Result-oriented investment management system for targeted energy efficiency programs

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Authors:

O. M. Kovalko, Cand. Sc. (Econ.), Assoc. Prof., orcid.org/0000-0002-4132-8438, National Joint-Stock Company “NaftoGaz of Ukraine” Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

N. M. Kovalko, Cand. Sc. (Jurid.), Assoc. Prof., orcid.org/0000-0001-5550-9267, Taras Shevchenko National University of Kyiv, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

O. V. Novoseltsev, Corresponding Member of the National Academy of Sciences of Ukraine, Dr. Sc. (Tech.), Senior Research Fellow, orcid.org/0000-0001-9272-6789, Institute of Engineering Thermophysics, Kyiv, Ukraine, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Abstract:

Purpose. Improving the methodology for managing investments in a targeted energy efficiency program to better attract investment and achieve optimal results at each stage of implementation.

Methodology. Systemic approach has been applied in order to coordinate various stages of developing and implementing the programs, which is based on simulations of iterative procedures of optimal investment management for such programs, and is realized on the basis of the relative organizational and functional autonomy of the programs participants.

Findings. A model is developed that can simulate investment management in energy efficiency; ranking of energy efficiency projects are thus carried out, investment needs are accurately defined, and unanticipated expenditures can be estimated and planned for. The model also provides scenarios for optimal structure, levels of investment, variable interest rates, and use of other economic incentives.

Originality. Methodological approach to increasing the investment management efficiency for targeted programs is improved by integrating in a unified systemic model the financial, economic and energy balances of investment projects submitted to the program by business entities, with subsequent coherent optimization of the parameters of their interaction on the basis of relative organizational and functional autonomy of the entities.

Practical value. The developed simulation model is a powerful tool to support management decisions on identifying and purposeful providing of investments to the most effective directions of targeted programs implementation.

References.

1. Kovalko, O. M., Novoseltsev, O. V. and Evtukhova, T. O., 2014. Introduction to the Energy Efficiency Theory of Multilevel Systems: Methods and Models of Energy Management in Housing and Municipal Economy. Kyiv: Institute of Engineering ThermoPhysics, Ukraine.

2. Cabinet of Ministers of Ukraine, 2015. The National Action Plan on Energy Efficiency for the period 2020 (2015), Decree of Cabinet of Ministers of Ukraine of 25.11.2015 № 1228-r.

3. Naceur, K. B., 2015. Market Trends and Medium-Term Prospects. Paris: IEA Publications.

4. Skopenko, N. S., 2014. Methodical approaches to the determination of expediency and efficiency of integration interaction of business entities. Stratehiya ekonomichnoho rozvytku Ukrayiny, 34, pp. 163‒170.

5. Schiller, S. R., 2012. Energy Efficiency Program Impact Evaluation Guide. Golden, Colorado: National Renewable Energy Laboratory [pdf]. Available at: <https://www.energy.gov/sites/prod/files/2013/11/f5/emv_ee_program_impact_guide.pdf> [Accessed 17 March 2017].

6. Shvets, V. Ya., Rozdobutko, E. V. and Solomina, G. V., 2013. Aggregated Methodology of Multicriterion Economic and Ecological Examination of the Ecologically Oriented Investment Projects. Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu, 3, pp. 139‒144.

7. Fresard, L., Hoberg, G. and Phillips, G., 2015. Innovation Activities and the Incentives for Vertical Acquisitions and Integration. Baltimore: University of Maryland.

8. Swanson, S., 2012. Regulatory Mechanisms to Enable Energy Provider Delivered Energy Efficiency. Montpelier: RAP Publications [pdf]. Available at: <https://www.iea.org/media/workshops/2012/pepdeebrussels/RAP_Swanson2012_March.pdf> [Accessed 5 February 2017].

9. Novoseltsev, O., Kovalko, O. and Evtukhova, T., 2013. Cross-border cooperation of energy service companies as a factor enhancing energy and economic safety. In: G. Pivnyak, O. Beshta, and M. Alekseyev, eds., Energy Efficiency Improvement of Geotechnical Systems. London: Taylor & Francis Group, CRC Press. pp. 37‒46.

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Registration data

ISSN (print) 2071-2227,
ISSN (online) 2223-2362.
Journal was registered by Ministry of Justice of Ukraine.
Registration number КВ No.17742-6592PR dated April 27, 2011.

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