GUARANTEE DESIGN ON ENERGY PERFORMANCE CONTRACTS UNDER UNCERTAINTY

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dc.contributor.advisorCui, Qingbinen_US
dc.contributor.advisorJiang, Xianglinen_US
dc.contributor.authorDeng, Qianlien_US
dc.contributor.departmentCivil Engineeringen_US
dc.contributor.publisherDigital Repository at the University of Marylanden_US
dc.contributor.publisherUniversity of Maryland (College Park, Md.)en_US
dc.date.accessioned2011-07-06T06:03:49Z
dc.date.available2011-07-06T06:03:49Z
dc.date.issued2011en_US
dc.description.abstractDue to the growing concerns with climate change and energy supply, Energy Performance Contracting (EPC), which uses the guaranteed future utility savings to repay the initial renovation investments, becomes increasingly popular. However, most Energy Service Companies (ESCOs) set the savings guarantee roughly based on their previous experience, which leads to inaccurate estimates in practice. This paper has built the stochastic models for the savings risks both from the energy price volatility and the facility performance instability, which follow the Geometric Brownian Motions (GBM) and Ito's lemma. Then, a flexible guarantee designing method for ESCOs is developed to minimize the financial risks and a case study has been conducted to show the application. Finally, suggestions have been made for how ESCOs set the guarantee and the extra profit sharing proportion in contracts based on the existing information. This method will help them appropriately allocate risks with successful contract negotiation.en_US
dc.identifier.urihttp://hdl.handle.net/1903/11589
dc.subject.pqcontrolledCivil Engineeringen_US
dc.subject.pqcontrolledEnergyen_US
dc.subject.pqcontrolledEnvironmental economicsen_US
dc.subject.pquncontrolledenergy efficiencyen_US
dc.subject.pquncontrolledEnergy performance contractingen_US
dc.subject.pquncontrolledGeometric Brownian Motionsen_US
dc.subject.pquncontrolledguarantee designen_US
dc.titleGUARANTEE DESIGN ON ENERGY PERFORMANCE CONTRACTS UNDER UNCERTAINTYen_US
dc.typeThesisen_US

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