ENERGY EFFICIENCY OF BUILDINGS AS A COMPONENT OF SUSTAINABLE DEVELOPMENT IN SMART CITIES: GLOBAL EXPERIENCE AND IMPLEMENTATION PRACTICE
Abstract
The article discusses global experiences in implementing projects to improve energy efficiency in buildings as part of smart city strategies. The focus of the study is on the practical aspects of energy efficiency projects and the financing mechanisms for their implementation. The study employed several research methods, including generalization to examine the practices of implementing energy efficiency projects and the tools for their financing, analysis and synthesis to outline the global experience of implementing energy efficiency projects and study the recommendations of international organizations to justify energy efficiency programs, and morphological analysis to select programs and projects that are publicly available by key characteristics. The study aimed to identify effective practices for implementing energy efficiency programs in smart cities and the most effective mechanisms for financing them. It is well established that the implementation of energy efficiency projects can effectively address two primary objectives: the improvement of energy efficiency and the reduction of harmful carbon dioxide emissions. The expected effects of the implementation should be considered from the perspective of citizens, city authorities, municipal enterprises, and businesses. The article discusses projects aimed at improving the energy efficiency of buildings in Toronto (Canada), Calgary (Canada), London (UK), and Houston (USA). It also highlights the economic benefits that have been gained from their implementation. The article analyses the practical aspects of financing energy efficiency projects in smart cities and describes the existing mechanisms for attracting investment in energy efficiency programs. After analysing international experience, the basic mechanisms for financing energy efficiency projects include creating a specialized municipal financing fund, issuing municipal green bonds, providing dedicated credit lines, operating energy efficiency revolving funds, implementing energy-saving contracts, and entering into energy service agreements. The financing mechanisms proposed in this article have been shown to be effective and can be considered as options for financing energy efficiency projects in Ukrainian cities.
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