006-10-01

Full Text Available The increase in the quality of the public administration act represents one of the major targets for the local authorities. From this point of view, the identification and implementation in the current practice of some methods, techniques and advanced working tools might have a significant impact.The investments’ programme as a tool accessible to local public authorities gains an increased legitimacy on the grounds of its civic consent; therefore, the external investors and other potential investors can take advantage of the community’s support in those projects they finance within region.The current framework of the investment activity in the local public sector is characterized by constraints within action, sometimes without continuity or precise targets. The declared urgency of a certain investment objective mostly turns out to be the selection and implementation criterion. In this present work there will be presented a few methods and ways in which town halls can realize public investments in the near future. The adoption of a specific proposal might lead to procedural and organizational modifications for the attainment of the maximum efficiency within the investment process.

The Social Investment in Social Capital

Directory of Open Access Journals (Sweden)

Gritsaenko Galina I.

2018-01-01

Full Text Available The article is aimed at defining the essence of social investment, substantiating the levels of their implementation, and identifying the mechanisms of influence on social capital. The dynamics of the level of trust in the Ukrainian society is analyzed, on the basis of which the conclusion about the crisis of complete personal and institutional distrust, as well as the necessity of systematic work on the formation of social capital, has been made. The essence of social investments as such, which are directed on development of objects of social environment, including human and social capitals, has been defined. It has been suggested to study social investment on the nano-, micro-, meso-, macro- and mega-levels. The relevant investors and beneficiaries, as well as possible directions of their activity activation, are considered. Prospect for further scientific researches should be development of mechanism for efficient interaction of international organizations, governmental structures, representatives of business and civil society as a whole with the purpose of formation of strategy of social investment, which would facilitate the implementation of structural reforms and ensure the sustainable development of Ukraine.

Travelling energy systems: knowledge transfer for energy efficiency and conservation from European to Australian building projects

Energy Technology Data Exchange (ETDEWEB)

Glad, Wiktoria (Tema Technology and Social Change, Linkoeping Univ. (Sweden); Inst. for Sustainable Futures, Univ. of Technology, Sydney (Australia))

2009-07-01

Energy efficiency and conservation in the Australian built environment have not yet been implemented to any great extent. Despite favourable prerequisites, such as vast windswept unpopulated areas suitable for wind power and many hours of direct sunlight in most populated areas, electricity is mainly generated by burning brown coal and buildings are poorly equipped for hot summers and cool winters. Australia urgently needs to convert to alternative energy sources and implement energy efficiency measures, since its carbon dioxide emissions per capita are among the highest in the world. In a recent major redevelopment in Sydney, the Carlton and United Brewery (CUB) site knowledge of energy efficiency and conservation measures used in European buildings was transferred and implemented in local designs and infrastructure. This knowledge came mainly from urban planning and developments in London, but also from high-profile architectural firms based in Paris and Germany. The arrival of this knowledge in Australia led to phases when the knowledge was translated and enacted in local spaces and the constituent ideas were transformed into action. The present research is based on ten months of ethnographic fieldwork in which the planning and design of the CUB site was observed. The results of the study identify barriers to and opportunities for energy system knowledge transfer between different cultures and local spaces. Substantial time must be spent overcoming cultural barriers, so the involved parties can start talking the same language. This is not only true for stakeholders operating in different continents, but for stakeholders operating in different local arenas in the same country.

Energy conservation efforts in Indian mining industry - an overview

International Nuclear Information System (INIS)

Pradhan, G.K.; Chattoraj, P.

2010-01-01

Conservation of energy is a national agenda as had been set by our Prime Minister at various fora, in the case of coal mining also there is ample scope to reduce specific energy conservation. The issue can be resolved through 'energy audit' so as to identify the areas of improvement, technology to introduce and innovative system to adopt. In a nutshell it can be concluded that, through energy audit, we can immediately save 10-15 % of energy without any major investment

Barriers to the adoption of energy-conserving technologies in the textile industry

Energy Technology Data Exchange (ETDEWEB)

Evans, A.R.; Zussman, S.K.

1979-09-01

An overview of the textile industry and a discussion of energy-conserving technologies currently available at the pilot-demonstration stage are presented. Existing and potential barriers to the adoption of these technologies in the textile industry identified are: economic; technical acceptance; conflict between commitments of capital for compliance with environmental and health regulations and for investment in energy conservation measures; and a lack of information and technical expertise. Possible measures to eliminate barriers to the implementation of energy-conserving technologies are discussed. (MCW)

Energy Efficiency and Conservation Block Grant (EECBG) - Better Buildings Neighborhood Program at Greater Cincinnati Energy Alliance: Home Performance with Energy Star® and Better Buildings Performance

Energy Technology Data Exchange (ETDEWEB)

Holzhauser, Andy; Jones, Chris; Faust, Jeremy; Meyer, Chris; Van Divender, Lisa

2013-12-30

The Greater Cincinnati Energy Alliance (Energy Alliance) is a nonprofit economic development agency dedicated to helping Greater Cincinnati and Northern Kentucky communities reduce energy consumption. The Energy Alliance has launched programs to educate homeowners, commercial property owners, and nonprofit organizations about energy efficiency opportunities they can use to drive energy use reductions and financial savings, while extending significant focus to creating/retaining jobs through these programs. The mission of the Energy Alliance is based on the premise that investment in energy efficiency can lead to transformative economic development in a region. With support from seven municipalities, the Energy Alliance began operation in early 2010 and has been among the fastest growing nonprofit organizations in the Greater Cincinnati/Northern Kentucky area. The Energy Alliance offers two programs endorsed by the Department of Energy: the Home Performance with ENERGY STAR® Program for homeowners and the Better Buildings Performance Program for commercial entities. Both programs couple expert guidance, project management, and education in energy efficiency best practices with incentives and innovative energy efficiency financing to help building owners effectively invest in the energy efficiency, comfort, health, longevity, and environmental impact of their residential or commercial buildings. The Energy Alliance has raised over $23 million of public and private capital to build a robust market for energy efficiency investment. Of the $23 million, $17 million was a direct grant from the Department of Energy Better Buildings Neighborhood Program (BBNP). The organization’s investments in energy efficiency projects in the residential and commercial sector have led to well over $50 million in direct economic activity and created over 375,000 hours of labor created or retained. In addition, over 250 workers have been trained through the Building Performance Training

Does a Board Chairman’s Political Connection Affect Green Investment?—From a Sustainable Perspective

Directory of Open Access Journals (Sweden)

Kai Wang

2018-02-01

Full Text Available Using a sample consisting of China’s listed manufacturing companies which issue A-shares on the Shenzhen and Shanghai stock exchanges from 2008–2014, this study empirically tests the relationship between board chairman’s political connections and the amount of energy conservation and emission reduction investment. The results show that the existence of politically-connected board chairmen positively affects green investment. In addition, marketization degrees negatively moderate the relationship between political connection and green investment, which supports an institutional logic perspective. The amount of redundant resources also has the same moderating effect, which is consistent with the resource exchange perspective.

Environmental assessment and investment strategies of provincial industrial sector in China — Analysis based on DEA model

Energy Technology Data Exchange (ETDEWEB)

Wang, Juan, E-mail: wangjuan_tju@163.com [College of Management and Economics, Tianjin University, Tianjin 300072 (China); Zhao, Tao [College of Management and Economics, Tianjin University, Tianjin 300072 (China); Zhang, Xiaohu [College of Civil Aviation, Nanjing University of Aeronautics and Astronautics, Nanjing, Jiangsu, 210016 (China)

2016-09-15

As an energy-intensive industry, the industrial sector consumes 70% of energy consumption and causes serious environmental pollution in China. Also, the government emphasized the promotion of R&D investment in the industrial sector in China's National Plan on Climate Change (2014–2020). It is meaningful and contributes to assessing energy and environmental performance, as well as R&D and industrial pollution control (IPC) investment strategies of China's industrial sector. A non-radial DEA model, as with natural and managerial disposability, was adopted to evaluate this from provincial and regional perspectives during the 2008–2012 period. Energy and environmental performance was evaluated by unified efficiency under natural disposability (UEN), unified efficiency under managerial disposability (UEM), and unified efficiency under natural and managerial disposability (UENM). The empirical results indicated that Shandong and Hainan were efficient under natural and managerial disposability, while other provinces had the potential to improve their energy and environmental performance. The number of provinces that was fit for investments of R&D and IPC increased from 2008 to 2010, then decreased in 2011 and 2012. In spite of this, many provincial industrial sectors should make efforts to reduce pollution by investment on technology. Tianjin, Heilongjiang, Jiangxi and Henan were especially the best investment objects because investments of R&D and IPC turned to be effective for them during the whole study period. Moreover, western China had the highest average UENM, followed by eastern China and central China. Eastern China and central China were rewarding to expand investments. Coal consumption was the main factor to negatively affect unified efficiency whereas the increase in economic development level was primarily responsible for the improvement of unified efficiency. According to the results, differentiated suggestions to further improve energy and

Environmental assessment and investment strategies of provincial industrial sector in China — Analysis based on DEA model

International Nuclear Information System (INIS)

Wang, Juan; Zhao, Tao; Zhang, Xiaohu

2016-01-01

As an energy-intensive industry, the industrial sector consumes 70% of energy consumption and causes serious environmental pollution in China. Also, the government emphasized the promotion of R&D investment in the industrial sector in China's National Plan on Climate Change (2014–2020). It is meaningful and contributes to assessing energy and environmental performance, as well as R&D and industrial pollution control (IPC) investment strategies of China's industrial sector. A non-radial DEA model, as with natural and managerial disposability, was adopted to evaluate this from provincial and regional perspectives during the 2008–2012 period. Energy and environmental performance was evaluated by unified efficiency under natural disposability (UEN), unified efficiency under managerial disposability (UEM), and unified efficiency under natural and managerial disposability (UENM). The empirical results indicated that Shandong and Hainan were efficient under natural and managerial disposability, while other provinces had the potential to improve their energy and environmental performance. The number of provinces that was fit for investments of R&D and IPC increased from 2008 to 2010, then decreased in 2011 and 2012. In spite of this, many provincial industrial sectors should make efforts to reduce pollution by investment on technology. Tianjin, Heilongjiang, Jiangxi and Henan were especially the best investment objects because investments of R&D and IPC turned to be effective for them during the whole study period. Moreover, western China had the highest average UENM, followed by eastern China and central China. Eastern China and central China were rewarding to expand investments. Coal consumption was the main factor to negatively affect unified efficiency whereas the increase in economic development level was primarily responsible for the improvement of unified efficiency. According to the results, differentiated suggestions to further improve energy and environmental

The impact of regulation, privatization and competition on gas infrastructure investments

International Nuclear Information System (INIS)

Andrade, Tiago

2014-01-01

In recent years we have witnessed several reforms in network industries, as privatization, regulatory changes and opening to competition in certain segments of the value chain. In sectors such as electricity and gas, this opening to competition is possible only in certain activities (i.e. generation, storage of natural gas and supply), maintaining as a natural monopoly the activities of distribution and transmission, and therefore still subject to regulation. The performance of these regulated segments can have important effects on the operation of the competitive segments, because the regulated segments (i.e. the transmission and distribution networks) provide the infrastructure platform upon which the competitive activities rely. The motivation of this paper is to evaluate the effects of privatization, liberalization and regulation on investments, as components of the reform of the natural gas sector. An empirical analysis was carried out using a panel data of 11 European countries from 2001 to 2011, with the aim to better understand the determinants influencing investment, thus contributing to a better understanding of the dynamics of this sector and meet the investments needs established by energy policies. - Highlights: • We carried out an empirical analysis using a panel data of 11 European TSO's from 2001 to 2011. • Privatization has a significant impact on investments, “more privatization means less investment”. • Different forms of regulation seem to play an important role in transmission investment. • It was found that incentive regulation has a positive impact leading to a higher investment more than rate of return. • Efficiency is an effective driver to increased investment. TSO's “only” invests if they have good operational efficiency