The effect of ESCO s on carbon dioxide emissions

WenShwo Fang and Stephen Miller

Applied Economics, 2013, vol. 45, issue 34, 4796-4804

Abstract: Proponents of energy service companies ( ESCO s) argue that these firms provide a crucial instrument for delivering improved energy efficiency in public and private sectors, thus contributing to carbon dioxide (CO 2 ) emission reduction around the world. Do ESCO s reduce CO 2 emissions? To answer this question, we develop an estimating equation, which approximates the IPAT model, from a simple model of production. We estimate a dynamic panel of 129 countries over the period 1980--2007 to show that the ESCO s effectively reduce CO 2 emissions and that this effect increases over time. These findings also prove robust to the inclusion of a set of control variables, different dates of the first ESCO and the Kyoto Protocol. Finally, we discuss energy policy implications.

Date: 2013
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Working Paper: The effect of ESCOs on carbon dioxide emissions (2012)
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DOI: 10.1080/00036846.2013.804172

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