Published May 5, 2022 | Version 1
Journal article Open

The Ring Fencing Mechanism: a case study of innovative self-financing approach for energy efficiency upgrades

Creators

  • 1. International Energy Research Centre, University College Cork, Cork, T12R5CP, Ireland

Description

This paper introduces an enhanced energy auditing process including a ring-fencing mechanism for the selection of energy efficiency measures considering a multi-stage planning of the energy retrofitting project. The proposed ring-fencing approach enables SMEs to overcome the barrier of lack of capital for the implementation of energy efficiency measures by implementing first no-cost measures and only after that energy savings are accumulated considering the installation of low-cost, medium-cost and finally high-cost measures. The advantages of the proposed methodology are illustrated by means of three case studies, where a variety of energy efficiency measures were first identified throughout the auditing process involving three different SMEs, then most effective measures were selected and scheduled to be implemented according to a multi-annual plan while considering budget and operational constraints. The results of the pilot studies show that the business owners have improved their decision-making with respect to energy efficiency upgrades by engaging in the auditing process and accepting the recommendations about the suggested interventions to maximize financial (and environmental) benefits.

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Additional details

Cites
10.1007/s12053-020-09887-z (DOI)
10.1016/j.enpol.2012.05.053 (DOI)
10.2172/1171534 (DOI)
10.1016/j.jclepro.2014.12.040 (DOI)
10.1007/s12053-014-9261-y (DOI)
10.1007/s12053-012-9157-7 (DOI)
10.1016/j.jclepro.2016.11.126 (DOI)
10.1007/s12053-015-9335-5 (DOI)
10.1007/s12053-009-9056-8 (DOI)
10.1016/0301-4215(94)90138-4 (DOI)
10.1016/j.procir.2014.07.057 (DOI)
10.1016/j.procir.2015.10.006 (DOI)
10.1088/1757-899X/463/3/032020 (DOI)
10.3303/CET2186128 (DOI)
10.1016/j.enbuild.2010.09.024 (DOI)
10.1007/s12053-018-9647-3 (DOI)
10.1007/s12053-021-09949-w (DOI)
10.1007/s12053-020-09839-7 (DOI)
10.1016/j.jclepro.2017.01.068 (DOI)
10.1016/j.procir.2015.01.011 (DOI)
10.1016/j.energy.2005.10.014 (DOI)
10.1007/s12053-015-9409-4 (DOI)
10.1016/j.energy.2005.10.010 (DOI)
10.1016/j.rser.2009.11.013 (DOI)
10.1016/j.jclepro.2017.03.033 (DOI)
10.1016/j.renene.2013.06.011 (DOI)
10.1016/j.cor.2015.01.013 (DOI)
10.1016/j.jclepro.2015.04.073 (DOI)
10.1016/j.energy.2011.11.005 (DOI)
10.1362/0267257053779091 (DOI)
10.1016/j.enpol.2009.07.056 (DOI)
10.1016/j.energy.2009.08.014 (DOI)

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