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Including non-energy benefits in investment calculations in industry - empirical findings from Sweden
Linköping University, Department of Management and Engineering, Energy Systems. Linköping University, The Institute of Technology.
Linköping University, Department of Management and Engineering, Energy Systems. Linköping University, The Institute of Technology.
Energimyndigheten, Sweden.
Linköping University, Department of Management and Engineering, Business Administration. Linköping University, Faculty of Arts and Sciences.
2014 (English)In: ECEEE Industrial Summer Study, 2014: Retool for a competitive and sustainable industry, 2014, 711-719 p.Conference paper, Published paper (Refereed)
Abstract [en]

The threat of increased global warming accentuates the need for reducing anthropogenic emissions of GHG (Green House Gases). Improved energy efficiency in industry represents one of the most important means of reducing this threat. Furthermore, improved energy efficiency and cutting energy costs may be key factors for individual enterprises’ long term survival and success because of increased environmental legislation and rise of energy prices. Despite the fact that extensive potentials for improved energy efficiency exists in industry, a large part remains unexploited explained by the existence of various barriers to energy efficiency. The research on barriers is well-developed and regards the non-investment of cost-effective technical measures that improve energy efficiency. In these studies, the actual investment decision is the analysing variable. However, if one extends the system boundary, there are indications that not only the actual reduction of energy cost but also other potential benefits should be taken into account in energy-efficiency investments. Including such factors, named non-energy benefits (NEBs), in the investment calculation mean the investment may have a considerably shorter pay-back period. The aim of this paper is to study if NEBs are considered and measured in energy-efficiency related investments in Swedish industry, and to study factors inhibiting the inclusion of NEBs in investment calculations. Results of this study indicate that NEBs seems to exist in the Swedish industrial companies participating in this study, but only few of the mentioned NEBs were included in investment calculations, explained by among other factors, the hidden cost of monetizing the NEB.

Place, publisher, year, edition, pages
2014. 711-719 p.
Series
Industrial Summer Study proceedings, ISSN 2001-7979, E-ISSN 2001-7987 ; 2014
Keyword [en]
non-energy benefits (NEBs), investment decision-making, barriers, energy efficiency investments, multiple-energy benefits
National Category
Energy Systems
Identifiers
URN: urn:nbn:se:liu:diva-110580ISBN: 9789198048247 (print)ISBN: 9789198048254 (electronic)OAI: oai:DiVA.org:liu-110580DiVA: diva2:746789
Conference
ECEEE 2014, Industrial Summer Study: Retool for a competitive and sustainable industry, June 2-5, 2014, Arnhem, The Netherlands
Projects
Välgrundade energirelaterade investeringsbeslut - hur, och på vilka grunder kan energi bli en strategisk fråga för svensk industri
Funder
Swedish Energy Agency
Note

Finansierat av Energimyndigheten och Institutionen för ekonomisk och industriell utveckling, Linköpings universitet. 

Available from: 2014-09-15 Created: 2014-09-15 Last updated: 2017-02-08Bibliographically approved
In thesis
1. The Non-Energy Benefits of Industrial Energy Efficiency: Investments and Measures
Open this publication in new window or tab >>The Non-Energy Benefits of Industrial Energy Efficiency: Investments and Measures
2016 (English)Licentiate thesis, comprehensive summary (Other academic)
Abstract [en]

Improved industrial energy efficiency is viewed as an important means in the reduction of CO2 emissions and climate change mitigation. Various energy efficiency measures for improving energy efficiency exists, but even evaluated as cost-effective, there seems to be a difference between the energy efficiency measures that theoretically could be undertaken and which measures that actually are realised. On the other hand, industrial energy efficiency measures might yield extra effects, denoted as non-energy benefits, beyond the actual energy savings or energy cost savings.

Based on interviews and a questionnaire, results showed that the Swedish industrial firms studied had observed various non-energy benefits. However, few of the non-energy benefits observed were translated into monetary values and included in investment calculations. Results indicated that this non-inclusion could be explained by lack on information on how to measure and monetise the benefits, but even if not translated into monetary values, some of the non-energy benefits were sometimes used qualitatively in investment decisions. The utilisation of the benefits seemed to depend on the type and the level of quantifiability among the perceived benefits.

This thesis has also explored energy efficiency measures and non-energy benefits for a specific industrial energy-using process – compressed air. A literature review on energy efficiency in relation to compressed air systems revealed a large variation in which measures that could be undertaken to improve energy efficiency. However, few publications applied a comprehensive perspective including the entire compressed air system. Few non-energy benefits of specific energy efficiency measures for compressed air systems were identified, but the study provided insights into how non-energy benefits should be studied. This thesis suggests that energy efficiency and non-energy benefits in compressed air systems should be studied on specific measure level to enable the observation of their effects. However, the studies also addressed the importance of having a systems perspective; the whole system should be regarded to understand the effects of energy efficiency measures and related non-energy benefits.

Place, publisher, year, edition, pages
Linköping: Linköpings universitet, 2016. 64 p.
Series
Linköping Studies in Science and Technology. Thesis, ISSN 0280-7971 ; 1760
Keyword
Industrial energy efficiency, energy efficiency measures, energy efficiency investments, non-energy benefits, compressed air
National Category
Energy Systems
Identifiers
urn:nbn:se:liu:diva-131831 (URN)10.3384/lic.diva-131831 (DOI)9789176856727 (ISBN)
Presentation
2016-10-28, ACAS, A-huset, Campus Valla, Linköpings universitet, Linköping, 12:29 (Swedish)
Opponent
Supervisors
Funder
Swedish Energy Agency
Available from: 2016-11-09 Created: 2016-10-10 Last updated: 2017-05-04Bibliographically approved

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Nehler, ThereseThollander, PatrikOttosson, Mikael

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