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Energy efficiency is the key to sustainable development; thus, decoupling economic growth from unsustainable energy demand is essential. The Public Utility Commission of Texas (PUCT) has mandated several utility companies' energy efficiency annual goals. While some utilities had been able to easily meet the goals, the other utility companies had struggled to meet the objectives. It is a certificate issued by independent certifying bodies confirming market actors' energy savings claims because of energy efficiency improvement measures. The certificate trading enables utilities buying certificates to meet their energy efficiency goal. If a utility company can implement more energy efficiency programs in terms of the number of kWh/kW with a relatively lower cost beyond their goal, they can sell their energy saving excess to other utility companies that have to implement more expensive energy efficiency measures. The simulation aims to minimize the cost of meeting the goal for energy reduction through energy programs by selecting the least-cost programs. This simulation will calculate the overall cost saving. There are two types of energy efficiency goals which are based on kW and kWh. Additional constraints are also implemented such as Mandatory low-income programs (MLIP) to ensure each utility implements low-income households' measures and 30% Within Service Area (WSA) to ensure 30% of their goal is achieved by their own program. This research suggested that enabling energy efficiency certificate trading minimizes the total cost for achieving the Texas energy efficiency goal. In almost all simulated cases, all utilities financially benefit from joining the trading system because the utility companies spend less to achieve their own energy efficiency goal. In all cases, adding MLIP and WSA constraints increases the total cost to achieve the goal. Furthermore, in terms of the policy, Stakeholder analysis suggested that policymakers consider each utility's different role. Utilities that are within the Electric Reliability Council of Texas (ERCOT) electricity market will have different business structures compared to the ones who are not. Furthermore, integrating Energy efficiency certificate and Renewable Energy Credit would also be more complicated, considering, not all utilities have an obligation to achieve the Renewable Energy Credit target
Texas, among the fastest growing states in the country, has a significant opportunity to improve its productivity by quadrupling its investments in energy efficiency over the next two decades. This assessment reviews and updates a 2007 study competed by ACEEE and provides a new assessment of the potential for energy efficiency and combined heat and power to reduce current projections of electricity sales by 20 to 30 percent by the year 2030. The net electricity bill savings could be substantial, ranging from $12 to $14 billion over the period 2012 through 2030. At the same time, the cost-effective investments would direct spending within the state that might boost employment by a net of 50,000 to 100,000 jobs.
A Manual for the Economic Evaluation of Energy Efficiency and Renewable Energy Technologies provides guidance on economic evaluation approaches, metrics, and levels of detail required, while offering a consistent basis on which analysts can perform analyses using standard assumptions and bases. It not only provides information on the primary economic measures used in economic analyses and the fundamentals of finance but also provides guidance focused on the special considerations required in the economic evaluation of energy efficiency and renewable energy systems.
In his recent paper in The Energy Journal, Ronald Sutherland argues that several so-called market barriers'' to energy efficiency frequently cited in the literature are not market failures in the conventional sense and are thus irrelevant for energy policy. We argue that Sutherland has inadequately analyzed the idea of market barrier and misrepresented the policy implications of microeconomics. We find that economic theory, correctly interpreted, does not provide for the categorical dismissal of market barriers. We explore important methodological issues underlying the debate over market barriers, and discuss the importance of reconciling the findings of non-economic social sciences with the economic analysis of energy demand and consumer decision-making. We also scrutinize Sutherland's attempt to apply finance theory to rationalize high implicit discount rates observed in energy-related choices, and find this use of finance theory to be inappropriate.
The purpose of this study is to analyze the economic effects of federally mandated energy efficiency standards on the market for appliances. The analytical focal point of this thesis centers on representative studies and Congressional testimony supplemented by current articles and data. The benefits and costs of energy efficiency standard implementation are examined. Economic assumptions and key determinant factors that drive results such as discount rate selection, provide the basis for objective comparison. The findings of this study support the need for Federal intervention in the home appliance market to alleviate economic market failures.
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