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1、Financing Municipal Energy Efficiency ProjectsTABLE OF CONTENTSEXECUTIVE SUMMARY 1FINANCING MUNICIPAL ENERGY EFFICIENCY PROJECTS 5 The Opportunities 5Barriers and Challenges to Financing Energy Efficiency 6 Limitations on Municipal Funding 8 Access to Commercial Financing 8 Solutions 9PART I: APPLIC
2、ABILITY OF THE FINANCING MECHANISMS TO ENERGY EFFICIENCY OPTIONS 13Revolving Energy Efficiency Funds 14 Credit or Risk Guarantees 16 Public-Private Partnerships 17 Energy Savings Performance Contracts 18 Donor Funding 19 Carbon Financing 20PART II: SELECTING A FINANCING MECHANISM 21 Effect of Munici
3、pal Characteristics on Selection of Financing Mechanism 22 Pre-requisites for Financing of Municipal EE Projects 23 Pre-requisites for Commercial Financing 23Selecting Financing Mechanisms for Specific Situations 24CONCLUSION 29ENDNOTES 30REFERENCES 30ACRONYMS AND ABBREVIATIONS 30Financing Municipal
4、 Energy Efficiency ProjectsiEXECUTIVE SUMMARYImproving the energy efficiency ( EE) of municipally owned buildings, such as schools and hospitals, and municipal infrastructure, such as public lighting, water supply, and district heating, offers budgetary savings on energy bills and a wide range of en
5、vironmental and socioeconomic benefits. But relatively few municipal EE projects have been developed and implemented successfully. The challenges that limit EE investments in municipal buildings and facilities can be grouped into three broad areas: ( i) a lack of awareness and incentives; ( ii) insu
6、fficient implementation capacity; and ( iii) limited access to financing. All three sets of challenges need to be addressed to scale up successful implementation of municipal EE projects. This Guidance Note focuses on the key issues faced by municipalities in accessing financing for EE investments,
7、particularly for projects in the following four areas:1 | Indoor lighting. This includes replacing existing inefficient lamps and fixtures with effi cient lamps ( T-5 lamps, compact fluorescent lamps or CFLs, light-emitting diodes or LEDs) and luminaires. 2 | Building retrofits. This includes instal
8、ling insulation, efficient windows, efficient boilers and chillers, and energy management systems.3 | Public lighting. This includes replacing mercury vapor lamps with high-pressure sodium or LED lamps and installing lighting controls.4 | Municipal utilities. This includes reducing losses in distric
9、t heating and water-supply systems, installing efficient pumps, and optimizing systems.The Guidance Note discusses the following potential financing mechanisms that can be used by municipalities to finance EE measures:Budget financing. This includes direct financing from municipal budgets, the use o
10、f external grants, and the use of budget-capture mechanisms.Funds developed specifically to address energy efficiency. This involves revolving funds that, once established from the general budget or donor funds, can become self-sustaining.Public support to leverage commercial financing. This include
11、s public sector financing mechanismsprovided by donors and/or national or regional governments to municipalitiesthat can help support or leverage commercial financing.Commercial financing. This involves loans from commercial banks or funds raised by the issuance of municipal bonds.The range of finan
12、cing mechanisms available to a municipality depends on many factors, such as its financial strength and creditworthiness, the predictability of revenues and budget transfers, the local legal and regulatory framework, the commercial financing environment, the nature of the EE project, implementation
13、capacity, and the available delivery mechanisms. Most of these factors are influenced by the size of a municipality, with large municipalities facing different challenges than smaller ones. This Guidance Note contains summaries of illustrative case studies that can help policy-makers understand the
14、characteristics of various financing options and identify which are most viable in any given situation. A more complete set of case studies in the full background report to this note is available to help identify and develop specific financing mechanisms.Executive Summary1The long-term goal is to in
15、crease commercial financing for municipal EE projects; but this requires enhancing the creditworthiness of municipalities and increasing their borrowing capacities. The table below provides an illustration of the energy efficiency options and related financing mechanisms.Illustrative Municipal Energ
16、y Efficiency Projects and Related Financing OptionsProject CharacteristicsPotential Financing Options for MunicipalitiesType of MeasureExamplesTechnical ComplexityInvestment NeedsPaybacksWeak Credit, Limited Borrowing CapacityStrong Credit, Ample Borrowing CapacityIndoor LightingT-5 lamps, CFLs, LEDs, Efficient LuminairesLowMediumShortBudget Financing, EE FundsBudget Financing, EE Funds, Public Support, Commercial FinancingBuilding Retrof
