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Experiences on Energy Efficiency Financing Instruments in
Thailand
Amaraporn Achavangkool
Energy Conservation ExpertDepartment of Alternative Energy Development and Efficiency
Ministry of Energy, Thailand
Inter-regional Workshop on Energy Efficiency Investment Projects Pipeline
United Nations Economic and Social Commission for Asia and Pacific (ESCAP)
United Nations Economic and Social Commission for Europe (UNECE)
23 – 24 April 2014, Bangkok, Thailand
2
Contents
• Thailand’s Energy Situation 1
• Energy Policy and Plans for EE Promotion2
• Successful Financial Incentive : Energy Efficiency Revolving Fund Project3
• Existing Financial Incentives for Energy Efficiency Promotion4
1. Thailand’s Energy Situation
Source : DEDE Energy Statistics 2012
Final Energy Consumption by Fuel Type
Petroleum Products
Electricity
Traditional Renewable Energy
Coal & itsProducts
Natural Gas
RenewableEnergy
Total Final Energy Consumption in 2012: 73,316 ktoe
Total Energy Use Nearly 2 million barrels (oil equivalent) per day
Energy import accounting for 54% of energy use
Energy import value in 2012 = 1.446 trillion baht (48 billion USD)
=> 77% of import value = Crude Oil
Final Energy Consumption by Fuel Type
4
Source : DEDE Energy Statistics 2012
Final Energy Consumption by Sector
Final Energy Consumption 2012: 73,316 ktoe
5
Import Value in 2012p 1,441,790 million baht
P: Preliminary
0
200,000
400,000
600,000
800,000
1,000,000
1,200,000
1,400,000
1,600,000
2552 2553 2554 2555p
Energy Import Value
Elec. Coal Natural gas+LNG Petroleum Crude Oil
Million Baht
Source : EPPO, DEDE Energy Statistics 2012
Energy Consumption
Increasing trend of Energy Consumption
1,1301,188
1,229
1,299 1,322
2552 2553 2554 2555 2556*
Final Energy ConsumptionKboe/day
6
2009 2010 2011 2012
2009 2010 2011 2012p
1,188
1,229
1,300
1,130
2. Energy Policy and Plans for EE Promotion
Thailand’s Energy Policy
Develop Infrastructure to be “Regional Energy Center”• Land Bridge• Smart Grid• Gas Pipeline• Power Grid
Secure Thailand Energy supply• Power Plant / Oil Storage• International Cooperation• Participation
Fair Energy Pricing• Energy Price Restructure
Up-scaling RE mix to 25% in 10 years• CBG• Feed in Tariff• Distributed Green Generation• Research & Development
Target Energy Intensity reduction by 25% within 20 years (based on 2010 level)• Energy Conservation Law & Regulation • CDM
Fin
al
En
erg
y C
on
su
mp
tio
n (
kto
e)
Government policy @ 23rd Aug 2011 aims to reduce Energy Intensity 25% within 20 years
BAU
With EE Plan
EI (2030)
11.7ktoe/billion baht
EI (2010)15.6
ktoe/billion baht
Reduce 25%
Average Growth rate/year (2010-2030)
GDP (2011) 4.3%
Population 0.3%
*GDP2030 at constant price 1988 = 10,650 billion baht
ktoe
162,715
124,515
38,200
Energy usage reduced not less than
38,200 ktoe by 2030
20-Year Energy Efficiency Development Plan
71,200
Expected outcome in 2030
Reduce final energy consumption at least 38,200 ktoe Reduce CO2 emission 130 M. tons Reduce Energy cost 707,000 M.Bahts.
Target Groups Industrial sector Transportation sector Business Building Small Business and Residential Building
EE
9
Sector
Energy Saving Target in year 2030
Electricity
(GWh)
Heat(ktoe)
Total(ktoe)
Industry 39,112 12,767 16,100 (42%) Transportation - 16,800 16,800 (44%) Commercial Building
23,007 340 2,300 (6%)
Residential 18,972 1,383 3,000 (8%)
EE Target by sectors
Social
• ESCO Fund Project• Tax Incentives• Direct Subsidy• EE Revolving Fund
• Public Relation through Media• Creating Awareness• Thailand Energy Awards• Personal Development• EE Display Center• EE Networking / Voluntary Agreement • Energy Conservation in Production /
Making Contribution
• Research & Development• Knowledge & Know-how
• Energy Management for Designated Buildings and Factories under ECP ACT• Building Energy Code• Standard and Labelling for equipments & material (MEPS & HEPS)
Knowledge
Law & Regulation
FinancialSupport
Scheme to promote EE
EE
11
Progress / Target
TargetCurrent
Status 2012
RE promotion
25% of RE Use in 2021
10.6%
EE promotion
25% EI reduction in
2030
5.2%
Current achievement
3. Successful Financial Incentive : Energy Efficiency Revolving Fund Project
Partnership of Government and Banking SectorFor Energy Conservation
Energy Efficiency Revolving Fund
Barriers / ConceptBarriers / Concept
• Limited access to loans
• Higher perceived risks
• High transaction costs
• Not a priority
• Banks were not interested
• Stimulate Investment and Stimulate Interest among Banking Community
• Provide NO cost Capital to EE Market
• Commercial Lending
• Minimize Government Intervention
• Simplified Procedures
Concept and Approach
Barriers
Objectives
Stimulate and leverage commercial investment for EE Improvement
Familiarize commercial banks with EE lending market and opportunities
Bank
RF
Bank Bank
Bank
History of Program Development
Five phases of EE Revolving Fund Program
Phase PeriodSize of
Revolving Fund (million USD)
Interest
1st phase : Jan 2003 – Jan 2006 62.5 -
2nd phase : Mar 2006 – Mar 2009 62.5 0.5%
3rd phase : Aug 2007 – Aug 2010 92 0.5%
4th phase : Sep 2009 – Sep 2012 12.5 0.5%
5th phase: June 2010-May 2013 15.6 0.5%
Total 245.10
Terms and Conditions
Loan Period 7 years maximum
Eligible Borrowers Facilities’ Owners, ESCOs and Project
Developers
Eligible Projects EE improvement or RE development and
Utilization
Loan Size from RF Up to 1.56 million USD / project
( 50 million Baht / project)
Interests charge to
customers
Not more than 4% (negotiable)
1 USD = 32 Bath
Eligible Investment CostsEligible Investment Costs
Equipment and Installation costs
Consulting Costs – design, control, supervision, guarantee fees
Civil works, piping, or necessary components specifically and necessary for the project
Associated Costs necessary – removal of existing equipment, transportation, taxes, VATs
Not Eligible: Land Costs, Land Improvement Costs, building construction, Costs not specifically needed for the project – main transformers, substation
Work Process
DEDE allocate
budget for
banks
Banks lend to Client
for EE Project
EE ProjectImplemented
Clients Return Payment
Banks
payback to
DEDE
11 Participating Banks
1. Bangkok Bank (BBL)2. Bank of Ayudhya (BAY)3. CIMB Thai (CIMB)4. Thai Military Bank (TMB)5. Siam City Bank (SCIB)6. Siam Commercial Bank (SCB)7. Thai Farmers Bank (TFB)8. Exim Bank (Exim)9. Krung Thai Bank (KTB)10. SME Bank (SME)11. UOB
• 6 Banks participating in the 1st Phrase
• 11 Banks participating in 2nd – 3rd Phrase
• 9 Bank participating in 4th – 5th Phrase
RE, 40%
EE, 60%
Revolving Fund Project: Proposals
most Factory proposal
most Buildings proposal
Type of Enterprise Projects
Factory 247
Buildings 43
ESCO 5
Total 295
Factory Type
1. Food, beverages and tobacco
2.Textiles
3. Chemical
Building Type
1.Hospitals
2.Hotels
3.Offices
Investment
From Energy Conservation Promotion Fund
7,231 Million Baht / y
From Finance Institutions 8,728 Million Baht / y
Total Investment 15,959 Million Baht / y
Investment of All Proposal (phase 1-5)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Ph1 Ph2 Ph3 Ph4 Ph5
55.51% 52.10%45.97%
30.64%24.48%
44.49% 47.90%54.03%
69.36%75.52%
From Finance From Fund
Investment
From Energy Conservation Promotion Fund
7,231 Million Baht / y
From Finance Institutions 8,728 Million Baht / y
Total Investment 15,959 Million Baht / y
Investment of All Proposal (phase 1-5)
Unit : Million Bath
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Ph1 Ph2 Ph3 Ph4 Ph5
1,902.25 1,734.96 2,702.04
392.73 499.96
1,524.68 1,594.843,175.96
889.161,542.46
From Finance From Fund
Energy Savings of All Proposal (phase 1-5)
ElectricFuelSavings
Electric Saving 1,171 MWh/y
Fuel Saving 234 Million Liters/y
Total Cost Savings 6,806 Million Baht
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Ph1 Ph2 Ph3 Ph4 Ph5
21.90% 17.94%
43.61%
66.35% 64.66%
78.10% 82.06%
56.39%
33.65% 35.34%
Fuel Electirc
Ph1 Ph2 Ph3 Ph4 Ph5
627.19520.72
1,193.55
257.93 327.25
809.77948.91
614.82
52.10 71.25
Fuel Savings (Baht)
Electric Savings (Baht)
Energy Savings of All Proposal (phase 1-5)
ElectricFuelSavings
Electric Saving 1,171 MWh/y
Fuel Saving 234 Million Liters/y
Total Cost Savings 6,806 Million Baht
Unit : Million Bath
Types of Renewable Energy (phase 1-5)
Fuel Changes
Biogas
Co-Generation
Solar farm Biomass Gasification
Renewable Energy : ProposalsMost Proposals Percentage
1.Fuel Changes 55%
2. Biogas 23%
3. Co-Generation 14%
4. Solar farm 5%
Types of EE Measures Implemented (phase 1-5)
Machine Changes
Air-conditioning
system
Manufacturing Improvement
Boilers
Energy Management
Electrical
Lighting
Energy Conservation : Proposal
Most Proposal Percentage
1. Machine Change 59%
2. Air-conditioning system 21%
3. Manufacturing Improvement 16%
4. Boilers 2%
48%
25%
12%
8%7%
0%
Co-Gen Power Produce Plant
Fuel Changs
Biogas
Biomass
solarcell
Gasification
Types of RE Measures Implemented (phase 1-5)
RE Proposals Analyze by Investment
Types of RE Measures Implemented (phase 1-5)
70%
19%
9%
1% 1%
0%
0%
Machine Changes
Manufacturing Improvement
Air-Conditioning System
Boilers
Energy Management
Electrical
Lighting
EE Proposals Analyze by Investment
Types of EE Measures Implemented (phase 1-5)
RE Proposals Analyze by Savings
44%
35%
11%
9% 1%0%
Co-Gen Power ProducePlant
Fuel Changs
Biogas
Biomass
Solarcell
Gasification
Types of EE Measures Implemented (phase 1-5)
EE Proposals Analyze by Savings
1%
18%
70%
7%0%0% 4% Energy Management
ManufacturingImprovementMachine Changes
Air-ConditioningSystemElectrical
Lighting
Boilers
4. Existing Financial Incentives for Energy Efficiency Promotion
EE Loans• Encouraging banks to offer
loans for EE proj. based on the success from RF program
• DEDE provide technical assistance & Info.
ESCO Fund Project• Co-investing with privates
through benefit sharing
• Run by selected fund managers (E for E, ECTF)
Financing
Tax Incentive• Privilege on buying EE products• Privilege on doing EE business
Direct Subsidy• 20% subsidy for EE proj. to privates (max. 3 mill.Baht)
• Subsidy for Gov. buildings
for EE equipment DEDE’s efforts
Cooperation with others
Welcome for new
initiatives !!!
Financial Incentives
34
Thank you for Your attention!
www.dede.go.th
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