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In the energy market, we observe a dynamic development of innovative business models that take into account various aspects related to the direction of zero-emission economic growth. Companies are intensifying their efforts in utilizing renewable energy sources, implementing significant photovoltaic projects, and advancing technologies related to wind and hydrodynamic energy. Within this trend, microgrids become a crucial element, enabling efficient management of local energy sources. Contemporary energy companies also focus on innovative digital technologies, harnessing the potential of the Internet of Things (IoT) and artificial intelligence (AI). These tools allow for precise monitoring and optimization of energy consumption, resulting in increased operational efficiency. The expansion of subscription-based energy services encompasses not only traditional energy deliveries but also new aspects, such as intelligent management of home energy installations or the provision of advisory services on energy conservation. This approach emphasizes the customer as a partner in sustainable energy usage. Hybrid energy models, integrating diverse energy sources, constitute a key element in the transformation of the sector. The combination of photovoltaic, wind, and traditional power plants allows for flexible adaptation to changing conditions and maintains stability in the energy supply. In the face of a changing energy landscape, companies consistently strive for sustainable practices, implementing strategies that not only reduce their carbon footprint but also contribute to improving efficiency, ecology, and the decentralization of the energy system. Adapting to these dynamic changes becomes not only a challenge but also an opportunity to create a more sustainable energy future. The objective of this research is to analyze key business models in the energy market and identify their impact on operational efficiency and market competitiveness. The main results indicate significant improvements in energy management and sustainability through the adoption of these models. [ABSTRACT FROM AUTHOR]

Growing research interests in energy service companies (ESCOs) has led to an increase in published research spanning the past decade. However, attempts to map global ESCO-related research have been sparse. The aim of this paper is to map the trends in ESCO, to appraise the state of the field in global ESCO research, and to identify current research gaps. This is achieved by conducting a systematic literature review and qualitative analysis of recently published research papers. The study uses bibliographic, co-citation, and keyword analysis to identify recent trends in global ESCO research. The results show that the aspects of ESCO that most studies have focused on are business models, market development, barriers, and drivers of ESCO, stakeholders in ESCO, energy performance contracts, and risk management in ESCO. In addition, the study identifies two main research gaps in ESCO research. These are public-private partnerships in ESCO programs and the development of a harmonised measurement and verification method for energy savings as the research gaps in ESCO studies. The outcomes of this study would be useful for understanding current developments in global ESCO research and to guide the next frontier in the subject.

Energy efficiency (EE) is our “first fuel” and an essential resource in reaching climate goals, reducing dependence on fossil fuels, increasing security of supply, and many other “Multiple Benefits.” However, by their nature, savings are intangible. Demand-side EE measures are typically decentralized, heterogeneous, and small-scale opportunities. The difficulties in measurement and verification (M&V) of “Negawatts” are an important and often overlooked barrier to their greater application. M&V is a prerequisite to assess the performance of any energy, water, or CO2-saving measure, and to quantify the savings into physical and monetary units for reporting, re-financing, GHG accounting, or other purposes. However, in practice, M&V is often perceived (particularly by clients) as cumbersome, incomprehensible, and costly. In the broader context, energy cost savings alone are often not a sufficiently strong project driver because they lack strategic relevance for decision makers. As “Multiple Benefits” of EE become better understood, the value of quantifying savings to a high degree of accuracy may be declining, creating opportunities for more flexible M&V standards. As a new methodology, this conceptual paper proposes to combine simplified M&V (sM&V) for individual EE measures with quality assurance instruments (QAIs) to verify functionality. This “sM&V + QAI” approach is less cumbersome, less costly, and easier to comprehend than standard M&V approaches, particularly by clients, financiers, and other non-M&V experts. It has been reviewed by international experts and successfully tested and evaluated in the field. Multiple case studies are reported to verify its practical feasibility. [ABSTRACT FROM AUTHOR]

In European countries, there is a growing interest in integrating traditional statistical sources on the labour market with online job ads. They offer detailed and timely information on the use of the Internet for recruiting and the specific skills required at different levels (particularly at a territorial and sectoral level). In this context, this paper proposes an analysis of the similarity between the Italian regions regarding required skills by employers. The study looks at a specific group of innovation-related occupations, ICT professionals, that are believed to be sufficiently represented by online data. The results highlight a regional gap in the use of online offers and differences in professional profiles regarding required skills. Finally, regional skill similarities are compared with some regional features related to the labour market and training. [ABSTRACT FROM AUTHOR]

The energy discourse is multifaceted, encompassing energy creation, storage, and conservation. Beyond the imperative of conserving energy consumption, effective energy management is a critical aspect of achieving overall energy efficiency. Despite being traditionally regarded as low electricity consumers, retailers play a pivotal role in economic activity. While categorized as non-productive energy users, the retail industry operates numerous establishments, facing substantial energy costs that make energy management integral to its operations. Historically, smaller retail stores have lacked awareness of energy saving. However, by connecting these stores, even modest reductions in individual electricity consumption can yield significant overall energy savings. This study aims to investigate the feasibility of implementing the demand-side management (DSM) aggregator model in the retail industry. Through surveys on awareness of energy saving and the application of deep learning techniques to analyze the effectiveness of the Aggregator model, the results reveal that the mean squared prediction error (MSPE) of this research is below 2.05%. This indicates substantial accuracy and offers meaningful reference value for Energy Service Company (ESCO) providers. The findings contribute practical recommendations for the sustainable and competitive implementation of DSM energy management practices in smart cities. [ABSTRACT FROM AUTHOR]

Multi-family building renovation represents a key policy area at the same time, predominantly affects the daily life of residents. The paper tackles the energy renovations of multi-family buildings in Latvia. Specifically, it investigates how the renovation process affects the residents’ health and well-being, their perception, and their understanding of the renovation process. To evaluate the residents’ perception, a survey was conducted in thirteen buildings renovated using energy performance contracting to assess the preparation, execution, and impact of the renovation project. The survey revealed the lack of communication between the parties involved and co-design as the roadblocks to upscale the renovation process in Latvia using energy performance contracting. The paper shows aspects of the process that need to be improved to scale up the renovation in Latvia.

The rapidly changing labor market and the promotion of labor mobility lead to a demand for lifelong learning as well as the need for transparency and comparability of competencies. The application of skill classifications to describe competencies on educational certificates provides a way to document lifelong learning in a standardized way. In this paper, case studies regarding the application of the ESCO classification in three continuing education institutions are described. The results show that ESCO is a useful tool to document learning outcomes of continuing education courses in a comparable and transparent way but the mapping of competencies requires a lot of effort and differs in quality. The presented analysis identifies steps for further development of ESCO and for the change process when it comes to the standardized documentation of skills and competencies.

The energy discourse is multifaceted, encompassing energy creation, storage, and conservation. Beyond the imperative of conserving energy consumption, effective energy management is a critical aspect of achieving overall energy efficiency. Despite being traditionally regarded as low electricity consumers, retailers play a pivotal role in economic activity. While categorized as non-productive energy users, the retail industry operates numerous establishments, facing substantial energy costs that make energy management integral to its operations. Historically, smaller retail stores have lacked awareness of energy saving. However, by connecting these stores, even modest reductions in individual electricity consumption can yield significant overall energy savings. This study aims to investigate the feasibility of implementing the demand-side management (DSM) aggregator model in the retail industry. Through surveys on awareness of energy saving and the application of deep learning techniques to analyze the effectiveness of the Aggregator model, the results reveal that the mean squared prediction error (MSPE) of this research is below 2.05%. This indicates substantial accuracy and offers meaningful reference value for Energy Service Company (ESCO) providers. The findings contribute practical recommendations for the sustainable and competitive implementation of DSM energy management practices in smart cities.

Despite the increasing complexity of problems and growing demand for stakeholder collaboration in the design for sustainability, there is a lack of methodology for understanding complex stakeholder needs and their relationships. This study proposes the need network analysis, a process of investigating the need structures based on need mapping and network analysis. We demonstrate its effectiveness in an empirical study to diagnose the energy service companies in South Korea. Based on the surveys and interviews with stakeholders, we identified their pain points and the problems that have put the industry in gridlock. We report the findings and discuss their implications to sustainable service ecosystem design that involves highly complex sociotechnical problems and policy innovations for the Korean ESCO industry.

Considering the constraints of carbon trading policy, manufacturers have strengthened joint emission reduction with energy service company (ESCO). In view of the capital constraint of ESCO and the demand risk of the manufacturer, in order to promote better cooperation between the manufacturer and ESCO, the influence of manufacturer's risk aversion on supply chain performance is studied. In this paper, we use the mean-variance (MV) model to construct the two-echelon supply chain models of manufacturer's non-shareholding ESCO, manufacturer's shareholding ESCO and manufacturer's shareholding ESCO under risk aversion, respectively. This paper studies the risk aversion strategy of manufacturer's shareholding ESCO, discusses the influence of relevant parameters on decision variables, and analyses the influence of different shareholding proportion and risk aversion coefficient on profit through numerical analysis. The results show that the emission reduction of ESCO and the selling price of the manufacturer are increased when the manufacturer chooses the appropriate shareholding proportion, and interestingly, the manufacturer's shareholding in ESCO will also increase its emission reduction price. However, in order to avoid the risk of equity investment, manufacturers adopt the strategy of reducing the price of emission reduction and sales price, but this behavior will not only reduce their own profits, but also make the emission reduction lower. [ABSTRACT FROM AUTHOR]

In the research, we have developed an operational concept based on new energy generation devices, which, in addition to providing heat and electricity, guarantees uninterrupted supply locally and the sale of system services off-site. Based on international experience in the sector, the overall business concept needs to be developed for successful pilot projects. The trends in the technical-economic and regulatory environment examined show that the direction of change, with uncertain outcomes today, is unanimous: they all support the market penetration and the continued profitability of small-scale power plant devices suitable for secondary regulation. An important task is to identify unique elements in the value propositions. The aim of the research is to identify which of the factors such as realized price differential, heat-side revenues, generation utilization, optimized plant operation, scaling, etc. have an impact on the investment, operation, as well as the overall business model and profitability, and to what extent. [ABSTRACT FROM AUTHOR]

Creditworthiness assessment was one of the first areas to apply machine learning techniques in economics. The creditworthiness of retrofit protection was vital for ESCO in determining the credit scoring. This study aimed to develop a retrofitting assessment model to utilize machine learning with multinomial logistic (MNL) and life cycle cost analysis (LCCA). This study aims to provide an evaluation of creditworthiness models from the evaluation of financing alternative in Indonesia's energy efficiency industry. The goal was to reduce the total of prediction error, which comprised bias, variance, and fundamental error. The findings demonstrated that machine learning approaches might yield significantly greater prediction accuracy. In addition, machine learning is also expected to automatically capture the nonlinear relationship between input features and selected results. This study is also expected to draw on ideas from machine learning to develop an enhanced model for retrofitting creditworthiness research and suggest new research directions.

Growing research interests in energy service companies (ESCOs) has led to an increase in published research spanning the past decade. However, attempts to map global ESCO-related research have been sparse. The aim of this paper is to map the trends in ESCO, to appraise the state of the field in global ESCO research, and to identify current research gaps. This is achieved by conducting a systematic literature review and qualitative analysis of recently published research papers. The study uses bibliographic, co-citation, and keyword analysis to identify recent trends in global ESCO research. The results show that the aspects of ESCO that most studies have focused on are business models, market development, barriers, and drivers of ESCO, stakeholders in ESCO, energy performance contracts, and risk management in ESCO. In addition, the study identifies two main research gaps in ESCO research. These are public-private partnerships in ESCO programs and the development of a harmonised measurement and verification method for energy savings as the research gaps in ESCO studies. The outcomes of this study would be useful for understanding current developments in global ESCO research and to guide the next frontier in the subject. • A systematic literature review on ESCo research published between 2013 and 2023. • ESCo research source Journals and focus areas have been identified. • Business models and market development are top ESCO research focuses. • Highlighted influential journals in ESCO research: Energy Policy, Sustainability. • Future ESCO research trends: EPC risk management and market evaluation. [ABSTRACT FROM AUTHOR]

Economists and other social scientists are increasingly leveraging web data to tackle socio-economic issues and integrate existing sources of information. The data generated by online platforms and websites offer a wealth of multidimensional information with diverse potential applications in economic analysis. Online job advertisement data, for instance, allows us to enhance our understanding of the labour market by providing timely insights into business demand and the skills required for various job positions. This paper examines skill similarities at the regional level in Italy and the variations in skills sought by businesses over time using Lightcast data for 2019 and 2020. In light of this, we use two measures related to the regional skill similarities, an index for the regional skill changes, jointly with some features of the local economy, in order to provide a picture of Italian regions. • We analysed online job ads data to study similarities and changes (between 2019 and 2020) in the skill sets across Italian regions. • We used the ESCO taxonomy to apply an index of by-occupation skill importance. Moreover, we made use of special statistical methods to face sparse data in the computation of regional skill similarity. • We found a different pattern of skill similarity and skill change across regions that partially reflects the North-South divide. • We interpreted these findings by also considering variables expressing the dynamism and innovation of the regions in terms of business turnover and youth entrepreneurship. [ABSTRACT FROM AUTHOR]

The novel generative Artificial Intelligence (AI) developed by OpenAI, i.e., ChatGPT, rised a great interest in both scientific and business contexts. This new wave of technological advancement typically produces deep transformation in the workplace, requiring new skills. However, none of the studies in literature provide quantitative analysis and measures on the impact of ChatGPT on human skills. To address this gap, we collected a database of 616,073 tweets about ChatGPT, and used Natural Language Processing techniques to identify the tasks users requested ChatGPT to perform, and the sentiment related to these tasks. Then, we compared these tasks with a standard taxonomy of skills (i.e., ESCO) using BERT. The results of the study underline that ChatGPT impacts 185 different skills. Moreover, we proposed a model to represent the interaction of the user and ChatGPT, useful to define four skills which are emerging for using this new technology. • We propose a quantitative analysis of the impact of ChatGPT on human skills; • We present a model to represent the interaction between a user and ChatGPT; • We found that ChatGPT impacts 185 different skills; • We identified that four skills are emerging from the interaction with ChatGPT. [ABSTRACT FROM AUTHOR]

Given the ambitious policy target to become net zero carbon by 2050, what role can local authorities play in the decarbonisation of housing? An examination is presented of six local authority energy service models relevant to housing retrofit in Britain. Local authorities have an important role, with local knowledge about housing stock and economic opportunities; they also have relevant planning and governance responsibilities. However, relatively little is known about either the different energy service models adopted for retrofit or their relative effectiveness. Models identified from empirical case study research constitute experimental innovations resulting from constrained finances and competition requirements in public services. They provided (1) energy-efficiency upgrades to public, residential and commercial buildings and/or (2) district heating infrastructure to secure ‘upstream’ resource efficiencies. Findings show that local initiatives provided different retrofit mixes, with differing potential for effective change. The limitations of current models are considered, along with the policy and market changes needed to empower local authorities to contribute systematically to net zero carbon buildings. 'Policy relevance' How can British local authorities organise energy-efficiency retrofit in buildings? Six energy service models are identified which deliver on-site energy-efficiency upgrades and/or area-based efficient heating infrastructure. Reductions to energy demand from these models tend to fall short of the radical changes required by UK net zero 2050 goals. Whilst the energy service models provide examples of local innovation and effectiveness, much more ambitious policy is essential to enable a step change in energy service models for retrofit. Policy and regulatory changes are needed: first, to reform the energy retail market to support energy services geared to reducing demand; and second, to empower local authorities and their partners to scale up whole-area retrofitting, including privately owned buildings.

The competencies standards for the occupational information are expressed by classification of identifies and categorizes skills, competencies, qualifications, and occupations relevant for labor market and education. Based on the knowledge, skills, competencies factor's relationship analysis the metadata profile can be generated. However, there is a problem with visualization of an occupational competence or set of competence related to occupational information. In the paper, some useful dashboard's concept for occupational competence visualization is presented. The proposed dashboard is driven, visualization intensive, interactive, and directly supports data exploration, reporting, and decision making. All competence visualization is based on the ESCO dataset. We want to show how competence's visualization can be helpful during job selection or education path selection. [ABSTRACT FROM AUTHOR]

Recent research suggests that new technologies are important drivers of empirically observed labour market polarisation. Many analyses in the field of economics are conducted to evaluate the changing share of employment in low-skill, medium-skill and high-skill occupations over time. This occupation-based approach, however, may neglect the relevance of specific skills and skill bundles, which potentially can be used to explain the observable patterns of labour market polarisation. This paper adds to the literature in two ways: First, we present the results of an analysis of data on job vacancies rather than the currently employed and, second, we derive occupation-defining skills using network analysis tools. The analysis and tool usage allowed us to investigate polarisation patterns in Austrian vacancy data from 2007 to 2017 and identify changes in the skills demanded in job vacancies in Austria. In contrast to most previous research, we find no evidence for polarisation, but rather a trend towards upskilling. [ABSTRACT FROM AUTHOR]

The U.S. energy service company (ESCO) industry is an example of a private sector business model where energy savings are delivered to customers primarily through the use of performance-based contracts. This study was conceived as a snapshot of the ESCO industry prior to the economic slowdown and the introduction of federal stimulus funding mandated by enactment of the American Recovery and Reinvestment Act of 2009 (ARRA). This study utilizes two parallel analytic approaches to characterize ESCO industry and market trends in the U.S.: (1) a ?top-down? approach involving a survey of individual ESCOs to estimate aggregate industry activity and (2) a ?bottom-up? analysis of a database of ~;;3,250 projects (representing over $8B in project investment) that reports market trends including installed EE retrofit strategies, project installation costs and savings, project payback times, and benefit-cost ratios over time. Despite the onset of a severe economic recession, the U.S. ESCO industry managed to grow at about 7percent per year between 2006 and 2008. ESCO industry revenues were about $4.1 billion in 2008 and ESCOs anticipate accelerated growth through 2011 (25percent per year). We found that 2,484 ESCO projects in our database generated ~;;$4.0 billion ($2009) in net, direct economic benefits to their customers. We estimate that the ESCO project database includes about 20percent of all U.S. ESCO market activity from 1990-2008. Assuming the net benefits per project are comparable for ESCO projects that are not included in the LBNL database, this would suggest that the ESCO industry has generated ~;;$23 billion in net direct economic benefits for customers at projects installed between 1990 and 2008. There is empirical evidence confirming that the industry is evolving by installing more comprehensive and complex measures?including onsite generation and measures to address deferred maintenance?but this evolution has significant implications for customer project economics, especially at K-12 schools. We found that the median simple payback time has increased from 1.9 to 3.2 years in private sector projects since the early-to-mid 1990s and from 5.2 to 10.5 years in public sector projects for the same time period.

This paper evaluates the issue of non-energy benefits within the context of the U.S. energyservices company (ESCO) industry?a growing industry comprised of companies that provide energy savings and other benefits to customers through the use of performance-based contracting. Recent analysis has found that ESCO projects in the public/institutional sector, especially at K-12 schools, are using performance-based contracting, at the behest of the customers, to partially -- but not fully -- offset substantial accumulated deferred maintenance needs (e.g., asbestos removal, wiring) and measures that have very long paybacks (roof replacement). This trend is affecting the traditional economic measures policymakers use to evaluate success on a benefit to cost basis. Moreover, the value of non-energy benefits which can offset some or all of the cost of the non-energy measures -- including operations and maintenance (O&M) savings, avoided capital costs, and tradable pollution emissions allowances-- are not always incorporated into a formal cost-effectiveness analysis of ESCO projects. Nonenergybenefits are clearly important to customers, but state and federal laws that govern theacceptance of these types of benefits for ESCO projects vary widely (i.e., 0-100percent of allowable savings can come from one or more non-energy categories). Clear and consistent guidance on what types of savings are recognized in Energy Savings agreements under performance contracts is necessary, particularly where customers are searching for deep energy efficiency gains in the building sector.

The article presents a way to create university programs that will ease the recognition of qualifications using ISCO and ESCO. A new European model based on the American model for engineers created by the American Association of Engineering Societies is presented. The model has the advantage of being based on internationally recognized standards. It can be applied to higher and professional education, learning outcomes need to be established with the employers based on the ESCO. competences. The proposed model is easy to apply and understandable creating also a hierarchy of skills according to ISCO taxonomy. As the applied models will be created, for example for technical/ economy domain, they will be further presented. The application of these models and the need to recognize the qualifications lead to the need for automatic systems for monitoring and recording all formal, informal or non-formal learning activities throughout an individual’s life and also his experience.

The urgency of developing approaches to the integration of the market of educational services with the labor market through the transition from qualification models to full-fledged competence ones on base of implementation of the "passport of acquired competences" that accompanies a person throughout his/her personality development and professional career is substantiated. Theoretical researches in the field of processing of information about acquired qualifications and competencies as well as tools that are built on their basis are analyzed. The ESCO classifier which unites the labor markets of various EU member states, allows job seekers and employers to operate more effectively with information of result of learning. The main limitations of existing approaches are identified; ways of solving these problems by means of information processing at the semantic level are suggested. Modern information technologies focused on processing distributed heterogeneous Web resources are considered, and the most suitable ones for solving this problem are identified. The principles of developing the information system UkrESCO, which is designed for semantic processing of information resources about acquired qualifications and competencies based on the model of the multilingual skills classifier, competencies, qualifications and occupations of ESCO, relevant for the European market of work, education and vocational training, are theoretically grounded. This system is based on Semantic Web technologies and solutions, namely software agents, Web services and ontologies. The generalized architecture of UkrESCO system and its ontological model are proposed. The scheme of the UkrESCO interaction with external retrieval systems and structured information resources which are based on Wiki-technology is proposed. This scheme provides access to the knowledge of the subject domain and the update of information about the subjects of the labour market. Use of the UkrESCO ontology allows to perform a semantic retrieval on the Web and find both natural language information resources with certain properties as well as ensure the interaction of the UkrESCO with semantically marked resources.

Given the ambitious policy target to become net zero carbon by 2050, what role can local authorities play in the decarbonisation of housing? An examination is presented of six local authority energy service models relevant to housing retrofit in Britain. Local authorities have an important role, with local knowledge about housing stock and economic opportunities; they also have relevant planning and governance responsibilities. However, relatively little is known about either the different energy service models adopted for retrofit or their relative effectiveness. Models identified from empirical case study research constitute experimental innovations resulting from constrained finances and competition requirements in public services. They provided (1) energy-efficiency upgrades to public, residential and commercial buildings and/or (2) district heating infrastructure to secure 'upstream' resource efficiencies. Findings show that local initiatives provided different retrofit mixes, with differing potential for effective change. The limitations of current models are considered, along with the policy and market changes needed to empower local authorities to contribute systematically to net zero carbon buildings. [ABSTRACT FROM AUTHOR]

This article is focused on developing an Energy Service Company (ESCO) risk assessment model for use by energy savings certificates (ESC) market regulators. This model enables market regulators to determine the appropriate point in time for ESCOs to sell their certificates with the aim of minimizing risk as well as maximizing economic gain yet remain motivated for reducing the cost of energy efficiency technologies. To this end, the interactions between an ESCO and other parties (such as suppliers) in the market in addition to the principles of the energy efficiency performance contract are taken into consideration. Then, appropriate probability distributions have been fitted to the stochastic variables to be applied in the Net Present Value (NPV) function, based on sampled company data. A case study considers a one MW Organic Rankine Cycle (ORC) implementation in Iran's petrochemical industry. The finding of this study shows if the ESCO is allowed to sell the certificates during the first seven years as well reduce 30% of the investment cost, the expected Net Present Value over Investment Cost (NPV/I) savings will cover more than one cycle. [ABSTRACT FROM AUTHOR]

The formula of engaging an energy service company (ESCO) in Poland is not a new form of accounting for investments in improving energy efficiency. The results of our survey confirm that many entities still lack sufficient knowledge about this subject. The research problem this paper is concerned with is the conditions of applying the ESCO formula (a model of investment financing with the participation of a specialised company) to support local government units and enterprises in energy-industry project development. For the purpose of this study, the research questions were formulated to analyse of the following issues: the reasons for interest in the ESCO formula and the sources of knowledge about this solution; activities and other factors that can increase or reduce interest in the ESCO formula; services in terms of ESCO formula implementation; the attractiveness of alternative instruments for financing energy industry projects, the benefits of using the ESCO formula and the influence of current and future target groups on ESCO formula development in Poland. This paper, therefore aims to recognise the conditions under which the ESCO formula can be applied by local government units and enterprises implementing energy industry projects in Poland. The research problem was solved using a triangulation of research methods: empirical qualitative research (desk research analysis, individual in-depth interviews, computer-assisted web interview (CAWI) survey, and focus group interviews) and one of the foresight methods (an expert panel). The research revealed that the lack of knowledge amongst local government units and enterprises with regard to the ESCO formula, although not unique to Poland, is insufficient to explain the low level of interest in this solution. One of the key conclusions is the need to educate local government units and enterprises on energy efficiency. This is vital to arouse their interest in the more complex ESCO implementation solutions that they have not yet investigated. Furthermore, by following and analysing the project implementation process in the ESCO formula, we can conclude that the risk generated is primarily on the part of the energy service company itself. For this reason, it is doubtful that energy service companies will invest the equity necessary to develop this challenging market. Based on the research conclusions, we indicate some recommendations that the government and related public institutions should consider in order to boost this market and support ESCO companies.

The aim of the Minsk group of OSCE established on March 1992 was to mediate the peaceful solution of the Armenia-Azerbaijan Nagorno-Karabakh conflict: “From December 1996, the Minsk Group is co-chaired by three states – Russia, the United States and France. But unfortunately the conflict still remains unresolved. Zero progress has been reached so far in the negotiation mediated by the Minsk group. Armenia is not interested in resolution of the conflict. It tends to keep the position of neither fire, nor peace. But in the early April of 2016, as result of subversion of Armenian armed forces the tension in the contact line of troops which was followed by numerous human causalities, once more confirmed that remaining the conflict frozen might would always cause the intense war.” But the international mediators for some reason wouldn’t demonstrate any unequivocal position upon this case although they support the territorial integrity of Azerbaijan. It is expected that the members of the Minsk group of the OSCE, as well as global community would take precise measures to solve this problem fairly. Failure to adhere to the principle of justice would draw to crisis not only the region, but also worldwide. The reality is that, the USA, Russia and France wouldn’t bring the aggressor down as a neither permanent member of the UN SC, nor as a member states. It is a painful and thought-provoking truth, but it is still the case.

The article presents a way to create university programs that will ease the recognition of qualifications using ISCO and ESCO. A new European model based on the American model for engineers created by the American Association of Engineering Societies is presented. The model has the advantage of being based on internationally recognized standards. It can be applied to higher and professional education, learning outcomes need to be established with the employers based on the ESCO. competences. The proposed model is easy to apply and understandable creating also a hierarchy of skills according to ISCO taxonomy. As the applied models will be created, for example for technical/ economy domain, they will be further presented. The application of these models and the need to recognize the qualifications lead to the need for automatic systems for monitoring and recording all formal, informal or non-formal learning activities throughout an individual's life and also his experience. [ABSTRACT FROM AUTHOR]

Although district heat network schemes provide a pragmatic solution for reducing the environmental impact of urban energy systems, there are additional benefits that could arise from servicing electric vehicles. Using the electricity generated on-site to power electric vehicles can make district heating networks more economically feasible, while also increasing environmental benefits. This paper explores the potential integration of electric vehicle charging into large-scale district heating networks with the aim of increasing the value of the generated electricity and thereby improving the financial feasibility of such systems. A modelling approach is presented composed of a diverse range of distributed technologies that considers residential and commercial electric vehicle charging demands via agent-based modelling. An existing district heating network system in London was taken as a case study. The energy system was modelled as a mixed integer linear program and optimised for either profit maximisation or carbon dioxide emissions minimisation. Commercial electric vehicles provided the best alternative to increase revenue streams by about 11% against the current system configuration with emissions effectively unchanged. The research indicates that district heating network systems need to carefully analyse opportunities for transport electrification in order to improve the integration, and sustainability, of urban energy systems. • Framing of a modern district energy system as a mixed integer linear program. • Agent-based modelling used to simulate electric vehicle charging demands. • Electric vehicle charging in a district heating network simulated for a London area. • District heating integration with electric vehicles improves revenues by 11%. [ABSTRACT FROM AUTHOR]

This article is focused on developing an Energy Service Company (ESCO) risk assessment model for use by energy savings certificates (ESC) market regulators. This model enables market regulators to determine the appropriate point in time for ESCOs to sell their certificates with the aim of minimizing risk as well as maximizing economic gain yet remain motivated for reducing the cost of energy efficiency technologies. To this end, the interactions between an ESCO and other parties (such as suppliers) in the market in addition to the principles of the energy efficiency performance contract are taken into consideration. Then, appropriate probability distributions have been fitted to the stochastic variables to be applied in the Net Present Value (NPV) function, based on sampled company data. A case study considers a one MW Organic Rankine Cycle (ORC) implementation in Iran’s petrochemical industry. The finding of this study shows if the ESCO is allowed to sell the certificates during the first seven years as well reduce 30% of the investment cost, the expected Net Present Value over Investment Cost (NPV/I) savings will cover more than one cycle.

Skills management is one of the key factors to address the increasing competitiveness among different companies. Suitable knowledge representation and approach for matching skills and competences in job vacancies and candidate profiles can support human resources management automation through suitable matching and ranking services. This paper presents an approach for matchmaking between skills demand and supply through skill profiles enrichment and matching supply and demand profiles over multiple criteria. This work builds upon methods for profile modeling, information enrichment and multi-criteria matching. The main contribution of this work is a methodology for harmonization and enrichment of heterogeneous profile models and skill set description by making use of the standard ESCO ontology. Secondly, an algorithm is proposed for similarity matching across multi-criteria for discovering set of profiles that best fits the job description criteria. A prototype web-based system has been developed to implement the proposed approach and deployed online. The system has been tested with real IT jobs related dataset and validated against relevance scores provided by human experts. Experimental results show consistent correspondence between the similarity ranking scores produced by the system and scores provided by the human users. [ABSTRACT FROM AUTHOR]

The US energy services company (ESCO) industry is an example of a private-sector business model that delivers energy savings to customers primarily through the use of performance-based contracts. US ESCO projects garner significant incremental annual savings: approximately 1% of total US commercial building consumption in 2014. From 2000 to 2011, the industry experienced year over year growth; however, based on information drawn from interviews with ESCO executives conducted in late 2015, the authors find that from 2012 to 2014, ESCO industry revenues did not increase. While public and institutional market sectors accounted for 85% of industry revenue in 2014, consistent with previous research findings, the share of revenue from performance contracting increased to 74% in 2014, as compared to 69% share reported for 2011 and 2008. The revenue numbers between 2011 and 2014 are not fully comparable, because a few ESCOs that were subsidiaries of larger companies had undergone reorganization and some categories of revenue reported in 2011 were not included for 2014. Other factors that may have contributed to the recent revenue trend include the following: (1) increased competition from companies not historically defined as an ESCO (e.g. mechanical contractors), (2) uncertainty among some potential customers about committing to long-term performance contracts, and (3) reduction of performance contracting’s perceived benefit of hedging energy price increases and variability due to customer expectations of continued low and less volatile energy prices. [ABSTRACT FROM AUTHOR]

The comprehensive retrofit of residential buildings has significant potential to reduce carbon emissions and provide additional heath and economic benefits. However, in countries such as the UK, much of this potential is yet to be realised. This paper shows how the concept of ‘business models’ (BMs) can be a powerful tool for understanding the challenge of improving energy performance and reducing carbon emissions in residential buildings. Through a review of contemporary literature and 18 semi-structured interviews, the paper describes and compares five distinct BM archetypes: the atomised market model, market intermediation model, one-stop-shop, energy services agreement and managed energy services agreement. These models range from the traditional approach to highly innovative energy service contracts. The paper further illustrates how the UK and EU market for retrofitting residential buildings is beginning to trial the more innovative BMs. These emerging BMs are characterised by increasingly industrialised processes and integrated supply chains, a holistic customer offering and single point of sale, long-term energy-saving performance contracts (ESPC) and integral project finance. It is argued that whilst the traditional BM is suitable for the implementation of single or piecemeal energy-saving measures, BM innovation will be required to meet the UK’s ambitious climate change targets. [ABSTRACT FROM AUTHOR]

Abstract In this paper is the first attempt to structure energy management in buildings retrofitted by Energy Service Company to maintain designed energy performance level. The energy performance of multifamily buildings is investigated. More specifically, ex-post energy data of the buildings are analysed to see the dynamics of the energy performance. The analysis is based on a unique dataset that combines data from energy meters and energy monitoring system. The results indicate that multifamily buildings with proper energy management keep designed energy efficiency level meanwhile providing in the energy performance contract guaranteed indoor temperature in space heating season. [ABSTRACT FROM AUTHOR]

In Energy Performance Contracting (EPC) projects, Energy Service Companies (ESCOs) often provide guarantees on the energy savings of proposed retrofit measures based on a simplified engineering method. In order to assess the risk of saving shortfalls, there is a need to develop an evaluation method based on the probabilistic approach. This study focuses on a proposed probabilistic approach to evaluate the performance risks of common lighting retrofit measures such as replacement of existing lighting, installation of daylight-linked lighting controls and occupancy-based controls. The proposed approach considers the variations in the influential factors affecting energy performance, including daylight availability, occupancy rates, lamp conditions and lighting use patterns. Empirical data is used to develop the probability distribution functions of those influential factors. A hypothetical 40-storey office building with typical design features (such as regularly shaped open plan) in Hong Kong was modeled using EnergyPlus to demonstrate the application of this probabilistic approach. The results indicate that the variations in actual energy savings can be substantial in lighting retrofit projects, ranging from 1,267,000 kWh (43% of pre-retrofit consumption) to 1,927,000 kWh (65% ditto) with 90% statistical significance, posing risk on the achievement of guarantee savings in an EPC project setting. [ABSTRACT FROM AUTHOR]

In recent years, the manufacturing sector has been responsible for nearly 55 % of total energy consumption, inducing a major impact on the global ecosystem. Although technological advances are increasing its sustainability, zero-emission and fuel-efficient manufacturing is still considered a utopian target. Moreover, a primary feature of Industry 4.0 is the digitization of production processes, which offers the opportunity to optimize energy consumption. However, given the speed and often unpredictability with which innovation manifests itself, tools capable of measuring the impact that technology is having professions are still being designed. In light of the above, in this article we present the Worker Profiler, a software designed to map the skills currently possessed by workers, identifying misalignment with those they should ideally possess to meet the renewed demands that digital innovation and environmental preservation impose. In more detail, the authors inferred the key technologies and skills for the topic, isolating those with markedly increasing patent trends and identifying green and digital enabling skills and occupations. Thus, the software was designed and implemented at the user-interface level. The output of the self-assessment is the definition of the missing digital and green skills that enable the definition of a customized retraining strategy. • Manufacturing, consuming 55% energy, needs transformation for sustainability in industry. • Industry 4.0 and the digitization of process could help in realizing the objective • Human role in digital revolution vital for sustainability, but lack of skill-gap tools hinders green & digital competencies. • Worker profiler assesses skills, finds gaps in digital and green expertise, and tailors training plans accordingly. • The tool proved to be user-friendly and the methodology followed easily adaptable to other contexts and goals [ABSTRACT FROM AUTHOR]

Over the past twenty years, many countries have been looking for alternative procurement models in providing public sector energy efficiency (EE) projects because of high public sector debt and budget deficit. These projects have traditionally been procured and financed by the public sector. While the majority of EU funding resources will be realized in more traditional, purely grant-funded procurement models, a new Investment Plan for Europe for the programming period 2014−2020 has focused on supporting higher private sector involvement in infrastructure investments for achieving the EU Strategy 20/20/20 goals. Seeing that the fundamental purpose of investing in infrastructure is investing in providing public services, the involvement of the private sector is only possible through some alternative procurement models. In these initiatives both the public and the private sector retain their own identities and responsibilities, while their co-operation is based on clearly defined divisions of tasks and risks. The main objective of this paper is to assess the effectiveness of blending alternative procurement models with available EU funding mechanisms in EE sector by applying case study simulation. The findings will show the effectiveness of alternative options and the use of blending solutions in EE investments.

The barriers to energy savings in institutions and private homes are well known and include people's lack of interest, awareness, knowledge and human and financial capacity. Experiences made in several countries show that EPC-energy performance contracting-may be used for overcoming many of these barriers. A typical EPC project is delivered by an energy service company (ESCO) and the contract is accompanied with a guarantee for energy savings. EPC is increasingly taken in use in the professional market (firms and the public sector), but is less common in the residential sector market. It has been suggested that there are several barriers for using EPC in the domestic sector such as the uncertainty involved in estimating forthcoming reductions in private consumption. In this paper, we present the results from a pilot project on the use of EPC in a housing cooperative in Oslo. The project was initiated and observed by the researchers. The research followed a transdisciplinary methodology in that it was conducted by both researcher and practitioner (co-authors) in close collaboration with members of the housing cooperative and the ESCOs, who also contributed to the interpretation of results. We document the process in terms of why the Board decided to join the EPC pilot, the call for offers from ESCOs who guaranteed that purchased annual energy would be reduced by one third, the responses to and negotiations of the offer from the ESCO who became contracted in the initial phase and up to the moment when the General Assembly finally decided to not invest in the proposed energy saving measures. We find that the residents not only had limited interest in energy savings but also lacked confidence in the EPC process. This contributed to the outcome. We discuss the findings in relation to the barriers to using EPC among housing cooperatives. We highlight the need for more knowledge about the client side for understanding how barriers may be overcome. Three specific recommendations for how EPC may successfully be employed among housing cooperatives are suggested as follows: (i) include refurbishment and not only energy savings in the EPC, (ii) identify the residents' needs in an early phase and (iii) communicate the EPC principle to the residents throughout the process. [ABSTRACT FROM AUTHOR]

This study proposes an Energy Service Company (ESCO) business model to which Certified Emission Reduction (CER) is applied mainly for guaranteed savings. To verify the effectiveness of this ESCO business model, option theory is used. Notably, along with call and put options, which are appropriate for profit structure evaluation of existing guaranteed savings contract, an up and knock-out option was used to analyze the option of securing profit from CER. Based on this analysis, the values of the guarantee acquired by an energy user from the change in the amount of energy savings and the values of an ESCO's right to profit from energy savings and CER, were calculated. Through these valuations, the profit sharing ratio between energy users and the ESCO was estimated. When the model proposed in this paper was applied to a project case, the profit sharing ratio was 16.37%. The model proposed in this paper is useful for motivating ESCOs to save more energy during operating periods by effectively using profit from CER. Additionally, this model will contribute to the expansion of ESCO market and the effectiveness of energy performance projects in Korea. [ABSTRACT FROM AUTHOR]

The object of this research is an economic analysis of trigeneration systems (or Combined Cooling, Heat and Power - CCHP) through a calculation model developed for applications in the field of large retail sector. Particular attention has been given to the validation of Third-Party Financing (TPF) projects. The analysis is carried out in comparative form, considering all the existing variants of the Energy Performance Contract and the incentive mechanisms for trigeneration plants. The study is based on an econometric model of calculation for CCHP systems whose results are validated on a case study described in detail. The input data of the simulation come from an energy audit platform developed specifically for the analysis of typical HVAC systems of large retail sector. The study results consist of 50 scenarios of TPF projects. They highlight the economic advantage in the trigeneration plants management for both parties (ESCo and customer) and make it possible to determine the options of contract needed to verify the feasibility of TPF projects.

Improving energy efficiency is a cornerstone in climate change mitigation, and energy services are portrayed as a promising market-based approach to achieve this. This paper examines the barriers to, and driving forces needed for, the implementation of energy services from the perspective of Swedish local and regional energy companies. This includes an analysis of the resources needed in three phases of energy service implementation, i.e., development, sales, and deployment. The results indicate a supply-side interest in providing energy services, with the major challenges being related to (a) intra-organizational issues such as a lack of strategic direction and intent and (b) a perceived lack of knowledge, interest, and trust on the part of potential energy service customers. The paper concludes with managerial and policy implications on how an increased focus and impact of energy service can be achieved among local and regional companies. [ABSTRACT FROM AUTHOR]

Energy service companies (ESCOs) are often seen as a focal mechanism to improve energy efficiency. However, ESCOs have not met all the expectations which have been loaded on them and their diffusion has been slower than expected. This paper focuses on analysing the development of the ESCO sector in Finland and identifying the key factors-both drivers and barriers-that are influencing the diffusion of Finnish ESCO market. We will do this with the help of a qualitative Delphi study. The results indicate that ESCOs are still understood and known rather poorly among potential customers. Also, the current financial situation and high transaction costs in comparison to potential savings were seen as challenges among the panellists whereas active information sharing was seen as a factor that would foster the ESCO business. However, from the point of view of reaching the energy efficiency targets, the panellists did not emphasize the role of ESCOs over several other energy service providers. [ABSTRACT FROM AUTHOR]

Replacement of air-cooled chillers with water-cooled chillers for air-conditioning plants in existing buildings can yield a significant amount of energy savings, especially in a sub-tropical climate. However, due to variations in weather conditions and building operation patterns, the amount of actual energy saving is often uncertain in these retrofits. These uncertainties impose a risk of saving shortfalls when Energy Service Companies (ESCOs) guarantee building owners for a certain amount of energy savings in Energy Performance Contracting (EPC) projects. This study presents a probabilistic approach to estimating a range of possible energy savings with the associated confidence levels for chiller replacement in existing buildings, taking into account the annual variations in the influential parameters affecting energy savings. The influential factors include building cooling loads, system control and operation systems, as well as chiller plant characteristics. The proposed approach involves: the use of correlation analysis for identifying influential parameters; EnergyPlus for simulating energy use of chiller plant; and a Monte Carlo approach for simulating the probability of post-retrofit energy savings. A commercial building where the air-cooled chillers were replaced with water-cooled chillers is used to illustrate the proposed approach. Results show that the variations in annual energy savings for chiller replacement projects can be estimated with a defined degree of certainty. In the case study project, the possible annual energy savings during the post-retrofit period range from 1,149,000 kWh (37.6% of baseline consumption) to 1,504,000 kWh (49.2% of ditto) at 90% statistical significance. The risk mitigation measures for this type of energy retrofit are discussed as well. [ABSTRACT FROM AUTHOR]

Energy services play a key role in increasing energy efficiency in the industry. The key actors in these services are the local and regional energy companies that are increasingly implementing energy services as part of their market offering and developing service portfolios. Although expectations for energy services have been high, progress has so far been limited, and many companies offering energy services, including energy companies, are experiencing difficulties in implementing energy services and providing them to the market. Overall, this research examines what is needed for local and regional energy companies to successfully implement energy services (and consequently provide them to the market). In doing this, a two-stage process is used: first, we identify key activities for the successful implementation of energy services, and second, we aggregate the findings to the business model level. This research demonstrates that to succeed in implementing energy services, an energy company may need to renew parts or all of its existing product-based business model, formulate a new business model, or develop coexisting multiple business models. By discussing two distinct business model innovation processes, this research demonstrates that there can be different paths to success. [ABSTRACT FROM AUTHOR]

Hydrogen energy is an important alternative sustainable energy that can be used to reduce the impact of climate change. Its higher costs, as compared to conventional fossil fuels, impede its commercial applications. Therefore, investigating other potential business models is important. Dark fermentative hydrogen production can utilize non-economic organic substrate, such as wastewater, as the input material. Thus, such waste material becomes a useful potential energy source. This study investigates the commercialization of dark fermentation technology applications, and proposes that an ESCO be introduced as a key link in the production and sales business model of biohydrogen. Essentially, the ESCO would assume the role of hydrogen producer and work together with soft drink manufacturers; provide sewage treatment services using the organic material in the wastewater as the input material for dark fermentative hydrogen production; and sign long-term energy provision and service contracts with client users, such as the hydrogen stations that use the H 2 and CH 4 produced to guarantee successful sales. In such business models, ESCOs can obtain higher returns on investment by reducing the costs of hydrogen fermentation, purification, and storage through additional equipment purchases. [ABSTRACT FROM AUTHOR]

This paper seeks to determine the value of Energy Service Company (ESCO) contracts based on the guaranteed savings contracts, which are relatively widely used among ESCO contract models. A framework is proposed based on the collar option model to qualitatively calculate the profit distribution ratio between energy users and the ESCO. The profit distribution model is defined with the guaranteed and target savings, changes in energy cost reductions, and volatility. The model determines a profit distribution ratio such that the energy user offers the ESCO profits equivalent to the value of the guarantee. The model is evaluated using a case study. The model suggested in this study is expected to resolve previous issues with making decisions based on past experiences, as the profit distribution ratio is determined objectively. Moreover, it is possible to effectively assess various profit structures in guaranteed savings contracts according to changes in the guaranteed and target savings. Ultimately, this model is expected to assist in revitalizing the Korean ESCO market. [ABSTRACT FROM AUTHOR]

The article investigates the features of alternative financing options for the implementation of energy saving measures. A comparative analysis of various financial instruments was held.. Guidelines for choosing the financing schemes for energy efficiency were formed. [ABSTRACT FROM AUTHOR]

Compared with conventional energy retrofit projects, Energy Performance Contracting (EPC) projects present a different risk picture to the contracting parties as its primary focus is to deliver promised energy savings to building owners (hosts). This study aims to identify the key risks inherent in EPC projects, and investigate the hosts’ concerns on the use of EPC, as well as propose practical measures to enhance the wider adoption of EPC. Two separate questionnaire surveys were conducted with respondents comprising ESCOs ( n = 34) and hosts ( n = 168) in Hong Kong. Results indicate that the key risks to ESCOs are possible payment default of hosts after installation, uncertainty of baseline measurement, and increase in installation costs in EPC projects. For hosts, their primary concerns in considering the use of EPC include possible long payback periods, project complexities and repayment ability. In addition, the respondents agree with three practical measures to enhance the adoption of EPC in future, including the promotion of successful projects, modification of government procurement practices, and government's backup of loans. The findings of this study provide useful pointers to key stakeholders of EPC projects for harnessing their risk perceptions and mitigating their concerns on this procurement approach. [ABSTRACT FROM AUTHOR]