Abstract
In this chapter some difficulties for the financing of the energy efficiency measures are illustrated together with some juridical tools, which may support and facilitate the funding of the energy efficiency interventions.
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Notes
- 1.
Directive No. 2006/32/CE has introduced the regulation of ESCO in the EU. The ESCO is defined as “a natural or legal person that delivers energy services and/or other energy efficiency improvement measures in a user's facility or premises, and accepts some degree of financial risk in so doing. The payment for the services delivered is based (either wholly or in part) on the achievement of energy efficiency improvements and on the meeting of the other agreed performance criteria”. This directive has been implemented in Italy by legislative decree No. 115/2008 which has introduced the concept of the ESCO (the Energy Service Company) (which incurs in a certain degree of financial risk) and ESPCo (the Energy Service Provider Company) (which does not incur any risk).
- 2.
The legislative decree No. 115/2008 implements directive No. 2006/32/EC on energy end-use efficiency and energy services and repealing Council Directive No. 93/76/EEC. Please also see whereas (15) of directive No. 2012/27/EU according to which the public sector constitutes an important driver to stimulate market transformation towards more efficient products, buildings and services.
- 3.
Converted into law by law No. 90/2013.
- 4.
Please see article 1, paragraph 139 of law 27 December 2013, No. 147 named Legge di stabilità 2014 which provides for an extension of the duration of the tax deductions.
- 5.
According to the Ministerial Decree and the Rules for the applicability of the Ministerial Decree dated 28 December 2012 released by GSE on 4 December 2013 (formerly release dated 9 April 2013) the ESCOs relevant for the conto termico are (i) the entities that are certified UNI CEI 11352 (ii) entities whose articles of association provide the supply of energy services and that are included in the list of Energy Service Companies (Società di Servizi Energetici) currently managed by GSE and (iii) the entities indicated in article 2, first paragraph of legislative decree No. 115/2008. The above mentioned entities provide energy services or any other instruments for the improvement of energy efficiency in the plants or areas of the client accepting a financial risk. If the responsible person is the ESCO, the energy contract executed by the ESCO together with any financing agreement made available by third party, which evidences the incurred expenses, must be filed with GSE.
- 6.
In case of leasing, the invoices must be issued to the leasing company and a copy of the leasing agreement must be delivered to the GSE S.p.A.
- 7.
Please consider that the current version of the agreement for receiving the conto termico incentive has enhanced the possibility to finance the energy efficiency interventions. The current version of the agreement for receiving the conto termico incentive is a true improvement if compared to the previous release of the agreement, which provided that “the Responsible Person is not allowed to create a pledge over the incentives (matured or to be matured) or to assign the account receivables. It is also not allowed to grant a special mandate with third party or to use any kind of delegation”.
- 8.
Specific rules are applicable to high yield cogeneration plants.
- 9.
Originally under article 4 of the Ministerial Decree 20 July 2004, electric and gas distribution companies, which had more than 100,000 clients, were eligible and qualify for the obligation to gain the energy savings from the TEEs system; thereafter the threshold has been reduced to 50,000 clients.
- 10.
Article 16, paragraph 4 of legislative decree No. 115/2008.
- 11.
Article 2, letter (l) of legislative decree No. 115/2008 defines the contratto di rendimento energetico.
- 12.
Please see article 3, letter (k) of directive No. 2006/32/EC.
- 13.
Please see above for more details.
- 14.
In case of conto termico incentive the ESCO must enter into a contract for the energy performance with the public entities and for the interventions provided for by article 4, second paragraph of Ministerial Decree 28 December 2012. The EPC contract must comply with the requirements set out by the law provisions, lacking which the energy efficiency intervention can lose the conto termico incentive.
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Dell’Atti, S. (2014). Funding Energy Efficiency Measures. In: Riva Sanseverino, E., Riva Sanseverino, R., Vaccaro, V., Zizzo, G. (eds) Smart Rules for Smart Cities. SxI - Springer for Innovation / SxI - Springer per l'Innovazione, vol 12. Springer, Cham. https://doi.org/10.1007/978-3-319-06422-2_7
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DOI: https://doi.org/10.1007/978-3-319-06422-2_7
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