ESCo Definitionen, Konzepte, Erfolgsfaktoren und ... - Biosolesco

Juni 2011
ESCo Definitionen, Konzepte,
Erfolgsfaktoren und Hürden
Geschrieben von
Argyro Giakoumi (agiak@cres.gr) , CRES, Griechenland
Giorgos Markogiannakis (gmarko@cres.gr), CRES, Griechenland
Mit Beiträgen von
Kaija Saramäki, Simo Paukkunen und Allard Vermeulen, NKUAS, Finnland, Simon A. Booth,
UREADSE, England, Sabine Putz, SOLID, Österreich, Nikolay Vangelov, ERATO, Bulgarien,
Veljko Vorkapic, EIHP, Kroatien, Hrvoje Hucika, HEP ESCo, Kroatien, Philippa Hughes, TVE,
England, Wolfgang Hiegl, WIP, Deutschland, Antonio Pantaleo, Chiara Candelise und Alessandro
Leucci, MedEnerg, Italien, Mauro Bertini, CS, Italien, Paola Miglietta, UNI, Italien
1

Das Projekt BIOSOLESCo beschäftigt sich mit Wärme-Contracting als innovativem Ansatz zur
Bereitstellung von Wärme aus Biomasse und/oder Solarenergie. BIOSOLESCo wird unterstützt von
der Europäische Kommission durch das IEE Programm (Vertragsnummer IEE/07/264).
Die Verantwortung für den Inhalt dieses Berichtes liegt bei den Autoren. Er gibt nicht die Meinung
der Europäischen Gemeinschaft wieder. Die Europäische Kommission übernimmt keine
Verantwortung für jegliche Verwendung der darin enthaltenen Informationen.
2

Inhaltsverzeichnis
Abkürzungsverzeichnis ........................................................................................................... 4
1 Einleitung .......................................................................................................................... 5
2 Definitionen....................................................................................................................... 7
3 Nationaler Hintergrund ................................................................................................. 10
3.1 Legislativ-, Finanz-, Vertrags-und Marketing-Rahmen ........................................... 10
3.1.1 Rechtlicher Hintergrund für TPF und ESCos ..................................................... 10
3.1.2 Bestehende Verträge ........................................................................................... 14
3.1.3 Finanzinstitute und Schemen .............................................................................. 17
3.2 Technische Rahmenbedingungen .......................................................................... 24
3.2.1 Qualität und Monitoring...................................................................................... 24
3.2.2 Geeignete Technologien für BioSolESCos ......................................................... 27
3.2.3 Verfügbare Softwarewerkzeuge .......................................................................... 28
3.3 Gesammelte Erfahrungen - Lessons learned ......................................................... 30
Referenzen .............................................................................................................................. 31
3

Abkürzungsverzeichnis
BioSolESCo Biomasse und/oder Solar ESCo
CA ESD Concerted Action for the Energy Services Directive
CDM Clean Development Mechanism
ECM Energy Conservation Measures
EPBD Energy Performance Building Directive
EPC Energy Performance Contracting
ESCo Energy Saving Company
ESD Energy Service Directive
EU European Union
IEE Intelligent Energy Europe
JI Joint Implementation
M&V Monitoring and Verification
NKUAS North Karelia University of Applied Sciences
NTA Netherlands Technical Agreements
PPPs Public Private Partnerships
RES Renewable Energy Sources
RETs Renewable-energy and Energy-efficient Technologies
ST-ESCos Solar Thermal Energy Service Companies
TPF Third Party Financing
VAT Value Added Tax
WhCs White Certificates
4

1 Einleitung
Die Europäische Union braucht Verbesserungen bei der Energieeffizienz, der Steuerung der
Energienachfrage, in der Förderung erneuerbarer Energien sowie der Reduzierung von
Treibhausgasemissionen. Um diese Probleme anzugehen, setzt sich die Klima- und Energiepolitik
der EU drei ambitionierte Ziele für 2020. Das erste Ziel ist die Verminderung der
Treibhausgasemissionen um mindestens 20% (Basisjahr 1990), das Zweite ist die Erhöhung der
Nutzung erneuerbarer Energiequellen auf 20% der gesamten Energieproduktion und das dritte Ziel
ist die Reduzierung des Energieverbrauchs um 20% des für 2020 prognostizierten Levels durch die
Verbesserung der Energieeffizienz [26].
2006 verabschiedete die Europäische Kommission einen Aktionsplan zur Energieeffizienz, welcher
Richtlinien und Maßnahmen enthält, um den jährlichen Primärenergieverbrauch in der EU bis 2020
um wenigstens 20% zu senken. Der Aktionsplan empfiehlt zudem 10 vorrangige Maßnahmen, die
zum Erreichen des angestrebten Einsparungspotentials sofort initiiert werden sollten. Diese
vorrangigen Maßnahmen decken alle Bereiche ab, in denen Energieeffizienzmaßnahmen umgesetzt
werden können, wie z.B. bei Geräten, Gebäuden, in der Energieerzeugung und Verteilung, bei der
Effizienz von Fahrzeugen. Zudem sieht der Aktionsplan Unterstützungsmaßnahmen zur
Erleichterung der Finanzierung von Energieeffizienzmaßnahmen für kleine und mittlere
Unternehmen sowie für Energiedienstleistungsunternehmen (Energy Service Companies; ESCos)
vor. Speziell im Bereich der Finanzierung von Energieeffizienzprojekten schlägt der Aktionsplan
die Erarbeitung von Vertragskonzepten und die Identifizierung und Beseitigung von Barrieren vor,
um die Entwicklung des Marktes für Energiedienstleistungen in den Mitgliedsstaaten zu fördern [2].
Ebenfalls 2006 verabschiedete die Kommission einen “Fahrplan für erneuerbare Energiequellen”
zur Förderung der Erzeugung erneuerbarer Energien und 2008 einen zu den Chancen Europas im
Klimawandel, wobei in beiden Dokumenten die Notwendigkeit einer Erhöhung der Nutzung
erneuerbarer Energiequellen auf 20% der gesamten Energieproduktion bis 2020 dargelegt wird.
Neben den zuvor genannten Dokumenten, welche die Rahmenbedingungen der EU Politik
beschreiben, gibt es auch spezifische Direktiven mit konkreten Empfehlungen. Die Direktive zu
Energiedienstleistungen ("Energy Service Directive", ESD (2006/32/EC)) zusammen mit der
Direktive über die Energieeffizienz von Gebäuden (Energy Performance Buildings Directive,
EPBD (2002/91/EC) forcieren den Markt hin zu Energieeffizienzprojekten. Theoretisch sollte die
Umsetzung dieser beiden Direktiven die weitere Entwicklung des ESCo Marktes erlauben.
Zusammen mit der Direktive zur Förderung erneuerbarer Energien (2009/28/EC) ist der Markt stark
hin zu erneuerbaren Energiequellen orientiert, nicht nur in der Stromerzeugung sondern auch bei
der Bereitstellung von Wärme und Kühlung. Insofern gibt es gute Gründe für ESCo Projekte zur
Bereitstellung von Wärme aus erneuerbaren Energiequellen (Biomasse und Solarthermie).
Dieser Bericht fasst die Informationen zum Status des ESCo Marktes in der EU (27 Länder plus
Kroatien) mit speziellem Fokus auf Biomasse und/oder Solarthermie zusammen. Die
zusammengetragenen Informationen stammen aus öffentlichen Quellen und Publikationen, früheren
oder aktuellen EU Projekten sowie aus Gesprächen mit Experten. Für jedes Land wurden
gesetzliche, finanzielle, vertragliche, und technische Rahmenbedingungen des ESCo- und speziell
des BioSolESCo-Marktes untersucht.
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Im Speziellen wurden für jedes Land Informationen zur rechtlichen Grundlage der ESCos und
Drittfinanzierungen (third-party Finanzierungen, TPF) sowie Informationen zu bereits existierenden
Vertragsvereinbarungen und Finanzinstrumenten gesammelt. Zusätzlich sind vorhandene Barrieren
beschrieben, die eine Bildung bzw. Weiterentwicklung des BioSolESCo Markts behindern.
Außerdem sind die bisherige Erfahrungen der Ländern zusammengetragen, die einen gut
entwickelten ESCo Markt und eine Erfolgsbilanz an BioSolESCo Projekten aufweisen.
Fasst man die Ergebnisse der Recherche verschiedener Länder zusammen, so kann postuliert
werden, dass in vielen europäischen Ländern ESCo Projekte, die solarthermische und/oder
Biomasse Systeme beinhalten eingeführt wurden, diese aber Unterschiede in Vertragstypen und
Technologien (Solar und Biomasse) aufweisen. Deutschland gehört zu den best entwickelten ESCo
Märkten in Europa, hat jedoch z.B. sehr wenige Contracting-Projekte welche beides, Biomasse und
solarthermische Technologien vereinen. Ein Grund dafür ist, dass sich die Installation von
solarthermischen Kollektoren oft als finanziell nachteilig herausstellt, trotz öffentlicher Zuschüsse.
Natürlich gibt es eine Vielzahl von Vertragsakteuren die Biomasse-Contracting zusammen mit
fossilen Energieträgern anbieten, während andere auf Biomasse-Contracting spezialisiert sind. In
anderen Ländern, wie Spanien, wo günstige klimatische Bedingungen für solarthermische
Technologien herrschen und der ESCo Markt gut entwickelt ist, sind ESCo Projekte die
Solarsysteme beinhalten verbreiteter. Es gibt jedoch auch Länder, wie Griechenland und Zypern,
die günstige klimatische Bedingungen für solarthermische Technologien haben, jedoch noch keinen
entwickelten ESCo Markt aufweisen. Zentrale und nordeuropäische Länder haben mehr
Erfahrungen mit Projekten, die Biomasse Heizsysteme realisieren. Finnland z.B. ist ein Land mit
einer großen Anzahl an Biomasse ESCo-ähnlichen Projekten.
In allen Ländern gibt es Barrieren, die die Entwicklung des ESCo Markts erschweren. Diese
Hindernisse sind vielschichtig, am weitesten verbreitet sind jedoch: administrative Barrieren zur
Einführung von ESCo Projekten in den öffentlichen Sektor, Unkenntnis auf der Nachfrageseite aber
auch bei Finanzinstitutionen, ein Mangel an wirtschaftlich bestandsfähigen Finanzierungen, unklare
gesetzliche Texte die Unsicherheit erzeugen und technische Probleme, wie der Mangel an
Vertrauen in spezialisierte Technologiesysteme. Einige der Barrieren sind in allen Ländern
gemeinschaftlich zu finden, während sich andere aus den spezifischen Konditionen eines Landes
ergeben.
Analytische Informationen für jedes Land sind im Anhang I dieses Berichtes zu finden. Es ist zu
erwähnen. dass die erste Version dieses Berichtes im Januar 2010, eine überarbeitete Version
jedoch gegen Ende des Projektes (März 2011) entstand, um aktuelle Änderungen der
Mitgliedsstaaten zu erfassen.
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2 Definitionen
Ein Energiedienstleistungsunternehmen (Energy Service Company, ESCo) ist ein professionelles
Unternehmen, welches Verbrauchern durch ein breites Spektrum an Energiedienstleistungen die
Möglichkeit eröffnet, ihren Energieverbrauch und die damit vebundenen Kosten zu senken. Diese
umfassende Energiedienstleistung beinhaltet möglicherweise auch Energieanalysen und Audits,
Energiemanagement, Projektdesign und Einführung, Betrieb und Wartung, Energieerzeugung und
Versorgung, Überwachung und Evaluierung sowie Gebäude- und Risikomanagement.
Um ein Unternehmen als ESCo zu bezeichnen und dieses von anderen Unternehmen zu
unterscheiden, die möglicherweise ebenfalls eine der oben genannten Energiedienstleistungen
anbieten (wie z.B. Consultingfirmen, Energieanbieter, Gerätehersteller), muss dieses einige
zusätzliche Besonderheiten neben der reinen Energiedienstleistung aufweisen. Diese zusätzlichen
Merkmale wurden 2005 im Bericht über ESCos von Paolo Bertoldi & Silvia Rezessy beschrieben
[17] und sind folgende:
• ESCos garantieren Energieeinsparungen und/oder Provisionen auf gleichem Level wie
kostengünstigere Energiedienstleister. Eine Leistungsgarantie kann in unterschiedlicher
Form erfolgen. Sie kann der tatsächlichen Energieeinsparung eines Projektes entsprechen
oder kann festsetzen, dass die Energieeinsparungen ausreichen werden um die monatlichen
Schuldendienstkosten zurückzuzahlen oder um das gleiche Level an Energiedienstleistung
auch für weniger Geld anbieten zu können;
• Die Vergütung der ESCos ist direkt an die erreichte Energieeinsparung gebunden;
• ESCos können den Betrieb von Energiesystemen finanzieren oder Finanzierungen durch
Einsparungsgarantien unterstützen;
• ESCos behalten eine führende Rolle in der Messung und Überprüfung der Einsparungen
über die Laufzeit der Finanzierung.
ESCos sind zusammen mit Energieleistungsverträgen (energy performance contracting, EPC) und
Drittfinanzierungen (third-party Finanzierungen, TPF) als Hauptinstrumente und verfügbare
Mechanismen zum Erreichen der Energieeffizienz und des generellen nationalen
Energieeinsparrichtwert von 9% (für das neunte Jahr der Anwendung dieser Richtlinie) auch in der
Richtlinie über Energiedienstleistungen (Energy Service Directive, ESD; 2006/32/EC) beschrieben.
Die Definitionen, die in der Richtlinie über Energiedienstleistungen für ESCo, EPC und TPF
genutzt werden, sind unten angegeben:
Energiedienstleistungsunternehmen (Energy Service Company, ESCo): eine natürliche oder
eine juristische Person, die Energiedienstleistungen und/oder andere Energieeffizienzmaßnahmen in
den Einrichtungen und Räumlichkeiten eines Verbrauchers erbringt bzw. durchführt und dabei in
gewissem Umfang finanzielle Risiken trägt. Das Entgelt für die erbrachten Dienstleistungen richtet
sich (ganz oder teilweise) nach der Erzielung von Energieeffizienzverbesserungen und der
Erfüllung der anderen vereinbarten Leistungskriterien;
Energieleistungsverträge (Energy Performance Contracting, EPC): eine vertragliche Regelung
zwischen dem Nutzer und dem Erbringer (normalerweise einem Energiedienstleister (ESCo)) einer
Energieeffizienzmaßnahme, wobei die Erstattung der Kosten der Investitionen in eine derartige
Maßnahme im Verhältnis zu dem vertraglich vereinbarten Umfang der Energieeffizienzverbesserung
erfolgt;
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Drittfinanzierung (Third-Party Financing, TPF): eine vertragliche Vereinbarung, an der neben
dem Energielieferanten und dem Nutzer einer Energieeffizienzmaßnahme ein Dritter beteiligt ist,
der die Finanzmittel für diese Maßnahme bereitstellt und dem Nutzer eine Gebühr berechnet, die
einem Teil der durch die Energieeffizienzmaßnahme erzielten Energieeinsparungen entspricht.
Dieser Dritter kann aber muss kein ESCo sein.
Zusätzlich werden in diesem Bericht folgende Begriffe verwendet:
BioSolESCo: Als ein BioSolESCo kann ein ESCo bezeichnet werden, das Projekte auf dem Gebiet
der Biomasse und/oder Solar Technologie durchführt. Das Projekt beinhaltet möglicherweise
Energieeffizienzmaßnahmen um höhere Einsparungen zu erzielen und wird dadurch wirtschaftlich
noch attraktiver. Einige sind reine Biomasse und /oder Solar ESCo Projekte. In den meisten Fällen
sind die Projekte Energielieferverträge, welche als ESCo Projekte bezeichnet werden können.
Eine andere Definition, die als ESCo Tätigkeit angesehen werden kann ist:
Wärmeversorgungsunternehmen
In Finnland ist das Wärme Unternehmertum die vorherrschende Form um Kunden mit Wärme zu
versorgen, wobei einer oder mehrere Kunden durch einen Unternehmer, einer Unternehmergruppe
oder einer Kooperative versorgt wird/werden. Die Wärme wird am häufigsten durch Waldbiomasse
erzeugt, wie z.B. durch Pellets oder Hackschnitzel. Das Geschäftsmodell der
Wärmeversorgungsunternehmen variiert und hat verschiedene Formen. In Finnland gibt es
gegenwärtig (2009) ca. 380 Heizwerke, die von Wärmeunternehmern betrieben werden.
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Zusätzlich werden im Report folgende Begriffe verwendet:
BioSolESCo:
Als BioSolESCo kann ein Energiedienstleister definiert werden, welcher Projekte im Bereich
Biomasse und/oder Solaranlagen durchführt. Um das Projekt wirtschaftlicher zu machen kann das
Projekt auch Energieeffizienz Maßnahmen zur Energieeinsparung beinhalten. Nur wenige Projekte
sind reine Biomasse und/oder Solar Contracting Modelle. In den meisten Fällen sind die Projekte
auf Energie-Lieferverträge aufgebaut, welche dann als ESCo bezeichnet werden kann.
Andere Definitionen welche als ESCo bezeichnet werden können sind:
Wärmelieferungsunternehmen
Wärmelieferungsunternehmen ist die dominierende Form der Einzelpersonenunternehmen, welche
Wärme an die Kunden liefert. Wärmelieferungsunternehmen in weiterst verbreiteten Form sind ein
Unternehmer, mehre Unternehmer oder Genossenschaft, welche einen oder mehrere Kunden mittels
Fernwärme versorgen. Die Wärme wird meistens aus forstlicher Biomasse, wie zum Beispiel Pellets
oder Hackschnitzel erzeugt. Das verwendete Geschäftsmodell der verschiedenen
Wärmelieferunternehmen variiert und hat verschiedene Formen. Zu Zeit (2009) werden ungefähr
380 Heizwerke von Wärmelieferungsunternehmen in Finnland betrieben.
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3 Nationaler Hintergrund
In diesen Abschnitt wird ein Überblick über den Hintergrund des ESCo und im speziellen von
BioSolESCo Markt in den 27 EU Mitgliedsländern gegeben. Insbesondere Informationen über
den legislativen, finanziellen und vertraglichen Rahmenbedingungen vorgestellt und die
wichtigsten technischen und nicht technischen Barrieren zur Entwicklung der BioSolESCo
Ansätze skizziert. Analytische Informationen separat für jedes Land finden Sie am Ende dieses
Berichts in Anhang I.
3.1 Legislativ-, Finanz-, Vertrags-und Marketing-Rahmen
3.1.1 Rechtlicher Hintergrund für TPF und ESCos
Eine allgemeine Überprüfung der ESCO-Märkte in den Mitgliedstaaten der Europäischen Union
zeigt, dass eine Vielfalt unterschiedlicher Modelle unter den Ländern vorhanden ist, in dem, was
der Contracting-Markt Entwicklung, Struktur und Regeln betrifft. In einigen Ländern (z.B.: UK, IE,
GR, FI, PT) gibt es bis jetzt keine ausgeprägtes rechtliches Format für Energiedienstleister, und die
Struktur kann in jeder anerkannten Form des lokalen Rechts ausgeführt sein. Auch gibt es keine
besonderen Vorschriften über die Bereitstellung von privatem Kapital der Energiedienstleistern, mit
Ausnahme derjenigen, der Kreditaufnahme und Verträge welche generell gültig sind. Zum Beispiel
in Großbritannien und Irland, wo in diesem Fall der Vorschlag gilt, dass private GmbH die am
besten geeignete Rechtsform für die meisten Energiedienstleister sein, da es die flexibelste ist.
Mittels der EU Energiedienstleistungsrichtlinie - EDL (2006/32/EG), die für alle EU-
Mitgliedstaaten im Jahr 2006 hinterlegt wurde, wird erwartet den Mangel an entsprechend
rechtlichen Rahmenbedingungen auf zu heben, und dies zu einer Klärung eines ESCo Betriebes und
somit dem Energiedienstleistungsmarkt in der Entwicklung helfen wird. Die EDL, welche bis Mai
2008 in nationale Recht übernommen werden soll, zielt auf eine kostengünstige Verbesserung der
Energieeffizienz im Endverbrauch durch die Angabe von Zielwerten, Beseitigung von
Marktbarrieren und Stimulation des Energie-Service- Markt ab. Wie im Dezember 2008 berichtet
[16] wurde die EDL in sieben Mitgliedsstatten ins nationale Recht aufgenommen, elf
Mitgliedsstatten teilten eine teilweise Umsetzung mit, während neun Mitgliedsstatten keine
Mitteilung diesbezüglich durchführten.
In einigen der Länder, in denen der Energie-Service-Markt bereits entwickelt ist, werden die
Begriffe Energiedienstleister und Energiedienstleistungen nicht unbedingt verwendet. Zum Beispiel
sind in Frankreich die Begriffe "Energiedienstleistung" und "Energiedienstleistungsunternehmen",
die in Europa bereits üblich waren, erst in späten 1990er Jahren dank der Liberalisierung der
Energiemärkte und aufgrund der Entwicklung des Energie-Richtlinie und der anschließenden
Debatten [7] erschienen.
Auch in Deutschland wird der Begriff ESCo kaum verwendet, sondern dieses Geschäftsmodell wird
in Verknüpfung mit Contracting gebracht, um Verwirrung zu vermeiden wurde der Begriff
Contracting in der DIN 8930-5 der grundlegender Begriff, mehrere alternative Contracting-
Modelle, Dienstleistungskomponenten, die Preise für Dienstleistungen, Anwendungsbereiche und
der rechtliche Hintergrund definiert.
Einer der wichtigsten legislativen Beschränkungen, die den Contracting-Aktivität im öffentlichen
Sektor in vielen der europäischen Mitgliedstaaten behindert war die Tatsache, dass der Betrieb und
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insbesondere der Kauf von der Ausrüstung, sowie die Erbringung von Dienstleistungen
einschließlich Energie Dienstleistungen im öffentlichen Sektor für Private nicht erlaubt waren. Es
wurde eine hohe Anforderungen der ESCos und viel Engagement benötigt um komplexe Lösungen
für den privaten Sektor zu entwickeln und innovative Lösungen anbieten zu können. Dieses
Problem wurde zum Teil fast in allen EU-Ländern gelöst (zB FR, IT, DE, UK, IE, GR, SI, SP, PT,
CY, RO, SK) und Kroatien, wenn Rechtsvorschriften über Public Private Partnerships (PPPs)
gegründet wurden. Natürlich ist das Niveau der gegründeten PPPs zwischen den Mitgliedstaaten
unterschiedlich. PPP ist eine Art "Überbegriff" die ein breites Spektrum von Vereinbarungen
zwischen öffentlichen Institutionen und dem privaten Sektor auf dem Betrieb öffentlicher
Infrastrukturen oder die Bereitstellung öffentlicher Dienstleistungen nutzen zu können [19]. Was die
Durchführung von ESCo Projekten im öffentlichen Sektor betrifft, unter diesen besonderen und
formale Vereinbarungen, sind das mehrjährige Konzession Vertragspartner in Bezug auf die
Installation, Betrieb und Wartung von gemieteten / ausgelagert energieeffizienter Geräte in
öffentlichen Gebäuden kann theoretisch realisiert werden können.
PPPs ermöglichen im öffentlichen Sektor die Vergütung in regelmäßigen Abständen während des
Projekts an private Unternehmen zu zahlen, und ermöglicht, dass die Bezahlung auf Basis von
Performance-Indikatoren vorher im Vertrag festgelegt werden können (statt rein Umsatz basierend).
Zur weiteren Steigerung der Wirksamkeit dieser Regelung sollte die öffentliche Rechnungslegung
ebenfalls überarbeitet werden und die Trennung von Betrieb und Investitionsbudgets sollten im
Falle von ESCO-Projekten erfolgen. Da es sehr wichtig ist dass die Einsparungen im
Betriebsbudget genutzt werden kann als Abgabe für Investitionen in Energieeffizienzmaßanahmen.
Darüber hinaus sollten die Vorschriften über öffentliche Aufträge überarbeitet werden, um etwa
Kriterien für Energieeffizienz einfließen lassen zu können.
In den baltischen Staaten (Lettland, Estland, Litauen) tragen instabil und nicht gut definiert
rechtlichen Rahmenbedingungen sowie ungünstige Vergabeverfahren zur Verlangsamung der
Initialisierung des Marktwachstums bei. In Polen behindern Vergabeverfahren die Auswahl der
besten Bieter und sind nicht geeignet für langfristige Verträge. Entscheidungsprozesse und
finanziellen Verfahren innerhalb von Körperschaften des öffentlichen Rechts sind zu kompliziert.
Da ESCo Regelungen und Verträge eher kompliziert sind, würden Rechtsvorschriften speziell für
Contracting-Leistungen dazu beitragen, grundlegenden Unsicherheiten zu überwinden. Darüber
hinaus sollten die öffentlichen Beschaffungsprozesse angepasst werden, um diesen Markt für ESCo
Service zu öffnen.
In der kroatischen Gesetzgebung werden ESCO-Modelle im Gesetz über die Energieeffizienz in den
direkten Verbrauch (OG 152/08) erwähnt. Das Gesetz definiert eine ESCo und besagt, dass Gelder
für Energiedienstleistungen durch den Auftragnehmer, z.B. einer ESCO, gewährleistet wird und
ganz oder teilweise aus eigenen Quellen oder Dritten erbracht werden müssen. Somit tragen die
Vertragspartner oder ein Dritter die Risiken ganz oder teilweise und dass die
Energieeinsparungsinvestition durch Einsparungen zurückgezahlt werden soll. Darüber hinaus
formuliert das Gesetz einen Energieeffizienz Vertrag, um Informationen über Dinge wie dem
Energiedienstleistungskunden, die Finanzierung durch Dritte, irgendwelcher Beteiligungen,
Primärenergieverbrauch, garantiert Energieeinsparungen usw. enthält.
Es gibt ein Verfahren für Versicherungssysteme welche in den ESCo Projekten einbezogen werden
und auch die Versicherung der Geräte wird durch einen Vertrag mit einem Hersteller / Anbieter von
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Anlagen, welcher die Garantie der installierten Komponenten regelt. Als Zahlungssicherheit,
verwendet HEP ESCO, derzeit der einzige Energiedienstleister in Kroatien, verschiedene
Instrumente je nach Art des Kunden. Art und Anzahl der eingesetzten Instrumente hängt von der
Beurteilung der Zahlungsfähigkeit eines Kunden ab.
In Finnland hat Motiva eine sehr bedeutende Rolle in Energiefragen. Motiva Oy ist ein staatliches
Unternehmen zur Förderung von Energieeffizienz und erneuerbaren Energien. ESCO-Konzept ist
ein Werkzeug, um energieeffiziente Technologien und Lösungen implementieren zu können.
Motiva arbeitet zusammen mit den Marktteilnehmern für die Förderung und Entwicklung ESCOund
Energy Performance Contracting (EPC) Konzepte in den finnischen Energiemärkten [49].
Motiva fungiert als Bindeglied zwischen Energiedienstleister und ihren potentiellen Kunden durch
die Entwicklung von ESCO-Modellen und Werkzeugen und die Vermarktung der ESCO-Konzepte.
Eine Maßnahme zur Unterstützung war die Schaffung eines Registers von ESCO-Projekten [50].
In Österreich sind die rechtlichen Rahmenbedingungen für TPF-Projekte die gleichen wie für jeden
andere rechtliche Vertrag. Allerdings können Schwierigkeiten durch die Vergabe von
Leistungsverträgen auftreten. Das Gesetz des öffentlichen Beschaffungswesens regelt die Vergabe
von Aufträgen durch öffentliche Auftraggeber auf der Grundlage eines "Modell-Ansatzes". Im Falle
eines privaten Kaufes der Anlage, kann das Projekt vergeben werden ohne die Verpflichtung und
Bestimmungen des Gesetzes des öffentlichen Auftragswesens zu beachten. Der allgemeine
Rechtsrahmen für die Vergabe von Aufträgen durch öffentliche Auftraggeber kann als
"überwiegend positiv" beurteilt werden. Grundsätzlich liefern die Bestimmungen für die Vergabe
von Aufträgen keine Hindernisse für die Nutzung von Energiedienstleistungen durch öffentliche
Auftraggeber. Es gibt bestimmte "Problemzonen" jedoch, wie Klassifizieren von Drittfinanzierung
Projekten innerhalb bestimmter Kategorien von Aufträgen. Es wird daher empfohlen, dass die
Aufmerksamkeit auf die relevanten rechtlichen Rahmenbedingungen während der
Projektentwicklung gelegt wird.
In Bulgarien, während der Anfangsphase eines Projekts, investierte die ESCO ihr Working Capital
zur Durchführung von Energie-Audits und um eine Projekt-Dokumentation zu entwickeln. Alle
diese Kosten waren später in den Kosten enthalten. Die Gefahr jedes Entwicklungszyklus macht das
Projekt teuer und riskant für die ESCO. In Übereinstimmung mit dem Gesetz zur Förderung der
Energieeffizienz hat die Regierung die Verordnung № RD-16-347 vom 2. April 2009 entwickelt
und verabschiedet über die Verfahren zur Bestimmung der Höhe und Zahlung von Förderungen im
Rahmen eines geplanten Energie-Contracting, was zu Energieeinsparungen in Gebäuden - Staatsund
kommunalen Eigentum führen soll (in Kraft seit 14.04.2009) durch das Ministerium für
Wirtschaft und Ministerium der Finanzen herausgegeben und veröffentlicht im SG. 28 vom 14.
April 2009.
In Rumänien wurde die Energiedienstleistungsrichtlinie (2006/32/EG) in das nationale Recht mit
der Regierungsverordnung Nr. 22/2008 umgesetzt. Es gibt kein anderes Gesetz zur Regelung des
Contracting Marktes, wie z.B. die Bereitstellung von Musterverträgen oder Akkreditierung für
Energiedienstleister, ein Mustervertrag für Energiespar-Contracting (EPC) ist in Vorbereitung [52].
In Slowenien sind Vorschriften im Zusammenhang mit Energiedienstleistungsprojekte im Gesetz
über Public - Private Partnership (OG 127/06) und im Gesetz über öffentliche Aufträge (OG
128/06) geregelt.
12

In Frankreich ist ein wichtiger Faktor für die Aufnahme von ESCO Betrieben im privaten Sektor
die Implementierung eines Systems weißer Zertifikate (WCS) im Jahr 2006 (genauere
Beschreibung der Regelung ist in Anhang I ersichtlich).
Die Überprüfung der italienischen Rechtsrahmens zeigt, dass es mehrere Definitionen von
Energiedienstleistern gibt und eine ESCo-Zertifizierung als Notwendigkeit empfunden wird.
Insbesondere die Definition der förderfähigen ESCos, um mit weißen Zertifikate auf dem
italienischen Markt mit Energieeffizienz System handeln zu könne, umfasst alle Unternehmen, die
in ihrer konstitutiven Akt erklären auf Energiedienstleistungen im weitesten Sinne tätig zu sein. Aus
diesem Grund werden die meisten dieser Betreiber nicht wirklich als Energiedienstleister
angesehen.
Bis November 2005 listete die Behörde etwa 400 Energiedienstleister auf. Vor kurzem wurde ein
neuer Standard (die Prüfung und Zertifizierung von Energieeinsparungen erhalten) hinzugefügt, und
reduzierte die Zahl auf "nur" 56 Energiedienstleister (Juni '06). Aber die Definition bleibt ziemlich
breit und vage, da im Moment nur wenige Energiedienstleister zum Beispiel
Energiedienstleistungsverträge, Drittfinanzierung und integrierte Energie-Dienstleistungen liefern
können. In einer solchen Situation besteht die Notwendigkeit, Kriterien sicher zu charakterisieren,
um zu definieren, was ein ESCO ist und was die erforderlichen Mindest-Dienste sind, um das
Vertrauen bei den Kunden und den Finanzinstituten zu schaffen.
Ein erster Versuch, einen klaren rechtlichen Hintergrund für TPF und Energiedienstleister
einzuführen wird durch das Gesetzesdekret Nr. 115/08 ermöglicht, welches die Merkmale und
Regeln von Energiedienstleistungen und Vorgehensweisen von Energiedienstleister anführt.
Der Abschnitt V, Art. 16 des vorliegenden Erlasses führt freiwillige Zertifizierungsverfahren für
Energiedienstleister, Energie-und Führungskräfte, welches von einem spezifischen UNI-CTI
(Italienisch thermotechnisches Komitee, zuständig für die Standardisierung) definiert wird. Darüber
hinaus werden, um eine höhere Zuverlässigkeit der Messungen der Energieeffizienz zu erreichen,
weitere Dekrete des Industrieministeriums bezüglich des Verfahrens definiert um die Energie-
Management-Systeme und die Energie-Audits selbst zertifizieren zu können.
In Portugal, in dem Nationalen Aktionsplan für Energieeffizienz [51] wird auf die Förderung der
ESCos gesetzt, wo Ausschreibungen und Anreize für die Schaffung von Energiedienstleistern
und Verträge über Energieeffizienz vorgesehen sind.
In Spanien wurde ein nachhaltiges wirtschaftliches Gesetz im Februar 2011 beschlossen [53].
Eines der Ziele dieses Gesetzes ist es, ein positives Umfeld für das Unternehmertum im ESCo-
Sektor zu schaffen. Artikel 102 des Gesetzes stellt eine Definition von ESCos zur Verfügung, die
sehr ähnlich zu dem in der EU - Energiedienstleistungsrichtlinie ist. Nach dieser Definition sollte
das Unternehmen ein gewisses Maß an finanziellem Risiko übernehmen. Das Gesetz besagt, dass
die Regierung einen konkreten Plan zur Förderung von ESCos, Beseitigung von Hindernissen
und Erleicheterung von finanziellen Ressourcen entwickeln wird [48].
In Griechenland war eines der Haupthindernisse für die Stagnation der ESCO-Marktentwicklung,
das Fehlen eines Gesetzes für ein ESCO Geschäftsmodel, was im Juni 2010 mit Hilfe der
Abstimmung des Gesetzes 3855/2011 (GOG Ausgabe A'95 /23/06/2020) versucht wurde zu
beseitigen. Dieses Gesetz ist die Umsetzung der EU-Richtlinie 2006/32/EG - "Energy Service
13

Directive - ESD" im griechischem Recht und es verdeutlicht den Rechtsrahmen für den Betrieb
eines ESCO. Es erlaubt viele Unternehmen im Bereich erneuerbarer Energie ohne Zweifel im Markt
für Energiedienstleistungen ein zu treten. Es wird erwartet, dass mit diesem Gesetz der
Energiedienstleistungsmarkt sich nach vorwärts bewegen und entwickelt wird und dass eine Reihe
von Unternehmen, die als Energiedienstleister tätig werden oder tätig sind, als Energiedienstleister
im öffentlichen und privaten Sektors beteiligt werden.
Laut dem Gesetz 3855/2010 wurde ein Energiedienstleister-Register erstellt (MD D6/13280, GOG
Ausgabe B'1228/14/06/2011), in denen Unternehmen, die bestimmte Kriterien (Finanz-, Know-how
usw.) erfüllen können registriert werden und als Energiedienstleister fungieren.
In Zypern wurde die Gesamtenergieeffizienzrichtlinie noch nicht in nationales Recht umgesetzt und
bis heute gibt es kein separates Gesetz welches den Umgang mit dem Betrieb eines ESCo definiert.
3.1.2 Bestehende Verträge
Die Art der Verträge in den einzelnen Mitgliedstaaten für die Umsetzung von ESCo Projekten
reicht von den bekanntesten Programmen wie EPC und TPF bis hin zu länderspezifische
Regelungen wie Wärmelieferungsverträge und der Chauffage-Verträge verwendet. Nachfolgend
werden einige der bestehenden Art von Verträgen, welche in den verschiedenen Mitgliedstaaten
verwendet werden vorgestellt:
14

In Deutschland beschreibt die deutsche Norm DIN 8930-5 im Wesentlichen zwei Contracting
Schemas:
Werks/Betriebs Contracting
Dieses Schema wird als Energieliefercontracting bezeichnet. In diesem Fall baut, plant, finanziert
und entwickelt der Auftragnehmer neue Wärmeerzeugungsmethoden oder übernimmt ein
bestehendes System. Im Laufe der Vertragslaufzeit (in der Regel 10 - 20 Jahre) ist der
Auftragnehmer verantwortlich für Betrieb, Wartung und Betreuung der Anlagen. Er kauft
Primärenergie ein und verkauft Wärme an den Kunden. Energieeinsparungen sind natürlich Teil
dieser Projekte, da neuen oder renovierten Kessel effizienter arbeiten. Der Kunde zahlt in der Regel
einen Basispreis an den Auftragnehmer, welecher die Investitionskosten einschließlich der
Rückzahlung des Kredits und Wartung der Anlagen abdeckt. Diese kostengünstige Komponente ist
flexibel in Bezug auf die Erhöhung der durchschnittlichen Gehälter. Der zweite Teil der
monatlichen Zahlung richtet sich nach dem Energieverbrauch.
In den meisten Fällen hat der Kunde höhere Gesamtwärmekosten nach dem Contracting Projekt, da
ja keine Investitionskosten angefallen sind. Jedoch erreichen die meisten Kunden signifikante
Geldbeträge wenn die Kosten für alternative Lösungen mit (z.B.: Projektumsetzung durch den
Kunden selbst) vergleichsweise kalkuliert werden. Die Energieeinsparungen sind natürlich
Bestandteil solcher Projekte: Der Auftragnehmer gibt die Wärmeerzeugungskosten nicht an den
Kunden weiter, da dieser nur für die verbrauchten kWh Wärme festgesetzte Preisbasis zahlt (die
kWh Preise sind flexible und richten sich nach den Brennstoffkosten). Der Auftragnehmer wird
daher versuchen am effizientesten Wärme zu produzieren. Allerdings sind jedoch
Energieeffizienzmaßnahmen jenseits der Wärmegewinnung bzw. garantierte Energieeinsparung
kaum Bestandteil solcher Projekte.
Dieses Contracting Schema ist daher nicht in absoluter Übereinstimmung mit dem ESCo Definition
von Bertoldi et al., 2005 [17]. Es ist auch nicht nur die reine Bereitstellung von
Energiedienstleistungen, da der Auftragnehmer nicht alle Wärme Produktionskosten an den Kunden
weitergibt und deshalb eine gewisses finanzielles und technisches Risiko auf sich nimmt. Die
Effizienz der Wärmeerzeugung ist ein entscheidender Aspekt in diesem Schema, da es die
finanziellen Gunsten des Auftragsnehmer erhöht.
Diese Regelung ist von großer Bedeutung in Deutschland: Zirka 84% aller Contracting-Projekte
fallen in diese Kategorie [22].
Energy Performance Contracting (EPC)
EPC (Einsparcontracting) wurde in Deutschland nach der Definition von Bertoldi et al. 2005 [16]
eingeführt. In Deutschland umfasst dieses Schema selten die Installation von neuen
Wärmeproduktions- Technologien bzw. Anlagen. Allerdings gibt es Projekte, die Eigenschaften des
EPC- und Anlagen-Contracting kombinieren aber die Investition jedoch, z. B. in neue Biomasse-
Kessel, wird in der Regel nicht durch Energieeinsparungen zurückgezahlt.
EPC wird ebenfalls am italienischen Markt verwendet, wo es jedoch weder durch anteilmäßige
bzw. garantierte Energieeinsparungen oder Energiedienstleistung Contracting definiert ist, wo die
Zahlung des Kunden sich rein auf die verbrauchte Wärmemenge bezieht.
15

In Lettland bieten nur zwei Unternehmen Contracting in From eines EPC an, während mehr als 40
Unternehmen mit Energie-Lieferverträge arbeiten.
In Schweden gibt es auffindbare Referenzen auf beide Seiten, Energiedienstleister und EPCs, aber
die Mehrzahl der bestehenden Formen sind EPCs.
Zwei ESCo Unternehmen bieten EPC und HDC (heating delivering contract), also
Wärmelieferungsverträge, auf den bulgarischen Markt an. Der Vertrag kommt durch die
gemeinsame Nutzung der erwarteten garantierten Einsparungen zustande. Der
Wärmelieferungsvertrag wird durch einen Energiedienstleister auf den bulgarischen Markt
angeboten. Laut dem Vertrag zahlt der Kunde 30% weniger pro kWh Wärme, im Vergleich zu dem
davor benutzten Brennstoff.
In Schweden werden die Anzahl von aktiven Energiedienstleister auf 27 geschätzt, welche auf den
Energie Contracting Markt tätig sind. Die Mehrzahl bietet Verträge in Form von EPCs an.
Chauffage Vertrag
Der so genannte "Chauffage Vertrag" ist ein in Frankreich häufig verwendete Vertrag, welcher den
Betrieb ohne ausdrückliche Verpflichtung zur Durchführung der Energieeffizienz Investition
beinhaltet. Unter einem Chauffage Vertrag sichert der Auftragnehmer einen optimalen Betrieb eines
bereits bestehenden Systems und muss eine vereinbarten Komfort (z. B. Temperatur, Feuchtigkeit)
zu geringeren Kosten für den Kunden erbringen, wenn die Bedingungen unverändert bleiben. Der
Auftragnehmer kann seine Gewinne durch Investitionen in energiesparende Geräte oder durch
preisgünstigen Kraftstoff erhöhen, wodurch die Kosten reduziert werden können. Diese Arten von
Verträgen in Frankreich sind in der Regel langfristig und beinhaltet die Verpflichtung, Probleme zu
analysieren und bei Bedarf Verbesserung des Systems mit den Verbundenen Investitionskosten
durchführen.
Die französischen Betreiber haben das Chauffage Vertrags-Modell zu einigen anderen europäischen
Ländern “exportiert”. Darunter befinden sich Belgien, Italien, Spanien, Großbritannien, Mittel- und
Osteuropa.
Auch in Spanien ist diese Art des Vertrages mit gemeinsamen Energieeinsparungen das meist
verbreitete Modell des Energie Contracting [48].
Wärme - Lieferverträge
Wärme Lieferverträge werden in vielen europäischen Ländern als Dienstleistung von ESCO-
Unternehmen oder Unternehmen, die bereit sind als Energiedienstleister tätig zu sein, angeboten. In
einigen Ländern, wie Finnland, sind Wärme Lieferverträge weit entwickelt und es gibt im
Wesentlichen fünf verschiedene Arten von Geschäftsmodellen für den Verkauf von Wärme, die im
Folgenden beschrieben werden:
• Geschäftsmodell, bei dem der Kunde Eigentümer der Wärme-Anlage und das Unternehmen
nur das Heizwerk betreibt. Der Kunde trägt das gesamte Investitionsrisiko. Dies ist das
häufigste Wärmelieferungs Geschäftsmodell in Finnland.
16

• Geschäftsmodell, bei dem sowohl das Unternehmen Besitzer und Betreiber des Heizwerkes
ist und Wärme an den Kunden liefert. Das Unternehmen trägt damit das gesamte
Anlagerisiko. Dieses Geschäftsmodell kommt häufiger in Finnland vor.
• Geschäftsmodell, bei dem ein großes Unternehmen das Heizwerk besitzt und die
Tochtergesellschaft (oder private Person) dieses betreibt. Das große Unternehmen trägt das
ganze Investitionsrisiko und das Einkommen der Tochtergesellschaft (oder privat Person) ist
nicht sehr hoch.
• ESCo - Geschäftsmodell, welches in Finnland nicht sehr häufig vorkommt.
• Franchising - Geschäftsmodell. Einige Unternehmen haben dieses Geschäftsmodell in
Finnland versucht, aber sie haben es nicht geschafft, einen echtes Geschäftsmodell auf zu
bauen.
Es gibt einige wenige verfügbar Vertragsmodelle bzw. Musterverträge in Finnland welche die
Verantwortung eines Wärmelieferungsunternehmens definieren. Diese Vertragsmodelle können als
Basis für die Definition der Verantwortlichkeit der Unternehmen, des Kunden und/oder des
Brennstofflieferanten. Solche Musterverträge können auch für die Preisbildung der
Wärmelieferung verwendet werden.
3.1.3 Finanzinstitute und Schemen
Einer der entscheidenden Parameter für die Entwicklung des ESCO-Markt ist die
Projektfinanzierung. Um ESCo Projekte umsetzen zu können sollte ein Beteiligter in der Lage sein
diese Projekte finanzieren zu können. In einigen Ländern, in denen große Energiedienstleister
existieren (z.B.: FR) wird die Finanzierung der Projekte vom eigenen Unternehmenskapital getätigt.
Zum Beispiel sind Energiedienstleistungsunternehmen in Frankreich große Unternehmen, die die
finanziellen Mittel zur Finanzierung von Projekten wenn nötig haben, damit die Rolle der Banken
[6, 13, 17] begrenzt ist. In anderen Ländern, wo entweder noch kein ESCo Markt entwickelt ist,
oder es nur kleine Energiedienstleister am Markt aktiv sind, ist es notwendig Finanzinstitute zur
Finanzierung der Projekte zu haben. Leider sind in einigen Ländern (z.B.: GR) die Finanzinstitute
nicht vertraut mit dem Konzept von ESCO-Projekten, und eine Projektfinazierung dadurch
schwierig. Während in anderen Ländern, wie in Ungarn, die Drittfinanzierung von Banken kein
Problem darstellt, da die Banken bereit sind Leistungsverträge zu finanzieren, zumindest für
etablierte Akteure im Bereich der Energiedienstleistungen. TPF ist nicht sehr verbreitet in
Schweden, da die Mehrheit der Kunden öffentlicher Stellen sind, welche die Finanzierung aus
eigenen Quellen liefern können. Somit besteht keine Notwendigkeit für die Kreditvergabe von
Finanzinstituten.
Im Allgemeinen sind die Contracting-Programmen mit zuverlässigen langfristigen Rückfluss von
Geldern attraktiv für Finanzinstitute, vor allem wenn der Kunde dem öffentlichen Sektor angehört.
Allerdings müssen die Banken eine Reihe von Risiken berücksichtigen [15]:
• Nicht nur der Zahlungsfähigkeit des Auftraggebers stellt ein Risiko da (nicht im öffentlichen
Sektor), die Zuverlässigkeit des Auftragnehmers muss auch berücksichtigt werden. Diese
Risiken werden minimiert, wenn sich Vertragspartner auf eine große Anzahl von Verträgen
beziehen können und die Risiken verteilt werden.
• Die Brauchbarkeit der Verträge muss beurteilt werden, dies kann schwierig sein, da die damit
verbundenen Verträge sehr kompliziert sind. Fragen der Preisanpassung, Eigentumsverhältnisse,
17

Verteilung von Aufgaben und Risiken für die Vertragspartner müssen gelöst werden. Daher
sollten die Banken in die Vertragsgestaltung in einem frühen Stadium aufgenommen werden um
Probleme zu minimieren.
• Haftung, Garantie und Versicherung
Die Banken haben oft nicht das Know-how um den technischen Aufbau von Anlagen zu bewerten
und insbesondere Energieeinsparpotentiale und technischen Risiken abzuschätzen.
In vielen Ländern wurden finanzieller Programme und Mechanismen, um Projekte in den Bereichen
Energieeffizienz und erneuerbare Energieträger zu unterstützen entwickelt. Diese finanziellen
Programme werden meistens in Form von Zuschüssen oder zinsgünstigen Krediten aufgebaut. Viele
der Fördermechanismen fokussieren Energieeffizienz, während andere auch die erneuerbaren
Energien mit einbeziehen. Nachfolgend einige der vorhandenen finanziellen Regelungen in den EU-
27 Ländern:
Belgien
• In Belgien existieren eine Reihe von Unterstützungsmechanismen. Zum Beispiel der erhöhte
Investitionsabzugsbetrag für Energie sparende Investitionen ("Verhoogde investeringsaftrek
voor Energiebesparende Investeringen") ist ein finanzieller Anreiz von der Bundesregierung
(Föderaler Öffentlicher Finanzdienst), um die Wiederherstellung bestehender Anlagen zu
verbessern und die Nutzung erneuerbarer Energiequellen zu fördern. Ab 2009 dürfen Firmen
15,5% von ihrem steuerpflichtigen Gewinn abziehen. Man kann diesen Zuschuss bei der
flämischen Energie-Agentur (VEA) beantragen. Es besteht auch die Ökologieprämie
("Ecologiepremie"), welche Investitionen niederer Umweltbelastungen auf
Produktionsprozesse, auch die Umwandlung von Biomasse durch Verbrennung, Pyrolyse und
Vergasung unterstützen.
Der Ökologieprämie gilt nur, wenn der Nutzen für die Umwelt die Anforderungen der
Regierung übertrifft. Die Vergütung für kleine und mittlere Unternehmen beträgt 35% der
zusätzlichen Kosten ihrer Investitionen. Große Unternehmen erhalten 25% der zusätzlichen
Kosten ihrer Investitionen. Der Investitionsabzugsbetrag ("investeringsaftrek") ist ein
Steuervorteil, der für Energiesparmaßnahmen gilt. Heutzutage können 14,5% (ohne
Mehrwertsteuer - MwSt) von der Ergebnisentwicklung der Gesellschaft, die eine niedrigere
Gewinnsteuer (derzeit rund 33%) ergibt abgezogen werden. Schließlich gibt es die
Unterstützung der flämischen Landwirtschaft Investment Fonds (Vlaams
Landbouwinvesteringsfonds - VLIF): Landwirte können 40% ihrer Investitionskosten für
Biomasse-Umwandlung durch die VLIF zurück erstattet werden und auch die Green Energy
Certificates ("Groenestroomcertificaten") übermittelt werden:
Jedes Jahr sind Energieversorger verpflichtet, einen bestimmten Anteil von grüner Energie zu
liefern. Ein Green Energy Zertifikat belegt, dass sie ihre Verpflichtungen erfüllt haben. Durch
die Erzeugung grüner Energie, kann man eine Green Energy Certificate für jede erzeugte MWh
an der flämischen Verordnungseinheit für den Strom-und Gasmarkt (- VREG Vlaamse
Reguleringsinstantie voor de Elektriciteits-en Gasmarkt) beantragen. Man kann dieses Zertifikat
an einem Energieversorger gegen einen Mindestpreis verkaufen, welche die flämischen
Regierung mit 80 € garantiert. KWK-Zertifikate ("Warmtekrachtcertificaten") sind von dem
18

gleichen Prinzip wie Green Energy Certificates. Für einen bestimmten Anteil sind
Energieversorger verpflichtet, Strom und Wärme aus Kraft-Wärme-Kopplung zu liefern, für die
sie eine KWK-Zertifikat erhalten. Wenn sie dies nicht tun, erhalten sie eine Geldstrafe 45 € pro
Zertifikat. KWK-Zertifikate können bei der VREG angefordert werden.
Frankreich
• In Frankreich werden Zuschüsse und Subventionen von den regionalen Gremien der ADEME -
die Französisch Umwelt und Energiemanagement-Agentur vergeben. Darüber hinaus erstellt
ADEME in Zusammenarbeit mit der französischen Entwicklungsbank ein Gutschrift-System zu
Gunsten von Energie-Management (FOGIME - Fonds de Garantie des Investissements de
Matrise de l'Energie), die Garantiefonds für Darlehen über Investitionen in nachhaltige und
erneuerbare Energien im privaten Sektor vergibt.
• In den letzten Jahren (hauptsächlich aufgrund der zunehmenden Zahl an neuen Akteuren im
Energiemarkt Frankreichs) haben die Finanzinstitute Erfahrung in der Finanzierung von
Energieeffizienz-Projekte erworben. Unter Berücksichtigung von garantierten Einsparungen von
ESCos und Energiespar-Contracting, wodurch jetzt beispielsweise das Risiko der garantierten
Einsparungen über die Einsparungen [47] gedeckt werden kann.
Ungarn
• Die ungarische Energy Saving Credit Fund/German Coal Aid Revolving Fund (GCARF), die
ursprünglich von der Regierung der Bundesrepublik Deutschland finanziert und von dem
ungarischen Ministerium für Wirtschaft, Finanzen gegründet wurde, finanziert Energieeffizienz-
Projekte. Der Fond vergibt Darlehen, die einen günstigen Zinssatz haben, 1/3 von dem
Basiszinssatz der Ungarischen Nationalbank. Die Amortisationszeit des Darlehens beträgt bis zu
6 Jahren. Industriebetriebe, Kommunen und Fernwärme-Unternehmen kommen für dieses
Darlehen in Frage. Förderfähige Technologien umfassen Energieumwandlung, Heizung,
Beleuchtung, erneuerbare Energien, usw. Die maximale Höhe des Darlehens beträgt 80% der
Investition und Kriterien werden an die gesamten Kosteneinsparungen und Energieeinsparung
gebunden. Der Fonds wird von der ungarischen Energiezentrum[24, 30] verwaltet.
In den vergangenen Jahren haben die Weltbank und die International Finance Corporation auch
ESCos in Ungarn gefördert, durch ihre Energieeffizienz-Ko-Finanzierungsprogram (HEECP),
die einen Teil des Kredits durch Bürgschaften finanziert. Das Programm endete im Jahr 2001,
aber es gelang damit das ESCO-Modell einen sehr nützlichen Ansatz zur Verbesserung der
Energieeffizienz [33, 40] hatten. Ab März 2009 können erneuerbare Energien Applikationen
Mitteln aus den Strukturfonds der EU „Umwelt-und Energietechnologie operationelles
Programm ("Környezet és Energia Operativ Program" - KEOP) erhalten.
Dies gilt für lokale Wärme-und Kälteversorgung aus erneuerbaren Quellen (KEOP 2009/4.2.0)
und Wärme und / oder Stromerzeugung aus erneuerbaren Quellen (KEOP 2009/4.4.0) [29]
mittels den Einsatz von Biomasse, Biogas, Geothermie, Solarenergie, Wasser, Windenergie und
Kombinationen davon. Die Finanzierung ist möglich für die Projekt Vorbereitung, Verwaltung,
immaterielle Vermögenswerte und Sachanlagen. Der Zuschuss kann für 10-60% der Kosten
ausmachen, bis ca. € 3,3 Mio. (1000 Mio. HUF). Die Zuschüsse stehen sowohl für öffentliche
und private Akteure zur Verfügung. Im Mai 2009 gewährte die Europäische Bank für
Wiederaufbau und Entwicklung (EBRD) ein Darlehen an die Raiffeisen Bank Zrt. um den
kommunalen Bereich zu finanzieren. Die Kredite werden an Gemeinden, kommunale
19

Malta
Unternehmen und Energieeinsparungs Unternehmen weitergeleitet. Das Ziel der Darlehen ist es,
die Energieeffizienz im kommunalen Bereich in Ungarn zu verbessern [38].
• Das Energie Subventionsschema (unter Energieservicerichtlinie 2006/32/EG) ist auf Malta
verfügbar, wo Projekte prozentuell bezogen auf die Gesamtinvestition unterstützt werden.
Niederlande
• Der Energy Investment Nachlass ("Energie-investeringsaftrek" - EIA) ist eine steuerliche
Regelung in den Niederlanden, um Investitionen in Energieeinsparung und nachhaltige Anlagen
zu stimulieren. Jedes Jahr wird eine neue Energie-Liste freigegeben, in der die
Energieeinsparung Norm und alle Beispiele für Energieeinsparung und nachhaltige Anlagen
aufgelistet werden. Im Jahr 2008 konnte die EIA einen 44% Abzug aus allen genehmigten
Investitionen, mit einem Mindestanlagebetrag von 2.100 € und einem Maximum von €
110.000.000 nachlassen.
In den Niederlanden gibt es auch die Verordnung zur Stimulation der Nachhaltigen Energie
Produktion ("Stimuleringsregeling Duurzame Energieproductie" - SDE), welche eine staatliche
regulierte Produktion von sauberer und nachhaltiger Energie ist, u.a. zur fördern ist Windkraft,
Photovoltaik, BHKW und Biomasse, und die finanzpolititsche Umwelt Investment Abzug
("Milieu-investeringsaftrek" - MIA) und Willkürliche Abzug von Umweltinvestitionen
("Willekeurige Afschrijving Milieu-investeringen" - Vamil), unter denen Unternehmer
gewinnbringend in umweltfreundliche Technologien investieren können. Alle Umwelt-
Investitionen, die Anspruch auf MIA und / oder Vamil sind, werden auf der kombinierten MIA
und Vamil Liste ("Milieulijst") aufgeführt.
Das Ministerium für Wohnungswesen, Raumordnung und Umwelt passt diese Liste jedes Jahr
an, um diese an politischen Prioritäten und aktuelle Marktentwicklungen anzupassen.
Schließlich gibt es die Grüne Investitions-und Finanzierung (Groen beleggen Financieren
en): das ist ein Programm zur Unterstützung umweltfreundliche Projekte durch die
Erleichterung billiger Bankkredite. Die Regelung erfolgt durch die Finanzierung privater
Investoren und Sparer, die im Gegenzug steuerlichen Vorteile erhalten. Die Energieforschungs
Subventionen ("Energie-OnderzoekSubsidies" - EOS): bietet Unternehmen und Forschungsund
Bildungseinrichtungen finanzielle Hilfe an. Das Programm unterstützt die Entwicklung der
Kenntnisse und ihre Anwendungen in vielen anderen Möglichkeiten. Und das Umwelt
Förderkonzept ("MilieuSteunKader" - MSK): Es gibt eine Grenze für den Gesamtbetrag der
finanziellen Unterstützung, welche als Umweltinvestitionen erlaubt wird und diese von der
Regierung erhalten. Die beiden wichtigsten Grundsätze sind: 1) ein Projekt kann nicht für mehr
als 40% seiner gesamten Investitionskosten (Investitionszuschuss maximal) subventioniert
werden, und 2) während der Laufzeit, kann ein Projekt nicht mehr Zuwendungen erhalten als
der Gesamtbetrag der Investitionen (Ausbeutung Zuschuss maximal) beträgt.
Slowenien
• Obwohl es keine besondere staatliche Regelung für die Finanzierung von
Energiedienstleistungsprojekten in Slowenien gibt, wurde ein Umweltentwicklungsfond (Eco
Fund) von der Republik Slowenien nach den Vorgaben des Umweltschutzgesetzes vom Juni
1993 als zentrales Instrument für die Finanzierung von Umweltinvestitionen etabliert. Der Eco
20

Fund bietet Darlehen für Umweltschutz Investitionen zu günstigen Zinssätzen (zinsgünstige
Darlehen), darunter Kredite für Umweltschutz Dienstleistungen, Anlagen und Technologien für
den Umweltschutz, und umweltfreundliche Produkte etc.
Schweden
• Zuschüsse, die von der Regierung in Schweden gegeben werden, zählen Investitionszuschüsse
für Solaranlagen und Zuschüsse für den Umbau von Heizungsanlagen. Der Zuschuss für
Solaranlagen kann für Wohngebäude und bestimmten gewerbliche Gebäuden für Heizung und
Warmwasser geltend gemacht werden. Der Zuschuss für die Umstellung der Heizungsanlage ist
für den Wechsel von elektrischen Heizungen zu einer anderen Form der Heizung
(Wärmepumpen, DH oder Biokraftstoff Heizung) möglich [23].
Italien
• In Italien sind die wichtigsten Anreize in Bezug auf Solarthermie und Biomasse-
Heizungsanlagen die Kapitalkosten - Subventionen (zur Verfügung zu bestimten Gelegenheiten
auf Grundlage von Förderungen auf nationaler, regionaler oder kommunaler Ebene), weiße
Zertifikate, 55% Steuerrabatt und die Mehrwertsteuer kann auf 10% reduziert werden. Unter
den anderen Ländern werden spezifische Anreize für erneuerbare Wärme in Form von
Kapitalkosten Subventionen durch die POI-Energia (Programma Operativo Interregionale,
www.poienergia.it) und des Kyoto-Fonds (www.cassaddpp.it) angeboten, mit dem Ziel, die
Wettbewerbsfähigkeit nachhaltigen erneuerbarer Wärme zu erhöhen.
Portugal
• In Portugal sind einige Finanzierungsschemas über den portugisischen Effizienzplan
möglich[8].
Spanien
• In Spanien ist die Fremdfinanzierung über IDEA ein etabliertes Instrument, um die
Energieeffizienz in Gebäuden zu erhöhen. Die Rahmenbedingungen sind geeignet und die
Nachfrage und das Angebot von TPF Dienstleistungen wächst [45].
• Die Projekt-Finanzierung wird hauptsächlich von Banken durchgeführt, aufgrund der
Wirtschaftskrise wurden vor kurzem Projekte mittels eigenen Mitteln der ESCos oder aus
verschiedenen Förderungen finanziert. ESCo Markt wird direkt oder indirekt über verschiedene
nationale und regionale Programme wie Estrategia de Ahorro y eficiencia Energetica E4
(nationalen Energieeffizienz-Strategie) und E4 + unterstützt, wo Energie-Audits und Energie
Interventionen teilweise subventioniert werden [48].
Rumänien
• Die Europäische Bank für Wiederaufbau und Entwicklung (EBRD) unterstützt die
Verbesserung der Energieeffizienz im öffentlichen Sektor in Rumänien, mit einer Investition in
Energiesparmaßnahmen in allen rumänischen Gemeinden. Ein 10 Millionen Euro Darlehen an
die Corporate EnergoBit ESCO, eine Tochtergesellschaft der EnergoBit Group SA, wird
verwendet um Energieeffizienz-Projekte vor allem in der rumänischen kommunalen Sektor zu
21

finanzieren. Es werden Projekte für die Durchführung von Energieeinspar- und
Möglichkeitsstudien zur Beurteilung der Installation von energieeffizienten
Straßenbeleuchtung, die Einführung kombinierter Wärme-und Stromerzeugung sowie die
Implementierung kleinen KWK-Projekte für Kunden aus der Industrie unterstützt [46] .
Kroatien
• In Kroatien ist der Umweltschutz und Energieeffizienz-Fond der erste und einzige
außerbudgetäre engagierten Stiftung für die Finanzierung von Projekten, Programmen und
Maßnahmen des Umweltschutzes, der Energieeffizienz und Nutzung erneuerbarer Energien.
Das primäre Ziel des Fonds ist die Umsetzung des politisch strategieschen Umweltschutzes.
Dies wird durch finanzielle Unterstützung für Umweltschutz Investitionen und Projekte, für
Energieeffizienz und Nutzung erneuerbarer Energiequellen erreicht. Der Fond beteiligt sich
auch an der Kofinanzierung von Programmen, Projekten und ähnlichen Aktivitäten auf dem
Gebiet des Umweltschutzes, der Energieeffizienz und Nutzung erneuerbarer Energien,
organisiert und finanziert von internationalen Organisationen, Finanzinstitutionen und andere
juristische Personen in Kroatien. Somit stellt der Fonds selbst den wichtigsten Partner und
Anbieter von Finanzierungen für Projekte im Bereich Energieeffizienz und erneuerbare
Energien in Kroatien da.
• Neben dem Umweltschutz und Energieeffizienz-Fond, spielt die Kroatische Bank für
Wiederaufbau und Entwicklung (HBOR) eine bedeutende Rolle in der Finanzierung. HBOR
führte ein Programm zur Finanzierung der Vorbereitungen von erneuerbaren Energien Projekte.
Kredite wurden für die Projektvorbereitung und die Entwicklung der Projekt-Dokumentation
entwickelt. Einer der Ziele des Programms ist es, den Einsatz erneuerbarer Energieträger zu
fördern.
• HEP ESCO is the implementing agency for the Energy Efficiency Project Croatia and is
currently the key market creator for energy efficiency projects. The Energy Efficiency Project
Croatia was initiated by the World Bank’s International Bank for Reconstruction and
Development (IBRD) and the Global Environment Facility (GEF) in collaboration with
Hrvatska Elektroprivreda D.D. (national electricity company) and Croatian Reconstruction and
Development Bank (HBOR). For this purpose Hrvatska Elektroprivreda D.D. and/or HEP
ESCO received a loan by the World Bank in the amount of €4.4 million and a GEF grant in the
amount of $5 million. The main goal of the grant is to support the development of the market
for renewable energy sources in Croatia and create an encouraging atmosphere for investments
in RES projects. Another part of the GEF grant in the amount of $2 million is managed by
HBOR for issuing partial guarantees for EE projects financed by commercial banks. The total
value of the Energy Efficiency Project Croatia, with participation of international and domestic
banks, such as Erste & Steiermarkishe Bank d.d., Privredna Banka Zagreb d.d., Raiffeisenbank
Austria d.d., Splitska Banka d.d., Zagrebačka Banka d.d. and KfW, is estimated at $40 million
over a six-year period.
• HEP ESCO ist die Durchführungsstelle für die Energie-Effizienz-Projekt in Kroatien und ist
derzeit der wichtigste Unterstützer für Energieeffizienz-Projekte. Die Energieeffizienz-Projekte
wurden in Kroatien von der Internationalen Bank der Weltbank für Wiederaufbau und
Entwicklung (IBRD) und der Global Environment Facility (GEF) in Zusammenarbeit mit
Hrvatska Elektroprivreda dd (nationale Elektrizitätsgesellschaft) und der kroatischen
Wiederaufbau-und Entwicklungsbank (HBOR) initiiert. Zu diesem Zweck hat Hrvatska
Elektroprivreda d.d. und/oder HEP ESCO ein Darlehen von der Weltbank in Höhe von 4,4 Mio.
€ und einem GEF Zuschuss in Höhe von 5 Mill. $ erhalten. Das Hauptziel dieser Subvention ist
22

es, die Entwicklung des Marktes für erneuerbare Energien in Kroatien zu unterstützen und eine
ermutigende Atmosphäre für Investitionen in EE-Projekte zu schaffen. Ein weiterer Teil des
GEF-Zuschuss in Höhe von 2 Mill. $ wird durch HBOR für die Ausstellung teilweise
Garantien für erneruerbarer Energieprojekte verwaltet, welche von kommerzielen Banken
finanziert werden. Der Gesamtwert des Energieeffizienz-Projektes in Kroatien, mit Beteiligung
von internationalen und inländischen Banken, wie z. B. Erste & Steiermarkishe Bank d.d.,
Privredna Banka Zagreb d.d., Raiffeisenbank Österreich d.d., Splitska Banka d.d., Zagrebacka
banka d.d. und der KfW, wird mit 40 Millionen $ über einen Zeitraum von sechs Jahren
veranschlagt.
Bulgarien
• Dank der bulgarischen Energieeffizienz und erneuerbare Energien Kreditlinie - BEERECL
(http://beerecl.com), welches von einem Kreditinstitut der Europäischen Bank für
Wiederaufbau und Entwicklung (EBWE), der bulgarischen Regierung und der Europäischen
Union angeboten wurde, haben die bulgarische privaten Unternehmen möglicherweise
Anspruch auf die Unterstützung für ihre Bedürfnisse und können eine Investition in
Energieeffizienz oder erneuerbare Energien tätigen. Die Kreditlinie übermittelt zu den
geborgten Darlehen bis zu EUR 2,5 Mio., Förderunggkredite bis zu 15% und eine kostenlose
Beratung.
• ProCredit Bank Bulgaria) offers to its client’s business energy efficiency loans. The Industrial
Energy Efficiency program of the Bank is implemented with the support of the European
Union, Kreditanstalt für Wiederaufbau – KfW (German development bank), whose seat is in
Frankfurt (Germany) and Counsil of Europe Development Bank – CEB whose seat is in Paris
(France). The consultants on this programme are Grontmij, Carl Bro Group and Bulgarian
Consulting Centre.
• ProCredit Bank Bulgarien (http://www.procreditbank.bg) bietet seinen Kunden Darlehen für
Energieeffizienz Projekte. Das Industrie Energie Effizienz Programm der Bank wurde mit
Hilfer der europäischeb Union, Kreditanstalt für Wiederaufbau – KfW (Deutsche
Entwicklungsbank) aus Frankfurt (Deutschland) und dem Konsil der europäischen
Entwicklungsban aus Paris eingeführt. Die Berater für dieses Programm ist die Grontmij Carl
Bro Gruppe und das bulgarische Beratungszentrum.
23

3.2 Technische Rahmenbedingungen
3.2.1 Qualität und Monitoring
BioSolESCo sowie ESCo Tätigkeiten sind erfolgsabhängige Projekte, welche eine standardisierte
Kontrolle und Prüfungsmaßnahmen benötigen. Für Energieeffizienzprojekte gibt es das
Internationales Protokoll für Leistungsmessung und -überprüfung (International Performance
Measurement and Verification Protocol, IPMVP), ein Modell welches weltweit zur Messung und
Evaluierung von Energieeffizienzprojekten genutzt wird. In Übereinstimmung mit Vine et al., 2005
[14] ist die Normierung von Messwerten und Verifizierung eine der wichtigsten Maßnahmen für die
Entwicklung des ESCo Markts.
In den folgenden Paragraphen sind einige der vorhandenen Mess- und Überprüfungsregelungen
verschiedener Mitgliedstaaten beschrieben.
In Malta wurden keine Qualitätsstandards und Standardprozeduren für das Monitoring durch private
oder öffentliche Akteure eingeführt um Zugang zu Fördergeldern oder Zertifizierungssysteme zu
erhalten, da Energieeinsparungs- und Energieeffizienzmaßnahmen in Übereinstimmung mit dem
Mechanismus für eine umweltverträgliche Entwicklung (Clean Development Mechanism, CDM)
und der Joint Implementation (JI) Regelung von der Regierung vorgenommen werden.
In Deutschland hängt der flexible Anteil der Vertragskosten hauptsächlich von dem Verbrauch von
Wärme ab. Übereinstimmend mit der AVBFernwärmeV muss der Wärmeverbrauch durch
kalibrierte Wärmezähler gemessen werden. Die Zähler müssen alle 5 Jahre kalibriert werden. Es
wird das Volumen an fließendem Wasser sowie die Temperaturen in Flusslinie und Rückfluss
gemessen. Andere Mittel der Messung werden nicht angewandt und Abweichungen von dieser
Methode müssen ausdrücklich von beiden Vertragspartnern vereinbart werden [4]. Die Abrechnung
kann monatlich oder jährlich erfolgen und die Zähler müssen regelmäßig abgelesen werden. Wenn
die Abrechnung jährlich erfolgt kann der Auftragnehmer Vorauszahlungen verlangen, deren Höhe
von dem Verbrauch der vorherigen Zahlungsperiode abhängt [4].
In anderen Ländern, wie in Ungarn, ist ein Mangel an geeigneten Methoden zur Messung des
Energieverbrauches ein großes Problem. Eine Verifizierung des früheren und neuen Verbrauches ist
jedoch wichtig um eine Energieeinsparung nach der Implementierung eines ESCo Unternehmens zu
belegen.
In Belgien findet das Monitoring wie folgt statt:
• Richtlinie über die Energieeffizienz von Gebäuden (Energy Performance Directive,
“Energieprestatieregelgeving”): Ab dem 1 Januar 2006 müssen alle Wohnungen, die neu
gebaut oder renoviert werden, bestimmte Kriterien der Wärmeisolierung, Energieeffizienz
(Isolation, energiesparende Heizungsinstallation, Belüftung, etc.) und für ein gesundes
Raumklima erfüllen. Verschärfte Bestimmungen werden ab 1 Januar 2010 in Kraft treten.
• Audit Pakt: Unternehmen, die am Audit Pakt teilnehmen, führen ein Energie Audit durch
um ihr Energiesparpotential anzuzeigen. Sie verpflichten sich zudem zu energiesparenden
Maßnahmen. Als Ausgleich befreit die Regierung diese Unternehmen von zusätzlichen
Energie- und CO2- Reduktionsauflagen.
24

• Benchmarking Pakt: Um dem Benchmarking Pakt beizutreten, muss ein Unternehmen einen
jährlichen Energieverbrauch von mehr als 0,5 PJ aufweisen. Diese Unternehmen vergleichen
ihre Energieeffizienzmaßstäbe mit anderen großen Energieverbrauchern. Aus diesen
Erkenntnissen können neue Energieeffizienzziele gesetzt werden. Solche Unternehmen
erhalten von der Regierung Ausgleichszahlungen.
In den Niederlanden:
• Das Protokoll zum Monitoring Duurzame Energie (Protokoll zum Monitoring erneuerbarer
Energien) bietet eine Methode, um die Menge aller genutzten erneuerbaren Energiequellen
zu messen und diese in Relation zur gesamten Energiemenge zu setzen. Dieses Protokoll
wurde von SenterNovem entworfen und wird vom CBS (“Centraal Bureau voor Statistiek”:
Statistik Niederlande) genutzt. CBS liefert Daten an das Wirtschaftsministerium, welches
seinerseits diese Daten für die Erstellung der politischen Ziele nutzt. Die jüngste
Aktualisierung stammt aus dem Jahr 2006, eine neue Version wird 2009 herauskommen.
• Auch das Protokoll zum Monitoring Energiebesparing (Protokoll zum Monitoring Energieeinsparungen)
wurde von SenterNovem in Kooperation mit dem CPB (“Centraal
Planbureau”: Niederländische Büro für wirtschaftspolitische Analysen), dem RIVM
(“Rijksinstituut voor Volksgezondheid en Milieu”: Staatliches Institut für Volksgesundheit
und Umwelt) und dem ECN (“Energieonderzoek Centrum Nederland”: Energieforschungszentrum
der Niederlande) entworfen. Ziel ist die Überwachung der Energieeinsparungen.
• Zudem gibt es die Nederlandse Technische Afspraken (Niederländischen technischen
Absprachen - NTA) des Ministeriums für Wohnbau, Raumplanung und Umwelt, welche
sich auf den Anteil biogener Elemente in sekundären Brennstoffen fokussieren. NEN
(“NEderlandse Norm”: Niederländische Norm) ist das nationale Institut für Normen. Die
NTA-Normen sind ein produkt der NEN. Es gibt verschiedene Normen für die Verwendung
erneuerbarer Energiequellen. Erst kürzlich erklärte Normen sind NTA 8080:2009
“Nachhaltigkeitskriterien für Biomasse im Namen ernergiepolitischer Ziele“ und NTA
8003:2008 „Klassifizierung von Biomasse für Energiezwecke“.
In Bulgarien führen Energiedienstleistungsunternehmen, die Messungen und Verifikationen
durchführen, typischerweise kleinere Energiedienstleistungsvertragsprojekte durch. Die ESCos und
der Kunde schließen häufig vertragliche Vereinbarungen ab, die die erwartete Energieeinsparung,
die Meßmethoden, das kurz- und langfristige Management und die
Ausgleichszahlungen/Entschädigungsverfahren beinhalten. Diese Projekte haben möglicherweise
lange Entwicklungs- und Konstruktionsphasen. Die ESCo Mitarbeiter müssen möglicherweise eine
beträchtliche Zeit an einem individuellen Standort verbringen, sowohl vor als auch nach der
Installation von Energiesparmaßnahmen, um den Erfolg der erwarteten Energieeinsparungen sicher
zu stellen. Projekte, in denen die ESCo primäre Verantwortung für die Messung und Verifikation
hat, gibt es allerdings nur wenige pro Jahr.
Auch in Bulgarien ist das Monitoring und Verifizieren (M&V) von Energieeinsparungsstandards
ein wichtiger Faktor zur Entwicklung von Energiesparmaßnahmen (ECM, Energy Conservation
Measures). M&V Standards bestimmen die spezifische Energieeinsparung beider beteiligter Partner
des ECM. Um Energiemanagement-Verträge ausführen zu können, ist die Einführung von EU
M&V Standards unerlässlich. Diese M&V Standards können folgende Vorteile bringen:
� Kenntnis über den Nettobetrag an Energieeinsparungen und Energiekosten;
� Einhaltung der Wartungsstandards und Garantieleistungen zur Gerätewartung;
� Verbesserte Verlässlichkeit der ESCo Energieeinsparungs-Garantie;
25

� Die Kunden können die Verbesserungen angemessen beurteilen.
In Italien sind Qualitäts- und Monitoring-Aspekte entscheidend für ESCos und damit für
BioSolESCos, da der Gewinn der ESCo´s von den erzielten Energieeinsparungen abhängt. Die
gesetzliche Verordnung 115/2008 definiert hier nicht nur die quantitativen Parameter die zu
überwachen sind, sondern auch die nötigen Vertragsmodalitäten zwischen ESCo und dem Kunden.
Bezogen auf die Definition des Energieleistungsvertrages „Plus“ erklärt die Verordnung, dass
ESCos freiwillig Zertifizierungen durchführen müssen (ISO 9001 und eine Zertifizierung wie im
Gesetz 46/90 vorgesehen). Das soll sicherstellen, dass die Unternehmen das nötige technische und
Management Know-how mitbringen. In Zukunft sollen internationale ESCo
Zertifizierungsstandards (ISO 16001) eingeführt werden.
Um Energiesparzertifikate (white certificates, WhCs) zu erhalten, ist auch das Monitoring
definiert. Wie zuvor beschrieben, sollte jede Endnutzer-Energieeffizienzmaßnahme dokumentiert
und durch die AEEG zertifiziert werden, um die entsprechenden WhCs zuordnen zu können.
Insbesondere bei solarthermischen Projekten kann einer standardisierten Prozedur gefolgt
werden, um die Energieeinsparungen durch Installation entsprechender Solarpanels abschätzen
zu können. Diese Prozedur erlaubt die Einschätzung der Einsparung ganz einfach durch die
Fläche (m 2 ) der Solarpanels, den Typ des Radiators, die Klimazone und die ausgetauschte
Heizquelle. Bezogen auf Biomasseboiler und Biomasse Kraft-Wärme-Kopplung (KWK) wurde
durch die AEEG eine Reihe analytischer Prozesse definiert um die Energieeinsparung von Bio-
Wärme beurteilen zu können, hauptsächlich im Rahmen kleiner KWK Systeme und Fernwärme.
Jedoch sollte erwähnt werden, dass die Beurteilung der Energieeinsparung in diesem Fall
komplexer ist und spezifische Messungen nötig sind. Zudem ist zu erwähnen, dass die
Zertifizierungsprozeduren für Biomasse Fernwärme und Biomasse Kraft-Wärme-Kopplung im
Moment nicht anwendbar sind [25].
Die in Italien in der legislativen Verordnung (LV) 115/2008 vorgesehenen Qualitäts- und
Kontrollmaßnahmen im Rahmen des Energieleistungsvertrages sind:
• das Energielabel von Gebäuden ist definiert durch die LV 192/2005, in welcher der
Energiebedarf des Gebäudes und die anzuwendende Messungen zur Verbesserung des
Energieprofils beschrieben sind. Die Beurteilung des Energielabels muss gemäß UNI TS
11300 erfolgen und kann mithilfe kommerzieller Software durchgeführt werden, die
durch die CTI (Comitato termotecnico Italiano) oder UNI (Ente nazionale Italiano di
Unificazione) zertifiziert wurde und einen maximalen Fehler von +/- 5% in der
Abschätzung des Energiebedarfes aufweist;
• quantitative Parameter, die für die Kalkulation der Effektivität der Energiedienstleistung
genutzt werden, sollten klar festgelegt werden; zudem sollte die Korrelation zwischen
den Messparametern und der Menge an gelieferter thermischer Energie definiert werden;
die an den Endnutzer gelieferte Energie sollte zumindest jährlich dokumentiert werden
mit einzelnen Messungen für jeden Nutzer.
Die HEP ESCO in Kroatien bieten keine Garantieleistungen in ihren Projekten an, da dieses Modell
(inklusive Monitoring, Wartung, IT Service etc.) für den Kunden zu teuer ist. Daher werden
Überwachungsmaßnahmen nach Projektumsetzung nicht durchgeführt. In diesen Projekten werden
gewöhnlich nur die Stromrechnungen der Kunden zur eigenen Information überwacht.
26

3.2.2 Geeignete Technologien für BioSolESCos
Welche Technologie geeignet ist, um BioSolESCo Projekte zu realisieren, hängt vom Stand der
Technik und der Marktreife des Energiesystems in den einzelnen Ländern ab. In den meisten
Ländern hat das Biomasse und Solar Energiesystem ausreichende technologische Reife erlangt,
jedoch variiert die Marktreife stark zwischen den verschiedenen Mitgliedsstaaten.
Für BioSolESCo`s in Finnland ist die Technologie nicht das Problem. Dort gibt es technische
Lösungen für Solarsysteme und Energiesysteme die flüssige Biobrennstoffe nutzen. Finnland hat
entsprechende Technologien und etliche Produzenten, speziell für Heizsysteme die auf Biomasse
basieren Der Unterschied zwischen finnischen und europäischen Biomasseboilermärkten ist, dass
die europäische Systeme integrierte Systeme sind. In Finnland sind Boiler und Brenner sowie
anderes Equipment gewöhnlich separate Geräte, während in Zentraleuropa die Boiler meist
integriert sind. Zudem sind die finnischen Fertigungslösungen in Finnland umfangreich im Einsatz
und funktionieren gut. Die Solarsysteme sind aufgrund der klimatischen Bedingungen nicht sehr
weit verbreitet. Die Heizperiode beträgt ca. neun Monate, von August-September bis April-Mai.
Während dieser Zeit ist die Sonneneinstrahlung nicht hoch genug um Solarwärme als einzige
Wärmequelle zu nutzen. Diese kann während der Sommerzeit für die heimische
Brauchwasserbereitung genutzt werden, ist aber nicht ausreichend als einzige Wärmequelle.
In Hinblick auf die technologischen Rahmenbedingungen auf Malta, so befinden sich Biomasse und
solarthermische Anlagen im „erste Phase“-Status und Ausrüstung und Instrumente müssen
überwiegend aus anderen Ländern importiert werden
Contracting-Projekte, die Biomasse und solarthermische Technologien vereinen sind selten in
Deutschland. Die Installation von solarthermischen Kollektoren ist meist finanziell von Nachteil
trotz staatlicher Subventionen. Zudem sind die Unternehmer meist entweder auf Boiler- oder
Kollektor-Technologien spezialisiert. Nur wenige ESCos nutzen beide Technologien
gleichermaßen. Viele Vertragsakteure erklären, dass sie Biomasse-Contracting zusätzlich zum
Contracting mit fossilen Energieträgern anbieten, während andere auf Biomasse-Contracting
spezialisiert sind. Biomasse-Heizwerke, die mit Hackschnitzel oder Holzpellets betrieben werden,
zeigten sich finanziell attraktiv wenn die Vertragspartner einer langen Vertragsdauer (20 Jahre)
zustimmten. Lange Amortisationszeiten sind nötig um die höheren Investitionskosten für
Biomasseboiler auszugleichen. Nach 20 Jahren bieten die geringeren Kosten für Holzbrennstoffe
einen signifikanten finanziellen Vorteil im Vergleich zu fossilen Brennstofftechnologien. Zudem
sind Biomasseboiler häufig so konstruiert die Heizgrundlast abzudecken, während effiziente
Gasboiler (oder umgebaute bereits existierende fossile Brennstoffboiler) Spitzenlasten abdecken.
Schwedens Biomasse- und Solartechnologie nutzt überwiegend Pellets und Hackschnitzel für die
Raumheizung und Warmwasserbereitung sowie Solarkollektoren für das Heizungswasser.
Im Jahr 2005 war die Mehrheit der ESCos Tätigkeiten in Ungarn auf das Heizen und die
Heißwasseranwendungen fokussiert und erneuerbare Energien machten nur 9% aus. Daher gibt es
Potenzial den erneuerbaren Energiesektor mit Hilfe von ESCos deutlich auszubauen.
In Griechenland sind solarthermische Systeme in Privathaushalten und im Tertiärsektor weit
verbreitet und wirtschaftlich rentable Technologien können leicht in energiesparende ESCo Projekte
integriert werden. Andererseits sind Biomasse Systeme nicht sehr weit verbreitet und es gibt nur
wenige Anwendungsgebiete.
27

Bulgarien ist auf verschiedene Technologien fokussiert (Solar, Biomasse, Hybrid). Vorläufige
Untersuchungen zeigen, dass es geeignete Biomasse und Solar Technologien, Steuerungs- und
Fernüberwachungsysteme sowie vorliegende Leitfäden für Betrieb und Wartung etc. für
BioSolESCo Anlagen gibt.
Bezogen auf solarthermische Systeme in Kroatien sind Vakuumkollektoren effizienter als
Flachkollektoren, jedoch auch um 40% teurer. Aus diesem Grund werden dort gewöhnlich
Flachkollektoren verwendet. Während der Sommerperiode werden ca. 90%, während der
Wintermonate ca. 10% der verbrauchten Wärmeenergie durch Solarkollektoren geliefert Es wird
geschätzt, dass in den küstennahen Gebieten 60-70% mehr Wärme durch Solarkollektoren
produziert werden kann als in den festländischen Gebieten Kroatiens. Daher ist die Platzierung von
Sonnenkollektoren in küstennahen Gebieten sehr geeignet, vorrangig in Gebäuden die das ganze
Jahr genutzt werden und einen erhöhten Wärmeverbrauch auch in den Sommermonaten aufweisen,
wie z.B. Hotels und Krankenhäuser.
Der Biomasse Markt hat sich in Kroatien dagegen noch nicht sehr weit entwickelt. Im Moment
kann nur holzartige Biomasse zu Heizzwecken verwendet werden. Der größte Teil des kroatischen
Waldes befindet sich im Inland, welches für die Nutzung holzartiger Biomasse am günstigsten ist.
Im Inland ist auch die Mehrzahl der Holzverarbeitungsindustrie angesiedelt, dessen Holzreste zu
Heizzwecken verwendet werden könnten. Drei Rohstofftypen werden in Betracht gezogen: Pellets,
Hackschnitzel und Holzscheite. In Kroatien gibt es sieben größere Pellet-Produzenten und alle
exportieren den größten Teil der produzierten Pellets. Holz-Hackschnitzel können bei der Croatia
forest Ltd, der nationalen Gesellschaft für Forstwirtschaft gekauft werden, wobei lange
Vertragslaufzeiten abgeschlossen werden sollten, welche jedoch ein Problem bezogen auf die
automatische Rohstoffzufuhr darstellen. Daher sollten Biomasse-Projekte mit Unternehmen aus
dem Forstsektor oder in Kooperation mit Croatian forests Ltd durchgeführt werden bzw. nahe der
Holzverarbeitungsindustrie angesiedelt sein.
3.2.3 Verfügbare Softwarewerkzeuge
Zur Simulation und Monitoring-Evaluation sowie zur wirtschaftliche Bewertung und flexiblen
Optimierung von Solar- und Biomasse-Anlagen wurde in verschiedenen europäischen Ländern eine
Vielzahl an Software Tools entwickelt. Einige dieser Tools sind für verschiedene Länder gleich,
wie z.B. die Software, die im Rahmen des Intelligent Energy Europe (IEE)-finanzierten Projektes:
“Development of pilot Solar Thermal Energy Service Companies (ST-ESCos) with high replication
potential“ entwickelt wurde.
Das ST-ESCo Software Tool wurde für eine schnelle technische und wirtschaftliche Bewertung von
potenziellen solarthermischen ESCo Projekten entwickelt. Es beinhaltet das Energetische Modul,
ein Simulationswerkzeug basierend auf der TRNSYS Software mit einer benutzerfreundlichen
Oberfläche, bei der der Nutzer alle technischen Daten des solarthermischen Systems zur
Berechnung der Energieproduktion einfügen kann sowie das Ökonomische Modul, welches die
ökonomischen, finanziellen und vertraglichen Analysen durchführt, basierend auf den Ergebnissen
oder der Bewertung der Energieausbeute. Die ST-ESCO Software ist auf der Website des Projektes
erhältlich [34]. Im Folgenden sind einige in den verschiedenen Ländern erhältliche Software Tools
aufgelistet. Viele dieser Tools sind gleich in Leistung und Interessengebiet.
28

• In Bulgarien gibt es die ERATO-2005 Software, welche auf Biomasseenergie-Audits,
Machbarkeitsstudien und Monitoring spezialisiert ist [43] und das ökonomische Software
Tool ENSI (Energy Saving International) [44].
• In Deutschland bieten Energieagenturen und Verbände verschiedene grundlegende Tools
zur ökonomischen Bewertung an. Ein Beispiel ist das Contracting-Tool, welches von der
Energieagentur Nordrhein-Westfalen angeboten wird [39].
• In Portugal ist das SOLTHERM Software Tool zur technischen und ökonomischen
Beurteilung von solarthermischen Anwendungen erhältlich [8].
• Alle finnischen Berichte und Tools sowie Informationsmaterial, welches im Rahmen des
Cubenet / Eurocontract–Projektes erstellt wurde, können auf der Motiva Website
heruntergeladen werden [35]. Die wichtigsten Ergebnisse aus Sicht des finnischen
nationalen Projektplans sowie die Ziele des Eurocontract-Projektes sind im “ESCO-guide”
für Kommunen (ESCO-opas) und in den Berichten “Kunnallinen ESCO-menettely“ (ESCO
Service für Kommunen), „ESCOn sopimusohjelmamalli“ (Ausschreibungsdokumente),
„Puhallinenergiansäästön laskenta“ (Energiesparkalkulationen für Fans), „Riskinjako
Makro-Meso-Mikro“ (Risikomanagement), und „Säästölaskelma“ (Kalkulationen für
Energieeinsparungen) zu lesen.
Dieses Material wurde in einem Projekt genutzt, bei dem vier finnische ESCos Kommunen
kontaktiert haben, um ihren Service zu vermarkten und das Personal in der
Serviceflexibilität von ESCos, z.B. in Sanierungsprojekten zu schulen. Das Projekt wird von
Motiva koordiniert und wird auch vom Handels- und Industrieministerium finanziert.
Motiva schätzt, dass die ESCos bis Ende 2007 (Projektende) 40-50 Kommunen besucht
haben werden
Zudem gibt es seine Software, die für die Simulation der Wirkung von Wärmekraftwerken
entwickelt wurde [36].
Im Rahmen eines Biohaus-Projektes wurde ein Rechner zur Simulation von Heizsystemen
für kleinere Häuser entwickelt [37].
• In Italien gibt es neben verschiedenen Software Tools für erneuerbare Energienquellen,
inbesondere für BioSolESCo, folgende Tools: die „RETScreen Clean Energy Project
Analysis“ Software [41], ein einzigartiges Entscheidungsunterstützungstool, welches durch
Mitwirken zahlreicher Experten der Regierung, Industrie und Wissenschaft entwickelt
wurde. Die kostenlose Software kann weltweit zur Bewertung von Energieproduktion und
Einsparung, Kosten, Emissionsreduktion, finanzieller Wirtschaftlichkeit und Risiko
verschiedener Arten von erneuerbarer Energie und energieeffizenter Technologie (RET)
genutzt werden. Die Software (erhältlich in verschiedenen Sprachen) beinhaltet zudem
Produkt, Projekt, Hydrologie- und Klimadatenbanken, ein detailiertes Benutzerhandbuch
und einen Fallbeispiel-basierenden Trainingskurs auf Fachhochschul/Universitäts-Level
inklusive eines Engineering e-Lehrbuches. Die “Polysun Solar thermal Simulation” [42],
welche die Abschätzung der Energieproduktion und die wirtschaftliche Machbarkeit von
Solarsystemen erlaubt, ist gedacht für Nutzer, die Flexibilität im Design des
solarthermischen Systems mitbringen. Polysun ermöglicht die Kalkulation von
Solarerträgen sowie Energieeinsparungen und gibt eine akkurate Kostenanalyse.
29

• Die HEP ESCo in Kroatien nutzt ökonometrische Programme um die Kosten für
Vorbereitung und Umsetzung eines Projektes zu kalkulieren. Zudem haben sie in vier
Schulen zentrale Überwachungs-Betriebssysteme (Centralni-Nadzorni-Upravljački system –
SNUS) installiert. Diese bestehen aus der SCADA Software, der ein Modul zur
Überwachung, Mitteilung und Überprüfung der Einsparungen beigefügt ist.
Betriebsanzeigen sind auf dem Zubehör installiert, was einen Datenempfang in Echtzeit
ermöglicht.
3.3 Gesammelte Erfahrungen - Lessons learned
Die Erfahrungen, die von erfahrenen Ländern (wie Deutschland und Belgien) gesammelt werden
konnten sind hier zusammengefasst:
• Energieagenturen (und andere Organisationen) bieten z.B. Kommunen ihre Expertise und
Unterstützung an, um Contracting-Projekte zu realisieren, was wichtig für die verstärkte
Aufnahme von Contracting-Projekten ist;
• Ein gut organisierter Contracting-Geschäftssektor ist notwendig, um Informationen zu
Contracting-Projekten bereitstellen zu können, Lobby-Arbeit zu betreiben, um Gesetze
anzupassen und Definitionen und Prozeduren zu standardisieren, um Empfehlungen
auszusprechen und dem Sektor Instrumente an die Hand zu geben. In Deutschland führen vier
Verbände diese Aufgaben durch; 1
• Die Etablierung eines klaren gesetzlichen Rahmens, in dem alle vertragsrelevanten Details
reguliert werden, wird als wichtig angesehen, da Unklarheiten, die aus einem unklaren
Rechtsstatus resultieren das größte Hindernis in der verstärkten Aufnahme von Contracting-
Projekten darstellen;
• Unternehmer, die die gesamte Palette an Technologien und Brennstoffen anbieten können,
abhängig von der Projektsituation, das effektivste Konzept liefern;
• Contracting ist bei kleineren Projekten mit geringen Investitionen meist nicht durchführbar; Der
Zusammenschluss von Gebäuden ist ein probates Mittel um das Projektvolumen zu erhöhen;
• Standardisierte Messungen und Überprüfungsverfahren sind notwendig;
• Projektrisiko-Vorhersagen und klare Risikoanalysen sind notwendig;
• Eine stärkere Sensibilisierung der Öffentlichkeit für ESCo Projekte und deren ökonomische und
ökologische Vorteile ist nötig
1 VfW (www.energiecontracting.de); ESCO Forum im ZVEI (www.zvei.org); PECU (www.pecu.de); Forum
Contracting (www.forum-contracting.de).
30

Referenzen
[1] “20 20 by 2020 - Europe’s climate change opportunity”, Communication from the Commission,
COM(2008) 30 final.
[2] “Action Plan for Energy Efficiency: Realising the Potential”, Communication from the Commission,
COM(2006) 545 final.
[3] “An Assessment of on Energy Service Companies (ESCOs) Worldwide”, WEC ADEME project on
energy efficiency policies, Diana Ürge-Vorsatz, Sonja Köppel, Chunyu Liang, Benigna Kiss, Gireesh
Goopalan Nair, Gamze Celikyilmaz, Central European University, 2007
[4] Alter, M., Contracting-Verträge richtig gestalten - Messung und Abrechnung; Rechtsanwälte Strunz,
Winkler, Alter
[5] “Renewable Energy Road Map – Renewable energies in the 21 st century: building a more sustainable
future”, Communication from the Commission, COM(2006) 848 final.
[6] ADEME 2003.
[7] ADEME 2006.
[8] ADENE 2009, persönlicher Kontakt mit Marco Correia und Pedro Mateus.
[9] Andrea Renda and Lorna Schrefler, “Public – Private Partnerships National Experiences in the European
Union”, Centre for European Policy Studies, Brüssel 2006.
[10] Asko Puhakka, North Karelia University of Applied Sciences: “Business models of heat
entrepreneurship” erhältlich unter:
http://www.northernwoodheat.net/htm/news/Scotland/tomintoulconf/askopuhakka.pdf
[11] Benigna Kiss, Paolo Bertoldi and Silvia Rezessy: “Latest developments of the ESCo industry across
Europe”, Conference proceedings, eceee Summer Studies 2007
http://www.eceee.org/conference_proceedings/eceee/2007/Panel_2/2.225/
[12] Business models of heat entrepreneurship, Asko Puhakka, North Karelia University of Applied
Sciences, http://www.northernwoodheat.net/htm/news/Scotland/tomintoulconf/askopuhakka.pdf
[13]
[14]
Dupont und Adnot, 2004.
Edward Vine, “An international survey of the energy service company (ESCo) industry”, Energy Policy
33, 691-704, 2005.
[15] Herter, Contracting aus Bankensicht, SAB Sächsische AufbauBank, 2006.
[16] Implementing the Energy Services Directive 2006/32/EC: State of Play,Anita Eide, Energy Efficiency
Unit, Experten-Workshop, Dena, Berlin, 10. Dezember 2008.
31

[17] Paolo Bertoldi, Silvia Rezessy, European Commission, DG JRC, Institute for Environment and
Sustainability, renewable Energies Unit, “Energy Service Companies in Europe”, Status Report 2005.
[18] Paolo Bertoldi, Benigna Boza-Kiss, Silvia Rezessy, Institute for Environment and Sustainability, JRS
Scientific and Technical Reports: “Latest Development of Energy Service Companies across Europe –
A European ESCO Update”, 2007.
[19] “Public – Private Partnerships National Experiences in the European Union”, Andrea Renda and Lorna
Schrefler, Centre for European Policy Studies, Brüssel 2006.
[20] REACT - Renewable Energy Action – Altener 2002-157,
http://www.senternovem.nl/mmfiles/Biomass%20Heat%20Entrepreneurship_tcm24-116958.pdf
[21] REACT - Renewable Energy Action – Altener 2002-157,
http://www.senternovem.nl/mmfiles/Biomass%20Heat%20Entrepreneurship_tcm24-116958.pdf
[22] Stoppa, F., Wärmecontracting, Verband für Wärmelieferung (VfW), 2009.
[23] Swedish Energy Agency, Energy in Sweden 2008.
[24] http://ase.org/contenct/aticle/detail/1292
[25] http://www.autorita.energia.it/ee/schede.htm
[26] http://ec.europa.eu/climateaction/docs/climate-energy_summary_en.pdf
[27] http://ec.europa.eu/climateaction/docs/climate-energy_summary_en.pdf
[28] http://europeandcis.undp.org/.../SLF%20Loan%20Guarantee%20Note%20Draft%20v1.5.doc
[29] http://www.business2hungary.hu/engine.aspx?page=Itdh_Priority_Sectors_Renewable_Energy
[30] http://www.energiakozpont.hu/index.php?p=181
[31] http://www.energiateolisuus.fi
[32] http://www.esd-ca.eu/CA-ESD/CA-ESD-Introduction
[33] http://www.sefi.unep.org/fileadmin/media/sefi/docs/publications/RiskMgt_full.pdf
[34] http://www.stescos.org/
[35] http://www.motiva.fi/fi/toiminta/escotoiminta/cubenet/
[36] http://www.knowenergy.net/lampokeskus/
32

[37] http://www.biohousing.eu.com/heatingtool/Default.asp?lang=eng
[38] http://www.ebrd.com/new/pressrel/2009/090604.htm
[39] http://www.energieagentur.nrw.de/contracting/
page.asp?InfoID=6368&rubrik=&termin=&TopCatID=&RubrikID=
[40] europeandcis.undp.org/.../SLF%20Loan%20Guarantee%20Note%20Draft%20v1.5.doc,
[41] www.retscreen.net
[42] www.solarenergy.ch
[43] www.erato.bg
[44] http://www.ensi.no/software
[45] http://www.st-escos.info/short_report_st/short_es.pdf
[46] http://www.ebrd.com/pages/news/press/2011/110721.shtml
[47] Marino A., Bertoldi P., Rezessy S., Boza-Kiss B.‘A snapshot of the European energy service market in
2010 and policy recommendations to foster a further market development’ Energy Policy39 (2011)
6190–6198.
[48] Angelica Marino, Paolo Bertoldi, Silvia Rezessy, “Energy Service Companies Market in Europe –
Status Report 2010”, Institute for Energy, Joint Research Centre.
[49] EPC markets and ESCO business in Finland. 2007. Motiva
[50] http://www.motiva.fi/julkinen_sektori/tuet_ja_rahoitus/esco-palvelu/esco-hankerekisteri/
[51] „Portugal Efficiency 2015” version for public consultation- Februar 2008 erhältlich unter:
http://www.adene.pt/NR/rdonlyres/1A510789-1032-4180-8A7B-
798B0DDA2F92/828/Portugal_EnergyEfficiencyPlan2015Support.pdf
[52] personal contact: Corneliu Rotaru, Romanian Agency for Energy Conservation – ARCE, 2009
[53] http://www.mondaq.com/unitedstates/article.asp?articleid=124286
[54] Energy Efficiency Profile: Spain, Odyssee, June 2011
http://www.odyssee-indicators.org/publications/country_profiles_PDF/esp.pdf
33

1 Austria
Annex I
1.1 Legislative, financial, contractual and marketing framework
The Austrian TPF/EPC-market can be characterised as a market which has already passed the startup
phase, grows gast but still has to grow and to develop in order to become a standard market with
standard procedures.
1.1.1 Legal background for TPF and ESCos
In order to attain the ambitious goal to reduce emissions of the six "Kyoto-greenhouse gases" by 13
% by the target period 2008 to 2012 as compared to the 1990 values, the National Council adopted
an "Austrian Climate Strategy 2008/2012" (http://www.accc.gv.at/englisch/e-strategie.htm),
combining the efforts on the part of
the Federal Government and the Laender into a co-ordinated strategy. The Climate Strategy is the
basis for different special programmes.
In Austria the legal framework conditions for TPF projects are the same as for every other legal
contract. However, difficulties can occur by awarding performance contracts. The law of public
procurement regulates the award of contracts by contracting authorities on the basis of a ”model
approach”. In case of a private purchaser, the project in question can be negotiated and awarded
without the obligation to observe the provisions of the law of public procurement.
The measures taken in connection with a more efficient supply and utilisation of energy are various
and diverse. This results in a variety of different implementation "models" and consequently leads
to a range of different goods and services offered. This in turn determines the type and number of
the parties involved, the required contracts and the types thereof, the financing terms, equipment
ownership and future purchase options etc.
The general legal framework for contract awarding by public clients can be assessed as
“predominantly positive”. On principle, the regulations for awarding contracts do not provide any
obstructions for the use of energy services by public clients. There are certain “problem areas”,
however, such as classifying Third Party Financing projects within certain categories of orders. It is
therefore recommended that attention is paid to the relevant legal framework during the
organisation of the project.
The law of public procurement is the dominating law within the legal framework conditions for
Energy Performance Contracting (EPC) and Third Party Financing (TPF). At least public
authorities, who want to increase the energy efficiency of their buildings and who were the main
target group for EPC and TPF until now, have to follow this Law.
However, among public authorities the phenomenon of legal uncertainty frequently occurs with
regard to the award of performance contracts. The law of public procurement regulates the award of
contracts by public authorities on the basis of a “model approach”. In case of a private purchaser,
the project in question can be negotiated and awarded without the obligation to observe the
provisions of the law of public procurement.

The framework conditions for a broad application of the concept of TPF/EPC in the public building
sectors are comparably favourable: On the one hand nearly all public authorities face the problem
that only very limited and by far not sufficient means of financing are available for the necessary
replacement, modernisation and optimisation investments – even when they are cost-effective. The
target of the Maastricht criteria puts increasingly narrow limits on public budgets. On the other hand
a number of studies and realised projects show that energy services could be provided in a much
more efficient way by means of modern heating systems, energy management systems, thermal
insulation, efficient lighting etc. Energy saving potentials in public buildings are up to 50% and
more and a considerable share of it can be implemented cost-effectively. However, these energy
saving potentials are only put into practice to a small extent. TPF/EPC offers a promising solution
to this dilemma.
This background given a broad set of information and marketing initiatives – starting in about 1996
and done by a lot of different players, i.e. energy agencies, ministries, consumer associations,
banks, associations of building owners etc. – the concept of TPF/EPC was presented to a relatively
large share of building owners, where a mjor focus has been on municipalities. For example: Each
municipality in Austria received a 20- pages-brochure indicating the general concept and
opportunities of TPF/EPC and also describing successful projects in Austria.
Furthermore various activities have been developed, which target towards setting up resources for
advising potential TPF/EPC-customers that are interested in the application of TPF/EPC for the
energetic improvement of their buildings. Only to give some examples:
– E.V.A., the Austrian Energy Agency, worked out TPF/EPC-guidelines, that deal with the issues
of project design, building selection, tender procedures, design of TPF/EPC-contracts etc. in detail.
These guidelines are targeted mainly at the use of consultants that are en gaged in advising
interested (public) building owners;
– From the Internet-Website of E.V.A. a list of ESCOs can be downloaded. This list, which
includes priority activities of the ESCOs as well as references, is aimed at improving the market
transparency and at making easier the access of potential TPF/EPC-customers to suppliers. At the
moment the list includes about 35 companies, of which, however, only 8 to 12 offer TPF/EPC in a
comprehensive way (integration of energy supply and demand). The other companies offer their
services only in the field of heat delivery and energy supply contracting.
– Advice and direct consultancy in concrete projects has turned out to be even more important than
written guidelines and other supporting material. This is also true for public building authorities,
which usually lack time and sometimes also expertise to busy themselves with TPF/EPC in theory
and practice. This background given, in Austria a – so far small but existing – network of
consultants, that are able to support potential and interested TPF/EPC-clients, has developed during
the last 3 to 4 years. The core of this network consists of energy agencies at the national as well as
at the regional and local level, but includes also some departments of public administrations (e.g. in
Styria and in Vienna).
Legal Background Austria
As refers to EPC in public buildings there exist still some uncertainties regarding the
question of how to award energy performance contracts correctly according to the legal norms of
public tendering. It is important to stress that although there are some national and sometimes also
regional differences concerning this issue, it is most important to comply with Community Law, i.e.
the European Directive on Public Tendering.

In 1999 E.V.A., the Austrian Energy Agency, has called for a legal opinion7 on the compatibility of
energy performance contracting models with the general legal framework for awarding contracts in
the field of public administration with special focus on Community Law.
As the results show, the general legal framework for contract awarding by public clients can be
assessed as "predominantly positive." On principle, the regulations for awarding contracts do not
provide any obstructions for the use of energy performance contracting by public clients. There are
certain "problem areas", however, such as classifying energy performance contracting projects
within certain categories of orders. It is therefore recommended that attention is paid to the relevant
legal framework during the organisation of the project.
In order to be able to take advantage of a competition of prices and ideas, it is suggested, in
particular for larger projects, that a "two-step procedure" is applied when awarding energy
performance contracts.
Step 1: To publicly assess the field of potential applicants before starting the actual awarding
procedure. In this way, the client will both get to know the tenderers on the
market and be able to eliminate non-suitable tenderers at the same time. This helps to reduce the
work regarding the assessment of in-coming offers (Step 2).
Step 2: Inviting suitable companies to submit a tender and subsequent start of contract negotiations.
Financial institutions and schemes
The very first biomass tri-generation plant in Austria was built in Ried/Upper Austria for the
companies Fischer GmbH and FACC GmbH and produces heat, cooling and electricity from
biomass for the companies' production of ski and aeroplane components. About 26,000 MWh heat,
1,000 MWh cooling and 2,500 MWh electricity are generated from biomass annually. Financing
was done by a third party financing scheme, the total investment amounted to 3,634,000 €.
Project in Graz:
The pilot project realised in the City of Graz can be classified as a medium scale project, where the
building owner shifted the major part of responsibilities with respect to energy management to an
outside company (“outsourcing intensity”). The final output of the project is a completely “new”
building which is operated and maintained by the ESCo under the aspect of high energy efficiency.
The ESCo has to guarantee the saving effect, which it promises in its offer during the whole
duration of the contract.
Due to the high share of necessary refurbishment measures it is clear, that energy savings can
refinance only a part of the necessary investments, which have been to a considerable part
predefined by the building owner himself. The approach chosen, however, ensures an optimal costbenefit
relation with respect to investment cost and their effects on the running (energy) costs.

Figure 1.1 TPF-Model of the Webling/ Jaegergrund schools, Graz.
Figure 1.2 Contractual relationships.
Calculation of Energy Savings
In order to avoid later discussions, the tariff conversion from electrical to district heating had been
anticipated in the baseline setting. Thus, much of the saving potential was already accounted for in
the baseline, which was set to 58,939 Euro (original energy cost on the basis of electrical heating
was 84,000 Euro, 20% VAT included). Energy savings are later calculated from the invoices of the
heat and power providers. The energy quantities of the heating invoices undergo a correction for
climate changes (climate correction). The quantities are then multiplied by the reference prices of

the baseline year (price correction). Changes in the usage of the building (e.g. changes in opening
times, evening classes etc.) are taken into consideration on a negotiation basis, if their estimated
influence on energy costs exceeds 700 Euro.
Figure 1.3 Calculation of energy savings.
1.1.2 Barriers
Insurance Schemes in Austria
One typical insurance package includes all damages by windstorm, fire and hailstorm. This package
is usually always included in an ESCO insurance model. It is not very expensive and covers a high
damage event. Another typical type of insurance is an insurance against vandalism (malicious
destruction of the solar plant or its components).
The insurance value of these two packages should be equal to the nominal value of the system, i.e.
equal to the total investment cost of the solar plant.
Usually, solar thermal plants are also insured against lightning. This type of insurance is often a first
loss insurance, so the cost of a claim can be defined between the insurance holder (the ESCo) and
the insurer. For first-loss covers, no underinsurance is possible in the case of damage (waiver of
underinsurance on part of the insurer).
For the lightning insurance, it is particularly important for the ESCo to assert that the solar system
supplier has provided all necessary electrical and / or electronically means of protection for the
solar system!
An insurance against flood damages is only needed in areas which are easily affected by
inundations, but in those cases it generally makes sense to sign such insurance, so this can be an
insurance type often signed by an ESCo.
As every company will probably already have, a public liability insurance is important also for solar
thermal ESCos. This insurance covers all damages to a third party.
However, it might be worth also including insurance coverage against environmental damage or
loss (some environmental damage done directly to air, water, soil,…), roof damage (in case the
solar system is placed on top of some building roof) and gradual loss (i.e. all damages by long-term
action of some detrimental event on the system leading to gradual or also sudden failure).
Usually, public liability insurances can be easily included in an insurance pool that contains this
same type of insurance for more than one solar plant. Of course, in this case, the insurance sum has
to be adapted to the new situation.

In other cases, it results to be cheaper to sign a separate insurance policy for every single plant, and
not for a whole bunch of plants. This might be the case for the windstorm, fire and hailstorm
insurance.
A type of insurance which can be quite important for an ESCo is a loss-of-use insurance, in the case
no energy can be delivered by the solar plant due to some system malfunction of failure. This type
of insurance covers all ongoing costs of the company or the solar plant. But – more important – it
also covers the loss of profit for not being able to sell energy.
In the occurrence of the event insured, most insurances cover the additional work and expense (and
financial outlay) that the ESCo has to bear in order to supply energy to the customer. The
importance of this fact depends on the contents of the energy supply contract. Thus, a loss-of-useinsurance
is much more important if the ESCo is committed to deliver a certain amount of energy to
the customer, i.e. the ESCo has a delivery obligation. The loss-of-use-insurance is less important if
the ESCo has only agreed upon a right to deliver the solar energy to the customer.
In the former case (commitment of delivery), in the damage event, the ESCo would have to take
over all the additional costs for supplying the amount of energy to the customer which has been
agreed upon in the energy supply contract. In the latter case (right to deliver), the ESCo damage is
limited to a loss of earnings and maybe to some technical disadvantage due to the collector
stagnation, but the ESCo does not need taking over the costs for the energy supply to the customer.
1.2 Technical framework
1.2.1 Quality and monitoring
The contracting partner is bound to four contractual guarantees, explained in the following:
1. Quality
2. Comfort (Heating)
3. Cost reduction
4. On investment in worth and structure
1. Guaranty on quality
Quality is essential to the conception of Thermoprofit®. Quality checks are present at several stages
of the contract. In a first stage, during the bidding procedure, the tendering documents contain
detailed engineering plans and descriptions of the most sensible parts of the project, of which the
building owner deems necessary to define the execution standards by himself. These execution
standards are not left to the free choice of the contractor.
In addition, the contractor provides information about the products he will use and the subcontractors
he intends to work with. In a second stage, the way in which the construction works
become part of contract negotiations and is fixed by protocols. In a third stage, after signing the
contract, the contractor submits detailed engineering plans for every construction measure, which
have to be approved by the building owner before going into execution. The building owner agrees
to the plans by countersigning them. They later become annexed to the contract. The building
owner has a veto option if the plans or quality standards do not match the descriptions fixed in the
tendering documents or during contract negotiation. In a last stage, construction quality is checked
by the building owner during site visits and a formal hand-over is done.
2. Guaranty on comfort

Comfort standards are guaranteed by the contract. Penalties ensure that prescribed room
temperatures are kept and emergency services are provided in cases of breakdowns.
3. Guaranty on cost reduction
A financially guaranteed cost reduction is a key element in the Thermoprofit® contract. By signing
the contract, the contractor guarantees a certain amount of energy costs to be saved. The guaranty is
fixed with reference to the baseline. The baseline resumes the original energy costs during a
representative year and contains the reference energy prices for the contract time.
Besides the height of the annual contracting rate, the financial guaranty on energy cost reduction is
the second most important selection criterion for the offers..
After completion of all construction works, the contractor must reach the cost reduction he had
guaranteed. If he fails to do so, his contracting rate is lowered by a penalty. The penalty corresponds
to the amount of energy costs he failed to save (see Figure 6 below).
In turn, if the contractor surpasses his energy saving guaranty, he is rewarded by a bonus- share on
the extra amount saved.
4. Guaranty on investment in worth and structure
At the moment the contract is signed, detailed plans do not exist for every construction measure the
partners have negotiated. However, the result of negotiations should be a clear conception of the
construction works and the desired products, sub-contractors and quality standards. Thus, it is
possible to the contractor to assess his investment by costs and structure.
The contractor now gives a guaranty on the amount he intends to invest in each of the following
categories:
• for hardware (e.g. material, machines, buildings)
• engineering services
• other services (e.g. motivation measures like classes on energy saving, emergency services,
etc.)
The investment amount is later audited by the building owner by checking the plans for each
measure (as stated above, the engineering plans have to pass his approval before coming to
execution). The engineering plans contain all necessary detailed cost and price information,
allowing the building owner to asses the worth of the investment9. If the building owner should
come to the conclusion that investment cost of the measure is not corresponding, in value or quality,
to what was initially agreed upon, he may check the detailed prices and refuse to countersign the
plans as long as the matter has not been cleared. It is also possible to the building owner to refuse to
sign the hand-over after completion of the investment in cases the execution is not achieved with
the predefined quality standards.
As long as the engineering plans/drawings and hand-over documents are not countersigned, the
investment does not count as contract fulfilment. In consequence, the contracting rate is lowered by
the share of hardware investments the contractor fails to fulfil (see example in the Figure below).

Figure 1.4 Contractual Investment guaranty.
Methodology for billing the solar yield
In Austria, the solar yield of solar thermal plants is measured with the aid of ultrasonic heat meters
installed in the systems. To actually measure the solar energy delivered to the customer, the heat
meter is installed in the secondary circuit (i.e. after the heat exchanger solar to the customer). The
ultrasonic heat meters are the technical state of-the-art today: they contain no moving parts, are
therefore non-wearing and have long durability, and that means little maintenance costs for the
ESCo.
In district heating solar plants, the energy delivered to the customer is automatically measured by
means of a tele-monitoring system. Then, it is charged to the customer by means of an energy bill
about once every month (in summertime) or once every 2 months (in wintertime). A fully-automatic
billing program would be a desirable development.
There are three different schemes for billing the solar energy between the customer and the ESCo.
Most schemes which are implemented in real projects follow one of these schemes or a mix of
these:
Energy price only: the customer pays a certain energy price per kWh of solar thermal energy. The
energy is usually billed once every month or once every two months. This means that the payback
for the ESCo works only by means of the energy sold, and a big share of the customer’s payments
arrive in summertime. Usually, for domestic hot water the ESCo and the customer agree for a
different summer and winter price (summer price higher, as conventional boiler systems have lower
efficiency in summertime, thus specific end energy prices are higher). Usually for space heating the
energy price is every month the same. This scheme is generally favourable for the customer.
Monthly amount charged to customer2: MA = SEm × SEPh
Energy price and basic price: Additionally to the cost per kWh, the customer is also charged a basic
monthly price which he is asked to pay regardless of the energy delivered. In return, the energy
price for the kWh of solar energy is lower. This model

provides some more security for the ESCO as it will get the monthly payments in any case.
Moreover, the ESCO gets some money out of the system also in wintertime, when the earnings
based on the solar energy output are close to zero.
Monthly amount charged to customer3: MA = BP + SEm × SEPl
Energy price and connection fee: Similar to the installation fees which a customer is charged for
being connected to a district heating net, in this scheme the customer pays (some share or 100% of)
the installation cost of the system. This amount of money is often denominated a connection fee and
may be calculated based on the kWh delivered per year or based on the installed collector area and
system design. In return, the energy price for the customer is reduced, so the ESCO needs to
perform a very thorough economic feasibility calculation.
Monthly amount charged to customer: MA = SEm × SEPl
Connection fee has to be paid once at the delivery of the solar plant. The solar energy price is
usually linked to the consumer price index (general index which reflects the course of the inflation);
this does generally not create any problems in the financial negotiations. With the current
development of the world’s primary energy prices in mind, it is also a good idea to link the solar
energy price to the price of oil or gas. Here is one possible model: the oil price of a defined date is
taken as reference, and every month (or every year) the oil price increase is measured relating to the
reference date. The solar energy price may be increased by a certain percentage
of this oil price increase.
1.2.2 Software tools available
Programmes like PolySun, TSOL or TRNSYS allow to produce more refined correlations between
the expected system yield, the radiation, the load and other relevant quantities. Such correlation
allows better assessing the actual efficiency of solar heating systems. This kind of verification can
be automated and implemented into the controller software.
1.3 Lessons learned
One practical technical aspect learned is the following: the person responsible for the maintenance
(from the ESCo’s side) should have relatively easy access to the plant (e.g. up to 100 km distance).
Delegate this responsibility to a third person is possible only if he is an expert on solar thermal
plants. The same is valid for the operational responsibility: count on a third person (e.g. a technician
from the End-user’s side) for crucial technical operational aspects, could generally create problems.
One “lesson learned” concerning formal aspects is that there must be a guarantee in an ESCo
contract in the case the End-User is unable to pay (e.g. bankrupted). This problem could be
overtaken with a “Bank Guarantee” initially provided by the End- User. From a technical point of
view, the most common example of failure is an incorrect freezing protection. This is, most often,
strongly connected with the stagnation protection of solar thermal plants. What happens during
stagnation (i.e. the condition of available solar radiation but no thermal load), in brief, is that the
antifreeze primary loop liquid becomes a vapor and, consequently, the pressure increases. If the
system is not designed properly, some relief valves may open (due to the high pressure), thus
resulting to some loss of antifreeze liquid. If there is an automatic refill valve (as unfortunately
happens in many solar systems), this will cause the introduction of water into the primary circuit,
thus decreasing dramatically its antifreezing properties. The correct dimensioning of the solar plant

components in order to face stagnation, the absence of any automatic refill valve in the primary
circuit and the use of the correct antifreeze liquid are the measures to take in order to avoid the
above problem.

2 Baltic countries: Estonia, Latvia, Lithuania
ESCO markets in the Baltic Countries are hardly developed and information therefore is hard to
come by. The JRC reports 1,2 basically are the only published source of information.
The number of active ESCOs and the level of activity in these countries are hard to estimate
because of confusion concerning different definitions of ESCO concepts and a trend to call a wide
range of companies “ESCO”. Many companies offer energy audits or other consultancy services
and are characterized as ESCO.
According to the JRC reports (2005 and 2007) there were:
• 3-5 companies offering ESCO-related services in Lithuania (2005). In 2007, 6 ESCOS or
ESCO-type companies were working in Lithuania;
• 20 companies offering general energy services in Estonia (2005). In 2007, 2 companies
offering ESCO services as a minor business area. These two companies are the only entries
available in the JRC ESCO database 3 ;
• More than 40 companies working with energy delivery contracts and two companies
offering EPC in Latvia (2007).
The ESCO and DH sectors are often mixed in terms of definition. There are several international
companies present in the markets but they are mainly involved in DH projects. Especially Dalkia is
present in all three countries with a number of subsidiaries. Litesko is one of these subsidiaries in
Lithuania, having signed long-term DH leasing contracts with 7 towns and a total investment of
€ 8.7 million 4 .
Another publication 5 lists several companies with “a certain experience” in Delivery Contracting or
EPC:
• Energiasäästubüroo (www.energiaaudit.ee) and SEIT (www.seit.ee) in Estonia;
• SIA Wesemann, SIA Sinhro (www.sinhro.lv) and SIA Ekodoma (www.ekodoma.lv) in
Latvia;
• UAB E-energija (www.e-energija.lt) and UAB Naujoji siluma (www.newheat.lt) in
Lithuania.
However, comprehensive descriptions of relevant reference projects are not available and therefore
the achieved level of ESCO experience remains unclear.
The overall background is similar in the three countries: There is a basic awareness of energy
efficiency issues and Governmental support programmes are in place. On the other hand,
knowledge concerning the rather complicated ESCO schemes is limited at the customers´side.
Especially in Estonia ESCOs face the additional problem that low-interest loans are available to
1
Bertoldi, P. & Rezessy, S.; Energy service companies in Europe – Status report 2005; JRC; 2005.
2
Bertoldi, P. et al.; Latest Development of Energy Service Companies across Europe - A European ESCO Update; JRC;
2007.
3
http://sunbird.jrc.it/energyefficiency/ (accessed June 2009).
4
Štreimikienė, D et al.; Review of instruments for promotion of energy efficiency in Lithuania; Lithuanian Energy
Institute; 2007.
5
Herdová, B. et al.; Financial resources manual; IEE project CF-SEP (Commercial Finance for Sustainable Energy
Projects);

housing associations and that municipalities are able to finance efficiency project with e.g.
structural funds.
Banks in these countries are basically interested in financing ESCO projects so that financing is not
the major barrier to further uptake of ESCO schemes. It is more the lack of example projects and
therefore established processes that hinder the market development. Unstable and not well defined
regulatory frameworks as well as unfavourable procurement procedures contribute to slowing the
initialisation of market growth.

3 Belgium
3.1 Legislative, financial, contractual and marketing framework
3.1.1 Legal background for TPF and ESCos
Belgium’s Kyoto Protocol objective states a greenhouse gases emission decrease of 7.5% between
2008 and 2012 compared with their 1990 levels. The Flemish Government have decided that by
2010, 6% of all gross energy consumption should be generated from renewable energy sources. No
objective concerning heat from renewables has been outlined, neither by the Federal Government,
nor the Flemish Government.
In 2004, Flanders has translated its Kyoto Protocol emission targets into the REG Decree. The REG
Decree creates a framework for the promotion of sensible energy use, the use of renewable energy
sources and so-called flexibility mechanisms. A result of the REG Decree is the Energy Plan,
which contains a list of measures to reduce energy use of organisations with an annual energy use
exceeding 0.1 PJ.
3.1.2 Financial institutions and schemes
The VEA (Flemish Energy Agency) carry out the Flemish government’s sustainable energy
policies. Their most important tasks are stimulating sensible energy use and contributing in the
execution and support of policy. The VEA are an independent agency cooperating with the Flemish
Department of Environment, Nature and Energy (LNE).
The VREG (Flemish Regulation Entity for the Electricity and Gas market) are a Flemish
government entity that take care of the regulation, control and promotion of the transparency of the
electricity and natural gas market in the Flemish Region. The VREG are connected to the Flemish
Department of Environment, Nature and Energy (LNE) as well.
For biomass and solar heat related enterprising, there are a number of financial support
mechanisms. The VEA web site contains a very practical search engine for grants:
http://www.energiesparen.be/subsidies/subsidiemodule. Unfortunately, the web site is in Dutch
only.
The Raised Investment Deduction for Energy Saving Investments (“Verhoogde Investeringsaftrek
voor Energiebesparende Investeringen”) is a financial incentive from the Federal Government
(Federal Public Service Finance) to improve the recovery of existing installations and to promote
the use of renewable energy sources. For 2009, companies are allowed to deduct 15.5% from their
taxable profit. One can apply for this grant at the VEA.
The Ecology Premium (“Ecologiepremie”) is remitted to investments that reduce the environmental
burden on production processes, also biomass conversion by incineration, pyrolysis and
gasification. The Ecology Premium applies only if the environmental benefit exceeds the
government requirements. The remuneration for small and medium-sized enterprises is 35% of the
extra costs of their investments. Large enterprises receive 25% of the extra costs of their
investments.
Investment Deduction (“Investeringsaftrek”) is a tax benefit that applies to energy saving measures.
To date, 14.5% (excluding VAT) can be deducted from the company’s profit, which yields a lower
profit tax (currently around 33%).
Support of the Flemish Agriculture Investment Trust (VLIF): Farmers can have 40% of their
biomass conversion investment costs remitted by the VLIF.

Green Energy Certificates (“Groenestroomcertificaten”): Every year energy suppliers are obliged to
deliver a certain share of green energy. A Green Energy Certificate proves that they have met their
obligations. By generating green energy, one can request a Green Energy Certificate for every
generated MWh at the VREG. One can sell the certificate to an energy supplier against a minimum
price, guaranteed by the Flemish Government, of €80.
Cogeneration Certificates (“Warmtekrachtcertificaten”) are of the same principle as Green Energy
Certificates. For a certain share, energy suppliers are obliged to deliver energy and heat from
cogeneration, for which they receive a Cogeneration Certificate. If they fail to do so, they receive a
€45 fine per certificate. Cogeneration Certificates are to be requested at the VREG. The primary
energy offset is calculated with regard to a thermal and electric reference recovery, which depends
on the type of fuel.
3.2 Technical framework
3.2.1 Quality and monitoring
Energy Performance Directive (“Energieprestatieregelgeving”): From 1 January 2006 onwards, all
dwellings for which building or renovating requests are filed, have to meet a certain level of thermal
isolation, energy performance (isolation, energy-saving heating installation, ventilation, etc.) and a
healthy indoor climate. Tightened conditions will come into force on 1 January 2010.
Audit Convenant: Companies that join the Audit Convenant accept an energy audit to indicate their
energy-saving potential. They also engage in profitable energy-saving measures. As a
compensation, the Flemish Government exempts these companies from additional energy and CO2
reduction requirements.
Benchmarking Convenant: To join the Benchmarking Convenant, a company has to have an annual
energy consumption over 0.5 PJ. These companies benchmark their energy efficiency measures to
other big energy consumers. From the findings, new energy efficiency objectives will be drawn.
Companies receive compensation from the government for this procedure.

3.2.2 Appropriate technology for Bio-Sol-ESCos
The next statistics should give an indication of recent use of thermal energy from biomass and solar
panels in Flanders. In a 2009 research on sustainable energy in Flanders in 2007, conducted by
VITO (Flemish Institute for Technological Research), the following numbers regarding green heat
production have come forth:
warmte
Thermal energy (GJ) With regard to total heat
production (%)
Green heat production by
3,073,847 8.2
cogeneration installations
Energy and heat sector 1,131,454 5.8
DIY producers 1,942,393 10.8
• Industry 1,736,518 10.5
• Tertiary sector 92,566 47.5
• Agriculture 113,309 9.6
Green heat production by
6,653,940 1.6
thermal installations only
Biomass installations in
industry/tertiary
sector/households/agriculture
6,338,044 1.5
• Industry 3,042,267 1.6
• Tertiary sector 40,859 0.1
• Households 2,848,707 1.7
• Agriculture 406,212 1.7
Heat pumps 277,890 100
Heat pump boilers 339 100
Solar boilers 37,667 100
Total green heat production 9,727,787 2.1
Table 3.1 Green heat production – Flanders, 2007
Table 1 displays the amount of thermal energy produced by different ways of production, and their
shares with regard to the total heat production per production type in Flanders in 2007. A large
share, 47.5%, of all thermal energy produced by cogeneration installations in the tertiary sector, is
generated from biomass. The amount of thermal energy produced in absolute terms, 92,566 GJ, is
rather small (3%) compared tot the total amount of green heat production by cogeneration
installations, 3,073,847 GJ. Solar boilers, for instance, produce 37,667 GJ. This barely amounts to
0.01% of Flanders’ total heat production (all fuels, also non-renewables), which is 436,006 TJ,
displayed in table 2. It also shows that in Flanders most of the heat is generated by conventional
fuels like gas (46%) and petroleum products (27%). Biomass, which practically all green heat is
generated from, takes a marginal position of 2%. 32% of all green heat is produced by cogeneration
installations. The remaining 68% is produced by installations that produce heat only from biomass,
heat pumps, heat pump boilers, and solar boilers. Because of large waste incineration plants, 8.2%
of all heat produced is green heat.

Fuels Heat production
TJ %
Solid fuels 55,599 12
Petroleum products 126,107 27
Gas 214,843 46
Other fuels 53,892 12
Biomass 9,412 2
Waste recuperation 2,837 1
Total 463,006 100
Table 3.2 Total heat production – Flanders, 2007.
Table 3 displays the important positions of waste and wood as fuels of green heat production by
cogeneration. Together, they comprise more than half of all heat production.
Fuel Heat production
GJ %
Bio-oil 418,538 14
Biogas 372,465 12
Sludge 534,365 17
Wood 661,066 22
Waste 1,087,413 35
Total 3,073,847 100
Table 3.3 Fuels of green heat production by cogeneration – Flanders, 2007.
1.6% of all installations that produce heat only deliver green heat. Most of this share comprises
wood incineration (hence table 4).
Fuel Heat production
GJ %
Biogas 64,243 1
Wood 6,022,688 90
Waste 251,113 4
Heat pumps 277,890 4
Heat pump boilers 339 0
Solar boilers 37,667 1
Total 6,653,940 100
Table 3.4 Fuels of green heat production by thermal installations only – Flanders, 2007
However, none of the statistics above shows the number of production units installed. This, and
their recent years’ trends could indicate what technologies are gaining popularity and might be
clever to invest in. The development of green energy production influences green heat production if
cogeneration is applied. From the same VITO report, it is made clear that especially the use of
biomass has spiked up in Flanders. Table 5 shows that energy production from biomass has risen
from 11,300 MWh in 2001 to 842,487 MWh in 2007. The number of production units has increased

from 20 in 2004 to 49 in 2007. Solar energy production has grown from 300 MWh to 5,560 MWh
over the same timespan. 438 solar units were present in 2001, while this number has risen to 3,876
in 2007. How many of these units are cogeneration installations is not mentioned.
Green energy production in Flanders
MWh
1800000
1600000
1400000
1200000
1000000
800000
600000
400000
200000
0
2001 2002 2003 2004 2005 2006 2007
Figure 3.1 (VREG, ODE Flanders, VEA)
biogas
biomass
waste incineration
solar energy (pv)
wind energy
hydropower
MWh 2001 2002 2003 2004 2005 2006 2007
Hydropower 3,000 2,700 1,900 1,926 2,283 2,079 2,740
Wind energy 34,700 56,300 58,900 95,044 154,443 237,492 281,376
Solar energy (pv*) 300 500 400 656 1,300 3,122 5,560
Waste incineration 133,600 139,800 131,300 135,268 159,523 208,184 256,120
Biomass 11,300 71,600 110,100 194,885 427,080 806,807 842,487
Biogas 41,600 58,200 133,900 199,179 222,406 173,375 252,094
Total 224,500 329,100 436,500 626,958 967,035 1,431,059 1,640,377
Table 3.5 Green energy production in Flanders (*pv: photovoltaics).
2004 2005 2006 2007
Hydropower 7 7 11 12
Wind energy 26 31 34 38
Solar energy (pv) 438 620 1,153 3,876
Waste incineration 7 8 9 9

Biomass 20 25 35 49
Biogas 22 22 27 27
Table 3.6 Number of production units in Flanders.
Although heat from renewable energy sources is generated on a very small scale (2.1%) compared
to Flanders’ total heat production, this number is on the rise as Flanders has emission targets to
fulfil. Biomass is by far the most prominent renewable energy source, and waste and wood
incineration are the most abundant technologies. The number of solar panels has been increasing
rapidly over the last years. These are small units however; the amounts of solar energy and heat
production take only slight shares of the entire renewable energy sources production, both
electricity and heat.
(All data provided by VITO, 2009).
3.3 Lessons learned
According to the managing director of a Flemish ESCo, there are a few conditions for a successful
biomass project in Belgium:
• The third party must be able to secure the biomass influx. Without a sufficient amount of
resources, there will be no project.
• The location of the project must have enough working hours. If the resources are not used,
there will be no project either.
Projects are successful from 100 kWth, but preferably from 1 MWth, and rather with an installation
that generates both energy and heat. In Belgium, there’s always third party financing for such
projects.
Sources
VEA (Flemish Energy Agency), Flemish Department of Environment, Nature and Energy (LNE),
ODE Flanders (Organisation for Sustainable Energy), VITO (Flemish Institute for Technological
Reearch)
http://www.ond.vlaanderen.be/ENERGIE/pdf/Brochure%20Duurzame%20Energie%202007.pdf
http://www.bapdriver.org/doku.php/national_actions_plans
http://www.erec.org/fileadmin/erec_docs/Projcet_Documents/RES_in_EU_and_CC/Belgium.pdf
http://www.energiesparen.be
http://www2.vlaanderen.be/economie/energiesparen/doc/brochure_bioenergie.pdf
http://publicaties.vlaanderen.be/docfolder/14103/brochure%20premies%202009%20mei%20lage%
20kwaliteit%20(2).pdf
http://www.emis.vito.be/EMIS/Media/Rapport_inventaris_duurzame_energie_2007_FINAAL_04_
09.pdf

4 Bulgaria
4.1 Legislative, Financial, contractual and marketing framework
4.1.1 Legal background for TPF and ESCos
Related legal background in the public and the private sector for TPF and ESCos. Insurance
schemes required.
The legal framework in Bulgaria especially for public and private sectors (strategies, legislation,
regulations, available grants or other financial sources) related to the Deliverable D2.2 is presented
bellow.
Energy efficiency (EE) has been among the Government priorities in the last 8-10 years, while
renewable energy sources (RES) and ESCo’s are becoming a priority only since January 2007,
when Bulgaria joined EU. The current Energy Strategy of Bulgaria gives high priority to EE, but
not to RES and ESCo’s. The new Energy Strategy of Bulgaria, expected to be adopted by the
Parliament in the next couple of months, gives high priority to both energy efficiency and
renewable energy.
The Government has adopted the following programmes on the development of EE and RES:
• National Long-term Programme for Promotion of Renewable Energy 2005-2015
• National Long-term Programme for Energy Efficiency till 2015
• First National Action plan for Energy Efficiency 2008-2010
• National Short-term Programme for Energy Efficiency
• Biomass Action Plan
Unfortunately, the implementation of these programmes (judging from the previous experience) is
quite poor.
A Law on Energy Efficiency was adopted in 2004. The Law regulates mainly EE in buildings in
relation to the Buildings Directive (EPBD).
A National Action Plan for renewable energy by 2020 has prepared and presented to the EU
Commission in June 2010 as a part of common requirements to the all EU member states. The next
ordinances, regulations and additional legislation initiatives in the field of RES policy
implementation are expected.
A Law on renewable energy was adopted in May, 2011 by the government of Bulgaria. In this low
are presented the rules for using RES including solid biomass, liquid biofuels for heating, domestic
hot water preparation and combined heat and power generation. But this low does not provide any
benefits and subsidizing schemes for RES-heating and solar energy in residential, public and
industrial sector in the country. The missing legislation promoting RES for heating is the main
problem related to RES promotion in Bulgaria. The most likely reason for ignoring RES-heating is
the lack of strict EU requirements (i.e. Directives) in this regard.
A Law on RES, Alternative Fuels and Biofuels was adopted in 2007 and it regulates satisfactory
RES-electricity and biofuels, but it does not provide any stimuli to RES-heating and solar energy.
The missing legislation promoting RES-heating is the main problem related to RES promotion in
the country. The most likely reason for ignoring RES-heating is the lack of strict EU requirements
(i.e. Directives) in this regard.

Generally, the competition on the Bulgarian ESCo’c market is chaotic. The ESCo’s business
models implementation have serious competition in comparisons with natural gas, electricity and
heavy fuel oil project for hot water production by reason of National policy absence .
For the purpose of encouraging the use of ESCO’s services in the design, supply, and installation of
this heating system, it is recommended to develop a model of a standard contract for provision of
such type of services. That is in conformity with Art. 9, it. 2 of the Directive on Energy End- Use
Efficiency and Energy Services. The requirements to the energy providers of the same Directive are
expected to boost the demand for ESCO’s services related to increased energy efficiency.
The regulatory framework in Bulgaria is poorly developed. Regarding the biomass heating
technologies, there are no standards concerning the combustion process scheme. The standards
regulate the parameters of exhaust gases and the system overall efficiency. The following standards
are enforced:
• BDS EN 303-1:1999. Heating boilers. Heating boilers with forced draught burners.
Terminology, general requirements, testing and marking
• BDS EN 303-5:1999. Heating boilers. Heating boilers with forced draught burners. Heating
boilers for solid fuels, hand and automatically fired, nominal heat output of up to 300 kW.
Terminology, requirements, testing and marking
• BDS 17396 – 1997 – Technical requirements and test methods for furnaces used for heating
(burning solid fuels)
• BDS 3872 – 1999 – Requirements, marking, and testing methods for cooking stoves
(burning solid fuels).
Regarding the biomass fuels, the only national standard is BDS ISO 1928:2000 Solid mineral fuels
- Determination of gross calorific value by the bomb calorimetric method and calculation of net
calorific value. As the name indicates, this standard is designed for mineral fuels, but due to the
absence of a specific standard is used for biomass fuels too. The Bulgarian producers of biomass
fuels use the following foreign standards:
• ASTM 1288 – Standard test method for the durability of biomass pellets
• CEN/TS 15210-1:2005 – Solid biofuels - Methods for the determination of mechanical
durability of pellets and briquettes - Part 1: Pellets
• CEN/TS 15210-2:2005 – Solid biofuels - Methods for the determination of mechanical
durability of pellets and briquettes - Part 2: Briquettes
• DIN 51731 – Testing of solid fuels – compressed untreated wood – requirements and testing
• DIN 51731:1996. Testing of solid fuels - Compressed untreated wood - Requirements and
testing
• DIN 51749 – Determination of the fuel carbon content
• ONORM M 7135:2000: Compressed wood or compressed bark in natural state - Pellets and
briquettes - Requirements and test specifications
• SN 166000:2001. Testing of solid fuels - Compressed untreated wood - Requirements and
testing
• SS 187120:1998. Biofuels and peat – Pellets – Classification.
In Bulgaria there are actual BDS standards for solid biofuels which are accepted and presented by
the Bulgarian institute for standardization in 2010 as follows:

� БДС EN 14961-1:2010 – Solid biofuels. Specifications and categories of fuels. Part 1:
General Requirements.
� БДС EN 14961- 2:2011 – Solid biofuels. Specifications and categories of fuels. Part 2:
Wooden pellets for non-industrial needs.
� БДС EN 14961- 3:2011 – Solid biofuels. Specifications and categories of fuels. Part 3:
Wooden briquettes for non-industrial needs
� БДС EN 14961-4:2011 – Solid biofuels. Specifications and categories of fuels. Part 4:
Wooden shavings for non-industrial needs.
БДС EN 14961-5:2011 – Solid biofuels. Specifications and categories of fuels. Part 5: Fire wood
for non-industrial needs.
In the future, development of new standards and normative methods will be required, thus revealing
opportunities for the development of new technologies and a methodology for biomass analysis and
development of databases for the proximate and ultimate analysis. Such steps are already taken by
some of the European countries. Austria, Sweden, and Germany have developed national standards
for analysis and evaluation of the properties of biomass pellets and other biomass fuels. These
standards are well defined and could be enforced in Bulgaria. This opinion is also shared by the
companies that produce wood pellets, because the pellets should cover specific requirements and
only through such standards their production could be on the market without causing problems and
client complains
The Government of Bulgaria (and perhaps most measures apply to the rest of the EU Member
States) shall implement the following measures:
• Offer State and/or local subsidy programmes (as mentioned in the above section)
• Develop standards for biomass fuels (there are no such at the moment).
• Develop standards and quality labels for biomass utilization technologies.
• Better education on biomass fuel production, biomass energy utilization technologies, and
heat pumps, through inclusion of these subjects in the curriculum of students in relevant
subjects in State Universities.
• Set higher requirements for the heating/cooling technologies (in terms of energy efficiency
and renewable energy utilization) in new buildings and the refurbished ones, in relation to
EC Buildings Directive.
• Introduce more sustainable forestry practices and limit the biomass fuel outside EU, so that
the wood fuel price remains predictable and competitive.
Research in the field of biomass wood fuels and combustion technologies
The application of biomass boilers utilizing biomass fuels is economically viable in Bulgaria and
the other EU Member States. These technologies are mature and competitive for decades already.
On the other hand, the research is still ongoing in the fields of automation, efficiency improvement,
and emissions reduction. In Bulgaria, research in these directions is done primarily by the respective
research departments of the companies engaged with the design and manufacturing of these
technologies. The largest such company is Erato Holding. Additionally, technological research is
carried out by the Technical Universities in the country.
At EU level, research in this area is funded by the Seventh Framework Programme (FP7), where
Area Energy.4.2 Biomass focuses, among the others, on improving the performances of small scale
biomass boilers/stoves and their exhaust systems in order to achieve very low levels of pollutants

emissions at highest efficiencies and low cost. Additionally, cross-cutting issues include the
adjustment of combination biomass energy boiler for heating and heat pumps for heating and
cooling for ever reduced energy demand of passive or even plus-energy houses and thermal storage
4.1.2 Existing contracts
Different ESCo business models are presented in this section.
A. Energy Performance Contracting
It is a contract scheme between three partners:
• ESCo;
• Customer;
• Financial Institution - Bank.
The Customer is obliged to pay the project costs as typically, it borrows from a third party, which
most often is a bank or a leasing company and due to the energy savings guaranteed by the ESCo,
repays the cost of the borrowed capital. The ESCo undertakes a responsibility for ensuring a
minimum energy savings achieving and if a certain minimum turns out to be exceeded by the
Customer, and then the former compensates the latter for the surplus margin effect. In case the
opposite happens, i.e., the Customer reaches extra economies in comparison with the initially
stipulated, and then it pays to the ESCo the sum of the shortage margin. Thus, the ESCo takes on
the risks related to the project fulfillment instead of the Customer. But the funding institution
evaluates the credit risk with the Customer. This kind of Contract is suitable for Customers, which
have better opportunities to borrow than the ESCo.
B. Energy Contracting
These Contracts have two parties:
• ESCo;
• Customer.
The ESCo funds the project completion and the customer repays it by means of monthly
installments, which include also the cost of the consumed energy. This energy is measured through
a certified gauge. Once the purchasing price is repaid, the customer becomes owner of the
contracted equipment.
C. Public-private partnership
These Contracts have two parties:
• ESCo;
• Municipality.
First of all both ESCo and municipality are signed contract for the Public-private partnership. The
municipality participate with your own contribution for guarantee of the land of thermal plant
construction. The ESCo invests all costs (excluding costs for land) for the project implementation.
The municipality buildings pay on monthly base the consumed energy.
Payment schemes:
1. The thermal energy paid by the energy users (customers) in the objects for 1 kWh supplied
thermal energy is by 30% lower, compared to the average price of 1 kWh day tariffs of the

electricity by low voltage, according to the current bulletin of the electricity distribution companies
in Bulgaria.
2. The thermal energy paid by the customers in the objects for 1 kWh supplied thermal energy is by
30% lower, compared to the price of 1 kWh of the light fuel oil, according to the current bulletin of
the Bulgarian petroleum company Lucoil Jsc.
4.1.3 Financial institutions and schemes
Preliminary identification of appropriate financial institutions. Related financial schemes usually
adopted and requirements (conditions, guarantees etc) from the financial institutions.
The most popular financial institutions are commercial banks. The related financial scheme is debt
financing to the ESCo borrower. The main conditions are as follows:
• The project to be eligible (according to the bank). For example EBRD facility in Bulgaria
through BEERECL – Bulgarian energy efficiency and renewable energy credit line. The
BEERECL has requirement for the projects eligibility.
• Grant component which the borrower will get from EBRD - 20% of the total project costs to
be include in the loan disbursement after the project completion. The received Grant shall be
used for repayment of the loan and will be taken as own equity in the project
• Minimize of project risk.
• Small scale project financing with the total loan value of 2 million EUR.
• Loan maturity – up to 7 years from the signing of the financial documents
Pledge in the amount of 150% from the project loan;
4.1.4 Barriers
Identification of the reasons for the weak development of BioSolESCos operations up to now, as
well as remaining barriers:
• Access to the capital;
• Weak awareness and experience;
• M&V issues - problems
• Conflict with the conventional procurement process;
• Complex legal and contractual terms;
• Conflict in the public sector between ESCo’s and conventional fuels suppliers;
4.2 Technical framework
4.2.1 Quality and monitoring
Quality and monitoring certifications needed in each participating country. Examine those aspects
of measurement and verification (M&V) that are crucial for BioSolESCos
Energy Services Companies managed measurement and verification activities typically apply to
small scale energy service contract projects. The ESCo’s and participant will often enter into
contractual agreements that include expected energy savings, how savings are measured, who is
responsible for near term and long-term project management, and compensation procedures. These
projects may have long development and construction cycles.

ESCo’s personnel may spend a considerable amount of time on an individual site before and after
ECM installation to ensure that expected outcomes have a high likelihood of success. Projects in
which the ESCo’s has primary responsibility for measurement and verification often represent no
more than a few score of participants per year, depending on the utility program size.
The M&V – energy savings standard is one crucial factor to develop EMC. M&V standard
determines the specific energy savings of both participated parties in EMC. For the implementation
of the energy management contract, it is prerequisite to create EU M&V standard. This M&V
standard can achieve the following benefits:
• Clearly knowing to the net amount of the energy saving and energy costs;
• Guaranteeing and keeping operational performance of the improvement equipment
maintenance;
• Enhancing the reliability of ESCo’s guarantee to the energy savings;
• The customers can appropriately appraise the improvement benefits when it is unable to
make the guarantee for ESCo’s.
Thermal energy delivered to the customers under energy contracting. A measuring device (heat
meter), which has been duly certified and metrologically licensed, is used to measure the total
amount of consumed energy. The actually supplied quantity of thermal power are measured and
invoiced to the energy consumers.
4.2.2 Appropriate technology for BioSolESCos
Bio-ESCo’s plants – appropriate technology
The biomass boiler plant use wood chips as a fuel. The wood chips are stored in a separate
warehouse, located next to the biomass boiler. The wood chips are fed automatically from the
warehouse to the boiler hopper by a screw conveyor with different length. From the boiler hopper
the biomass is transported in the boiler chamber by an internal screw. The combustion of wood
chips takes place in the burning chamber. The generated hot water is fed into insulated heat
accumulator. The boiler is equipped with a primary combustion air system, dimensioned for a full
cauterization in the primary combustion. For combustion of the flue gases a secondary combustion
air system is foreseen. On the display of the control panel it is possible to read the current boiler
output, load and all other relevant parameters. The control panel is fitted with PLC control. The
system consists of a temperature sensor and flow meter in the forward flow pipe from the boiler,
temperature sensor in the return flow pipe to the boiler, O2-probe (as an option) in the flue gas
channel, frequency converter for the feeding screw gear motor, frequency converters for motors on
all combustion air fans, frequency converter for the flue gas fan and the required programming in
the control panel. The system works in the following way: the desired forward flow temperature is
pre-set on the control panel. If the actual forward flow temperature is lower than the pre-set value,
the fuel supply and the amount of combustion air are automatically regulated upwards. If the actual
forward flow temperature is higher than the pre-set value, the fuel supply and the amount of
combustion air are automatically regulated downwards. The dampers and frequency regulators
receive a signal from the control panel about the optimum settings allowing the adjustment to take
place automatically. The fuel supply is automatically adjusted using the frequency regulated gear
motor, which receives a signal from the control panel for the optimum speed of the transport screw.
The primary side is supplied with circulation pumps, fittings and a heat accumulator. The hot water
by the heat accumulator with a temperature of 75 о С is transported to the distributing water collector
by means of circulating pump. The heating units in the rooms are supplied with hot water from the

distributing water collector. A returned water collector collects the water used by the heating units
that has a temperature of 60 о С. The water is fed from the returned collector into the water heating
boiler by means of a circulating pump. All facilities of the boiler station are equipped with control
and safety valves as well as with control, measuring and automated devices.
Bio-Sol-ESCo’s plants – energy cabin
The biomass energy boiler and the auxiliary process equipment are situated in a 20-foot metal
container – energy cabin with thermal insulation. The hot water boiler is compact one, made of
steel, with cast iron burner and panel with control devices, and is equipped with an automated fuel
feeding device for wood chips or wood pellets and fire safety system. A system for automated
regulation of the heat supply is also implemented. New thermal insulation of the water pipe network
will be installed. An additional pipe connecting the energy cabin with the existing pipe network of
the internal heating installation of the building will be built. Furthermore, a chimney for the
separation of the exhausted gases will be constructed.
Completed solar installation for generation of hot water for everyday necessities on the roof of
energy cabin will be constructed. The system has automatic regulation and control for parallel work
with the biomass boiler.
ESCo’s shall be encouraged to promote more actively this technology. It is recommended to
develop for them a model of a standard contract for provision of such type of services. The
Directive on Energy End- Use Efficiency and Energy Services gives strong incentives to energy
providers to contract ESCo’s to implement appropriate technologies.
4.2.3 Software tools available
There are two software tools available. These tools comprise to:
1. ERATO-2005 specialised software for biomass energy audits, feasibility studies and
monitoring
2. ENSI – Energy Saving International - Economic software
These tools cover the following areas:
• Solar and Biomass plants simulation and monitoring –evaluation
• Economic evaluation tools
• Flexible optimisation tools
4.3 Lessons learned
Lessons learned from successful experiences and frequent faults of the past attempts. List of traps to
be avoided
• Organisational and managing process improvement;
• Improvement of the ESCo’s project management methodology;
• Additional mechanisms and tools for project development;
• Project risk forecast and clear risk analysis;
• Deep project monitoring.

5 Cyprus
In Cyprus the ESCo market has not been yet developed. Nevertheless there are a few energy
advisors and consultant companies offering advice for energy savings in buildings and industry
[Bertoldi, 2010]. Some of these companies offer within their range of activities ESCo projects
(http://www.nec-group.com/ ), while by internet search one ESCo appears as the first ESCo
established in Cyprus, but no projects appear in the website yet (www.atiraenergy.com).
Solar thermal applications is a promising sector for Cyprus due to the favourable climatic
conditions and the already developed market.
The Energy Performance Directive (ESD) has been transposed into national legislation with Law
31/2009 (3/4/2009) but up until now there is no separate Law dealing with the operation of an
ESCo. The identified barriers are low awareness among end users and lack of standardized
documents and procedures, especially for projects in the public sector.
[personal contact: Kyriakos Kitsios, Cyprus Energy Agency – CEA, 2009, 2011]
Sources
Paolo Bertoldi, Benigna Boza-Kiss, Silvia Rezessy, Institute for Environment and Sustainability,
JRS Scientific and Technical Reports: “Latest Development of Energy Service Companies across
Europe – A European ESCO Update”, 2007.
http://www.nec-group.com/
www.atiraenergy.com
Personal contact: Kyriakos Kitsios, Cyprus Energy Agency – CEA, 2009, 2011

6 Czech Republic
The last Population and housing census from 2001 shows the key numbers of the housing and
dwellings stock in the Czech republic. Total number of residential dwellings is 4 366 293, from
which are 3 827 678 permanently occupied. Total number of houses is 1 969 568, from which are 1
630 705 permanently occupied.
The rate of family houses from the total sum is 1 407 248, the rest of the housing stock – 223 457 -
represents permanently occupied multi-family houses.
The share of dwellings in multi-family houses represents about 60%, i.e. 2,3 mio of dwellings. The
panel (prefabricated) building stock represents 31% of the total, i.e. 1 165 000 dwellings in the
Czech Republic.
The structure of the ownership of the permanently occupied dwellings in the Czech Republic is
shown in the figure:
Figure 6.1 Ownership of the permanently occupied dwellings in the Czech Republic.
Rental dwellings - percentage of:
• municipal buildings: 76%
• buildings of private enterprises: 6%
• personally owned rental buildings: 14%
• combined and other: 4%
The average age of the rental buildings is about 32 years. Between 1959 and 1969 have been
annually built about 40 000 dwellings, in the period of 1970 – 1980 there have been built 60 000
dwellings per year, the next decade the number came down back to 40 000 and the last decade is the
number of finished dwellings rather small – from 4 000 till 12 000!
In the period of 1960 – 1990 there have been discarded about 1 million of old flats! The net increase
of the dwellings was quite low!

The average living floor area of one flat in the residential building block is 39 m², the average living
floor area per capita is less than 16 m ².
Specific heating energy consumption of the residential building blocks range from 55 to 400
kWh/m²a. The value depends on the construction period of the building as well as the behaviour of
the tenants in relation to the possibility to influence the payment for the space heating. The worst
conditions represents the construction period between 1960 – 1983 (prefabricated blocks with the
low thermal insulation, pure quality of the construction as well). All payments for the heating based
on the real energy consumption represent very strong incentive and decrease the heat consumption
even if the building (envelope) construction shows high thermal losses.
Average cost for the space heating depends on the:
• price of the heat ca €25/MWh to €65/MWh (average price is €43/MWh)
• energy consumption ca 55 to 400 kWh/m²a (average cons. 200 kWh/m²a)
and range from 1,5 to 11,0 €/m²a. Average heating cost is €8,6/ m²a.
6.1 Legislative, financial, contractual and marketing framework
The following graph shows the Czech part of the European Energy consumption.
Figure 6.2 Chech percentage in the European Energy Consumption.
6.1.1 Legal background for TPF and ESCos
Privately owned rental households have the state regulation rents. Tenants of these households have
no incentive to invest into the building improvement as well \as the owner. This segment of the
building sector represents old building before the 1948 and does not relate to the framework project
anymore.
The municipal household sector, which is rapidly decreasing by the privatization, has quite bad
position in relation to the long term investment decisions. New owners of the privatized flats must
at first establish common legal person (mostly it is co-operative or so called consortium of coowners
of the building) and only the whole building (block of flats) can be privatized. This creates

unpleasant situation because of different interests and different view on the future of the property,
which fact is given by the different structure of the current occupants of privatised flats. There is not
very much willingness for the movement in the Czech Republic, if its not necessary for serious
reason. Therefore the structure of the tenants and consequent owners is very mixed.
Management of apartment buildings is governed by several different laws and act, depending on
dwelling type and ownership.
The management and decision framework for the co-operatives is established by the Co-operative
Law, which describes the roles of the individual dwelling owners (=shareholders), co-operative
board and co-operative members meetings. In most cases, the building manager (the specialized
maintenance and service company) is hired for the “daily management” of the property inclusive
accounting of the co-operative.
The final decision is taken by the members meeting, the top body of the co-operative. This meeting
charges the board (or directly the chairman which can be in the position of the board if the legal
person / co-operative is rather small) to execute the conclusions. The board delegate the work to the
real manager of the property, which is in most cases the specialized maintenance and service
company. The board is responsible for the quality of the service and maintenance, but the
qualification of the board members mostly does not comply with the professional level needed for
decision. Technical regulations concerning the space heating and the thermal conditions and
characteristics of buildings are specified in the National Building Standard. The building code
applies primarily to newly constructed buildings as well for reconstructed buildings.
Czech Energy Agency (CEA) presentation to legal situation for contracting (CEA has gone to bust,
therefore only a copy of internet presentation)

Figure 6.3 Czech Energy Agency (CEA) presentation – slide1.

Figure 6.4 Czech Energy Agency (CEA) presentation – slide 2.
Figure 6.5 Czech Energy Agency (CEA) presentation – slide 3.

Figure 6.6 Czech Energy Agency (CEA) presentation – slide 4.
6.1.2 Financial institutions and schemes
For usual maintenance expenses, a budget is allocated by the tenants to the company.
For major investments the approval, mostly of the 2/3 of the owners is required (the percentage can
vary and it is defined in the co-operative statutes).
Both long and short term budgeting in co-operative is prepared by the co-operative board and
approved by the annual meeting of members (i.e. households living in the building). In practice all
major refurbishment require a decision buy the members meeting. Minor refurbishment within an
approved maintenance budget can be decided by the board.
Major refurbishment is decided separately and financed either through direct payments by the
owner-occupiers or through bank loans. In case of bank loan financing the owner-occupiers pay
their share back through a special “financing fee”, defined similarly to the maintenance fee in

€/m²/month. The willingness to take a bank loan is very low and is not favourite among the building
owners.
Co-operative refurbishment financing relies mainly on their own financing sources: saved money,
banks or other commercial finance institutions.
Governmental financing and support for housing production and refurbishment is administrated by
the State Fund for the Household Development under the Government Act No.299/2001 of the
Ministry of the Local Development and represents decreasing the interest rate of the commercial
loan for the reconstruction of the prefabricated residential buildings.
Two possibilities for energy feeding:
• energy rates
• certificatess
Figure 6.7 Czech Energy Agency (CEA) presentation – slide 5.
6.1.3 Barriers
Access to financing of energy efficiency is a major barrier in Czech Republic and specific support
mechanisms have to be developed.
Co-financing is especially important at the beginning of ESCOs' activities, since at that stage the
ESCO industry is largely unknown, but subjected to similar, or even stricter treatment when seeking
financing than other customer. Since ESCOs in developing countries often are not set up by utilities
or other large companies, but independently, they need guarantees enabling them to receive credits
from banks as well as financial support. Other financial support mechanisms may include partial
risk guarantees, loan loss reserve funds, special purpose funds or interest credits.

Because of limited budgets Czech is not able on their own to create guarantee funds and other
support mechanisms for ESCOs. Grants are widely used as a mechanism for supporting ESCOs as
well as, more rarely, loans. They may be issued as unsecured interest-free loans for SMEs.
Since international or national funds are usually not granted for a long term, it is of crucial
importance to create a local banking system open for EPC financing.
As presented above, the major problems for banks in Czech is lack of knowledge about EPC, high
initial costs and uncertainty about the credit-worthiness of ESCOs and their clients, limited
understanding of the logic of ESCO projects.
The transition from public funding through subsidies or loans to commercial financing is however
not easy since the former can usually give better conditions than the latter, and they might even
compete with each other. For this reason, withdrawing public loans or funds as soon as the
commercial banks are able and willing to engage in EPC is very important otherwise, the support
programmes will only finance less profitable projects, which banks do not want to take on. One
option would be not to give loans or grants not ESCOs, but to set up guarantee facilities for (local
or national) banks and financial institutions.
Main barriers summarized:
• Less experience in financing and funding of projects
• Liberalisation of the electricity market
• Lack of knowledge of EPC to banks and investors
• Energy exclusive rights
• Determined deeding fees
• Funding conditions
Minimum requirements for existing buildings (Article 6): Minimum requirements for the thermal
quality of building components are defined in the building codes by U-values (CSN 73 0540).
These requirements apply in reconstruction and modernization of buildings or their components.
The methodology for calculating the energy performance of buildings in terms of the heating energy
demand includes the thermal characteristics, the position and orientation of buildings, the outdoor
and indoor climate, passive solar systems and natural ventilation.
Energy performance certification (Article 7): There is no obligatory certificate for the building
stock in the Czech Republic. Activities and results related to the mandatory energy auditing belongs
to the Energy law, seems to be the useful basement for the process of development the obligatory
certification methodology leading to the „labeling“ of buildings in near future.
Inspection of boilers (Article 8): Regulations about the obligatory inspection of boilers have been
adopted from the EU directive.
For the better and faster implementation of the framework conditions the following activities and
needs should be accelerated:
• definition and wide awareness of the energy certificate of buildings (households);
• relationship between the existing network of the state certified ernergy auditors and required
independent authorized experts to carry out energy certification;
• legal framework development in order to incorporate energy performance requirements for
refurbishment projects, energy certification as part of dwelling/property sales.

7 Denmark
7.1 Legislative, Financial, contractual and marketing framework
7.1.1 Legal background for TPF and ESCos
The Green Tax Package, introduced in 1996 includes an additional tax on space heating and hot
water in the industry. If the company has made an agreement about energy efficiency the tax is
smaller. Heat and power produced with biomass or renewable energy sources receives a surcharge
from the client. 6
No electrical heating is allowed to be installed in new buildings, only central heating is allowed.
7.1.2 Existing contracts
There are only a few ESCo in the Danish market 7 . A network of ESCos was formed in early 2009
in Denmark, to improve the general public’s knowledge of ESCOs in Denmark.
The few ESCo operations in Denmark have mostly been financed by the customer, and there was no
information available on biomass/solar ESCos.
Four different business models in Denmark were found 8 :
ESCO is responsible for whole operation, where the ESCo is responsible for all parts of the
operations, from financing, to operation
ESCO responsible for energy renovation and operation, where the ESCo does not finance the
project, but only makes the necessary adjustments to the building and/or equipment or renovates the
building and operates the project
ESCO responsible for operation, where the client finances and performs the necessary changes or
renovation, and the ESCo only operates the heat plant
ESCO as consultant, where the ESCo is in the role of an advisor in the project
7.1.3 Financial institutions and schemes
Did not find any.
7.1.4 Barriers
General knowledge of ESCos, lack of monitoring and verification, financing institutions are
unaware of appropriate financing tools.
6
http://www.sparenergi.dk/graphics/publikationer/energibesparelser_uk/EnergyEfficiency/Green_taxes.pdf
7
Bertoldi, S. et al, Latest Development of Energy Service Companies across Europe - A European ESCO Update. JRC.
2007
8
http://www.savingtrust.dk/public-and-commerce/are-you-responsible-for/energy-in-a-municipality/energyservices/types-of-energy-service-agreement

8 Finland
8.1 Legislative, Financial, contractual and marketing framework
8.1.1 Legal background for TPF and ESCos
In Finland Motiva has very significant role in energy issues. Motiva Oy is a state owned company
promoting energy efficiency and renewable energy sources. ESCO concept is a tool to get energy
efficient technology and solutions implemented. Motiva works together with market actors for
promoting and developing ESCO and Energy Performance Contracting (EPC) concepts in Finnish
energy markets. 9
Motiva’s national work package in the Eurocontract project is linked to the national study:
”Lifecycle Models for Indoor Environment and Building Services - CUBENet”. 10 A number of
market actors, engineering companies, municipalities, public bodies, private companies and
organisations etc. are committed to the CUBENet project funding. The target of that project is to
create new service models for new buildings and renovation projects where the contractors would
be responsible for the building engineering solutions and systems for a longer period than normally
in building projects and would take responsibility of the management, maintenance and indoor
quality (including energy costs) of the building.
11Motiva acts as a link between ESCOs and their potential clients by developing ESCO models and
tools and marketing the ESCO concept. One action to support that was the creation of an ESCO
project register 12 . In that register seven companies are now listed having utilized the ESCO concept
in Finland in their business. Apart from those six companies two energy utilities have applied the
ESCO procedure in projects dealing with secondary heat recovery from an industrial plant to a
municipal district heating system in one case and replacing oil with wood fuel in heating a building
complex in the other case. 13
8.1.2 Existing contracts
In Finland there are basically five different kinds of business models for selling heat:
1. Business model where the client owns the heating plant and the company only runs the
heating plant. The client carries themselves whole investment risk. This is the most common
heat business model in Finland.
2. Business model where the company owns the heating plant and the company runs the
heating plant. The company carries themselves whole investment risk. This is coming more
common business model in Finland.
3. Business model where the very big company owns the heating plants and the sister company
(or private person) runs the heating plant. The big company carries themselves whole
investment risk and the income of the sister company (or private person) is not very big.
9 EPC markets and ESCO business in Finland. 2007. Motiva
10 http://www.motiva.fi/julkinen_sektori/tuet_ja_rahoitus/esco-palvelu/cubenet
11 EPC markets and ESCO business in Finland. 2007. Motiva
12 http://www.motiva.fi/julkinen_sektori/tuet_ja_rahoitus/esco-palvelu/esco-hankerekisteri/
13 EPC markets and ESCO business in Finland. 2007. Motiva

4. ESCO – business model, not very common in Finland
5. Franchising – business model. Few companies has tried this business model in Finland, but
they have not succeeded to create a real business.
In North Karelia University of Applied Sciences (NKUAS) has developed a contract model for
cases where company (who owns the heat plant) sells heat to the customer. There is also a heat
selling contract model made in Energiateollisuus ry. 14
In Finland ESCO company and customer can use general “Conditions for sale”. 15
8.1.3 Financial institutions and schemes
When starting the introduction of the ESCO concept In Finland it was considered, more or less, as a
tool for the implementation of energy saving measures identified and reported in connection with
energy auditing. This is a consequence of the fact that a lot of energy audits in different client
categories have been carried out in Finland during the past ten years. Most of the audits have been
actions in implementing the Voluntary Energy Conservation Agreements. Energy auditing is
supported by the Finnish government and is linked to the national energy and climate strategy. In
the public sector about 50 % of the whole building volume has this far been audited this far and the
total number of the audited public and commercial buildings was 4300 at the end of the year 2005.
The average economic energy saving potential of 17 % in heat and fuels and 7 % in electricity has
been reported in the auditing reports. About two thirds of the saving measures proposed in the
reports have been implemented according to Motiva’s separate studies and clients response. The
high implementation rate is easy to believe because the average pay back time of all reported energy
saving measures is relatively short: about 80 % of the energy saving potential reported is possible to
achieve within a shorter than 2 years pay back time in municipalities and in the public sector (see
picture 1 below). This means that most clients normally prefer to implement the saving measures by
themselves rather than by utilising an ESCO service. 16 This point is can act like a barrier to the
broading of BioSol Esco`s (or ordinary ESCO`s).
BioSolEsco`s can apply financial support from the ministry of employment and economy. Normally
support is 20 % from the investment cost of the ESCO.
8.1.4 Barriers
In 2009 in Finland we have only one BioSolEsco client (city of Jämsä, two cases) and one
BioSolEsco (Enespa Oy).
ESCO business has been growing in Finland but not to meet the expectations following the early
information from foreign ESCO and EPC markets and the growth of this business. Lately we have
noticed that our expectations have been unrealistic in our country probably because:
• The energy auditing program subsidized by the government and combined to the Voluntary
Energy Conservation Agreements has been one of the most important tools to improve
energy efficiency in the county. As far as the energy auditing program and the ESCO
concept work as complementary tools to each other both concepts can be expected to have
growing markets. 17
14 www.energiateolisuus.fi
15 For example YSE 98, NLM 94, KSE 95
16 16 EPC markets and ESCO business in Finland. 2007. Motiva
17 EPC markets and ESCO business in Finland. 2007. Motiva

• Until now the ESCO concept has been strictly focused on improving energy efficiency in
Finland. In many other countries EPC projects tie energy efficiency activities and renovation
needs closely together. In some countries energy projects or energy related activities are
called ESCO activities much more deliberately than the practise is in Finland and this is why
much higher growth rates can be shown there in this business area. 18
• The energy saving potential in foreign countries seems to be much higher than in Finland.
To create EPC business in the markets, where the expected saving potential is relatively low
is challenging and leads to tough requirements in verification and utilisation correction. 19
• In the Finnish renovation projects the driving forces are normally the needs to modernize the
spaces suitable for new or increased services in the building or to replace old architectural or
technical systems by new ones which would normally bring about improvements in comfort
levels etc. In general the insulation of building envelope is already good or it is not normally
economical to improve that in existing buildings only for energy saving reasons. Normally
only relatively few remarkably inefficient technical systems or structural deficiencies can be
found in the buildings. 20
• Combining the ESCO/EPC concept with renovation needs in Finland seems to mean that
indoor climate conditions, building services etc. will be often improved compared with the
reference situation and that the consumption of energy (heat and especially electric energy)
and the consequent costs decrease only marginally or might even increase. A common
tendency in the Finnish building renovation projects today is that when replacing old HVAC
systems with new ones, at the same time indoor air cooling systems are installed. This again
increases consumption of electric energy - even if new energy efficient control were
installed in the same time in order to regulation of the supply air flow into some spaces in
the building. All this means that new ESCO/EPC concepts and solutions should be created
for renovation projects, where energy efficiency (not necessarily energy cost saving) would
be guaranteed and verified. 21
We believe that the EPC markets, as exist abroad, are limited in our country and there are not major
barriers to that - if we do not accept a relatively high level of energy efficiency as a barrier. Our
understanding of the high efficiency is partly based on the statistical results of the energy auditing
program where energy auditors report the proposed economical energy saving measures in auditing
reports to the clients. The results reported especially for the service sector show relatively small
saving potential over a 2-year pay-back time. This has naturally raised some questions and has been
openly discussed in Finland for some years. The ESCO business has been marketed widely in
Finland and the government gives financial support to the ESCO investment projects. There is room
also for ESCO business focusing strictly on energy efficiency improvements (as we have seen
especially in our industrial success projects) but e.g. the lack of knowledge and slowness in
adapting new methods are hindering the growth of applying the concept in areas where it could be
utilized more widely. Unlike in some countries where EPC is applied, we in Finland often face the
needs for verifying the annual energy savings not by comparing the annual energy costs of the
whole building or plant but of the systems to be included in the individual ESCO project. And this
we do not regard as a minor issue in ESCO concept marketing. 22
18 EPC markets and ESCO business in Finland. 2007. Motiva
19 EPC markets and ESCO business in Finland. 2007. Motiva
20 EPC markets and ESCO business in Finland. 2007. Motiva
21 EPC markets and ESCO business in Finland. 2007. Motiva
22 EPC markets and ESCO business in Finland. 2007. Motiva

We have to remember that in 2008 there was about 400 BioSolEsco-like companies in Finland.
BioSolEsco-like company means companies, who are selling wood or/and peat base heat to the
customers. 23
8.2 Technical framework
8.2.1 Quality and monitoring
8.2.2 Appropriate technology for BioSolESCos
Our opinion is that technology is not a problem in Finland for BioSolEsco`s. There are technical
solutions available for solar systems and for systems which uses soli fuels. It is totally different
issues are the prises of the Bioheating systems and bio fuels competitive to the other solutions.
8.2.3 Software tools available
All the reports, tools and the most important material created in Cubenet / Eurocontract –project can
be downloaded in Motiva web page. 24 . The most important results in the view of Finnish national
project plan and targets in Eucontract project are the “ESCO-guide” (ESCO-opas) for municipalities
and the report “ESCO Service for Municipalities” (Kunnallinen ESCO-menettely).
• ESCO-opas (pdf, 437 KB) (= ESCO guide)
• Kunnallinen ESCO-menettely (pdf, 618 KB) (= ESCO service for municipalities)
• ESCOn sopimusohjelmamalli (pdf, 155 KB) (= tendering documents)
• Puhallinenergiansäästön laskenta (xls, 30 KB) (= Energy saving calcultion for fans)
• Riskinjako Makro-Meso-Mikro (xls, 30 KB) (=risk handling)
• Säästölaskelma (xls, 30 KB) (= calculation for energy savings)
• Success Factors (xls, 36 KB) (in Finnish)
The material has been also utilized in a project where four Finnish ESCO’s have contacted
municipalities marketing the service and training the staff to understand the ESCO service
flexibility e.g. in renovation projects. The project is coordinated by Motiva and it has got funding
also from the Ministry of Trade and Industry. Motiva expects that the ESCO’s have visited dozens
(40-50) of municipalities till the end of the year 2007, when the project is scheduled to end.
There is also available a software which is developed for simulation of action of heat plant. 25
In Biohousing – project is developed a calculator for simulating small scale house heating system. 26
8.3 Lessons learned
For municipalities the new Energy Efficiency Agreement, the agreement period starting in the year
2008 (it has started already), will state in the agreement documents e.g that the municipality (the
quotation below freely translated from Finnish):
23 Työtehoseura 2009. Unpublished database.
24 http://www.motiva.fi/fi/toiminta/escotoiminta/cubenet/
25 http://www.knowenergy.net/lampokeskus/
26 http://www.biohousing.eu.com/heatingtool/Default.asp?lang=eng

• “will use new procedures to get energy efficient solution to be implemented in renovation
projects and in new building contracts and if necessary, independent on its own investment
budget
• will find the necessary knowledge and understanding to be able to utilize ESCO service in
investments
• finds out the possible obstacles in energy efficiency decisions in its own administrative and
decision making processes and tries to solve the revealed problems
• when beginning new investments takes into account the option to utilize ESCO service
when the scarce financing sources will hinder cost effective investments to come true” 27
Referring to the previous quotation in the Energy Conservation Agreement there will become still a
great call for information and training about ESCO service among municipalities, despite the fact
that Motiva has already started a focused and intensified info dissemination work like described
previously in this text.
After Eurocontract project Motiva will continue its work to enhance the penetration of energy
services to the energy markets depending on the future resources and our clients commitments
focused on ESCO service. 28
27 EPC markets and ESCO business in Finland. 2007. Motiva
28 EPC markets and ESCO business in Finland. 2007. Motiva

9 France
Energy services (public lighting, gas and electricity distribution, district heating) in the form of
outsourcing public services in France dates back into the 19th century (Dupont and Adnot 2004).
The success of these and other “delegated management” services (waste and water management,
transport, telecommunication) financially strengthened the private companies involved in these
businesses, thus creating the basis of the French ESCO model (Dupont and Adnot 2004).
The French market is well developed and among the most developed markets in Europe (although
based on the peculiar, but long established French ESCO model – as discussed below and in next
sections) and it experienced a stable market growth between 2007 and early 2011. It is quite
concentrated market, as is it largely dominated by about 10 very large companies, generally
subsidiaries of main energy utilities though working independently from them. Earlier they were
referred to as “expolitant de chauffage” while they are now more often defined as ESCOs. New
actors have been entering the market and currently approximately other 100 smaller ESCOs
companies operate in the energy market (Marino et al 2011). The new actors which are mainly large
facility management and operation companies who provide financing in addition to traditional heat
ventilation and air conditioning (HVAC) services, manufacturers of building automation & control
systems (mainly multinational) who provide the EPC services found in other European countries and
local consultancies (Marino et al 2011, Bertoldi et al 2007). The most common ESCOs operations are
district heating, CHP, public buildings, facility management and private non residential buildings
(Marino et al 2011). French ESCOs mostly provide complex solutions, in contrast to ESCOs in
other European countries.
9.1 Legislative, Financial, contractual and marketing framework
9.1.1 Legal background for TPF and ESCos
In France, the action plan ‘‘Le Grenelle de l’environnement’’ has created an ESCo market in the
public sector with public–private partnerships and private investments. France National Renewable
Energy Action Plan sets a target of the share of renewable energies to be 27 % in electricity sector,
33 % in heating/cooling sector and 10,5 % in transport sector by 2020. The “Grenelle de
l’Environnement” is the basis for the action plan of renewable energies in France. The Grenelle de
l'environnement is an open multi-party debate in France that brings together representatives of
national and local government and organizations (industry, labour, professional associations, nongovernmental
organizations) to define the key points of public policy on ecological and sustainable
development issues for the coming five years. The "Loi Grenelle 1" (implemented in August 2009)
is the resulting framework policy and introduced the following main commitments, in relation to
ESCOs activities here targeted 29 :
• Building and housing: generalization of standards of low consumption in new housing and
public building, plus setting up incentives for the renovation of housing and building
heating.
• Energy: development of renewable energy to achieve 20% of total energy consumption by
2020, ban on incandescent lamps by 2010, project of a tax based on goods and services
energy consumption ("carbon tax").
29 http://www.legrenelle-environnement.fr, http://www.iea.org/textbase/pm/index.html

The funding and the detailed rules for the implementation of the provisions of the Loi Grenelle 1
were specified in the Finance Law of the 2009. The Finance Law 2009 contains various provisions
to increase support of renewable energy. Some of the primary measures are:
• Eco-loans (0% loan for energy-efficient renovation (Art. 99)
• The creation of a zero-interest loan programme for major renovation activities. The aim is
for energy savings to allow repayment of the loan's capital. Activities that can be covered
under the loan include:
-Thermal insulation for roofs, exterior walls, and exterior glass surfaces;
-Installation, regulation or replacement of heating or hot water systems;
-Installation of heating or hot water systems using renewable energy.
The loan amount is limited to EUR 30 000.
In 2010 the Parliament adopted ‘Le Grenelle 2’ which further regulated the implementation of the
‘Grenelle de l’environment’, presents the concrete actions needed to reach the defined 2020 targets
in six main sectors: buildings and urbanisation, transport, energy and climate, biodiversity, health
and governance. Measures specific to buildings and energy efficiency include: thermal regulations
for the 2012 (implemented by end of 2011 in public buildings), the provision of the eco-loans and
the obligation of display of energy certificates on buildings and the definition of the second WCS
obligation period (up to December 2013 – see below). ADEME (French environment and energy
management agency) is the national agency in charge of implementing renewable energy and
sustainable development policy.
An important driver for uptake of ESCOs operation in private sector has been the implementation of
a White Certificate scheme (WCS) in 2006 (more detailed description of the scheme is provided in
section 9.1.1). Under the WCS energy savings obligations are imposed on energy suppliers in the
residential and service sectors. They comply with these obligations by returning an equivalent
number of certificates. End use energy saving actions are rewarded with certificates (under certain
eligibility requirements). End-use actions are eligible for all energy carriers and all sectors except
for the installations already covered by the European Emission Trading Scheme (ETS). So far 139
types of standardized actions were defined and validated covering all sectors (industry, residential,
transport and tertiary) and many end-uses or technologies (insulation, efficient boilers, etc.).
The 1st period of the WCS run from 2006 to 2009 and delivered more than 65 TWh of energy
savings (above the previously set target of 54 TWh). 550 000 high-performance heating systems
(condensing boilers, heat pumps) and 340 000 thermal insulation of buildings have been
implemented totalling in 3.9 billion euros invested in energy saving operations and a reduction of
GHG emissions of 1,83 Mt CO2 per year (Leinekugel T. 2012). The second WCS obligation period
started in January 2011 and is due to end in December 2013.
The building sector is the sector where white certificates are easiest to obtain, and since the
beginning of the scheme, most action has been seen in residential buildings (over 80% of energy
savings within the scheme 30 ); the sector is also encouraged to reach certain goals for low-income
households. The Energy efficiency in the industrial sector is almost neglected, apart from the ETS.
The ADEME, together with TOTAL, launched in 2011 the 6th tender for research projects on
energy efficiency in industry 31 .
30 http://www.climatepolicytracker.eu/france
31 http://www.climatepolicytracker.eu/france

The terms ”energy service” and “energy service company”, common in Europe, appeared in France
only in late 1990s thanks to the liberalization of energy markets and due to the development of the
European Directive on Energy End-use Efficiency and Energy Services and the subsequent debates
(ADEME 2006). Energy service provision has developed in France since, but one of the most
important legislative restrictions that has impeded complex ESCO activity in the public sector is
that operation and particularly purchase of equipment in the public sector is not allowed to be
designated to private entities, only in the scope of very special and formal public-privatepartnership
(PPP) agreements. Therefore, the Government Order of 17 July 2004 on PPP creates
the possibility to draw up PPP contracts where a concession scheme is not available and where
traditional procurement contracts (marchés publics) cannot be implemented because of the legal
restriction to have separate contracts for each phase of the design, construction and operation of a
project. The new Order also allows the public sector paying the private company’s remuneration
periodically during the project, and allows that payment being based on performance indicators
previously set out in the contract (instead of being purely revenue based).
French energy policy is based on a strong tradition of public service and specialization in a given
sector. As an example, EDF was not authorized to manage activities that are not directly and
naturally linked to its main fields. It was not allowed selling a mix of energy and services, which
therefore led to the very early introduction of the logic of unbundling and thus to the creation of
companies able to bear the financial risk of operations, and this is a key factor in the ESCO industry’s
development.
Previous and current sector specific policy initiatives and regulations are as follow.
Biomass
Some important programs related to biomass-to-energy routes are discussed in the following.
• 1995- 1999: le Programme Bois Energie et Développement Local (PBEDL) was focused on
11 selected regions and concentrated on the promotion of collective/ industrial bio-heating
systems, and on the support of wood supply companies.
• 2000- 2006: le Programme Bois Energie (PBE), was launched by ADEME with the view of
developing industrial and district heating by encouraging the rational utilization of wood
wastes. It covered all France.
• Measures to raise awareness, promote best practices and provide information on collective/
industrial heating as well as integration of domestic wood heating have been introduced
overtime.
• Financial support for Collective/Industrial biomass plants:
– Investment subsidy
– ADEME (selection on energetic efficiency by euro/ tep ratio). Collective/ industrial :
max 30 % of investment cost. Wood supply companies: max 30 % of investment cost.
– Others publics subsidies:
– FOGIME : garanty fund for loans concerning investment in rational use of energy,
– FIDEME : investment fund to support companies involved in rational use of energy
projects,
– FCPR 3E (Emertec Energie Environnement) : risk capital fund for innovative companies
in energy/ environment fields

In 2010, France tendered 250 MW of biomass installed capacity, distributed between 32 Combined
Heat and Power (CHP) plants and another 200 MW for plants no smaller than 12 MW was closed in
February 2011. France targets a total installed capacity of 2,300 MW by 2020 (IEA/IRENA 2012).
It should be noted that the biomass wood fuel market in France is one of the more successful
examples of exploitation of renewable energy sources in the country over the past decade, with
biomass used mostly for heating apartment blocks.
Solar thermal
In 1999, for the metropolitan areas of France, ADEME has launched “Helios 2006 ” or “Plan
Soleil”.This medium-term solar thermal development plan (six years), aimed to the installation of
50.000 domestic solar thermal systems by 2006. The ADEME subsidies were available everywhere
in metropolitan areas and were sometimes complemented by regional or local funding (30 to
100%). The ADEME subsidies vary for a SDHW system from 690 to 1.150 Euro, depending on the
size of the system. In metropolitan areas, 100 SDHW systems were installed in 1999, 800 in 2000
and 2.600 in 2001.The area of newly installed collectors rose from 3.600 in 2000 to 12.000 in
2001.The industry target for 2010 is more than 100.000 newly installed systems, equalling 480.000
m 2 .
Besides DHW, a promising market for solar thermal in metropolitan areas is active solar space
heating (Combined system). So far, only one company (Clipsol) sold its combi-systems with
ADEME funding in 5 regions. 250 systems were sold in 2001 (about 4.500 m 2 of collector areas).
The incentive scheme changed in 2002, and the market for combined systems increased. At least 5
companies offer combined systems in France. The industry target for combined systems in 2010 is
more than 12.000 systems installed, equivalent to 180.000 m 2 of collector area.
Building sector
The main programmes and legislation in force for energy efficiency and renewable energy in
buildings are as follows:
• Thermal Regulations on new buildings in the residential sector – these have been revised
regularly since a 1974
• Thermal Regulations on new buildings in new commercial buildings – these have become
more stringent since 1989.
The aim of both regulations is to reduce energy consaumption by 40% for the commercial and
tertiary sector and by 15% for the residential sector. As regards households and tertiary sector, the
thermal building code was reinforced as of July 2005 for both households and the service sectors.
This should determinate average energy savings of 15%, compared to 2000 standards. In 2006,
6456 buildings have been audited for a total of 49.000 buildings since 2000. This measure has been
completed by demonstration projects and by OPATB program (energy efficiency of residential and
tertiary building). The total subsidies dedicated to these measures reached 19 M Euros in 2006.
Policy measures aimed at houses built before 1975 has been put in place since 1975. There are
many programmes in place to support retrofitting of housing. On 25 April 2006, France announced
a series of public-private research partnerships, including three to reduce dependence on petroleum
products and mitigate climate change. Projects slated to receive substantial public funding from the
Agency for Industrial Innovation (AII), included a €88 million programme to improve energy
efficiency in buildings through improvements in insulation, heating, lighting and ventilation. Since
2006-2007, the energy performance audit of household or building is mandatory for sale hiring and
construction.

New buildings in the tertiary sector and new public buildings may not use more than 50 kWh/m²
after mid-2011. For privately-owned new homes, this limit will become effective by the end of
2012.
In March 2011, the ministry published 16 recommendations to help reach the target for the building
sector of reducing energy demand by 38% by 2020 and realising the thermal renovation of 400,000
flats per year from 2013 onwards. How these measures will be achieved cannot be judged yet.
Plans for the future include making energy audits mandatory, strengthening thermal insulation
guidelines and increasing the levels of information available to owners, buyers and all categories of
professionals involved in the building sector.
Biomass district heating status
There are several examples of biomass heating applications in various regions around France:
• Dole, in the Jura Mountains in eastern France, has a 3.2-MW biomass-fired boiler delivering
hot water and heating to 1 800 dwellings and various larger public and private buildings.
This supplies more than one third of the energy required by the area, and uses 12 000 tonnes
of wood residues annually.
• In Normandy, a 2-MW wood-fired boiler plant supplies heating to 470 houses, a college, a
school and a sports centre. The project involved the construction of a heating network,
which was developed by a heating company.
• In Bourgogne, a district heating system due for renovation was refurbished with an 8-MW
wood-fuelled boiler. This provides heat for up to 3 500 homes, and also provides a market
for waste wood from local sawmills.
9.1.2 Existing contracts
The current contracts of facility management are concentrated primarily in the tertiary sector.
However the deregulation of the electricity market has created a new market of the offer of service
in France while making it possible for new actors to offer a service of advice focused on the energy
provisioning at the upstream of the meter.
Traditionally, the “contract of operation” model dominated the French ESCO market. It should be
emphasized that the French market cannot be fully associated with the definitions usually applied
elsewhere in Europe. Originally it was based on the combined operation and maintenance contract of
heating ventilation and air conditioning (HVAC) systems and differentiated four basic elements
(ADEME 2006, Dupont and Adnot 2004):
• P1: purchasing of fuel;
• P2: daily operation;
• P3: complete and complex maintenance;
• P4: funding for new (energy efficient) equipments.
It was necessary to separate the 4 items in the public sector in order to be able to contract separate
companies for the different tasks, to apply different VAT rates, and to be able to keep the elements
separated in the bookkeeping (Dupont and Adnot 2004). This coding and the demand of public
accounting for fixed results for a fixed price largely determined the features of energy performance
contracting (EPC) in France. For all the P1 contracts presented, a clause of profit sharing can be
integrated e.g., the sharing of energy savings, based on a previously defined heating consumption (the
market central commission in the register of the general technical specifications (Collection Marchés
Publics n°2008) defines the formulas of profit sharing). Profit sharing involves all actors but, as opposed

to a fixed price operation, decreases the payback time for the operator when he decides to invest his own
money in the facilities of the customer.
The so called “Chauffage contract” is a contract widely applied in France, which includes operation
without explicitly committment to carrying out energy efficiency investment. Under a Chauffage
contract, the contractor ensures optimal operation of an already existing system and must provide an
agreed comfort level (for instance temperature, humidity) at a lower cost for the client if conditions
remain unchanged. The contractor can increase its profits by investing in more energy saving equipment
or by procuring cheaper fuel, thus reducing the costs. These types of contracts in France are usually
long-term and include the obligation to analyse problems and identify needs for improvement in the
system, and to carry out the investment. The French operators have ‘exported’ the Chauffage contract
model to several other European countries, including Belgium, Italy, Spain, the UK, and Central-
Eastern Europe.
The first formalized contract including third-party financing (TPF) in France was signed in 1983.
This was primarily designed for financing energy saving investments in order to overcome clients’
aversion to high perceived risk of improvements that in reality were cost-effective, but not
acknowledged as such by the clients (Dupont and Adnot 2004). However, TPF model did not
particularly spread in France due to the strength of the traditional “contract of operation” model. In
presence of TPF, the ESCO provides the financing and carries out investments aiming at cutting
running costs. The investment is reimbursed through the savings obtained and the company offers a
threefold service:
• The financing
• The technical realization
• A guarantee of results
The essential clause allowing TPF in the public Markets is the clause of "Control of energy savings
with guarantee of result" (GR-ME): if the operator proposes actions reducing energy use, it can
finance them on the future benefits. The contracts with obligation of results put strong responsibility
onto the company which must fulfill successfully the conditions agreed in the contract. Thus, the
company gives its estimate on operational budgets, its guarantee on the quality of service and wellbeing
in the buildings, on the availability of steam or compressed air in the industry, on the
maintenance of the materials, and the compliance with the code of practice. Indeed the guarantee of
the results implies a perfect knowledge of the installations but also, very often, significant
investments in time for the knowledge, commissioning and adjustment of the installations. The
contract of results can be only a contract of long duration.
9.1.3 Financial institutions and schemes
The strength of the traditional “contract of operation” model and the regulatory constraints that do
not facilitate ESCOs activities in the public sector have slowed down the development of TPF in
France. Moreover, as previously introduced, France ESCOs marjet is dominated by few large
companies that have the financial means to finance projects if necessary, thus the role of banks is
limited (ESCO Status Report 2005,EC DG JRC 2005; Dupont and Adnot, 2004; ADEME, 2003).
As of 2006, 60% of the ESCO projects are financed by ESCOs themselves, 30% of the projects
using TPF, while 10% of the projects are paid for by the clients.

Therefore, the high concentration of the ESCOs market and the size of the major ESCOs companies
operating in France had led to the prevalence of an ESCO model in which the financier and the
operational company coincide.
In the recent years (partly due to the increase number of new actors operating in the France energy
market) financial institutions have acquired experience in financing energy efficiency projects and
in taking into consideration the guaranteed savings offered by some ESCos and energy performance
contracting, for example they now can offer to cover the risk of the guaranteed savings by insuring
the savings (Marino et al 2011).
Grants and subsidies are available from the regional bodies of ADEME. Furthermore, ADEME, in
cooperation with the French development bank, created a Crediting System in Favour of Energy
Management (FOGIME), which is a guarantee fund for loans for investments in sustainable energy
and renewables in the private sector..
9.1.4 Barriers
Public procurement regulations are a significant barrier to ESCOs development in France. As
discussed in previous sections the legally regulated contractual agreements for project development
in the public sector are seen as a major hurdle for the introduction of energy performance
contracting (Marino et al 2011). It has long been claimed by ESCOs that the engagement of the
private sector to provide complex solutions for the public sector would be beneficial and could
determinate innovative solutions.
The Government Order of 17 July 2004 on PPP has helped in this respect, but in order to further
increase the effectiveness of the new regulation, public accounting rules should also be revised and
the separation of operation and investment budgets should be overcome in case of ESCO projects,
where it is very important that the savings in operation budgets could be used as a levy for
investments in energy efficiency. Moreover, public procurement rules should be revised to allow
including energy performance criteria. The public sector should be required by law to improve its
energy performance in order to increase energy savings significantly on the one hand, and to serve
as a guideline to the other sectors on the other hand.
For a long time, while the market of CHP has increased very quickly in Europe, centralized
electricity production and administrative authorisations in France have slown down the
development of co-generation by independent producers and by Electricité de France. CHP units
were authorised in only a very few cases. In 1994, only 570 CHP units (3,000 MW) were operated,
mainly in industries, while the CHP potential was estimated between 5,000 and 10,000 MW by
officials, and over 15,000 MW by equipment suppliers. However, such barriers have been removed
and CHP have grown considerably in France. The main line of expansion is out-sourced cogeneration
where HVAC operators provide full service and guarantees to the host company at
reduced price for heat. The case of co-generation is now exemplary of EPC in France : 1) cogeneration
is becoming the dominant ‘Trojan horse’ used by new independent producers for
obtaining some market shares in France; 2) its development has led to the development of a series
of new services for sizing, financing, building and operating CHP units.
Other common barriers identified are:
• Trust and skepticism on the clients’ side and little understanding of the opportunities of ESCO
projects and EPC offer;

• High perceived risk of the ESCO investment, lack of expertise and experience on the financial
market;
• Non-supportive procurement rules;
• Accounting problems (investment vs. operating costs);
• Lack of ”off-balance sheet” solutions;
• Public budgeting rules (”pressure to spend”);
• Reluctance to outsource;
• Administrative hurdles, high transaction costs;
• Split incentives.
9.2 Technical framework
9.2.1 Quality and monitoring
As in other countries, measurement and verification (M&V) is the key for effective tradable
certificates mechanism applied to the promotion of energy efficiency in end-use sectors. If savings
cannot be measured they need to be calculated by comparing measurements of energy use and/or
demand before (i.e. the baseline energy use) and after implementation of the saving measure.
However, baseline conditions can change after the energy efficiency measure has been
implemented. Such changes could include changes of baseline conditions, equipment performances,
and external conditions (e.g. weather conditions). Clearly a methodology to verify and certify the
projects and their savings is a requirement for an effective M&V system. Various systems are in
place; each with different levels of accuracy and costs. These range from engineering methods
based on detailed calculations that are calibrated with onsite data to end-use metering where energy
use is actively measured with specialized equipment and expertise. The more sophisticated the
method, the higher the costs. There is no overall preferred method for all projects.
Clearly extensive and complicated M&V can be too costly for the small and medium-size projects.
Parties have therefore developed ex-ante M&V protocols that pre-define saving factors for each
type of project. Using these methods the costs of M&V – and therewith total certification costs – are
significantly lowered. Three countries have successfully developed and tested a number of ex ante
formulae covering most of small and medium size projects. All calculations have been dealt with in
statistical manner.
No matter whether ex-ante or ex-post methods are used, harmonisation of the verification process is
crucial to avoid uncertainty, duplication of effort and a potential loss of credibility in the market.
9.2.2 Software tools available
French energy efficiency (Ee) system achieved significative results:
• Industry sector most successful in reducing its energy consumption, transport and housing
sectors lags behind;
• EE efforts voluntarily implemented for decades by industry
• New energy price surge accelerating EE investment.
• ETS and PNAQ carbon markets : strong incentive effect on EE initiatives
• New French government highly committed to sustainable development. French public
opinion and financial institutions now very sensitive to Sustainable Development.
• SD is now a significant part of business development and reporting to stock exchange
From these assumptions, best practice list can be developed, in order to identify success causes of
French system and to diffuse them in other countries:

• Large political “dialogue” (Grenelle) on sustainable development launched for 3 months
with support of high level personalities (Nobel prizes MM. Stern & Al Gore) to finalize
government action program.
• Financial institutions very keen to purchase firms with high tech energy efficiency or RE
technologies.
• French banks setting up special guichetsand loan facilities for energy efficiency investment
in industry and housing.
• Importance of a clear political commitment towards energy efficiency (carrot & stick).
• Key role of a suitable legal, fiscal and regulatory framework encouraging energy efficiency
with field verification of enforcement.
• High energy prices and competition essential to motivate energy efficiency investment.
• Specialized energy service companies and financial packages needed to guarantee by
contract the expected savings.
• Suitable legal frameworks and sophisticated energy performance contracts needed to protect
business partners in ESCOs contracts.
• Corporate image and internal ethics play a decisive role for environment protection and
energy efficiency investment in large industries.
• National and regional energy efficiency centers play a decisive role especially for small &
medium size companies.
• International climate debate and issues regarding long term world energy supply key
elements to move large companies towards energy efficiency
• Importance of professional associations to promote EE among participants and dialogue
with government.
• Financing of good energy efficiency projects or renewable energy not a problem, all large
banks have developed special departments to provide services.
• Energy efficiency services becoming a major business sector with a large growth potential.
Annex: French white certificate trading system
In France a national policy based on White Certificates trading was put in practice, mainly focused
on household and tertiary sectors, with a complementary role to other existing instruments, such as
regulations, tax credit, etc, and which could be based on encouraging the market parties towards
mobilization of their demand/supply, with no involvement of subsidies.
The main drivers which underlie White Certificates policy instrument in France are essentially:
• Need to reach e important energy savings, in particular in residential and tertiary sectors
• Limits of traditional public instruments, which are very often not adapted
• Lack of public money to implement energy savings programmes
• The expected advantages are :
• Economic efficiency
• Direct relationship between obliged parts, the energy suppliers, and the energy end-users
• Open scheme: the energy suppliers can propose measures not planned yet
• New means of financing energy efficiency projects : between 500 and 1000 M€ over three
years
• Instrument adapted into liberalized energy markets
The mandatory targets of the herein considered French scheme involve for the first three years
period some 54 TWh of energy consumed. The saving actions must be performed in the three years

period 2006-2008. Within this period, there are no annual deadlines to be respected, and the targets
will be verified only at the end.
The overall target will be shared among the different energy sources covered, and among the
obliged actors, depending on their market share. Obligation concerns a very wide collection of
subjects: energy suppliers in the fields of electricity, natural gas, LGP, domestic fuel (not for
transports), cooling and heating.
As a rule, the total energy savings targets are shared among suppliers on the basis of annual sales
beyond a fixed threshold.
This threshold depends on the kind of supplied energy:
• in case of suppliers of electricity, natural gas and heating or cooling, the threshold proposed
t is 0.4 TWh in the year and for LPG 0,1TWh ;
• in case of domestic fuel suppliers, there is no threshold: the obligation occurs “from the first
litre”, according to a specific request of the professional organization.
The amount of the targets over an obliged entity is proportional to its assessed sales volume.
An annual adjustment system is considered to account for variations in market shares (increase,
decrease, new entries). All the domestic fuel suppliers are entrusted with individual obligation;
chance will be granted to transfer these obligations to a professional consortium structure. The
collective structure will be in charge of the implementation of the sum of the obligations of the
components.
All end-use sectors are eligible. Energy substitution of fossil energies with renewable energies is
eligible, but only in few selected cases, such as heat production and sanitary hot water production.
Pre-approval for the eligibility of a technology is not mandatory but possible. Standardized projects
are encouraged, since they are considered eligible by default.
There are some definitely not eligible technologies, such as installations implied in the CO2
abatement UE Directive, savings from only substitution between fossil fuels, installations required
to fulfill the regulations in force.
Any operator can make savings projects and get certificates. A threshold of savings exists for an
operator to be eligible. At present, the threshold is 1 GWh. Residential fuel suppliers can cope with
difficulties in reaching the threshold: possibility (not obligation) exists for them of gathering
together into a collective professional structure. Operators must show that they comply with criteria
for additionality. These criteria depend on the obliged/non-obliged features of the operator
performing the energy saving project:
The kind of the eligible projects is as open as possible to allow for compliance with target in the
widest and most concurrent way. As an illustration, here’s a list of potential actions:
• substitution with low energy light bulbs
• loft insulation
• use of double glazing
• installation of heating control mechanisms
• replacement of domestic appliances with more efficient equipment
• replacement of boilers or water heaters by more efficient equipment or thermal renewable
energy equipments
• fitting of insulating jackets to water heaters
• boiler maintenance
• creation of wood-fired heating systems for district heating or in industry
The White Certificates are negotiable property titles (White Certificate = n saved kWh, according to
the standard evaluation procedures described above). They are delivered by a National Public Body
(DRIRE - Directions Régionales de l'Industrie de la Recherche et de l'Environnement).

The White Certificates must be returned by the obligated parties to the delivering Body (Minister of
industry) at the end of the compliance period, according to the relevant apportionments; after
returning, clearance of these titles will occur. Before this date, the market will reconcile possible
lack and excess of titles through a gradual and continuous exchange. Price of transactions will
depend on the market but an upper limit is given by the value of the penalty for non-compliance
(2c€/kWh : payment of the penalty cancels the obligation). The Responsible of the National
Certificates Registry will publish the yearly average price of transaction for Certificates.
Elementary Energy Efficiency actions involving products or widely exploited services are pointed
in each sector (residential/tertiary sectors, industry, transport). Standardized methodologies are
being set up for saving calculation. These methodologies are based on fast and straightforward userfriendly
procedures without complex details. Lump evaluation of energy savings are established for
each action, expressed in kWh of final energy, cumulated and present-worthed over the life of the
product (the so called CUMAC) :
CUMAC = EE * DV *Ca
where :
EE = annual energy savings, DV = lifetime of the action, Ca = discount factor.
The savings are cumulated over the time life of an equipment by actualizing the annual savings with
a discount rate of 4 %.
Sources
• Agence de l'Environnement et de la Maîtrise de l'Energie (ADEME). 2006. Current situation
of the Energy Efficiency Services market in France. Country Overview. EUROCONTRACT
project.
• Bertoldi P., Berrutto V., De Renzio M, Adnot J.,Vine E. ‘How are EU ESCOs behaving and
how to create a real ESCO market?’ Proceedings ECEEE conference 2003

• Bertoldi P., Boza-Kiss B., RezessyLatest S. ‘Development of Energy Service Companies
across Europe- A European ESCO Update’ Institute for Environment and Sustainability,
JRC. EUR 22927 EN - 2007
• Dupont, M.,Adnot,J.,2004.’Investigation of actual energy efficiency content of ‘‘energy
services’’ in France .In: Bertoldi,P., Atanasiu,B.(Eds.), Proceedings of International
Conference on Improving Energy Efficiency in Commercial Buildings
IEECB’04),Frankfurt(Germany),21–22April2004.OfficeforOfficial Publications of the
European Communities, Luxembourg.
• IEA/IRENA (2012) ‘Global renewable energy policy and measures database’ available at:
http://www.iea.org/textbase/pm/index.html Accessed: March 2012
• Leinekugel, T. 2012 ‘The French white certificates scheme. Second target period: key issues
and expectations’Presentation of the Ministère de l'Écologie, du Développement durable,
des Transports et du Logement. Available at:
http://www.iea.org/work/2012/pepdee/Leinekugel%20Session%204A%20.pdf
• Marino A., Bertoldi P., Rezessy S., Boza-Kiss B.‘A snapshot of the European energy
service market in 2010 and policy recommendations to foster a further market development’
Energy Policy39 (2011) 6190–6198

10 Germany
10.1 Legislative, Financial, contractual and marketing framework
10.1.1 Legal background for TPF and ESCos
The term ESCo is hardly used in Germany. Instead, this business model is referred to as
Contracting. In order to prevent confusion concerning the terms describing contracting, the
DIN 8930-5 “Contracting” (2003) defines the basic terms, several alternative contracting schemes,
service components, pricing for services, application areas and the legal background.
Heat contracting is legally equal to district heating, as long as the heat producing device is owned
and maintained by a party (in this case: contractor) different than the building owner. 32 Along the
BGB, the general regulations on district heating apply (AVBFernwärmeV). 33
Furthermore, laws regulating service contracting and heat delivery have to be considered.
In the residential sector the regulations on heat cost allocation to tenants (HeizkostenV 34 ) is of
relevance while public bodies have to follow the regulations on the commissioning of public
contracts (VGV 35 ).
10.1.2 Existing contracts
Several reports (e.g. 36 ) state that more than 500 ESCO´s are active in the German market. Only a
fraction of these companies, however, is relevant to this project. Some companies are basically
utilities providing district heating and others are specialized in industrial customers. Most
companies state that they are also providing heat from biomass or solar thermal but reference
projects are not published. Many companies are clearly specialized on natural gas technologies.
The German Norm DIN 8930-5 describes two main contracting schemes:
Plant / Operation contracting
This scheme is referred to as Energieliefercontracting (Energy supply contracting). In this case, the
contractor plans, finances and constructs new heat production devices or takes over an existing
device. Over the contract duration (typically 10 – 20 years) the contractor is responsible for plant
operation, maintenance and attendance. He buys primary energy and sells heat to the customer.
Energy savings of course are part of these projects since new or refurbished boilers work more
efficiently. The customer usually pays a basic price that covers the contractor’s investment costs,
including loan repayment. The basic price also has a component covering plant maintenance. This
cost component is flexible regarding the increase of average salaries. The second part of the
monthly payment depends on energy consumption.
In most cases, the customer has higher total heating costs after the contracting project, since no
investment had to be paid for before the contracting project. However, most customers save
significant amounts when the costs of alternative solutions (i.e. project implementation by the
32 Kramer, D.R.; Energieeinsparung im Mietwohnsektor durch Wärme-Contracting; ZUR 6/2007.
33 AVBFernwärmeV: Verordnung über allgemeine Bedingungen für die Versorgung mit Fernwärme; available at:
http://www.gesetze-im-internet.de/bundesrecht/avbfernw_rmev/gesamt.pdf
34 HeizkostenV: Verordnung über die verbrauchsabhängige Abrechnung der Heiz- und Warmwasserkosten; available
at: http://www.gesetze-im-internet.de/heizkostenv/index.html
35 VGV: Verordnung über die Vergabe öffentlicher Aufträge; available at:
http://www.gesetze-im-internet.de/vgv_2001/index.html
36 Bertoldi, P. et al.; Latest Development of Energy Service Companies across Europe; JRC; 2007.

customer) are calculated for comparison. The energy saving aspect of course is part of these
projects: The contractor does not allocate his heat production costs to the customer who pays only
the heat consumed on a kWh price basis (kWh prices are flexible depending on fuel prices). The
contractor therefore will see to produce heat in the most efficient way. However, energy efficiency
measures beyond heat production or guarantees regarding energy (cost) savings are rarely part of
these projects.
This contracting scheme therefore is not in absolute compliance with the ESCO definition given by
Bertoldi et al. (2005). 37 It is also not mere energy service provision, since the contractor does not
allocate all heat production costs to the customer and therefore takes certain financial and technical
risks. The efficiency of heat production is a crucial aspect in this scheme as it increases the financial
benefit of the contractor.
The significance of this scheme is significant in Germany: Around 84 % of all contracting projects
fall into this category. 38
Energy Performance Contracting (EPC)
EPC (Einsparcontracting) is implemented in Germany as defined by Bertoldi et al. (2005). 36 In
Germany, this scheme rarely includes the installation of new heat production devices. However,
there are projects that combine EPC characteristics and Plant Contracting but then the investment,
e.g. in new biomass boilers, is usually not repaid by energy cost savings.
Heat supply contracts need to address the following issues 39 , 40 , 41 , 42 :
• Contractual partners and object of agreement
• Definition of contractual partners; Description of buildings to be supplied (including layout
of boiler room and property borders); Definition of the duties of each partner;
• Reference to AVBFernwärmeV
• Serves as the basis for the contract; Limits contract duration to 10 years; Longer contract
durations must be agreed upon separately;
• Heat delivery
• Minimum heat delivery; Heat output; Hand-over point; Quality of heat medium;
• The right to use the property or installation room; Accession rights;
• Ownership
• Ownership of installations during contract duration; Securities for the contractor;
• Accountability
• In case of interruption of heat delivery; General liability insurance; Warranties;
• Energy monitoring
• Number and quality of heat counters;
• Contract duration;
• Including contract extensions and legal succession; Termination rights;
• End of contract
• Deconstruction of installations; Transfer of installations to the customer;
• Pricing and payment
• Basic prices and kWh prices; Price adjustment; Starting prices; Payment schedule; Payment
method; Contract violations; Billing modalities;
37 Bertoldi, P & Rezessy, S.; Energy Service Companies in Europe; JRC; 2005.
38 Stoppa, F.; Wärmecontracting; Verband für Wärmelieferung (VfW); 2009.
39 VfW; Leitfaden für die Ausschreibung von Energielieferung; 2000.
40 Fricke, N.; Gestaltung von Wärmelieferungsverträgen; AGFW.
41 Kralemann, M.; Wärme aus Holz als Dienstleistung; 3N.
42 Neusinger, U.; Energie-Contracting für Kommunen; Rödl & Partner.

• Necessary insurances
10.1.3 Financial institutions and schemes
In general, contracting schemes with reliable long-term backflow of funds are attractive for
financing institutions, especially when the customer belongs to the public sector.
However, banks have to consider a number of risks: 43
• Not only the customer’s solvency poses a risk (not in the public sector); The contractor’s
reliability has to be considered as well; These risks are minimized when contractors can
refer to a large number of contracts and risks are divided;
• The viability of contracts has to be assessed; This can be difficult since the related contracts
are very complicated; Issues concerning price adjustment, ownership structures, distribution
of duties and risks to the contract partners have to be solved; Banks should be included in
the contract design at an early stage in order to prevent problems;
• Liability, warranty and insurance;
• Banks often do not have the know-how to assess the technical setup of installations,
especially energy saving potentials and technical risks can hardly be verified;
“Forfaiting” is one way to increase the security for the bank: The contractor sells future receivables
to the bank. Risks in the public sector can be further minimized by “non-recourse forfaiting”,
meaning that the municipality pays the bank independently from e.g. the contractor’s
malperformance. In doing so, loan conditions can be improved significantly.
In principle, all banks are potential partners for contracting projects. Especially (semi-) public banks
have a lot of experience in financing RE projects, including energy efficiency and contracting
projects. Examples would be the banks owned by the federal states (Landesbanken) or banks with a
social or environmental background (Aufbau- und Umweltbanken).
It is important to note that contracting projects with RE technologies are also eligible in RE
promotion programmes granting subsidies or low-interest loan. The KfW credit programmes are the
most prominent examples. 44
10.1.4 Barriers
• The concept of contracting is not well known; Especially insecurities concerning long
contract durations and complicated contracts intimidate potential customers;
• Contracting costs are seen as additional costs and potential customers prefer
implementing their projects themselves;
• One main barrier in the residential sector is that all tenants have to agree with the
implementation of contracting projects unless this option was already foreseen by the
initial rent contract;
• Complicated commissioning procedures in the public sector: bidding process; contractor
has to deal with a number of different contacts (several authorities and hierarchy levels);
• Bid invitations often do not state exactly what the customer needs / wants; Customers
expectations often are too high; In other cases the bid invitations give too many
specifications;
• Evaluation and comparison of bids can be a problem;
43 Herter; Contracting aus Bankensicht; SAB Sächsische AufbauBank; 2006.
44 www.kfw-foerderbank.de

• Not all contracting related details are clearly regulated by law.
10.2 Technical framework
10.2.1 Quality and monitoring
The flexible portion of the contracting costs depends mainly on the consumption of heat. According
to AVBFernwärmeV, heat consumption has to be measured using calibrated heat counters. The
counters have to be calibrated every five years. They measure the volume of flowing water as well
as temperatures in the flow line and the backflow. Other means of measurement are not to be
applied and deviations from this method have to be agreed upon explicitly by the contract
partners. 45
Billing can be done monthly or annually and meter-reading needs to be done accordingly and on a
regular basis. If billing is done annually the contractor can claim advance payments whose amount
depends on the consumption in the previous billing period.
10.2.2 Appropriate technology for BioSolESCos
Contracting projects combining biomass and solar thermal technologies are rare in Germany. The
installation of solar thermal collectors often proofs to be financially disadvantageous even when
public subsidies are granted. Furthermore, contractors are often specialized in boiler or collector
technologies. Only few equally use both technologies.
Many contracting actors state that they offer biomass contracting in addition to contracting with
fossil fuels, while others are specialized in biomass contracting. Biomass heating fuelled with wood
chips or wood pellets have shown to be financially attractive when the contract partners agree on
long contract durations (20 years). Long amortisation times are necessary to balance higher
investment costs for biomass boilers. After 20 years the lower costs for wood fuels provides
significant financial advantages compared to fossil fuel technologies.
Biomass boilers often are designed to cover the basic heat load while efficient gas boilers (or
refurbished existing fossil fuel boilers) cover the peak loads.
10.2.3 Software tools available
Several basic economic evaluation tools are provided by energy agencies and associations. One
example is the contracting-tool provided by the energy agency in Nordrhein-Westfalen. 46
10.3 Lessons learned
• According to several studies the potential for contracting and energy saving is huge in
Germany and widely un-tapped;
• A well organized contracting business sector is necessary to provide information on
contracting scheme, to do lobbying in order to adapt laws, to standardize definitions and
procedures, to provide advice and to provide tools to the sector. In Germany, four
associations are performing these tasks;47
• Energy agencies (and other organisations) providing expertise and assistance to e.g.
municipalities in implementing contracting projects are crucial for increasing the uptake
of contracting schemes;
45 Alter, M.; Contracting-Verträge richtig gestalten - Messung und Abrechnung; Rechtsanwälte Strunz, Winkler, Alter.
46 Available at: http://www.energieagentur.nrw.de/contracting/page.asp?InfoID=6368&rubrik=&termin=&TopCatID=&RubrikID=
47 VfW (www.energiecontracting.de); ESCO Forum im ZVEI (www.zvei.org); PECU (www.pecu.de); Forum
Contracting (www.forum-contracting.de).

• Many contract related details remain to be clearly regulated by law; Uncertainties
resulting from unclear legal status are a main barrier to contracting uptake;
• The eligibility of contractors in national and regional support programmes (subsidies;
loans) is important to boost the development of the RE contracting sector;
• Contractors offering the whole array of technologies and fuels can provide the most
efficient concept depending on the project situation;
• Contracting is often not applicable in smaller projects with low investments; The
pooling of buildings is an appropriate tool to increase project volumes;

11 Greece
11.1 Legislative, financial, contractual and marketing framework
11.1.1 Legal background for TPF and ESCos
The status of the Greek ESCo market is still considered to be negligible and has not been deployed
yet either in the public, or in the private sector; although there is a large energy conservation
potential mainly in the building sector (public administrative buildings, hospitals, hotels, sports
centres etc), as well as in other sectors such as the industrial.
In June 2010 one of the main barriers of the stagnation of the ESCO market development, which
was the absence of a law for the ESCO business operation, was overcome with the voting of Law
3855/2011 (GOG Issue A’95/23/06/2020). This law is the transposition of the EU Directive
2006/32/EC – “Energy Service Directive - ESD” into Greek legislation, and it clarifies the
legislative framework for the operation of an ESCO and allows to many companies, active in the
RE/SE field, to enter without doubts into the energy services market. It is expected that with this
law the energy service market will move forward and be developed and that a number of companies
that already act as ESCOs or are willing to act as ESCOs, will be involved in energy projects both
in the public and private sector.
According to Law 3855/2010 an ESCo registry was also created (MD D6/13280, GOG Issue
B’1228/14/06/2011), where companies that fulfil certain criteria (financial, expertise etc) can be
registered and act as ESCos.
Besides the voting of Law 3855/2010, there has been a former development in 2005, when the
Greek government issued the Law 3389/2005 on Public Private Partnerships (PPPs) which includes
multi-year concession contracting regarding the installation, operation and maintenance of
leased/outsourced energy efficient equipment in buildings. The new provision of PPP framework
provides a field to boost, through further implementing acts and administrative mandates, the
ESCOs business activity in the public sector. With this Law, Public Authorities are set free to
cooperate (“Partnership Contracts”) with Private Bodies for the construction of works or the
provision of services in areas of their jurisdiction. The Law applies to the construction of hospitals,
schools, even road networks and also to the provision of services, including energy services [Market
Analysis - Greece, reported by CRES, 2007 Eurocontract IEE project].
In February 2011, a national program with the title: “Performing EPC in the public sector” was
launched. This program is implemented by CRES and is co-financed under the NSRF 2007-2013.
In the framework of this program, CRES will support the preparation and the implementation
procedure of selected EPC pilot projects in buildings of the Public and the Broader Public Sector.
This program, aims at accelerating the development of the Energy Service market in Greece, by
applying rules of healthy competition, for the implementation of pilot projects, that will highlight/
bring forward the benefits of such a cooperation, and will set an example for the implementation of
future EPC projects in other buildings of the Public Sector, which present high Energy saving
potential.

More specifically, in the framework of this program, the implementation of energy saving measures
is foreseen, through EPC pilot projects in five (5) buildings of the Public Sector, with the technical
and scientific support of CRES towards the participating Parties. The outcomes of this program will
prescribe the operation framework of the ESCO market as far as the implementation of energy
projects in the Public Sector is concerned, and will contribute in identifying the technical,
procedural and legislative parameters and conditions for implementing this type of Contracts and
Projects
11.1.2 Existing contracts.
Practically speaking, the ESCo applications in Greece are very few and there are only few
companies in the Greek market, which occasionally act as Energy Service Companies.
As of 2009 there are two companies active in the Greek energy service market, Helesco SA and
COFELY Hellas SA. The first one is an engineering consulting company with its core business
focused on the provision of energy services, while the second one is a small national facility and
energy management company (subsidiary of GDF Suez) providing facility management of
installations and working with the ESCo concept as a side business (Bertoldi, 2010).
In the past only a few ESCo attempts have been made where mainly solar thermal projects were
involved. Apart from CRES, only two companies (SOLE LTD and SOL ENERGY HELLAS Inc.)
have made efforts in order to act as ESCos, in applications which regarded a mixture of energy
efficiency and solar systems, thus resulting more attractive financially. [Market Analysis - Greece,
reported by CRES, 2007 Eurocontract IEE project].
The record of ESCo projects in Greece up to now consists of only few attempts that have been made
from some companies in order to play the role of an ESCO for the application of TPF schemes:
case (Achaia Claus - winery): CRES was responsible for the tele-monitoring equipment
design / procurement, as well as for issuing the «solar bills». For this project the role of the
ESCo was played by the solar system manufacturer (SOLE LTD).
• 1 st
• 2 nd
case (Mevgal- dairy): CRES played the role of the ESCO.
SOL ENERGY HELLAS Inc. has performed only one project (in a hotel) with the TPF method and
several others with the GRS method (Guaranteed Solar Results).
The contracts of the first two projects (industrial) were in the form of Build, Own, Operate and
Transfer (BOOT) while the third one (hotel) was in the form of Build, Operate and Transfer (BOT).
In the case of GRS the supplier of the solar installations provides the user with a bank guarantee
linked with the monitored performance of the systems.
The structure of the existing contracts is the following:
• For the two installations (winery and hotel) for which the System providers / manufacturers
played the role of the ESCo, the user paid no money for the installation of the systems, but
paid the manufacturer the amount of energy supplied by the system, based on a fixed rate
per kWh decided upon before the installation of the system. For the industrial project, the
Centre for Renewable Energy Sources (CRES), undertook the monitoring of the system,
which determined the energy supplied by the system, while for the hotel the system

performance was monitored by the installer. When the user paid the initial investment of the
system back, the system became the exclusive property of the user.
• For the industrial project (dairy industry), where CRES played the role of the ESCo, the
structure of the contract was based on the provisions of the draft law "TPF of Energy
Investments for Energy Saving, Cogeneration & Independent Generation of Electrical
or/and Thermal Energy from RES".
In the framework of the ST-ESCOs IEE project, in which CRES also participated, there has been an
effort to implement solar thermal applications through ESCo projects.
Aiming at this direction, two calls for interest, one for end-users and one for ST-ESCO developers,
were published. More than 24 end-users (industries, hospitals, hotels, sport centers, etc) as well as
20 possible ST-ESCOs developers have expressed their interest to further investigate the possibility
of realizing relevant projects. Some of the first lessons learned from this procedure were that
developers were somehow reluctant to proceed since several issues related to the financing of the
projects were vague, while at the same time it seemed more feasible that ST-ESCO projects should
better be accompanied by other measures.
Eight pre-feasibility studies were prepared, where all the main parameters from the technical side
(plant components and energy yield) as well as from the economic one (terms of contract and
benefits) were examined. The highest obstacle for the realization of the studies was the fact that the
40% National subsidy mechanism has been interrupted and has not been reactivated since then.
However, for two of the studies (Papageorgiou Hospital in Thessaloniki and Theotokos Elderly
house in Konitsa) it was estimated that the realization phase could start even without the subsidies.
For the Papageorgiou hospital case study, a simplified call for tenders was prepared in order to
accelerate the procedure for an ST-ESCO agreement, while at least one company (AXIMA) was
seriously evaluating the possibility to undertake the role of the ESCO before the reactivation of the
National subsidies procedure. Unfortunately in the end the two parties were not able to reach an
agreement, so the project was not implemented.
In what concerns the study of Konitsa, it was examined to implement a combination of solar and
biomass applications. Unfortunately neither this study was implemented.
In general in Greece till now there is no model contract available for ESCo projects.
11.1.3 Financial institutions and schemes
The financial institutions are not familiar with energy efficiency and ESCo projects, resulting in the
lack of commercially viable project financing due to conservative lending practices.
Low awareness, not good understanding of how an ESCo operates, no previous experience, many
ambiguities for the whole ESCo procedure leading to uncertainty.
11.1.4 Barriers
The barriers of the ESCo development in Greece were also examined in the framework of the
EUROCONTRACT IEE project, in which CRES has participated. The scenery has not changed
much since then and most of the barriers that were documented in that project still exist. Of course

in view of the transposition of the ESD into Greek legislation, some of the fundamental barriers of
the Greek ESCo market are expected to be overcome. These barriers comprise to:
• The missing of a legal consolidation of ESCos.
• Till now there is no ESCo association, although there are a lot of companies, already
involved in implementing energy saving measures that would like to act as ESCos.
• The project financing, investment, design, construction and insurance mechanism is not well
defined and there are no guidelines available up to now.
Besides these barriers that are expected to be regulated from the new law, there are additional
barriers that are more market oriented and are mentioned below:
• The end-users both in the public and private sector, are willing to enter only into short-term
contracts of 2 or 3 years maximum, so energy projects with payback periods of 10 or more
years, which are common periods for ESCo projects, cannot easily be accepted among the
end-users.
• The great majority of the companies which plan on acting as ESCos in the future, are
companies with no credit history and limited own resources, so its most likely that they
won’t be able to invest in the project they recommend and may only enter the energy service
market and implement energy projects if they guarantee the savings, and the end users/
clients assure the financing on their own.
• The financial institutions are not familiar with energy efficiency and ESCo projects,
resulting in the lack of commercially viable project financing due to conservative lending
practices.
• Biomass applications are not very well developed in Greece. There is low awareness among
end users in what concerns this technology (e.g. pellets boilers) and there are also some
legislative barriers since it is not allowed in the two major cities of Greece (Athens and
Thessaloniki) to have central heating systems with biomass boilers (according to PD
103/1993/B-369).
11.2 Technical framework
11.2.1 Software tools available
ST-ESCo software tool is available for the technical and economical analysis of solar thermal
applications. The software tool starts with a simplified interface that leads the user to enter data in
the Energetic Module –called EnMo and Economic Module – celled EcMo. The Energetic Module
is a simulation tool based on TRNSYS, with a user friendly interface where the user can introduce
all technical data referred to the solar thermal system. The Economic Module is the one that does
the economic, financial and contractual analysis, based on the EnMo results or other energetic
results coming from any other energetic software.
(http://www.stescos.org/tool.htm)
11.2.2 Lessons learned
Although there is not much experience from implementing ESCo projects in Greece, some lessons
have been learned both from the few existing operations and the former IEE projects such as ST-
ESCOs and EUROCONTRACT that dealt with implementing ESCo projects. The gained

experience shows that the technical solutions applied in an ESCo project should be as simple as
possible without, however, sacrificing the systems’ reliability.
The contract between the ESCo and the end-user has to be clear and simple but should cover,
possibly, all aspects concerning billing, end-user consumption along the future, insurance and risks
management.
In case there is a heat supply contract, it should contain all technical prerequisites and conditions
that are requested in order to assure a sound operation and the expected energy efficiency from the
measures applied. The contract must fix the minimum amount of energy that the customer is going
to use and provisions have to be taken for the case that less energy is consumed by the customer
than the minimum amount that is agreed in the contract. In case of lower consumption, either a
basic price or a penalty fee may be charged to the customer. In some cases it might be sensible to
fix a profile for the range of the consumed energy over the year. This could be helpful for matching
and optimization between the available and the consumed energy.
Concluding, it should be stated that the most crucial aspect, towards the gradual developments of
ESCO contracts in Greece, is the formulation of a well structured policy and legal framework,
whereas with the implementation of measurable targets, criteria and certified bodies, such
instruments will be able to operate as parts of an overall medium-long term energy policy strategy.

12 Hungary
12.1 Legislative, Financial, contractual and marketing framework
12.1.1 Legal background for TPF and ESCos
Hungary has a feed-in tariff for small-scale renewable energy (below 6MW) heat for district heating
and single buildings 48 and a funding scheme to increase the use of renewable (see 3.1.3). Third
party financing from banks is not an issue in Hungary, as the banks are willing to finance
performance contracts, at least to established actors in the field of energy services.
12.1.2 Existing contracts
There are about 30 ESCos in Hungary, and in 2005 50% of the ESCo operations were done in heat
and hot water, and 9% in renewable energy (overlapping exists). The ESCos are equipment
suppliers, engineer eperforming ESCo activities and subsidiaries of financial institutions. Utility
based ESCos are a growing part of the ESCos. 49
Several different business models in Hungarian ESCos were found 50 :
• A specific company is established for the project, and app 80% of the investment is
financed by a loan, the heat energy is used by the owners of the company, and if there is
excess heat and/or electricity, it is sold to the public grid
• The ESCo invests in the heat plant, has long contracts with the clients. The heat energy price
will be significantly lower than previously and the electricity price a little lower (if CHP).
The client can lease the area of the plant to the ESCO and create income from it.
12.1.3 Financial institutions and schemes
The Hungary Energy Saving Credit Fund/German Coal Aid Revolving Fund (GCARF), financed
initially by the German Federal Republic Government and established by the Hungarian Ministry of
Economic Affairs, finances energy efficiency projects. The fund grants loans, which have a
preferential interest rate; 1/3 of the basic interest of the Hungarian National Bank. The payback time
of the loan is up to 6 years. Industrial companies, municipalities and district heating companies are
eligible for the loans. Eligible technologies include energy transformation, heating, lighting,
renewable, etc. The maximum amount of the loan is 80% of the investment and criteria is tied to the
total cost savings and energy savings. The fund is administered by the Hungarian Energy Centre 51
In previous years, the World Bank and International Finance Corporation have also funded ESCos
in Hungary through their The Hungary Energy Efficiency Co-Financing Program (HEECP), which
48 Kiss, Benigna in Urge-Vorsatz, Diana: An assessment of Energy Service Companies (ESCos) Worldwide. 2007.
49 Kiss, Benigna in Urge-Vorsatz, Diana: An assessment of Energy Service Companies (ESCos) Worldwide. 2007.
50 Rodics, gergely, ESCos in the Hungarian energy market. 2004 Presentation
51 http://ase.org/contenct/aticle/detail/1292 and http://www.energiakozpont.hu/index.php?p=181

provided partial credit guarantees. The programme ended in 2001, but it succeeded to make the
ESCo model a very useful approach for improving energy efficiency. 52
As of March 2009, renewable energy applications can receive funding from the EU Structural
funds (KEOP 2009/4.2.0 and KEOP 2009/4.4.0 53 ) Local heat and cooling supply from renewable
sources and Heat and/or electricity production from renewable sources for use of biomass,
biogas, geothermal, solar, water, wind energy and combinations of them. The funding is available
for project preparation, management, intangible assets and tangibles. The subsidy can account for
10-60% of the costs, up to app 3,3 MEUR (1000 million HUF). The grants are available for both
public and private actors.
In May 2009 The European Bank for Reconstruction and Development, EBRD, granted a loan to
Raiffeisen Bank Zrt. To finance the municipal sector. The loans will be forwarded to municipalities,
municipal companies and energy saving companies. The target of the loans is to increase the energy
efficiency in the municipal sector in Hungary. 54
12.1.4 Barriers
The relatively low price of fossil energy is a barrier in the Hungary as well is in most Eastern
European countries. Small ESCos have trouble financing especially the pre-implementation phase
as no income is generated during the background studies and baseline data gathering. They do not
have the capital for the app 20% own financing of the projects. Large, established ESCos do not
have this problem, as they have the equity and capital for the own funding part. Another barrier is
that the ESCo concept is not well known in Hungary. The problem in the municipal sector is the
commitment of the municipal officers to long term contracts, and the public procurement
procedures take a long time and may not be assessed on energy saving criteria but only the price.
The incentives of the building owner and the user do not necessarily meet, and the investment is not
made based on this. 55
The absence of baseline data as a whole is a barrier in Hungary , as the electricity invoicing has
been based on estimates and no verified consumption numbers can be given for the buildings. This
restricts proving the energy savings, which are the basis of the ESCo operation. 56
12.2 Technical framework
12.2.1 Quality and monitoring
A lack of appropriate energy consumption measuring is a problem in Hungary. The verification of
the previous and new consumption is necessary to prove the savings in energy after the
implementation of an ESCo operation.
52 europeandcis.undp.org/.../SLF%20Loan%20Guarantee%20Note%20Draft%20v1.5.doc and
http://www.sefi.unep.org/fileadmin/media/sefi/docs/publications/RiskMgt_full.pdf
53 http://www.business2hungary.hu/engine.aspx?page=Itdh_Priority_Sectors_Renewable_Energy
54 http://www.ebrd.com/new/pressrel/2009/090604.htm
55 Kiss, Benigna in Urge-Vorsatz, Diana: An assessment of Energy Service Companies (ESCos) Worldwide. 2007.
56 Berrutto et al. Developing an ESCo industry in the European Union. 2004

12.2.2 Appropriate technology for BioSolESCos
In 2005 the majority of ESCo operations in Hungary were focused on heating and hot water
applications and renewable accounted for only 9%. There is an opportunity for the renewable
energy sector to increase its share of ESCo operations.

13 Ireland
13.1 Legislative, Financial, Contractual and Marketing Framework
13.1.1 Legal Background for ESCOs
There is no particular required legal format for an ESCO
The constitution can be any of the recognised formats in Irish law as follows:
(not sure for Irish but generally similar to UK for company law)
• Public Limited Company
• Private Company Limited by shares
• Private Company Limited by guarantee
• Limited Liability Partnership (LLP)
• Community Interest Companies
• Industrial and Provident Society
• Trust
• Unincorporated Association
It is suggested that Private Limited Company would be the most appropriate vehicle for most
ESCOs as it is the most flexible. Whether it is limited by shares or guarantee will depend on the
aims of the ESCO.
Third Party Finance (TPF) is deemed to be any finance provided by a party other than the ESCO
itself and may be commercial (eg banks or other private investors) or public (eg grant funding).
There are no particular rules relating to the provision of private finance of ESCOs in the UK save
those that apply to borrowing and contracts generally.
Many ESCOs are likely to be regulated entities for State Aid purposes. Any sources of public
funding must abide by the State Aid rules as laid down by E C Treaty. Various exemptions are
available and include:
De Minimus
Environmental Protection
The definition of State Aid is not confined to direct funding and can include a variety of other
benefits including low interest loans, rate rebates, loan guarantees etc etc
13.1.2 Existing Contracts
By definition contracts between ESCOs and their energy users are likely to commercially
confidential.

Purchase of energy (heat and power) from an ESCO by a public authority (eg local authority,
prisons, National Health Board etc) will be subject to Public Procurement Rules.
All contracts should address certain basic principles:
• Duration
• Price and price revision
• Payment
• Security of supply
• Default by either party
13.1.3 Financial Institutions and Schemes
Finance almost impossible to obtain from financial institutions means a dependence on investment
funds and private investors. This requires time and financial proficiency to obtain.
Fiscal incentives currently available include:
Enhanced Capital Allowances (for qualifying technologies)
Feasibility and capital grants (from SEI grants sections – eg. Reheat scheme)
Grants
Renewable Heat Deployment Programme (ReHeat)
Combined Heatand Power Deployment Programme
Support for Exemplar Energy Efficiency Projects (SEEEP)
13.1.4 Barriers
• Conventional fuel prices at low point
• Lack of confidence in technologies
• Lack of knowledge among many private investors
• Potentially low and slow rates of return
• Legislative pressures for new Build, but new Build almost completely slowed
• Insufficient government financial incentives or misdirected
• Lack of understanding of ESCo options by public and private clients
• Lack of long-term Credit worthy customers
• An ESCo contract is best negotiated between ESCo and client. This is difficult with Public
procurement process.

14 Italy
In this section the Italian background for ESCo, and BioSolESCo in particular, is reviewed. In
particular, the report aims to assess the legislative, financial, contractual framework and to
investigate the main technical and non technical barriers towards the development of Bio-Sol-
ESCOs approaches in Italy. The overview is carried out by means of a comparative assessment
of policy measures put into practice, literature review of exemplar projects developed so far,
interviews with stakeholders and main actors in the ESCO business.
A list of interviewed people and references to useful reports and surveys for the Italian case are
provided in attachment.
14.1 Legislative, Financial, contractual and marketing framework
14.1.1 Legal background for TPF and ESCos
In Italy, specific policy measures related to energy efficiency, renewable energy and energy
management were implemented since the energy crises of 1973 and 1978. It could be useful to
differentiate the legislative framework between measures before and after 2004, which is the
year when the existing energy efficiency support measures (the so-called White Certificate
scheme) were put into practice. Among the others, it is possible to list the following laws:
• Law 10/1991 which pioneered in the field of reduction in energy consumption and in the
renewable energy sources;
• CIPE 6 resolution n° 137/1998: “Guidelines for national policies and measures for the
reduction of greenhouse gasses emissions”;
• Presidential Legislative Decree 412/93 about energy efficiency and rationale use of
energy; it introduces the first definition of “heat sevice”, and defines the technical rules
to design, install, operate and manteinance thermal energy plants;
• Legislative Decree 16 March 1999, n. 79 (n° 79/99) which concerns the liberalization
and unbundling of the electricity sector, and introduce a market system to support
renewable electricity (tradable green certificates);
• Legislative Decree 23 May 2000, n. 164 (n° 164/00),which regards the liberalization of
the gas sector;
• Decrees of 24 April 2001 of the Minister of Industry, which define the quantitative
targets for energy efficiency in the electricity (Article 9, Legislative Decree n. 79/99) and
gas sector (Legislative Decree n. 164/2000);
• Law 120/02: ratification of the Kyoto Protocol and definition of the National Allocation
Plan and of the measures to fulfill the requirements of CO2-eq reduction;
• CIPE resolution 123/02: revision of the guidelines for national policies and measures for
the reduction of greenhouse gases emissions. Among the others, energy efficiency and
solar thermal energy are promoted by this resolution;
• Legislative decree (DL) 273/04: urgent dispositions for the application of 2003/87/CE
directive, in matter of greenhouse gasses emission’s credits exchange inside the
European Community;
• Energy Efficiency Decrees (DM 20/7/04) : these Ministry Decrees introduced a framework
(also known as energy saving certificates or white certificates mechanism) for promoting

energy efficiency and energy savings in end-users. The Decrees introduce a fixed quota of
energy savings to be achieved by electricity and natural gas distribution grid operators
(DGO), by means of end-users energy efficiency measures, and a market system based on
the trading of energy efficiency certificates in order to fulfill this mandatory issue. ESCOs
and GDOs are entitled to partecipate to this energy efficiency market. Further details of this
mechanism are provided in Annex 1;
• Legislative Decree 192/05, transposition of European Directive 91/2002 (Energy
performance in buildings). The law introduces a mandatory energy labelling for new and
refurbished buildings, together with energy consumption limits and use of renewable energy
in buildings; in particular, the use of solar thermal energy is made compulsory for new
public buildings in the measure of the 50% of the water heating consumption. For private
buildings, construction criteria must comply with solar thermal plants installation
requirements in order to facilitate a possible integration into the building structure;
• Legislative Decree 311/06, which complements and clarifies some assumptions made by
the previous LD 192/05 and introduces new rules to stimulate the use of renewable energy
in the building sector;
• Law 296/06, that defines, among the others, the technical parameters to implement energy
efficiency in the buildings in ottemperance with the Legislative Decree 192/05 and
modifications;
• Legislative Decree 20/2007, which introduces the net-metering option for high efficiency
CHP plants until 200 kWe and and provides a set of comprehensive measures to promote
high-efficiency cogeneration based on a useful heat demand through the White Certificates
system;
• Legislative Decree 115/08, transposition of the European Directive 2006/32/CE related to
end-user energy efficiency and energy services; this law introduces the definition of some
key concepts as "energy performance contracting, ESCOs, third party financing, heat
service contract”; moreover, the law defines monitoring and programming tools to achieve
energy efficiency targets, sets up simplified permitting procedures to facilitate the energy
services approach and remove administrative barriers, incentivates the dissemination of
third-party financing, introduces a framework for energy services and energy efficiency, in
particular in the public sector, defines the procedures for qualification and certification for
ESCOs and for energy consumption measurement and billing. Further details of this
legislative decree are provided in Annex 2;
• Ministry Decree 11-03-2008, which is related to the primary energy consumption for
heating and measurements of the energy performance indices in buildings;
• Law 244/07 (so-called “Legge Finanziaria 2008”) and Law 185/08 (so-called Legge
Finanziaria 2009) these laws introduced some important actions to promote end-user
energy efficiency, and in particular a tax allowance equal to the 55% of the full costs of
energy efficiency measures implemented into existing buildings; among the others, these
measures can be based on solar thermal panels and/or biomass boilers and /or other high
efficiency heating or hot water production systems. In particular, the eligible measures for
building heating should be able to reduce the yearly primary energy consumption by at least
20%; the demand sector where these measures can be implemented are both the industrial,
domestic, public and residential, including swimming pools, sporting facilities, nursing
homes and hospitals, schools and universities. In (Agenzia Entrate, 2009) the detail of all
the tax allowances available for energy efficiency measures and revewable energy projects
is reported;

• Presidential Legislative Decree 59/09, which defines technical specification about
materials transmittance, including energy saving calculations, measurement and
monitoring procedures, in agrement with LD 192/05, that have to accomplish with
standards (UNI/TS 11300).
In addition, some municipalities have introduced the so-called “Solar Ordinances”, i.e. local
building regulations which impose solar thermal domestic hot water as mandatory in all new
private buildings.
For public procurement, the legal framework is essentially given by the Legislative Decree
157/95 and its subsequent modifications, including Legislative Decree 65/00, transposition of
EC/92/50 on public procurement, which regulates the tendering for service contracts. The most
important provision related to ESCOs contacting is the limitation imposed on the incidence of
the capital investment over the total contract value, which must be inferior to 50%.
Concerning the private sector, the heat service contract is an important issue, introduced with the
DPR 412/93 (and subsequent modifications and integration). The ministerial memorandum
273/98 of Finance Ministry and the 103/E/98 resolution defined: i) the heat service contract
technical and legal requirements; ii) the VAT rate reduction to the 10% (instead of 20%) for the
heat for domestic uses sold through the “heat service” contract. This last VAT rate reducion was
recently limited also to the heat service provided by district heating and/or renewable energy.
A more exhaustive detail of the Italian legislative framework is proposed in the ENEA web site
(Enea, 2009), where the procedures to obtain the 55% tax allowances for energy saving measures
are also described. In Annex 3 and 4, the details of the tax allowance procedure for the case of
biomass boilers and solar thermal plants are reported.
The review of the Italian legislative framework shows that there are several definitions of
ESCos, and the ESCO’s certification is perceived as a necessity. In particular, the definition of
ESCo eligible to trade the white certificates in the Italian energy efficiency market system
includes all the companies that declare in their costitutive act to be focused on energy services in
a broad sense. For this reason, most of these operators are not really acting as ESCos.
Up to November ’05 the Authority list counted about 400 ESCOs. Recently a new standard (the
audit and certification of obtained energy savings) has been added that reduced the number to
“only” 56 ESCOs (June ’06). But the definition remains quite wide and vague; at the moment
just few ESCOs can supply (for example) Energy Performance Contracts, Third Party Financing
and integrated energy services. In such situation there is the necessity to characterize sure criteria
in order to define what an ESCO is and what are the minimum services required, in order to
create confidence among the customers and the financial institutions.
A first attempt to introduce a clear legal background for TPF and ESCos is represented by the
Legislative Decree n° 115/08, which specifies the characteristics and rules of energy services
and ESCos approaches.
The section V, art 16 of this Decree introduces a voluntary certification procedures for ESCos,
and energy managers, to be defined by a specific standard from UNI-CTI (Italian termotechnical
Commitee, in charge of this standardization issue). Moreover, in order to achieve higher
reliability of energy efficiency measurements, further Industry Ministry Decrees should define
the procedures to certify the energy management systems and the energy audits themselves.
As regards technical standards for ESCos, CEN and CENELEC created a first technical
commettee in 2002, CEN/CLC BT/JWG Energy management (now dissolved), in charge of the

definition of the priorities in the energy management standards. This commettee produced a final
report in April 2005. Successively, two CEN/CENELEC task forces and one sector forum were
established, in order to further the previous works and develop new stardard frameworks. At
national level, in 2006 the Energy management Group (GGE UNI-CEI), coordinated by the CTI
was established. The task forces in operation are described in the following.
- CEN/CLC TF 189 “Energy Management - General requirements and qualification
procedures” coordinated by CTI. This Task Force is composed by 4 project teams (PT). The PT
Energy Efficiency Services coordinated by Italy with the partecipation of France, Germany,
Great Britain, Sweden, Norway. This PT is in charge of the standard CSF23002 - Energy
Efficiency Services - Definitions and essential requirements, aimed at the establishment of
guidelines for certification schemes, energy service providers qualification and, in turn, develop
the market for high quality energy services. The PT Energy management systems is coordinated
by the Swedish standards office (SIS) and it is developing the standard EN 16001 - Energy
management systems - Requirements with guidance for use. The PT Energy managers,
established in 2008, is in charge of the definition of the qualification standards for energy
managers. So far, this PT is focused on the assessment of the existing standards. The fourth PT is
called Benchmarking methodologies, and it is coordinated by the Deutch standards office (NEN),
being in charge of the general benchmarking methodologies to achieve a more effective energy
management.
- CEN/CLC TF 190 “Energy efficiency and saving calculation” coordinated by (NEN). Also in
this case there are several PT, such as the Expert Group "Bottom-up calculations" and "Topdown
calculations" focused on the general methodologies to compute the national energy savings
as required by art 15 of Directive 2006/32/CE.
In addition, the CEN/CENELEC Sector Forum “Energy Management” (SFEM), coordinated
by the French standards office (AFNOR) has been established. SFEM represents the link among
the European standards offices, the European Commission, stakeholders, energy management
operators.
Recently, the Italian ISO launched another working group, the ISO PC 242 "Energy
Management", coordinated by the US and Brazilian standards offices (ANSI and ABNT), in
charge of the definition of a standard for energy management systems like the CEN/CENELEC
TF 189 (EN 16001).
At national level, the CTI, together with CEI (Italian termothecnical commettee) is coordinating
the Italian Energy Management Group, which is in charge, among the others, of the definition of
standards for ESCos certification, including aspects such as the skills, competencies and specific
acrivities of ESCos. In fact,
Despite of this, we can observe that the Italian legislative framework, even if characterized by an
innovative market mechanism to support energy efficiency and energy savings (the tradable
white certificates system), presents several crucial issues to be solved, namely the poor reliability
of policy measures, the high delays in putting into practice the general energy policy strategies
and support measures by specific laws, the high complexity of permitting issues and
administrative procedures (which are not simplified by specific legislation as expected), the
absence of clear definitions for ESC0s and energy services and the lack of effective support
systems for renewable heat, cogeneration and district heating.
As regards in particular the solar thermal sector, the most relevant barrier in Italy is the absence
of long term financial incentive programmes, national or regional, opened to the solar thermal
ESCO market. The incentives have been so far limited and discontinuous: no long-term financial

incentives for solar thermal technologies are present, and there is a lack of national coordination.
Some regional subsidies exist but they are mostly intended for the final user and the national
incentive programme is opened to gas distributing ESCO only.
This kind of incentives was so far not sufficient to assure a stable market growth and there has
not been a real industry development.
Moreover, in the field of public procurement, administrations face the problem of establishing
suitable selection criteria in the tendering for heat service contracts. As regards renewable
energy, the absence of a clear regulation about the “renewable” heat service contract in this field,
together with a general lack of knowledge or misperception of the renewable thermal technology,
have discouraged so far public administrations in undertaking investments in renewable heat.
Recent updates: the Legislative Decree 28/2011
The targets of energy efficiency and renewable energy penetration in Italy stated by the National
Action Plan in June 2010 are particularly ambitious, with a target percentage of renewable
energy of 17% by 2020 on the total national energy consumption. In this context, the role of
biomass is particularly relevant, since the total biomass energy should increase from 1.8 MTOE
to 5.6 MTOE by 2020, with a major contribution of biomass heating.
In order to facilitate the penetration of renewable energy, the Legislative decree 28/2001, the socalled
Romani Decree, introduced important innovations in the framework of renewable energy
subsidies and energy efficiency measures.
In particular, this Decree reforms the incentives for renewable electricity, introducing a feed-in
tariff for power plants up to a defined scale and a bid incentivation system for larger plants. This
mechanism should substitute the green certificate scheme after 2012. Apart from this, several
measures to facilitate the penetration of renewable heating are introduced, such as:
• Art 11: Mandatory use of renewables in new buildings and main refurbishment;
Semplified authorizative procedures for renewable heating in buildings
• Art 28: Feed in tariff for small scale renewable thermal energy, and in particular for solar
thermal and biomass heating, also including small scale energy efficiency measures; this
subsidy measure could highly push up the market of renewable thermal energy ESCOs in
Italy, even if it still has to be put into practice;
• Art 29: Revision of white certificates mechanism, with an extended timeline for specific
energy efficiency measures that present a lifetime higher than the 5 years of the current
legislation, and in particular the energy savings achieved by cogeneration investments
are entitled of white certificates for 8 years, as stated by a Decree of Ministry of Industry
in august 2011
• Art 21: Incentives for bio-methane fed into gas network, that could be used for heating or
cogeneration near to the energy demand, while producing the bio-fuel at the premises of
biomass resources; this measure could also incentivize new ESCO schemes and
investments in biomass heating and integration into existing energy systems, such as
combined use of bio-methane and natural gas into domestic boilers of centralized CHP
systems;
• Art 22: Special fund for new district heating networks, and simplifications in permitting
issues
• Art 32: Special fund for technological and industrial development including rational use
of energy and energy efficiency measures coupled to major refurbishments

In particular, subsidy measures for small scale renewable energy plants, in the form of feed in
tariff introduced by art 28 of Decree 28/2011, are charged on natural gas bill and are defined by
specific contracts between GSE (gestore sistema elettrico) and plant owner, based on renewable
heat or saved energy. As already explained, a further decree of Ministry of Economic
Development within 6 months was expected to put into practice the subsidy measure, but it is
still missing. In order to be eligible for the incentive, a minimum technical performances is
required (as described in the annex 2 of Dlg 28/2011). The rationale behind these measures is to
guarantee a fair remuneration of investment and operational costs of the renewable projects, by
means of an incentive duration of 10 years, at constant amount over the timeline. It is expected
that the incentives will be differentiated according to scale and technology, however the delays
in the introduction of such scheme do not allow a proper development of the market and
investments from the operators.
Summary of ESCO developments in Italy
In Italy there are about 100-150 ESCO, even if no registry for detailed data is available, and 90%
of ESCOs are small enterprises (often manufacturers of energy efficiency technologies or
renewable energy devices). 9 ESCOs dominate the market, that are linked to the facility
management sector, as further discussed in the chapter. There are also 3 main associations
(AGESI, ASSOESCO and FEDERESCO) where some data about state of ESCO in Italy were
collected. The most relevant field of operations of ESCO are industry, residential and tertiary
buildings, street lighting, co-generation, renewable energy generation. In particular, biomass
ESCOs are diffused in Northern Italy (district heating), and most of the exemplar esco operations
proposed for Italy are referred to these applications. On the contrary, Solar thermal Escos are still
at infancy.
Summary of barriers and comments on recent trends
Technical barriers in Italy
Among the others, the main technical barriers for the development of small-medium scale
renewable heating operations in Italy, performed by ESCO approaches, are:
• Heating measurement
• Technologies reliability, mostly for CHP plants, while solar thermal and biomass
combustion are reliable technologies
• Air emission levels, in the case of biomass, and ashes discharge, that can be a major issue
in small and residential applications
• Know-how about installation and plants dimensioning (in particular in the case of
biomass-solar integration, where there is lack of specific know-how)
• Storage-logistics and biomass supply and handling (mainly in urban areas and where
space is a constraint)
Non- technical barriers in Italy
It is clear that the main barrier towards the development of ESCO schemes is given by
supporting measures unreliability, which is confirmed by the delay in the introduction of the
feed-in tariff for renewable heating stated by Decree 28/2011. Moreover, difficult public

procurement rules in case of projects involving the public sector are another major constraint, as
also confirmed by the case study proposed in the Province of Benevento (Airola), related to solar
thermal heating for a block of public buildings. Moreover, authorizations are other major
barriers, and the recently introduced Decrees also aim to simplify these procedures in order to
overcome these barriers. Finally, financing issues are highly relevant, in particular in case of
small ESCO and start-up companies with limited credit scores. Specific financial products
should be also available for biomass plants, that present annual biofuel supply costs and where
the biomass supply and related price should be secured with proper contracts, in particular if the
ESCO is not also he biomass producer.
Biomass specific barriers
Some of the biomass-specific barriers regard the biomass markets reliability and quality
standards, the social acceptability and permitting issues, the VAT systems in operation in Italy.
In particular, according to the Resolution n° 124/E of tax Agency 6° may 2009, VAT on wood
chips is set at 20% instead of 10% applied in EU’s countries, and this different VAT system
hinders the EU trade and limits the fair competition. Moreover, credit access represents the key
factor to develop heat biomass sector. In addition, specific financial products for biomass plants
are not available on the market, and companies are obliged to take out short loan (5-10 years)
even if the plant allowance period is 15-20 years
Another relevant aspect is the competing use of biomass for electricity, since the incentive for
electricity generation from biomass is very high in comparison to heat generation. The Italian
incentives for biomass electricity are feed in tariff for plants up to 1 MWe of 280 Eur/MWh or
quota system (green certificates) with coefficient 1.8 for plants above 1 MWe (to be substituted
with bid system in 2013). This higher incentive for electricity is not justified by increased
environmental and energetic benefits in comparison to thermal energy production, since the only
electricity generation from solid biomass is not a sustainable route in comparison to only heat or
CHP. It is expected that new incentives for electricity from biomass will introduce mandatory
energy efficiency levels to be achieved in order to be eligible for the support. This factor could
increase the interest in renewable biomass heating coupled to CHP with ESCO approaches.
Solar specific incentives
The specific barriers towards the solar thermal heating are the small size of projects and high
transaction costs, the recent high development of PV plants in Italy (that achieved by end 2011 a
generation higher than 10 GWh with and installed power above 10 GWp). In fact, the very
profitable feed-in tariff for PV plants does not allow a development of the solar thermal sector.
Another crucial issue is the need to secure the energy demand, since the solar thermal investment
is repaid by the energy sold to the customer, and the operation costs are very limited, which is
not the case for biomass plants, where the fuel must be purchased to produce energy.
Finally, landscape constraints can be also a barrier, in particular when the solar thermal plants
are integrated into buildings. Solar thermal cooling is also a very promising technology, in
particular in southern Europe climate conditions, but it is still at infancy.

ESCos and Bio-sol-ESCo markets in Italy
The italian ESCo’s market is characterized by a large number of companies which present
various and different business models.
The first ESPCo started to operate in Italy in the early 80’s by providing “heat service” to public
buildings and being also in charge of the boilers and infrastructures manteinance. Some TPF was
conducted, mostly in the service sector. During this period, several CHP plants were installed in
hospitals. In 1984, the association of heat supply companies (ASSOCALOR) was established. In
the middle of 90’s, ASSOCALOR changed its name to AGESI (the Italian energy service
industry association).
The results of the IEE funded research project ST-ESCOs (www.stescos.org) concluded that
most of the ESCOs are SME, and about 70% has less then 15 employees, and the average
turnover is below 2.500.000 €/ year for 80% of the recorded ESCOs.
Their customers are mainly Public Administrations (21%), Small and Medium enterprises (21%)
and Industry (19%). Still at a low level, but with the higher growth rate, is civil sector (both
tertiary and residential).
Less than 50% of the Italian ESCOs implemented projects dealing with renewable energy and
about 10% developed some solar thermal installations (mostly little plants, less than 15 m 2 ).
Most of the ESCO applications are related to electricity, both end-use efficiency and generation
(see also IEA DSM). In fact the most profitable area of ESCOs business regards electric
components (in particular repowering of electric engines and lighting, in the public and private
sectors). Regarding heat energy services, the main share of the market are large users (mostly
public administration and hospitals), where the refurbishment of thermal plants and the
installation of co-generators are the most implemented actions (due to high cost-efficiency).
Nowadays ESCo’s activities are implemented by means of various approaches. In particular
there are some large ESPCos that own a major white certificates market share, or some private
companies, with small number of project developed, that operate like a MESCo. These
companies implement only energy efficiency actions (no heat service), and are mainly located in
the North of Italy. Among these, there are also some public-private joint ventures, that
sometimes operate like a CRESCo.
The main Italian ESCos involved in the heat service for large consumers (hospitals, public
sector, aggregate of residential consumers and also industrial thermal energy consumers) are
Cofathec, Siram (Delkia Group), Fenice, Manutencoop, ABB, CPL Concordia. These companies
often offer a global energy service, including cogeneration of heat and power. They are
characterized by an high know-how in the energy field, high credit rate in order to be financed by
banks, and economies of scale because of the development of several similar projects for
different customers. Recently also Property Managment, Real Estate and Global Service
Companies (for istance, Pirelli RE and Romeo gestione) are approaching the energy service
sector, enforced by their strong financial capacities, customer portfolios and management skills.
The services they offer are: energy managment (heat, cool, lighting services), but also facility
managment (cleaning, reception, security, representative services) and property managment
(rent, mainance and building managment).
Other operators are energy utilities and electricity distributors, in most cases with a strong
presence on the territory, such as Hera Group (Emilia Romagna Region), Acea (Rome), Ageas
(Campania Region), SEA (Valle d’Aosta Region), A2A and ASM Brescia (Lombardia Region).
These operators are, in some cases, owners of urban district heating systems for residential

customers, but in some cases they also manage ESCos operations in the premises of industrial
firms, near to a large heat and power demand.
The main activities of these companies are based upon cogenerative and district heating projects,
and they can develop from 1 up to 3 project per year with a medium rate of investment of 0.1 up
to 2 mln euro and a medium installed power of 0.5 – 2 MW.
Another category of ESCos is represented by manufacturers of boilers (Riello), solar thermal
plants (Costruzioni Solari), and other devices, that are registered as ESCos in order to trade the
WhC produced by the installation of their products. These companies commonly do not properly
operate as ESCos as from the definition of the EC Directive.
Moreover, there are several other SME acting like ESCos in the Italian market, that are able to
propose a wide range of energy services and energy efficiency investments.
These companies have a 1-10 milion euro year turnover, and in most cases are out of biggest
public procurement. The main barriers are, in this case, (1) the limited access to equity, (2)
limited know-how and skilled uman resources, (3) difficulty to apply a complete custom
satysfaction system, (4) difficulty to achieve economies of scale.
Emerging ESCos are also some engineering companies, usually SME, focused on enegy audits
and on the development of energy saving measures. They follow the project from the audit stage
towards engineering and building, using subcontract to fill out the work.
An overview of the ESCos registered in the AEEG web site and entitled for WhC trading is
reported in the AEEWG web site (http://www.autorita.energia.it/cgibin/elenco_rep_public?OPERAZIONE=6&HEADER=1).
As regards, finally, the specific biomass heating service, most of the ESCos operating in this
sector are located in North Italy, and a comprehensive overview of most of the biomass district
heating plants is provided by FIPER (Federazione Italiana Produttori Energia Rinnovabile), an
association of district heating plant operators with some 550 MWt of district heating plants and
250 MWt of biomass boilers installed by 2008, 82 boilers, 735 km of district heating pipeline,
108.000 customers, thermal and electric power generation respectively of 585 and 48,75
GW/year.

Subsidies available
The main incentives regarding BioSolESCos are summarized in Table 1.
Subsidies available Solar
Thermal
Solar
Cooling
Biomass Biomass/solar
district heating
Capital cost subsidies (i) X X X X
White certificates (ii) X X X X
55% tax discount (iii) X X X X (iv)
Tax Credit (v) X
V.A.T. reduced to
10%(vi)
X X X X
Table 13.1. Incentives available for solar thermal and biomass heating systems.
(i) available time to time on the basis of national, regional or community level funds;
(ii) in the case of solar thermal a stardard procedure is available, while in the case of biomass
district heating or CHP an analytical procedure should be followed;
(iii) 55% Tax Discount is end-user subsidy that doesn’t compete to ESCos;
(iv) only available for heat exchangers and other end-user infrastructures;
(v) a heating plant fueled by biomass or geothermal source may receive a tax credit in
recognition of the avoided emissions of carbon dioxide. The facility granted to the district
heating networks consist of a fixed fee (L. 448/98, L. 418/01). The incentive is assigned to the
heat produced by biomass fuel, and it consists of a fixed amount of € 2.5 cents / kWht;
(vi) District heating energy supply and other renewable energy sources can advantage of VAT
rate of 10% (L. 296/06, DPR633/72); in the caase of heat generation, the reduced VAT rate is
recognized to generating plants fueled by renewable sources or to cogeneration plants (as defined
by the Authority Del. 42/02). In this case, an "energy performance service" contract is required,
that meets the requirements established by the Department of Revenue of the Ministry of Finance
(Circ. 273/98). In the case of a district heating supply, most of these requirements are implicitly
satisfied.
Among the others, specific incentives for renewable heating in the form of capital cost subsidies
are offered by the POI Energia (Programma Operativo Interregionale, www.poienergia.it) and
Kyoto fund (www.cassaddpp.it ), aiming to increase the competitiveness of sustainable
renewable heating.
14.1.2 Existing contracts
The typologies of ESCos contracts applied in the Italian market are basically the EPC (Energy
Performance Contracting), which is characterized by shared or guaranteed savings, and the
ESC (Energy Service Contracting), where the payment is commonly based on the amount of
energy consumed. These typologies are reported in Figure 1.
The Energy Service contracts payment scheme can be based on days – celsius degree, fixed fee,
time fee, or heated space (m 3 or m 2 ).
The ESC has been used in Italy since 80’s, mainly in the case of hospitals, public buildings,
residential district heating and so on. This kind of contract is still widely implemented, as also
results from the case studies reported. Mixed ESC/EPC contracts are also possible, on the basis

of the presence of some performance parameters and/or on the capacity of the ESCo to take some
financial risks. It is the case, for instance, of the Bari main Hospital (Policlinico of Bari) case
study, where Siram installed a 2 MWe natural gas fired CHP district heating plant, in order to
serve the heat/cool and electricity demand of the hospital. In this case, an ESC (billing based on
heated m 3 ) is coupled to an EPC (CHP plant built by the ESCo with investment cost repayment
based on the sale of electricity). Nowadays, ESC Energy Service contracts are becoming more
complex, including further services such as insurance to unexpected events (mainly required to
increase the bankability of the project, so decreasing the deby/equity ratio or the cost of capital).
Figure 13.1 ESCos Energy contracts in the Italian market.
Although Energy Supply Contracts are widely used by ESPCos, the EPC is being applied more
and more, expecially after the Legislative Decree 115/2008.
Under an EPC arrangement, an ESCo develops, implements and finances (or arranges financing
of) an energy efficiency project or a renewable energy project, and uses the stream of income
from the cost savings, or the renewable energy produced, to repay the costs of the project,
including the costs of the investment. Essentially the ESCO will not recover all of its costs unless
the project delivers all of the energy savings guaranteed.
The EPC can be classified as Shared Savings, Guarantee Savings, First Out or Pico (Public
Internal Contracting) and Project Financing, which are mainly used in public procurement.
Under a guaranteed savings contract the ESCO guarantees a certain level of energy savings and
in this way shields the client from any performance risk. The performance related to level of
energy saved, and the value of energy saved is guaranteed to meet debt service obligations down
to a floor price. In this case, the ESCO carries performance risk and the energy-user/customer
carries credit risk. Moreover, ESCO can do more projects without getting highly leveraged, and
there is a more comprehensive project scope due to lower financing costs.
In the case of Shared Savings, the cost savings are split for a pre-determined length of time in
accordance with a pre-arranged percentage. In this case the prerformance is related to the cost of
energy saved and the value of payments to ESCO is linked to the energy price. This contract

favours large ESCOs, while small ESCOs become too leveraged to do more projects, and it
favours projects with short payback due to higher financing costs.
Another very frequent type of contract in Italy is the ‘chauffage’ contract, where an ESCO takes
over complete responsibility for the provision to the client of an agreed set of energy services
(e.g. space heat, lighting, motive power, etc.). This arrangement is a type of supply contracting
and represents a form of energy management outsourcing. Sometimes the ESCO in a chauffage
arrangement also takes over full responsibility for fuel/electricity purchasing. The fee paid by the
client is calculated on the basis of its existing energy bill minus a percentage saving (in the range
of 5-10 %). Sometimes a fee may be charged per square meter of conditioned space. Thus the
client is guaranteed an immediate saving relative to its current bill. The ESCO takes
responsibility for providing the improved level of energy service for a reduced bill. The more
efficiently and cheaply it can do this, the greater its earnings: chauffage contracts give the
strongest incentive to ESCOs to provide services in an efficient way. This is the case, for
instance, of the case study of the heat service contracts of University of Bari.
Such contracts may have an element of shared savings in addition to the guaranteed savings
element to provide incentive for the customer. For instance, all savings up to an agreed figure
would go to the ESCO to repay project costs and return on capital; above this savings will be
shared between the ESCO and the customer.
Another variation is the ‘first out’ approach whereby the ESCO is paid 100 % of the energy
savings until the project costs, including the ESCO profit, are fully paid. The exact duration of
the contract will actually depend on the level of savings achieved: the greater the savings, the
shorter the contract.
A BOOT (Build-own-operate-transfer) model may involve an ESCO designing, building,
financing, owning and operating the equipment for a defined period of time and then transferring
this ownership across to the client. This model resembles a special purpose enterprise created for
a particular project. Clients enter into long term supply contracts with the BOOT operator and
the service charge includes capital and operating cost recovery and project profit. BOOT
schemes are becoming an increasingly popular means of financing CHP projects. This is the case
of some Italian ESCO that propose distributed CHP generation systems (in most cases natural
gas or liquid biomass fired) installed at the premises of industrial firms, to serve their
heat/cool/electricity demand. The ESCO investment is often repaid under “BOOT” contracts,
and the plant ownership is transferred to the energy consumer when the investment costs are paid
(commonly after 4-6 years).
The Project Financing is most used for complex projects, such as the construction of large power
plants. The PF is a quite complex and expensive form of financing, based on accurate technical
and economic assessment (due diligence) of the project itself rather than the financial capacity of
the promoters. The loan must be fully guaranteed by the project cash flows, and this requires the
management of a complex set of contracts in order to minimize risks. The magnitude of
minimum investment is therefore high, usually in millions of euros.
The advantages of this form of contracting, used in the field of public utility for the development
of water resources, natural gas concessions, cogeneration plants, district heating, are:
• Efficiency: all the actors involved in PF have an interest to focus on the efficiency of the
work, since the cash flows finance the investment;
• PF allows financing great projects with low expenses, which is particularly relevant for
public administration.

The energy supply contract defines all the important issues between the ESCO (the energy
supplier) and the customer (the energy consumer). An energy supply contract is always an
integral part of an ESCO project. It fixes several important topics that are related to the risk
accepted by the ESCO in acquiring the project.
The main topics to be covered by the energy supply contract are: i) the subject of the contract
(heat/power supply and related quality of service provided); ii) the duration of the contract; iii)
property of the plant and manteinance/operations responsabilites; iv) billing systems and energy
measurements; v) property structure of the areas affected by the installations; vi) obligations to
deliver/supply the energy, imncluding min/max values; vii) insurance schemes.
There are three different schemes for billing the thermal energy between the customer and the
ESCO. Most schemes which are implemented in real projects follow one of these schemes or a
mix of these:
Energy price only: the customer pays a certain energy price per kWh of thermal energy. The
energy is usually billed once every month or once every two months. This means that the
payback for the ESCO works only by means of the energy sold.
Usually, for residential demand and district heating systems the ESCO and the customer agree
for a different summer and winter price (summer price lower, as the demand is lower).
Energy price and basic price: Additionally to the cost per kWh, the customer is also charged a
fixed fee, which takes into account also manteinance costs. This model allows more security for
the ESCO as it will get the payments in any case.
Energy price and connection fee: In this case the customer pays a percentage of the installation
cost (both for the thermal generation plant and/or for the distric heating or the connection to the
heat pipeline). This fee may be calculated on the basis of the kWh delivered per year or on the
installed power. In return, the energy price for the customer is reduced, so the ESCO needs to
perform a very thorough economic feasibility calculation.
The delivered energy price is usually linked to the consumer price index (general index which
reflects the course of the inflation or the fossil fuel price).
14.1.3 Financial institutions and schemes
Suitable financial instruments could help to overcome barriers, namely the limited and
sometimes difficult access to financing opportunities for ESCOs. This is particularly relevant in
the case of new ESCOs, with limited credit rate.
In the case of solar thermal plants and small biomass fired installations, due to the size of the
projects, financing is mainly a business for local banks. Financial instruments can support
renewable ESCOs in several manners, such as: i) establishing suitable funds or making access to
existing funds easier in order to establish financing opportunities for ESCOs; ii) reducing the
risks for banks providing financing through public liabilities; iii) subsidy funds that are available
for renewable heat services.
Several financing sources are possible: private banks and lending institutions, venture capital
firms, equity funds, strategic partnerships (e.g. utilities, engineering firms and equipment
manufacturers).
The dedicated financial services offered by banks to the ESCOs in Italy are growing fast,
because of the strong interest in renewable energy investments, energy efficiency programs and
sustainable development by banks, increased by the presence of quite encouraging incentives.
Quite often financial institutions propose financial schemes designed specifically for energy
service companies. It should be noted that the banks offer financial schemes very different from
each other, and sometimes different offices of the same bank propose different financial solution.

Hovewer, these services are absolutely not effective in removing the financial barriers towards
the establishment of ESCos business, in particular in the case of low investment projects, as they
are considered too much riskky or not enough profitable. In fact, even where there are proposals
for funding apparently well established, in practice the access to credit is quite difficult.
In most cases, the real guarantees or the equity required by the banks to the ESCos are not
compatible with their limited financial resources.
Some of the most important financial services offered to ESCOs by Italian banks are reported in
the following.
Intesa-San Paolo: this financial service (in cooperation with EIB Funds, European Investment
Bank) is focused on material investment (buildings, machinery and equipments). The eligible
operators are SMI and /or Companies operating in the area of energy / environment and
infrastructures, including investments aimed at diversifying energy sources and / or improving
use of energy or environmental protection and /or using renewable sources.
The max loan amounts to to 50% of expenses (VAT excluded), with a maximum of 12.5 million,
with a minimum equity of 25% of the cost of the program. The nominal rate can be fixed or
variable, with a duration of 5, 8 or 10 years. Personal or real guarantees are always required.
LeasEnergy: this type of leasing proposed by Intesa Leasing is committed to renewable and
cogeneration energy plants. It allows flexibility as regards frequency of payments, and it also
ensures fast and simple operations to shorten the implementation time of the project.
Leasing Energia: this scheme supports investments of industrial agro-industral, services and
tourism inverstors which intend to establish facilities for the production / sales of energy from
renewable sources.
Moreover, there is a general agreement between Cooperative Credit Banks / Rural Casses and
the Government aimed to promote renewable energy sources. It provides access to credit for
energy efficiency actions and renewable sources plants. The financial service may vary
depending on the bank, with a maximum loan of 200.000 €, max duration of 10 years, nominal
annual rate equal to the Euribor plus a 1% spread.
The financial service proposed by Banca Etica Energy Projects is tailored for private operators
and enterprises which want to develop an energy efficiency action or build a renewable energy
source plant. It is also dedicated to ESCos, infact we can read in a note of the “Banca Etica”
proposal that “it should reward ESCos’ activities for their innovative character, in order to break
financial barriers and promote energy efficiency and sustainable development”. In this case, the
max loan: ranges between 10.000 and 200.000 €.

Figure 13.2 Financing services available from Banca Etica (www.bancaetica.it).
“Energy Save” is the financial service of “Monte dei Paschi di Siena” dedicated to energy
efficiency and renewable energy plants, and in particular to ESCos activities. The max loan is up
to 100% of the investment, subject to a due diligence approved by bank. Among the other
guarantees, a suitable insurance scheme is always required, together with real guarantees from
the investor and often a direct repayment of the loan by the project cash flows (this is required
ihn most of the financial services described).
“Progetto Spazio Energia” is a specific financial service of Banca Pololare di Ancona dedicated
to public and private operators who defined an industrial corporate program to execute energy
savings or renewable projects. The projects funded are cogeneration and trigeneration plants,
renewable source plants, pellet production plants, heat/power distribution grids. The minimum
investment is 25.000 €, with loans up to 100% of investment.
In conclusion, it appears clear that the lack of interest from financial institutions should be
overcome. So far, ESCOs have mostly implemented projects using their financial bases, but this
limits the size of the ESCO market strongly. Banks should be informed, and encouraged to
participate in third-partyfinancing.
14.1.4 Barriers
The assessment of the Italian Bio-Sol ESCos state of the art allowed identifying some existing
barriers, as reported in the following.
Policy and administrative issues
• Complex administrative issues are by far one of the main barriers towards the
development of ESCos approaches.
• In public sector, there is a very promising energy demand for ESCO’s services and
low energy efficiency, but a public call is often required and the complex
administrative procedures are one of the main barriers; in particular, a preliminar
assessment and techno-economic feasibility study is always required to prepare the

public call for energy services, but the public sector has a poor know-how to carry out
this study and in most cases no funds are available to outsource this to ESCOs, and
what commonly happens is that an ESCo has to spend time and money to carry out
the preliminar feasibility study taking the risk to loose the successive public
competition to put into practice the feasibility study and carry out the project.
• A major drawback to ESCOs in the public sector is that public sector regulations are
not suitable for EPC. Tender procurements are traditionally price-based (based on
initial investment cost) and energy performance (lifecycle costs) does not form the
primary decision basis, which would be important for an ESCO project. Chauffagetype
contracts are preferred. In this case, however, no energy saving guarantee per se
is given and the savings are not monitored, although savings are normally realized.
• Subsidies are an important and structural measure to make the diffusion of good
practices and the growth of the renewable heatsector easier. One of the main barriers
for the Bio-Sol-ESCos development has been the lack of support measures towards
renewable heat in Italy. It’s very important that the measures are active for a
medium/long period (in order to attract investors along years and not only for short
and limited periods) and insert in wider programmes; simple criteria to calculate the
subsidy should be preferred, in order to assure a wider participation to the scheme by
the final users and also a faster (and therefore cheaper) assessment of the requests;
�coordination at national level is also necessary: even if the development of the single
measure can be carried out by local administrations, the criteria to achieve the fund,
the bureaucratic procedures and the targets should be decided at national level.
• The missing of a legal consolidation of ESCos is another issue 8partially solved by
the Law 115/2008).
Financial issues
• The bankability of the ERSCos operations is a main issue, since the credit system
appears generally stagnant and with poor interest in the ESCOs business. In fact, it is
perceived as too much risky of scarcely profitable, in particular in the case of low
investments and small ESCos; quite often very high guarantees and/or high equity are
required to ESCos to have access to credit, and securing the loans repayment is always
required; moreover, banks often require complex and expensive procedures (“due
diligence”) to provide the loans to ESCos.
Contract issues
• It is difficult to measure the energy savings which are caused by the energy efficiency
measures implemented and those ones which are caused by energy consumer changes
(behaviour, load increase or decrease, etc) and that should be not considered when
calculating the ESCO revenues; the set up of suitable algorithms could be particularly
complex.
• The space required by the solar thermal collectors could be a barrier, in particuilar
when they are installed in urban areas, where the space has a value; moreover, in
most cases an auxiliary boiler is required to meet the load demand during winter, so
that the Esco should also face the operational issues of thermal plant management,
fuel supply and so on.

• In some cases the final energy consumers could be sceptic about the reliability and
quality of energy services provided by the ESCO, and proper guarantees of good
operation should be provided by the ESCo to the final consumer.
Other barriers
• The low heat demand in Southern Italy causes a poor interest in the heat service and/
or district heating in these Regions; one option could be the development of cooling
systems, but they are quite expensive and difficult to integrate with solar thermal or
biomass facilities.
• In the domestic and tertiary sector, energy efficiency investments for insulation
systems are very expensive and should be carried out by the buildings owners, and
not by the ESCO.
• Solar thermal plants are commonly suitable for low temperature heat, and this could
be a barrier when high temperature heat is required, such as in the industrial and agroindustrial
sector, even if a solar based pre-heating system could be a good
compromise also in this case.
• Solar thermal heat production is affected by high seasonality, and since the produced
heat can be stored for a limited amount of time, a proper plant sizing and the
knowledge of the laod pattern are major issues; in the case of biomass fired boilers,
this issue is by far less relevant, but in every case it could be appropriate to installa
integrating systems for heat peak loads, on the basis of the specific typology of heat
demand.
• In the case of energy efficiency measures implemented together with the
heating/cooling services, there is a trade off between the interest of the ESCo in
selling the energy and in achieving energy savings; in this case, the contracts and the
ESCO revenue should be composed by a first part based on the energy sold and with
a discount on respect to the baseline (cost of energy of the ex-ante situation) and a
second part based on the energy savings.
• The space required for biomas storage can be a problem in the case of biomass
heating plants, in particular in urban areas, where the space has an higher value; the
emission levels of biomas heating plants in comparison to gas fired boilers could be a
disadvantage (in particular as regards particulate, NOx and CO emission levels); the
biomas supply could be particularly comples, and biomass-Esco schemes can be more
promising when the Esco is vertically integrated, being also in charge of the biomass
production, pre-treatment and storage.
• The high costs of pipelines and installation in case of refurbishment for district
heating is by far one of the main barriers towards the development of the district
heayting service, together with the extremely complex administrative procedures for
the end-users connection to the pipeline.
• In Italy there is a high competition with natural gas, which is widely available and a
gas fired district heating system is cheaper than a solar thermal or biomass fired
district heating system.
• Absence of national high replicability projects for BioSolESCos for small-medium
scale plants, and absence of information about success cases.
14.2 Technical framework
Technical framework related to BioSolEsco’s activities is connected to technical aspects and state
of the art of implemented renewable technologies, (solar thermal and biomass).

These energy souces are suitable for space heating and hot sanitary water, but also summer air
conditioning (cooling). District heating technology is also connected with heat supply services
and it uses a centralized system to achieve economies of scale and higher efficiency.
14.2.1 Quality and monitoring
Quality and monitoring aspects are crucial for Escos, and thus for BioSolESCos, considering that
ESCo’s earnings are based on the achieved energy savings.
In particular, the Legislative Decree 115/2008 defines not only the quantitative parameters to be
monitored, but also the necessary contracts characteristics between ESCo and customer.
In particular, according to the definition of energy performance contract “Plus”, this LD states
that the ESCos have to accomplish with a voluntary certification (at the moment ISO 9001 and a
certification as in the Law 46/90).
This should ensure that the company has the necessary technical and managing know-how. In the
future, an international ESCo certification standard (ISO 16001) should be introduced, as already
discussed.
So far the quality and monitoring issues related to energy performance contract required by the
Legislative Decree 115/2008 (Annex II) are, in particular:
• energy label of the building as defined by LD 192/2005, explicitating the energy
requirements of the building, and the measurements to be taken in order to improve its
energy performance. The energy label calculations must be executed in compliance with
UNI TS 11300, and can be performed using commercial softwares that are certified by
CTI or UNI (national technical unification body) having a maximum error of +/- 5% in
the estimate of the energy requirements;
• the quantitative parameters used to calculate the effectiveness of the energy services
should be clearly explicitated; moreover, the correlation between the measured
parameters and the amount of thermal energy delivered should be explicitated;
• the energy supplied to the final consumer should be reported at least yearly, with single
measurements for each consumer.
Monitoring issues are also defined in order to access to white certificates. As introduced before,
every end-user energy efficiency measure should be reported to and certified by the AEEG in order
to be assigned the related WhCs. In particular, as regards solar thermal projects, a standardized
procedure can be followed, in order to estimate the energy savings arising from the installation of
these panels. This procedures allows estimating the savings simply by means of the m 2 of solar
panels, the typology of radiators, the climate zone of the area of installation, and the substituted
heating source. As regards biomass boilers and biomass CHP, there are a couple of analytical
procedures defned by the AEEG to estimate the energy savings of bio-heat, which are in particular
related to small cogenerative systems and district heating. However it should be noted that the
energy savings assessment is, in this case, more complex and specific measurements are required.
Morevoer, it should be noted that, at the moment, the certification procedures for biomass district
heating and biomass cogeneration are not appliable. Further details can be found at the AEEG web
address:
(http://www.autorita.energia.it/ee/schede.htm,).

14.2.2 Appropriate technology for BioSolESCos
14.2.3 Software tools available
The ST-ESCO software tool was developed for a quick assesment of potential solar thermal ESCOs
applications within the IEE funded project ST-ESCO. It includes the Energetic Module, a
simulation tool based on TRNSYS, with a user friendly interface where the user can introduce all
technical data referred to the solar thermal system and calculate the energy production, and the
Economic Module, that carries out the economic, financial and contractual analysis, based on the
results or energetic yield assessment.
Among the other softwares for renewable sources, and in particular for BioSol ESCo, there are:
• The RETScreen Clean Energy Project Analysis Software, which is a unique decision
support tool developed with the contribution of numerous experts from government,
industry, and academia. The software, provided free-of-charge, can be used worldwide
to evaluate the energy production and savings, costs, emission reductions, financial
viability and risk for various types of Renewable-energy and Energy-efficient
Technologies (RETs). The software (available in multiple languages) also includes
product, project, hydrology and climate databases, a detailed user manual, and a case
study based college/university-level training course, including an engineering etextbook.
• Polysun Solar thermal Simulation, which allows estimating the energy production and
economic feasibility of solar systems; it provides users with flexibility in the design of
solar thermal systems. Polysun enables to figure out yields and energy savings and get
an accurate cost analysis.

15 Luxemburg

16 Malta
During the 1980s and 1990s Malta experienced a growth of energy supply, markets and distribution.
The energy scene has changed rapidly during this last decade with prices for fuel increasing
substantially. Malta’s accession to the EU is leading to developments in the energy market and
establishment of more environmental measures.
Consumption of electrical energy has been increasing steadily. This can be attributed to a number of
factors including growth in economic activity and higher standards of living. Electricity demand has
increased from 1,603 GWh in 1995 to 2,263 GWh in 2005. The production of energy from fossil
fuels is the main source of environmental pollution. In 2007, the electricity sector was the largest
contributor to National Greenhouse Gases (GHG) emissions with a share of 88.7 % of gross
national emissions, followed by the waste sector that contributed 6.6% to overall emissions. These
indicators come from two reports that the Malta Environment and Planning Authority (MEPA)
recently submitted to the European Commission under the EU Decision No. 280/2004/EC. The
reports also indicate that from 1990 to 2007, the GHG emissions in Malta have increased by 49 %
with CO2 being the most significant contributor to this increase. Data indicate that on average, per
capita emissions have risen from around 5.5 tonnes per head in 1990 to 7.3 tonnes per head in 2007.
These trends reflect the socio-economic changes that have taken place over these past two decades,
resulting in an increased demand for energy, with more waste generated and energy consumed for
transport. Despite this national trend, Malta contributes only around 0.1 % to the overall EU-27
GHG emissions.
16.1 Legislative, Financial, contractual and marketing framework
16.1.1 Legal background for TPF and ESCos
In recent years, Malta Government has introduced a number of measures in order to reduce the
emissions of electricity generation. Technical modifications were made in order to increase the
efficiency of the power plants. Coal consumption was reduced gradually and the introduction of low
sulphur heavy fuel oil in 2004 reduced sulphur dioxide emissions.
Efforts are underway to assess both the potential and applicability of renewable energy sources.
Renewable energy has led to a conceptual shift in energy policy in order to obtain at least partial
relief from volatility in prices and scarcity of domestic products. Renewable energy is regarded and
promoted as an investment for the future. To date, Government has been considering the aspects of
affordability and competitiveness for the sector. Government has, directly or through its agencies,
conducted several studies in connection with specific renewable energy technologies both up to and
post-2010.
Large, land-based solar farms are not considered an attractive option mainly because of their
footprint and the impact of their hardware on the local landscape. More cost-effective uses of solar
energy are perceived to lie in water heating and in the medium term in cooling. In the interest of
promoting the mix of PV and solar thermal energy generation, Government has introduced various
measures of support, including capital grants for solar installations (solar thermal water heaters and
PV panels) in private households. Government has also put an exemption from excise duty on the
biomass content in bio-diesel and such measures are expected to be reviewed following an
assessment of the results achieved.

Overall, Government is continuing with the implementation of support schemes to promote the
adoption of a mix of appropriate technologies at all levels, while considering the costs of
implementation and maintenance of these technologies and related financing aspects.
Figure 16.1
Although Malta does not have emission reduction targets under the Kyoto Protocol, it is still bound
to adopt and implement policies and measures that directly or indirectly lead to limitations or
reductions of emissions of greenhouse gases.
To date, the two power generation plants currently in operation in Malta are the only installations
falling within the scope of the Directive 2003/87/EC. In fact, as a non-Annex I party signatory to
the Kyoto Protocol, Malta is eligible to participate in Clean Development Mechanism (CDM)
projects as a host of such projects. The Malta Environment and Planning Authority has been
designated as the Designated National Authority (DNA) in this respect.
To date, the DNA has received one project proposal, for a landfill gas recovery and utilisation
project to be set up at Ta’ Zwejra landfill, by WasteServ Malta. The objective of the project is the
collection and destruction of methane generated at the Ta’ Zwejra landfill where municipal solid
waste is deposited.
The Project Design Document submitted indicates that an annual average emission reduction of
approximately 19 ktonnes of CO2 equivalent is expected. It should be noted that the project has not
yet been registered with the CDM Executive Board and thus no reduction credits have been issued.
All emission savings taking place in Malta are due to domestic action and do not constitute the
“offsetting” of local emissions by emission reduction activities taking place in other countries.
In December 2008, Malta expressed its intention to change its status under the UN Framework
Convention on Climate Change (UNFCCC), apart from technical measures aimed at improving the
efficiency of the electricity generating infrastructure and reducing the GHG emissions emitted per
MWh generated, a number of measures have been put in place, or are planned, in order to reduce
the demand on the national grid and to increase the use of renewable energy sources (RES).
The measures described hereunder include regulatory, technical, economic and voluntary
/information measures:
P&M No. 5 Energy Performance in Buildings Regulations
Implementing Entity National Government (Ministry for Resources and Rural Affairs)
Type of Instrument: Regulatory; Status: Implemented
CCPM Energy performance of buildings (Directive 2002/91/EC)

The objective of the measure is to reduce the wastage of energy and provide adequate
environmental indoor conditions in buildings by the following actions:
• Prescribe limits on U values of external walls, roofs, windows and external doors of all
newly constructed buildings and large buildings that undergo major renovation;
• Prescribe limits on the area of glazing to be used in all newly constructed and large
buildings that undergo major renovation;
• Make better use of solar gain in winter and control solar gain in summer in all newly
constructed buildings and large buildings that undergo major renovation;
• Prescribe requirements for the conservation and reuse of rainwater in all newly constructed
buildings;
• Introduce better controls on artificial lighting in all new buildings and large buildings that
undergo major renovation;
• Introduce minimum requirements for switching controls in the use of water and space
heating appliances;
• Introduce minimum requirements for switching and zoning controls in the use of air
conditioning appliances.
By the powers conferred by article 28 of the Malta Resources Authority Act, the Minister
responsible for Resources and Infrastructure, in October 2006 issued Legal Notice 238 entitled
“Minimum Requirements on the Energy Performance of Buildings, 2006”.
These regulations specified that all new buildings and existing buildings that undergo major
renovation or alteration, and whose building permit application was received by the Malta
Environment and Planning Authority on or after the 2nd January 2007 had to comply with these
regulations. A technical guidance document - Conservation of Fuel, Energy and Natural Resources
(minimum requirements on the energy performance of building regulations, 2006) - was issued as
part of the regulations and is the instrument that gives the parameters and provisions for compliance
to the regulations.
Legal Notice 238 of 2006 was superseded by Legal Notice 261 of 2008 that incorporates the
minimum requirements and implements the Energy Performance Certification of Buildings.
This measure is part of the regulatory requirements imposed by the transposition and
implementation of Directive 2002/91/EC on the Energy Performance of Buildings and will also
complement the national campaign for increased energy efficiency awareness.
It is considered too early to measure the true effects of the implementation of this measure.
Furthermore, the present lack of statistics on the end use of energy in Malta buildings and the lack
of human and financial resources necessary to carry out the detailed reporting needed to obtain this
data make it very difficult to estimate the savings that will be obtained by the introduction of the
above mentioned measures.
Another factor is the link between the building performance and optimum comfort levels; although
many Malta homes are not at present cooled or heated adequately to provide good thermal comfort
throughout the year because of the amount of electricity needed to do so with the current building
stock, this trend may change as the energy performance of buildings improves.
P&M Nos. 9 – 12 Incentive schemes for Energy Efficiency and RES Measures in the Residential
Sector
Implementing Entity National Government (Malta Resources Authority); Type of Instruments
Economic
P&M No.10 Promotion of Solar Water Heaters
Status Implemented

The first grant by Government on solar water heaters was announced in 2005. The rebate of 20% on
the purchase price was capped at a maximum of €116.48 and uptake was rather low. The maximum
rebate was doubled to €232.94 in 2006, with uptake tripling (MRRA, 2008). Up to the end of 2008,
a total of 1665 applications for rebates on solar water heaters had been submitted to the Malta
Resources Authority.
Visits are organised by the Institute for Energy Technology upon application by the home owner. A
technical inspection is made on the installed solar heating system. A pre-defined technical form is
used. Observations made include measuring the azimuth and the inclination of the panels, checking
the water storage tank size and solar panel area, to see if sufficient collector area is available to heat
the water effectively and checking on lagging, insulation, and back-up heating settings. A
questionnaire is also completed to understand the lifestyle of the users and advise on certain
measures that could save on hot water usage.
Following the visit, an official report is sent to the owner, highlighting the good results as well as
those measures that need to be taken, if any, to improve the performance of the solar system, with
the scope of saving more energy and getting better customer satisfaction.
Under the new scheme for 2009, the Government allocated €2 million for the purchase of solar
water heater where applicants are refunded two thirds of the cost up to a maximum of €460. It is
calculated that 4,500 families are going to benefit from the scheme 19 MFEI (2008).
P&M No. 16 Information campaign on Energy Efficiency
Implementing Entity National Government (Office of the Prime Minister)
Type of Instrument: Information; Status: Implemented
CCPM End-use efficiency and energy services (Directive 2006/32/EC)
A national educational campaign is currently in operation to increase the level of the general public
and consumers’ awareness on sustainable energy use. The campaign aims to change consumers’
behaviour towards more sustainable energy use and to educate consumers through dissemination of
information and knowledge on Malta’s dependency on conventional energy generation, measures
that may be implemented to reduce this dependency, including policies, measures and support
mechanisms, and the benefits of sustainable energy use to the environment and society as a whole.
The educational campaign will address the following key issues:
1. Energy efficiency and conservation of electricity;
2. Micro-generation through renewable energy sources and promotion of solar thermal
systems;
3. Energy efficiency in transport;
4. Energy performance in buildings.
16.1.2 Existing contracts
Considering the early situation regarding ESCOs and Third Party Financing, no schemes of energy
performance contracts are used in Malta. Probably ESCOsschemes are not suitable in the Malta
framework and they need to be implemented as part of an integrated system that is not yet ready to
come in force. By now Malta made some efforts to decrease the GHG emissions in energy sector,
including emissions from fuel combustion activities, i.e. Public electricity and heat production,
manufacturing industries and construction, transport and commercial/residential.

16.1.3 Financial institutions and schemes
Since there are no ESCOs in Malta and Energy Market is regulated by Government, financing
energy savngs or solar-biomass power plants are not yet developped as in other Countries.
Nowadays projects are financed by Government with Energy Grant Scheme: End-use efficiency and
energy services (Directive 2006/32/EC).
This incentive scheme aims to assist companies in the implementation of projects related to energy
efficiency (such as the installation of intelligent lighting systems, solar heating, thermal insulation,
building management systems and energy-saving lighting) and electricity generation from
renewable sources such as solar and wind. Approved and selected projects (through competitive
call) will be refunded 50% of their investment cost.
The scheme will be administered by Malta Enterprise, the government agency responsible for the
promotion of foreign investments and industrial development in Malta.
Total funds of €10,000,000 are available under this scheme. The energy grant scheme, which is to
be funded through the European Regional Development Fund (ERDF) (2007 to 2013), was
launched in February 2009.
This scheme is run in parallel with a scheme aimed at assisting companies to have energy audits,
which scheme is funded by the Maltese Government through Malta Enterprise. Energy audits can
identify measures which can then be funded through the energy grant scheme.
Another ERDF scheme which will also be administered by Malta Enterprise, aimed at assisting
companies to implement environmental technologies for projects related to waste, water and air
emissions, and may also result in the indirect reduction of GHG emissions through reduction in
water demand (the production of which is heavily dependent on energy-intensive desalination
process).
The levels of savings that will actually be achieved are highly dependent on the type of solutions
that will be proposed and eventually implemented.
Additional benefits of the scheme include the reduction of air pollutants from the power stations (as
a result of reduced energy demand), increased competitiveness for industry /enterprise as a result of
reduced energy costs, and awareness-raising of the various possibilities for implementing energy
efficiency measures.
16.1.4 Barriers
Malta ratified the United Nations Framework Convention on Climate Change (UNFCCC) as a non-
Annex I party on 17th March 1994, and subsequently ratified the Kyoto Protocol on 11th November
2001.
Due to its non-Annex I party status, Malta does not have any binding obligations to limit or reduce
greenhouse gas emissions under the Kyoto Protocol neither has any limitation or reduction targets
under the ‘burden-sharing agreement’ currently in effect. It should also be noted that in view of its
non-Annex I status, Malta is also not eligible for allocation of Assigned Amount Units under Kyoto
Protocol rules.
This is probably the main reason to explain the lateness of the Country to develop ESCos business
and TPF.
A comparison between Esco in Italy and Malta is reported in Figure 1 ( “Designing an appropriate
ESCOs’ environment in the Mediterranean”, Konstantinos D. Patlitzianas, Haris Doukas and John
Psarras).
The Figure reports the main barriers to ESCos and TPF.

Figure 16.2 Comparison of ESCos in Italy and Malta.
Malta electricity system overview
Malta’s electricity generation is exclusively reliant on non-renewable energy sources (liquid fossil
fuels) and this has been adversely affected by developments in international pricing of petroleum
products. Electrical power is generated in two conventional thermal power stations owned by
Enemalta Corporation and located at Marsa and Delimara. These power plants utilise heavy fuel oil
for conventional steam plant (boiler/turbo generation) and gas-oil for gas turbines. The Marsa
power station houses the older generation plant, whereas the Delimara power station is relatively
more modern, albeit still in need of upgrading, particularly in relation to energy efficiency and
cleaner fuels. Investment is also required in certain critical sections of the distribution system to
prevent distribution failures.
The network is currently state-owned and is subject to regulation by the Malta Resources Authority.
The present electricity distribution system in Malta has evolved from three 33kV distribution
centres to a network of seventeen 33kV and one 132kV distribution centre. These are divided
among 4 regions, namely, North, Sliema, Central and South and the load growth characteristics for
each were analysed to formulate a long-term plan that would ensure a secure and high quality
supply suitable for all the different regions by 2013. The 132kV distribution centre was
commissioned in 1992, in order to deliver electrical energy from the then, newly constructed
Delimara Power Station. A second 132kV distribution centre is currently being commissioned in
the centre of the island. These distribution centres are strategically located close to large load
concentrations and directly supply large industrial and commercial consumers. An analysis of the
current condition of the distribution network shows that during peak demand periods, most
components are operated at close to their rated capacity and have no redundancy.

16.2 Technical framework
16.2.1 Quality and monitoring
No quality and monitoring standard procedures are implemented by private or public actors to
access to any incentives or white certificates scheme, since the only energy savings and efficiency
action are undertaken by Government in accordance to CDM and JI schemes.
16.2.2 Appropriate technology for BioSolESCos
As regarding technological framework, maltian situation about biomass and solar thermal plants is
in a first stage status, and equipments and instruments are mainly imported from other countries
companies.
Some technical actions can be listed to give information about energy efficiency projects
implemented on the two national power plants:
P&M No. 17 Installation of Steam Recovery Turbine at the Marsa Thermal Treatment Facility
Implementing Entity: State-owned entity
Type of Instrument: Other (Technical)
Status: Implemented
CCPM End-use efficiency and energy services (Directive 2006/32/EC)
The Thermal Treatment Facility in Marsa started operating at the end of 2007 and took over the
incineration activities that were previously carried out at a number of other facilities which did not
meet EU standards.
The facility treats waste by incineration at high temperatures, and is dependent on electricity and
diesel for the operation of its high temperature furnace. This temperature is controlled by circulating
cold water, which is then released as steam. Following studies to investigate the potential of
recovering electrical energy from the ‘waste heat’ of this plant, a turbine and generator are to be
installed (in 2009) so that steam which is currently being released into the atmosphere will be
redirected to a turbine to generate electricity.
It is estimated that the electricity generated by the turbine will be roughly equivalent to the
consumption of the plant, hence making the incinerator self-sufficient in terms of electrical energy.
GHG savings are estimated to be about 2.7 Gg CO2 equiv. in 2010 decreasing to 1.4 Gg CO2
equiv. in 2020.
P&M No. 22 Biogas from Urban Waste Water Treatment
Implementing Entity State-owned entity (Water Services Corporation)
Type of Instrument: Economic
Status: Implemented
CCPM Electricity production from RES (Directive 2001/77/EC)
The Malta South Urban Waste Water Treatment Plant (Malta South UWWTP) is the largest of the
three waste water plants being constructed under the Government’s Infrastructure Programme for
the upgrading of the national waste water infrastructure and for achieving compliance with the
requirements of the Urban Waste Water Directive.
With the aim of reducing the plant’s energy demand on the national grid and treating the sewage
sludge generated prior to disposal, the Malta South UWWTP will feature anaerobic sludge digestion
facilities with biogas production. The methane produced will be combusted in a CHP plant for
energy recovery: the electricity output will be used to meet a share of the plant’s own operating
demand, whereas the heat will be used in heating up and maintaining the sludge digesters at 35°C

16.3 Lessons learned
Malta has not yet developed an integrated system to lower GHG emissions and so ESCos
investments are made up by public government only in the form of demonstrating projects. The
most important constraints are focalized in the legal/political and the social/cultural dimension.
These can be constraints due to weakness in the provision of effective political support and the
absence of verification protocols for the certification of the contract’s guarantees, the reduced
interest for ESCos and the scarce educational policy on energy savings. Other important barriers of
the financial dimension are the lack of funds and poor financial support for ESCos.

17 Netherlands
17.1 Legislative, financial, contractual and marketing framework
17.1.1 Legal background for TPF and ESCos
The Netherlands know myriad initiatives to keep fossil fuel emissions within bounds. Enforcing
legislation however seems to be still lacking.
The Kyoto protocol states that the Netherlands will have to decrease their CO2 emission by 6%
from 2008 to 2012, compared to 1990 levels. The Dutch government have decided on a 20% CO2
emission decrease by 2020, compared to 1990 levels. Moreover, 20% of all energy used will be
from renewable energy sources.
Two European regulations are due to be implemented on a federal level. The Energy Efficiency and
Services Directive (ESD) is deposited upon all EU member states in 2006 and aims for a cost
effective improvement of energy efficiency with end use by indicating target values, removal of
market barriers, and stimulation of the energy service market. The Energy Performance of
Buildings Directive (EPBD) is a framework for calculating integrated energy performance for
buildings.
CO2 reduction at a local level is described in BANS (“Bestuursakkoord Nieuwe Stijl”: policy
agreement new style) in 1999, and updated in 2007. BANS contains a climate policy
(“Klimaatbeleid”) which has resulted in an agreed CO2 reduction of 5 to 40% in about 250 of the
441 current Dutch municipalities, compared to the Construction Act (“Bouwbesluit”). The
Construction Act (latest version from 2003), outlined by the Ministry of Housing, Spatial Planning
and the Environment, consists of technical regulations which apply to all buildings, like dwellings,
office buildings and stores etc. in the Netherlands.
(Scholma, 2008)
17.1.2 Financial institutions and schemes
Government agency SenterNovem work for the Ministry of Housing, Spatial Planning and the
Environment and the Ministry of Economic Affairs and carry out government policies concerning
innovation, energy, climate and environment.
Duurzame Energie in Nederland (Sustainable Energy in the Netherlands) is a SenterNovem
programme to promote the use of renewable energy sources, in order to reach the government’s
energy targets (20% provided by renewable energy sources by 2020). One of the programme’s
purposes is to take away non-financial barriers, like obtaining necessary permits. The programme
functions as a helpdesk and offers project guidance.
The EIA (“Energie-InvesteringsAftrek”: Energy Investment Deduction) is a fiscal regulation to
stimulate investments in energy saving and sustainable assets. Every year a new Energy List is
released, which states the energy saving norm and all examples of energy saving and sustainable

assets. In 2008, the EIA allows a 44% deduction from all approved investments, with a minimum
investment amount of € 2,100 and a maximum of € 110,000,000.
SDE (“Stimuleringsregeling Duurzame Energieproductie”: Regulation for the Stimulation of
Sustainable Energy Production) is a government regulation to promote the production of clean and
sustainable energy, a.o. wind power, solar photovoltaics, cogeneration and biomass. SDE has come
into force in 2008, as a successor of the 2003 regulation MEP (“Milieukwaliteit
ElektriciteitsProductie”: Environmental Quality of Electricity Production), by which no maximum
amount of grant was given. The popularity of MEP prooved to be far bigger than the government
had ever anticipated. Hence the costs got out of hand, and the government decided to terminate the
grant on the purchase of solar panels and solar boilers.
SDE remunerates every generated kWh. Another important change is the possibility to balance up
until 3,500 kWh. This means that all returned energy can be deducted from the use. As such, a
private individual receives the same price for the returned energy as which is paid for the power
taken at another time. If more than 3,500 kWh is returned, the right to balance disposes and just the
feed-in tariff offered by the energy supplier is remitted. (Source: Wikipedia).
For years, entrepreneurs can profitably invest in environmentally friendly technologies with fiscal
policies MIA (“Milieu-InvesteringsAftrek”: Environmental Investment Deduction) and Vamil
(“Willekeurige Afschrijving Milieu-investeringen”: Arbitrary Deduction Environmental
Investments). All environmental investments that are eligible for MIA and/or Vamil are listed on
the combined MIA and Vamil list (“Milieulijst”). The Ministry of Housing, Spatial Planning and
the Environment adjusts this list every year, to match policy priorities and current market
developments.
Groen Beleggen en Financieren (Green Investing and Financing): This programme supports
environmentally friendly projects by facilitating cheap bank loans. The regulation is financed by
private investors and depositors, who receive fiscal benefits in return.
EOS (“Energie-OnderzoekSubsidies”: Energy Research Grants) offers companies and research and
educational institutions financial aid. The programme supports the development of knowledge and
its applications in many other ways.
MSK (“MilieuSteunKader”: Environmental Support Framework): There is a limit to the total
amount of financial support that environmental investments are allowed to receive from the
government. The two main principles are: 1. A Project cannot be subsidised for more than 40% of
its total investment costs (investment grant maximum); 2. During the running time, a project cannot
receive more grants than its total amount of investment (exploitation grant maximum).
17.1.3 Barriers
Biomass projects in the Netherlands usually face a number of common bottlenecks:
• The specific investment costs are high in comparison with fossil fuel systems.
• The investments are too big to be financed by a private or small company itself, but as a
project too small for an external financer.
• Few small-scaled bioenergy projects are realised in the Netherlands, which renders little
statistic data on risks and financial recoveries. Also, financers have little experience with
such projects.
• Profitable exploitation depends for a significant part on governmental support.
• Bioenergy appliances are not widely used, and therefore cannot be made fit for other
purposes. Usually the only tradeable part is the engine/generator.
• Financial success depends on factors that are beyond the initiator’s control (e.g. costs of fuel
supply and residue treatment, and yields of power and heat sales).

17.2 Technical framework
17.2.1 Quality and monitoring
Protocol Monitoring Duurzame Energie (Protocol Monitoring Sustainable Energy) provides a
method to calculate the yield of all utilised renewable energy sources and its relation to the total
yield of generated energy. This protocol is outlined by SenterNovem and used by CBS (“Centraal
Bureau voor Statistiek”: Statistics Netherlands). CBS deliver data to the Ministry of Economic
Affairs, which in turn use the data to bring about their policy objectives. The latest update stems
from 2006; a new version is due in November 2009.
Protocol Monitoring Energiebesparing (Protocol Monitoring Energy saving) has been provided by
SenterNovem in cooperation with CPB (“Centraal Planbureau”: Netherlands Bureau for Economic
Policy Analysis), RIVM (“Rijksinstituut voor Volksgezondheid en Milieu”: National Institute for
Public Health and the Environment) and ECN (“Energieonderzoek Centrum Nederland”: Energy
Research Centre of the Netherlands). Its purpose is to monitor energy savings, i.e. how much less
energy is used.
Nederlandse Technische Afspraken (Dutch Technical Agreements) by the Ministry of Housing,
Spatial Planning and the Environment focus on the percentage of biogenous elements in secondary
fuels. NEN (“NEderlandse Norm”: Dutch Norm) are the Dutch national standards institution. The
NTA-norms are a product of NEN. There are various norms available on the application of
renewable energy sources. A norm recently confirmed is NTA 8080:2009 “Sustainability criteria
for biomass in behalf of energy objectives”. NTA 8003:2008 “Classification of biomass for energy
purposes” is another one.
Also, there are reports based on Dutch data by international organisations in the likes of the IEA
(International Energy Agency) and Eurostat.
17.2.2 Appropriate technology for Bio-Sol-ESCos
Netherlands Statistics (CBS) data on numbers of installations, electric power and thermal power of
renewable energy sources are erratic. This makes it difficult to determine a complete image of the
relations between renewable energy sources to total energy amounts, and biomass and solar power
technologies in particular.
It is difficult for banks to estimate the success of technologies proposed by initiators of a project.
Nonetheless this is crucial information for the decision to either finance a project or not. To tackle
this question, banks usually employ an independent technical advisor or ask for a track record, i.e.
documented proof that a particular technology in combination with a particular fuel actually works.
SenterNovem have outlined a biomass technology matrix, containing technologies proven to be
successful. The following tables are deducted from this matrix. Note that this information is from
November 2005 and might be incomplete.
Stand-alone, thermal and biochemical conversion:

Proven and applied in the Netherlands, technology runs 100% on given fuel
Technology Fuel
Incineration, grate oven Clean and green wood (thinning and pruned wood)
Incineration, grate oven A wood*, used, untreated and dry wood
Incineration, grate oven Solid recovered fuel, residential waste
Incineration, grate oven Solid recovered fuel, company waste
Incineration, circulating fluidised bed Clean and green wood (thinning and pruned wood)
Incineration, (adjusted) piston engine Biogas (from attenuation)
Attenuation, batch reactor Residential kitchen and garden waste, separately collected
Attenuation, plug flow reactor Bovine and pig manure
Attenuation, plug flow reactor Residential kitchen and garden waste, separately collected
Attenuation, stirred tank reactor, extensively stirred Bovine and pig manure
Attenuation, stirred tank reactor, extensively stirred Sewage and industrial wastewater treatment plant sludge
Attenuation, stirred tank reactor, intensively stirred Bovine and pig manure
Attenuation, stirred tank reactor, intensively stirred Sewage and industrial wastewater treatment plant sludge
Table 17.1 Stand-alone, thermal and biochemical conversion.
Cogeneration and biochemical conversion:
Proven and applied in the Netherlands, technology runs partially on given fuel
Technology Fuel
Cofiring, coal conveyor Solid recovered fuel, chips/pellets from residential waste
Cofiring, coal conveyor Solid recovered fuel, chips/pellets from construction waste
Cofiring, coal conveyor Animal meal
Cofiring, separate burner A wood*, used, untreated and dry wood
Cofiring, separate burner Shells (cacao, peanut, almond)
Cofiring, separate burner Kernels (olive, cherry)
Cofiring, separate burner Animal meal
Coal gasification, separate burner Clean and green wood (thinning and pruned wood)
Coal gasification, separate burner A wood*, used, untreated and dry wood
Coal gasification, separate burner B wood*, treated (painted, glued)
Oil gasification, oil via separate burner Vegetable oils and fats
Attenuation, batch reactor Side-strip grass
Attenuation, stirred tank reactor, extensively stirred Side-strip grass
Attenuation, stirred tank reactor, extensively stirred Side-strip grass
Attenuation, stirred tank reactor, intensively stirred Poultry manure
Attenuation, stirred tank reactor, intensively stirred Poultry manure
Table 17.2 Cogeneration and biochemical conversion.
*Classification of used wood
A wood: solid, sawn and untreated (beams, planks and pallets)
B wood: wood waste, no green wood, both treated and untreated, including glued and/or pressed
wood; cannot be impregnated and/or creosote treated
C wood: wood waste, no green wood, fully or partially impregnated and/or creosote treated
Statistics Netherlands (CBS) have provided some available data on employed thermal solar energy
installations over the last years. Unfortunately, no numbers of employed systems connected to
photovoltaic panels larger than 6 m 2 are known by CBS. Especially solar boilers connected to
panels smaller than 6 m 2 are being employed. Thus this technology boasts an opportunity.
Employed thermal solar energy installations
Systems ≤6 m 2 (solar Systems >6 m 2
Systems ≤6 m 2 (solar Systems >6 m 2

oilers) boilers)
Number m 2
2002 10035 - 28080 6002
2003 8385 - 23450 4236
2004 7844 - 21284 5060
2005 7294 - 17995 2582
2006 5626 - 13186 1751
2007 6365 - 17435 2485
2008 7924 - 20654 2456
Table 17.3 CBS, 2009.
17.3 Lessons learned
There are plenty of grant possibilities. Biomass and solar heat systems are being used, but not on a
wide scale.
Sources
SenterNovem, Statistics Netherlands (CBS), Ministry of Economic Affairs
http://www.senternovem.nl/mmfiles/Energiediensten%20voor%20de%20gebouwde%20omgeving
%20Geert%20Scholma_tcm24-261823.pdf
http://www.senternovem.nl/duurzameenergie/agenda/denk_mee_over_de_herziening_protocol_mon
itoring_duurzame_energie_2009.asp
http://statline.cbs.nl/StatWeb/publication/?DM=SLNL&PA=71457NED&D1=2,6,9,12,18&D2=0,2
6-44&D3=12-17&HDR=T&STB=G1,G2&VW=T
http://www.senternovem.nl/duurzameenergie/publicaties/publicaties_bioenergie/biomassa_technologie_matrix.asp

18 Poland
Poland is characterized by a low uptake of the ESCO scheme. Accordingly, information on the
Polish ESCO market and details of ESCO schemes is rare.
The JRC 57 states that ESCO models were not successful in Poland and that ESCO activity is
limited. Around 5 specialized ESCOs are said to be active in the market. The previous report 58
counts 13 – 15 companies while the JRC ESCO company database 59 lists 7 companies (June 2009).
Most of the companies identified in other publications and during this research are subsidiaries of
internationally active companies (e.g. Siemens 60 , Dalkia 61 ; Axima 62 ; Honeywell 63 ). Project
references published by these companies (if any) do not provide comprehensive information and it
remains unclear whether ESCO projects (in a traditional sense) are performed. It seems these
companies are mainly active in DH or CHP projects and industrial partners are the preferred
customers.
Especially German ESCOs are represented by subsidiaries in Poland. Examples are MVV 64 and
Endico 65 . From MVV, references on Polish ESCO projects are not available. Endico provides some
references but strangely, they stated not to be active in contracting any more. 66 It remains unclear
which level of experience and activity is achieved.
The same goes for a number of smaller companies that state to offer ESCO services on their
websites or in other publications:
• Polish Energy Partners S.A. 67
• Przedsiębiorstwo Oszczędzania Energii ESCO Sp. z o.o (POE ESCO) 68
• PPWH WEST-BUD Jachimowicz Sp.j. 69
• Przedsiębiorstwo Naukowo-Techniczne Cibet sp. z o.o. 70
• SIGMA TERMODYNAMIK Sp. z o.o. 71
Again, no (or no recent) references are published.
Regardless of the overall ESCO market situation in Poland it can be assumed that ESCO projects
involving solar thermal or biomass technologies are rather uncommon. There are of course some
ESCO projects with biomass heating (e.g. Endico) and others that address DH or CHP with
biomass.
57
Bertoldi, P. et al.; Latest Development of Energy Service Companies across Europe - A European ESCO Update;
JRC; 2007.
58
Bertoldi, P. & Rezessy, S.; Energy service companies in Europe – Status report 2005; JRC; 2005.
59
http://sunbird.jrc.it/energyefficiency/ (accessed June 2009).
60
http://www.sbt.siemens.pl/
61
http://www.dalkia.pl/
62
http://www.axima.pl
63
http://www.honeywell.com/sites/pl/
64
http://www.mvv-energie.de/cms/konzernportal/de/homepage.jsp and
http://www.mvv.pl/
65
http://www.swl.de/site/swl/de/marktpartner/dienstleistungen/main.htm and
http://www.contracting.pl/html/jastrzebia.html
66
direct contact
67 http://www.pepsa.com.pl/
68 http://www.esco.krakow.pl/
69 http://www.west-bud.pl/start.html
70 http://www.cibet.com.pl/str.php
71 http://www.sigma-audyt.gda.pl/

Barriers
According to the JRC ESCO report 57 the volume of ESCO contracts stagnated at around
€ 10 million per year. The potential for energy saving through energy efficiency measures and
therefore ESCO activities however is enormous in Poland. The report further explains some of the
major barriers to further ESCO market development in Poland:
• Many potential customers (municipalities, industrial companies) have a sufficient in-house
expertise concerning energy use and technologies (energy manager positions installed in the
socialist era). Therefore, potential customers do have the capacities to perform energy audits
on their own and to identify necessary investments.
• Most ESCOs do not command the capital necessary in order to offer TPF. A lack of capital
basis also prevents ESCOs from taking bank loans.
• Financing services provided by ESCOs are basically not needed: Several national and
international financing schemes provide funds to, among others, energy efficiency projects.
• Public tendering processes: The ESCOs offer a free pre-audit while a more thorough audit
cannot be done for free. This means that a tendering process is necessary for the detailed
audit in which competitors can use the pre-audit that was already done.
The report closes with: “These and other barriers make the guarantee based and/or financing
oriented ESCO business unsuitable for the Polish market.”
Other aspects mentioned by several authors 72, 73 are:
• Public procurement procedures hamper the selection of best bids and are not suitable for
long-term contracts; Decision processes and financial procedures within public bodies is too
complicated;
• Low heat prices within approved tariffs;
• The financially insecure position of potential customers;
• Relatively high interest rates;
• Low coal prices; Low prices of energy carriers in comparison to prices for equipment and
services;
• A lack of example projects;
• A general lack of awareness concerning energy efficiency;
• A lack of understanding / publicity of ESCO schemes;
• A lack of laws regulating specifically ESCO schemes;
Most sources agree that the ESCO sector in Poland needs initial Governmental support in order to
tap the full market potential. Since ESCO schemes and contracts are rather complicated, laws
regulating specifically contracting services would help to overcome basic insecurities. Furthermore,
public procurement processes should be adapted in order to open this market to ESCO services.
72 Mazur, J.; Development of the ESCO industry and projects in Poland; POE ESCO.
73 Szajner, A.; ESCO in Poland: Activities, Market, Barriers; Sigma Termodynamik Ltd.; 2005.

Besides implementing grant programmes (for renewable energy and energy efficiency) and general
awareness campaigns, ESCO´s should be eligible in grant programmes and decision makers in e.g.
municipalities should be pointed to the opportunities provided by ESCO approaches. Finally, the
eligibility of ESCO projects in e.g. regional environmental funds would help to facilitate fund
raising by ESCOs.

19 Portugal
There are 10 operating ESCos in Portugal and they all are local ESCos. Their range of activities
focuses mostly on energy efficiency in buildings, CHP and installation of RES systems in buildings.
Also some of them offer biomass and/or solar heating solutions within their range of energy
services. But there are no existing ESCo projects in Portugal intergrading both biomass and solar
heating solutions [personal contact: Marco Correia, Pedro Mateus, ADENE, 2009]. Popular
contractual schemes are the BOOT model, especially in the CHP sector, and the Chauffage
contracts. Also shared shavings are gaining popularity [Bertoldi, 2010].
The type of contract used very often in Portugal is the energy supply contract. The typical
contracting period for an ESCo project is 8 years and ESCo projects are implemented both in the
private and public sector [personal contact: Marco Correia, Pedro Mateus, ADENE, 2009].
There are some available financial schemes under the Portuguese energy Efficiency Plan. In
Portugal apart from the transposition of the Energy Service Directive (2006/32/2009) into national
legislation (Decreto-Lei n.º 319/2009 de 3 de Novembro) there is no other Law regulating the ESCo
market by e.g. providing model contracts or accreditation for ESCos [personal contact: Marco
Correia, Pedro Mateus, ADENE, 2009].
Over the last 4-5 years the Portuguese market has been growing steadily, though at a slow rate
[Bertoldi, 2010].
The barriers identified for the weak development of BioSolESCo projects in Portugal are the lack of
standardized documents and procedures as well as the lack of existing ESCo projects and expertise
in this sector. Also there are no Measuring and Verification protocols available in Portugal for
BioSolESCo projects [personal contact: Marco Correia, Pedro Mateus, ADENE, 2009].
The financial crisis has had a negative impact on the access to financing for ESCos. In addition,
several potential clients have frozen some ESCo projects planned. The market at present is moving
slowly because potential customers are more reluctant to sign long-term contracts.
[Bertoldi, 2010].
There is a software tool available for the technical and economical analysis of solar thermal
applications and not for biomass, and the name of this tool is SOLTHERM.
In the National Action Plan for Energy Efficiency of Portugal 74 the promotion of Energy Service
Companies is set, where tenders and incentives for creation of ESCos and Efficiency contract are
foreseen.
74 “Portugal Efficiency 2015” version for public consultation- February 2008 available at:
http://www.adene.pt/NR/rdonlyres/1A510789-1032-4180-8A7B-
798B0DDA2F92/828/Portugal_EnergyEfficiencyPlan2015Support.pdf )

20 Romania
[personal contact: Corneliu Rotaru, Romanian Agency for Energy Conservation - ARCE, 2009]
In Romania there are 10 ESCos identified, but there is no specific registration procedure in place in
order to evaluate the number of effective ESCOs in operation. Among these ESCos there are 6
public ESCos, 2 multinational and 1 foreign ESCo.
The ESCos are mostly focused on CHP projects. Projects concerning energy efficiency in buildings
have not yet been developed, but there are few projects in this area which are in preparation phase.
On the other hand there is no documentation for ESCo projects concerning the installation of RES
systems in buildings. Finally it is not known whether there are any ESCos offering biomass and/or
solar heating solutions within their range of energy services in Romania.
The type of contract schemes used in Romania is mostly the Built Own Operate Transfer contract.
For Energy Performance Contracting (EPC) it is reported that such contracts are in preparation.
The typical contracting period for an ESCo project is 7-9 years and ESCo projects are usually
implemented in the private sector.
In general the financial institutions in Romania are not familiar with ESCo projects and there is no
available financial scheme or mechanism to support such projects. The European Bank for
Reconstruction and Development (EBRD) though is supporting energy efficiency improvements in
the public sector in Romania with an investment to expand energy saving initiatives across
Romanian municipalities. A €10 million corporate loan to EnergoBit ESCO, a subsidiary of
EnergoBit Group SA, will be used to finance energy efficiency projects mainly in the Romanian
municipal sector. The projects will range from conducting energy saving studies and engineering
assessments to installing energy efficient public lighting, introducing combined heat and power
generation as well as implementing small scale co-generation projects for industrial clients
[http://www.ebrd.com/pages/news/press/2011/110721.shtml].
The Energy Service Directive (2006/32/EC) was transposed into national legislation with
Governmental Ordinance no 22/2008. There is no other law regulating the ESCo market like e.g.
providing model contracts or accreditation for ESCos, but model contract for Energy Performance
Contracting (EPC) is in preparation.
The barriers identified for the weak development of BioSolESCo and in general ESCo project in
Romania are summarized below:
• The weak development in the public sector is related to Energy Performance Contracting
that is not yet officially accepted by the National Regulatory Authority for Public
Procurement and
• Payment for ESCos according to the value of energy saved is nor accepted by the
financial/accounting procedure of public authorities
• There is a lack of standardized documents and procedures
• Reluctance of energy consumers because of lack of certification/registration procedure for
ESCo and lack of Monitoring & Verification official protocol.

• Very few pilot projects
Finally no software tool is available for the technical and economical analysis of solar thermal and
biomass applications in Romania.

21 Slovakia
In 2009, 5 small ESCo type enterprises were identified on the market. These companies are active
as energy consultant companies, manufacturers of building automation & control systems, and
energy service companies. National companies offer mainly energy audits, energy consultancy and
part of energy contracting.
About half of the ESCo projects involve renewable energy sources, approximately 15% are
developed respectively in each of the following areas: commercial sector, co-generation and district
heating. A small percentage (5%) of projects is carried out in street lighting.
EPC is not frequently used. The main source of financing for ESCo projects is EU structural funds
and customers own corporate funds.
[Angelica Marino, Paolo Bertoldi, Silvia Rezessy, “Energy Service Companies Market in Europe –
Status Report 2010”, Institute for Energy, Joint Research Centre]
According to our latest information currently in the Slovak Republic there are no ESCo activities in
the field of biomass and/or solar heating [personal contact with: Andrej Slancik, Slovak Innovation
and Energy Agency – SIEA, 2009].

22 Slovenia
Regulations related to ESCo projects in Slovenia are Act on Public - Private Partnership (O.G.
127/06) and Public Procurement Act (O.G. 128/06). In Slovenia there is no special state scheme for
financing ESCo projects. Thus, main sources of financing are commercial credits. On the other
hand, Environmental Development Fund of the Republic of Slovenia (Eco Fund) was established
according to the stipulations of the Environmental Protection Act dated June 1993 as a key
instrument for the financing of the environmental investment projects. Eco Fund provides loans for
the environmental protection investments at favorable interest rates (soft loans), including loans for
environmental protection services, equipment and technology for environmental protection,
environmentally friendly technologies and products etc. In period 2002-2008 activities in the area of
third-party financing (TPF) were conducted within national energy program and within a SAVE
program in cooperation with Germany. These included seminars, workshops, development of
guidance notes for TPF projects, pilot TPF projects etc. Thus, the barriers related to information and
awareness rising are mostly overcame in Slovenia. The main barrier for development of ESCo
projects in Slovenia is a lack of skills and training in public sector to enable it to deal with the
procedure related to ESCo projects. According to Act on Public - Private Partnership, support for
these projects is planned by the sector for public-private partnership within Ministry of Finance.
Moreover, because of a relatively small market for ESCo projects there is lack of interest from
foreign ESCos to be present at the Slovenian market.
In spite of barriers during previous period, there were few efforts to establish an ESCo in Slovenia
but because of a difficult financial period there is a lack of success in this field. EL-TEC MULAJ
ltd. is performing ESCo projects at the moment and there is one ongoing ESCo project regarding
public lightning done by GMW ltd.

23 Spain
As reported by Bertoldi et. al., 2007, the Spanish ESCo industry is rather complex and is composed
of local private and public ESCos as well as multinational companies. Many regional and local
energy agencies, as well as the Institute for Diversification Energy and Efficiency (IDAE) act as
ESCo.
In 2009, two associations bring together most of the ESCOs operating in Spain. AMI (Asociación
Espanola de Empresas de Mantenimiento Integral de Edificios, Infraestructuras e Industrias,
Spanish Association of Enterprises of Complex Maintenance of Buildings, Infrastructures and
Industries - AMI) is composed of 15 large companies. ANESE (Asociación de empresas de
servicios energéticos) has been established only recently and comprises more than 200 smaller
associates
[Angelica Marino, Paolo Bertoldi, Silvia Rezessy, “Energy Service Companies Market in Europe –
Status Report 2010”, Institute for Energy, Joint Research Centre].
In Spain third party financing is a well established instrument through IDEA in order to increase the
energy efficiency in buildings. The framework conditions are suitable and the demand for and the
supply of TPF services is growing [ST-ESCos, http://www.stescos.info/short_report_st/short_es.pdf
].
There are ESCos offering solar heating solutions within their range of activities as well as energy
efficiency in building. Solar thermal projects are well known in Spain. A number of ESCo projects
in the area of solar thermal have been implemented in the framework of European projects (e.g.
solarge IEE, ST-ESCOs).
Some banks like CAJA POSTAL and others have been implementing the TPF instrument for green
electricity.
For solar thermal applications the ST-ESCo software tool is available for conducting the technical
and economical analysis. The software tool starts with a simplified interface that leads the user to
enter data in the Energetic Module –called EnMo and Economic Module – celled EcMo. The
Energetic Module is a simulation tool based on TRNSYS, with a user friendly interface where the
user can introduce all technical data referred to the solar thermal system. The Economic Module is
the one that does the economic, financial and contractual analysis, based on the EnMo results or
other energetic results coming from any other energetic software. (http://www.stescos.org/tool.htm)
ESCO activity in the public sector is limited due to regulations that are not supportive of EPC, for
instance, amortization accounting does not allow projects of the appropriate length. Public sector
investment is limited by barriers such as split incentives. Changing the relevant regulation may increase
the motivation to invest in longer term projects in the public sector. A major step forward would be if a
standard Measurement and Verification Protocol was implemented and commonly used, which could
reduce the perceived risk of errors in monitoring savings and build trust of financial organizations and
clients, and which would be of real value to help properly evaluate the effectiveness of projects
[Bertoldi et. al., 2007].

Recent Developments:
• Sustainable Economy Law was voted in February 2011
[http://www.mondaq.com/unitedstates/article.asp?articleid=124286]. One of the objectives of
this law is to create a positive environment for the entrepreneurship in the ESCO sector. Art.
102 of the law provide a definition of ESCo, which is very similar to the one in the Energy
Service Directive. According to this definition the company should assume a certain level of
financial risk. The Law states that the government will develop a specific plan aimed at
promoting ESCos, remove barriers and facilitate financial resources [Angelica Marino, Paolo
Bertoldi, Silvia Rezessy, “Energy Service Companies Market in Europe – Status Report 2010”,
Institute for Energy, Joint Research Centre].
• Project financing comes mainly from the banks, but recently due to the economic crisis,
projects are financed from ESCo’s own equity or from relevant funds. ESCo market is
supported, directly or indirectly, via various National and Regional Programmes such as the
Estrategia de Ahorro y Eficiencia Energetica E4 (National Energy Efficiency strategy) and
E4+ where Energy Audits and energy interventions are partly subsidized [Angelica Marino,
Paolo Bertoldi, Silvia Rezessy, “Energy Service Companies Market in Europe – Status
Report 2010”, Institute for Energy, Joint Research Centre].
• Some recent initiatives, focused on both the improvement of energy efficiency and the
penetration of renewable energies in the building sector through ESCOS, are expected to
have a positive effect in the short term: the IDAE's Financing Lines for Thermal Renewable
Energies in Buildings BIOMCASA-SOLCASA-GEOTCASA; Plan 330 ESE (Activation
Plan in the State’s General Administration Buildings through ESCOS); Plan 2000 ESE (Plan
to Boost Energy Services Contracts) [Energy Efficiency Profile: Spain, Odyssee, June 2011,
http://www.odyssee-indicators.org/publications/country_profiles_PDF/esp.pdf].

24 Sweden
24.1 Legislative, Financial, contractual and marketing framework
24.1.1 Legal background for TPF and ESCos
Insurance schemes required.
References are found to both ESCos and EPCs, but the majority of the existing forms are EPCs.
Third party financing is not very common in the past years, most probably due to the clients being
public sector actors having the means to finance the operation themselves or together with the
ESCo.
The energy service directive (2006/32/EC) (ESD) contributes to the need of ESCos and an Energy
efficiency improvement commission of inquiry was set up in 2007 by the Ministry of Enterprise,
Energy and Communications to study the possibilities of ESCOs in reaching the targets set by the
ESD. 75
24.1.2 Existing contracts
There are a number of active ESCos in Sweden and the growth in the ESCo market has been rapid.
In 2007 it was estimated that there were 12-15 ESCo in Sweden 76 and in 2009 there were 27 ESCos
active in Sweden and the annual revenue of the ESCos in 2008 is estimated to be over 140 MEUR.
Most of the clients are from the public sector. The trustworthiness of the ESCo companies is
increasing. 77
The ESCos in Sweden can be categorised into four categories:
• Building controls, automation and control manufacture
• Facility management and operation companies
• Consulting firms
• Energy supply and service companies.
The ESCo services include project identification and the technical design of the project.
Performance guarantees are common but the ESCos very rarely take insurance coverage in case the
energy savings would not realise. Third party financing is also rare in Sweden, although the ESCos
offer them to the clients. One of the reasons is that the majority of the ESCo projects are in the
municipal sector, and they can self finance the projects or get better loan offers from other sources
directly. 78 Depending on the ESCo, the project may also include project implementation, operation
services and purchase of fuel and/or electricity.
75
Lindgren, Kate. Transforming the ”efficiency gap” into a viable business opportunity: Lessons learned from the
ESCo experience in Sweden. Article. 2009
76
Bertoldi, S. et al, Latest Development of Energy Service Companies across Europe - A European ESCO Update. JRC.
2007
77
Lindgren, Kate. Transforming the ”efficiency gap” into a viable business opportunity: Lessons learned from the
ESCo experience in Sweden. Presentation. 2009
78
Lindgren, Kate. Transforming the ”efficiency gap” into a viable business opportunity: Lessons learned from the
ESCo experience in Sweden. Article. 2009

Among common ESCO services are adjustments to equipment, increasing thermal insulation, heat
recovery, retrofitting old oil boilers with renewable fuel boilers, and heating of water with solar
installations.
24.1.3 Financial institutions and schemes
The government grants include investment grants for solar heating and grants for conversion of
heating systems. The grant for solar heating is aimed at accommodation buildings and at specific
commercial buildings for space heating and hot water. The grant for conversion of heating system is
for changing direct electric heating to other forms of heating (heat pumps, DH or biofuel heating).
79
24.1.4 Barriers
The identified barriers include the unawareness of such operations and companies, low energy
prices and the lack of capable labour for ESCo operations. The larger companies have proven track
record of successful ESCo operations but the smaller companies find it hard to enter the market
with no prior cases of ESCo operations. 80
Some of the ESCos are currently using all their personnel in ESCo projects and cannot take more
projects because there is no staff available for implementing the project. The need for energy
experts and engineers exists in Sweden.
The price of electricity is a driver and a barrier for ESCo development. When energy prices are
high, there is more concern of the costs of heating and energy in general. When the prices are low,
the customers do not seem to care so much about the energy efficiency. At the moment, the
customers are also concerned about the CO2 emissions and this is one major driver for ESCos in
Sweden.
24.2 Technical framework
24.2.1 Appropriate technology for BioSolESCos
Among the biomass and solar technologies the ones most commonly used in Sweden are pellets and
wood chips for heating and solar collectors for producing hot water.
79 Swedish Energy Agency. Energy in Sweden 2008.
80 Lindgren, Kate. Transforming the ”efficiency gap” into a viable business opportunity: Lessons learned from the
ESCo experience in Sweden. Presentation. 2009

25 United Kingdom
25.1 Legal Background
There is no particular required legal format for an ESCO.
The constitution can be any of the recognised formats in English law as follows:
• Public Limited Company
• Private Company Limited by shares
• Private Company Limited by guarantee
• Limited Liability Partnership (LLP)
• Community Interest Companies
• Industrial and Provident Society
• Trust
• Unincorporated Association
It is suggested that Private Limited Company would be the most appropriate vehicle for most
ESCos as it is the most flexible. Whether it is limited by shares or guarantee will depend on the
aims of the ESCo.
Third Party Finance (TPF) is deemed to be any finance provided by a party other than the ESCO
itself and may be commercial (eg banks or other private investors) or public (eg grant funding).
There are no particular rules relating to the provision of private finance of ESCOs in the UK save
those that apply to borrowing and contracts generally.
Many ESCos are likely to be regulated entities for State Aid purposes. Any sources of public
funding must abide by the State Aid rules as laid down by E C Treaty. Various exemptions are
available and include:
De Minimus
Environmental Protection
The definition of State Aid is not confined to direct funding and can include a variety of other
benefits including low interest loans, rate rebates, loan guarantees etc etc
25.1.1 Existing contracts
By definition contracts between ESCos and there energy users are likely to commercially
confidential.
Purchase of energy (heat and power) from an ESCo by a public authority (e.g. local authority,
prisons, NHS etc) will be subject to Public Procurement Rules.
All contracts should address certain basic principles:
• Duration

• Price and price revision
• Payment
• Security of supply
• Default by either party
25.1.2 Financial institutions and schemes
Finance will be available from commercial lenders subject to usual criteria but may be affected by
the current recession.
Fiscal incentives currently available include:
• ROCS
• Enhanced Capital Allowances (for qualifying technology)
• Climate Change Levy
• Carbon Trust Loans at preferential rates
• Renewable Heat Initiative (from April 2011)
Grants
Low Carbon Buildings
Bio-Energy Capital Grant Scheme
Community Sustainable Energy Programme
Rural Development Programme for England ( precise circumstances required)
Some Energy companies have a limited amount of grant funding for small schemes available on
application
25.1.3 Barriers
• Conventional fuel prices at low point
• Lack of confidence in technologies
• Lack of knowledge among many private investors
• Potentially low and slow rates of return
• Insufficient legislative pressures
• Insufficient government financial incentives or misdirected

26 Croatia
26.1 Legislative, Financial, contractual and marketing framework
26.1.1 Legal background for TPF and ESCos
RES and EE projects in Croatia are supported by the Croatian legislation through the provisions of
the Energy Act (Official Gazette 68/01, 76/07, 152/08), particularly the section entitled “Energy
efficiency and renewable energy sources”, Croatian Energy Development Strategy which is aimed
at improving energy efficiency and increasing share of RES, Government-approved national energy
efficiency programs, and by Environmental Protection and Energy Efficiency Fund which was
established to secure additional funding for projects, programs and similar activities in the fields of
conservation, sustainable use, protection and improvement of the environment.
In Croatian legislation, ESCo model is mentioned in Act on energy efficiency in direct consumption
(OG 152/08). The act regulates:
• Energy efficiency in direct consumption,
• Energy efficiency programmes and plans at national, county and large consumer level,
• Energy efficiency measures, energy services and energy audits,
• Responsibilities of public sector, energy subjects and large consumers
• Consumer rights in implementation of energy efficiency measures.
The act defies an ESCo and states that funds for energy services are ensured by contractor, i.e.
ESCo, entirely or partially, from own sources or third parties, that contractor or a third party bears
risks partially or entirely and that energy service is repaid through savings. Moreover, the Act
formulates energy efficiency contract which has to include following information:
• Energy service client
• Energy service contractor
• Third party if there is any participating in financing
• Primary energy consumption of a building
• Energy efficiency assessment
• Guaranteed energy savings and activates for identification of savings
• Financing schemes for investments in energy efficiency measures
• Mode of fee payment for an energy service
• Other questions
Insurance schemes are incorporated in the ESCo project procedure which is following:
1. Project identification – contact with a potential client including filling of a preliminary
questionnaire.
2. Screening – obtaining information about a building. Questionnaire is used to evaluate if
there is potential for energy efficiency measures.
3. Client interview – deciding about the continuation of the project.
4. Walkthrough audit – verifying if the project is suitable for ESCo model. During this phase a
preliminary financial analysis of the client is performed. Information from Financial Agency
(FINA) about solvency of the client is obtained (BON1 and BON2 – includes data about
business activities, employees, financial assets etc.) together with information if the client is
a regular electricity payer.
5. Bank interview – proposal to a financial institution which will finance the project
6. Client interview – proposal to the client for the continuation of the project

7. Agreement – based on which investment grade audit (IGA) is conducted. The client binds
that he will pay for IGA. The client has to present his financial balances and three-year
business plan. Client’s solvency is checked by the financial department of HEP d.d.
(national electricity company).
8. Investment grade audit
9. Client interview – offer for the project is presented to the client
10. Contract – includes instruments of collateral, bonds and promissory notes for a client from
public sector and bank guarantees for a client from private sector.
11. Project implementation
Insurance of equipment is regulated by a contract with a producer/provider of equipment who
guarantees for the equipment installed. The producer/provider of the equipment has to provide bank
guarantee, its financial report, confirmation from the Ministry of Finance about regular tax
payments, list of business deals regarding similar activities with conformation about regular
execution of the work. The producer/provider of the equipment has to make insurance on the
principle “insurance of all risks” from the beginning of the installation of the equipment to the end
of guarantee period. The producer/provider has to make insurance towards third parties in the case
of death, injury or damage to assets.
As payment security instruments, HEP ESCO use different instruments depending on the type of a
client (Table 26.1). Type and number of instruments used depend on the evaluation of a client
solvency.
payment security
instrument
Promissory note with no
protest clause
Blank or regular bonds
notified by public notary
Bank guarantee for a part of
agreed amount
Bank guarantee for complete
agreed amount
Cash deposit at minimum
level of three monthly
annuities
Mortgage
Fiduciary guarantee
Counties, cities Ministries
yes yes
Hospitals, other
social care
institutions
yes yes yes yes
yes yes yes
yes
Table 26.1 Payment security instruments.
yes yes yes yes
yes yes yes yes
yes yes yes yes
Hotels, industry,
other private
clients
yes
(depending on the
size of a project)
26.1.2 Existing contracts
HEP ESCO, as the only ESCo company in Croatia, works mainly as MESCo dealing mostly in the
area of public lighting, buildings and industry conducting projects involving introduction of more
efficient equipment. Moreover, the firm started working on projects involving renewable energy
sources as CRESCo. Until now they worked with companies from forestry sector involving
utilization of woody residues, e.g. Strizivojna Hrast where diesel aggregate was replaced with

cogeneration using wood processing residues. Moreover, in the near future they are planning to start
with projects involving utilization of solar thermal energy.
The company offers complete service, development, execution and financing of the project. The
whole procedure is conducted “open book” with a customer actively participating in the project.
After project implementation post-installation report and financial analysis are conducted. During
this process baseline consumption, including last three years, and energy consumption after the
project implementation are compared to arrange financial issues of the contract which lasts five
years for private and eight years for public sector. The company does not guarantee performance
because this is usually too expensive for a customer, as this includes monitoring, maintenance, IT
services etc.
26.1.3 Financial institutions and schemes
HEP ESCO is the implementing agency for the Energy Efficiency Project Croatia and is currently
the key market creator for energy efficiency projects. The Energy Efficiency Project Croatia was
initiated by the World Bank (IBRD) and Global Environment Facility (GEF) in collaboration with
Hrvatska Elektroprivreda d.d. (national electricity company) and Croatian Reconstruction and
Development Bank (HBOR). For this purpose Hrvatska Elektroprivreda d.d. and/or HEP ESCO was
received a loan by the World Bank in the amount of 4.4 million € and a GEF grant in the amount of
5 million USD. Main goal of the grant is to support development of the market for renewable
energy sources in Croatia and create an encouraging atmosphere for investments in RES projects.
User of the grant is Ministry of Economy, Labour and Entrepreneurship, implementing body is
HBOR, and partner and subsidizer of the projects is Environment Protection and Energy Efficiency
Fund. The total value of the Energy Efficiency Project Croatia, with participation of international
and domestic banks, such as Erste & Steiermarkishe Bank d.d., Privredna Banka Zagreb d.d.,
Raiffeisenbank Austria d.d., Splitska Banka d.d., Zagrebačka Banka d.d. and KfW, is estimated at
40 million USD over a six-year period.
Environment Protection and Energy Efficiency Fund is the first and only extra-budgetary dedicated
foundation for financing projects, programs and measures of environmental protection, energy
efficiency and use of renewable energy sources in Croatia. Primary Fund goal is conduction of
policy and strategy of environmental protection. That is accomplished through rendering financial
support in investing in environmental protection and projects that increase energy efficiency and
use of renewable energy sources. Fund also participate in co-financing of programs, projects and
similar activities in the area of environmental protection, energy efficiency and use of renewable
energy sources, that are conducted in Croatia, when are organized and financed by international
organizations, financial institutions and other legal entities. Thus, Fund imposes it self as the most
important partner and source of financing for projects in energy efficiency and renewable energy in
Croatia.
Beside Environment Protection and Energy Efficiency Fund, Croatian Bank for Reconstruction and
Development (HBOR) is a significant source of possible financing. HBOR implemented a
programme for financing preparation of renewable energy sources projects. Credits are designed for
project preparation and development of project documentation. One of the programme’s goals is to
encourage use of renewable energy sources.
26.1.4 Barriers
One of the major barriers for expansion of ESCo projects in Croatia is that ESCo activities are not
well defined by regulations. Major obstacle refers to a public sector due to Budget Act (OG 87/08)
that regulates developing of State, regional and local budgets. According to the act, budget is

ought for a one-year period and is estimated according to revenues and expenditures of the
administrative unit based on the last year. Thus, there is a problem how to charge for the savings
made through a project. HEP ESCO has obtained an official confirmation from the Ministry of
Finance, “Šukerovo pismo”, which enables HEP ESCO to conduct projects including energy
savings with public sector and solves problem how to include energy savings costs in the budget.
The problem is that this option is possible only for HEP ESCO. It can be seen that there is a lack of
clear rules how to treat ESCo projects within public budgeting framework.
26.2 Technical framework
26.2.1 Quality and monitoring
HEP ESCO does not provide performance guaranteeing in its projects because this model is usually
too expensive for a customer, including monitoring, maintenance, IT services etc. Thus, monitoring
activities after project implementation are not conducted. In their projects they usually monitor
customers’ electricity bills for their own information.
26.2.2 Appropriate technology for BioSolESCos
Vacuum collectors are more efficient than flat-plate collectors but are also more expensive, around
40%. For that reason, flat-plate collectors are usually used in Croatia. In Croatia, solar collectors
can approximately satisfy 90% customer heat needs during summer period and 10% during winter
period. It is estimated that solar collectors can produce 60-70% more heat in the coastal part of
Croatia than in continental part. Thus, the most suitable location for placing solar collectors would
be costal part of Croatia on buildings which work during whole year but also have increased need
for heat during summer period, such as hotels and hospitals.
Biomass market in Croatia is still not developed. Only woody biomass can be considered for
heating purposes at the moment. Majority of Croatian forest are situated in continental, central, part
of Croatia which would be the most suitable area for utilization of woody biomass. Moreover,
majority of forest industry, which woody residues can be used for heating purposes, is situated in
this area too. Three types of feedstock should be considered, pellets, chips and logs. In Croatia there
are seven larger producers of pellets and they are all exporting majority of pellets produced. Wood
chips can be bought from Croatia forest Ltd., national company for forest management, but long
period contract should be made. Logs can also be bought from Croatian forests Ltd but they pose a
problem regarding automatic feedstock input. Thus, optimal situation for biomass project would be
company from forestry sector which could use woody residues from its production or a project
should be located near forest industry or developed in cooperation with Croatian forests Ltd.
26.2.3 Software tools available
HEP ESCO uses economic programmes to calculate its cost for the preparation and execution of a
project.
Moreover, they have installed Central-Supervisory-Operating system (Centralni-Nadzorni-
Upravljački system – SNUS) in four schools. It consists of SCADA software which is appended
with a module for monitoring, reporting and verifying of savings. Operation indicators are installed
on equipment which enables receiving of data in real time.
26.3 Lessons learned
• Due to comprehensive procedure the ESCo projects should be larger projects, e.g. 100.000-
2.000.000 euros

• It is important to study in detail customer energy consumption
• ESCo projects should be supported by different legislative and financial initiatives
• There is a need for increasing public awareness about ESCo model, environmental issues
etc.