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この調査レポートは、米国のエネルギーサービス企業 (ESCO) を調査し、米国経済におけるエネルギーの効率化推進の促進要因と阻害要因を詳細に記述しています。

The energy service company (ESCO) market for energy efficiency project installations and services exceeded $5.1 billion in 2011. Driven by public policies that encourage a greater emphasis on energy efficiency to reduce costs and improve operations, this market is expected to continue to grow faster than the domestic economy and reach $16 billion in sales by 2020.

The majority of ESCO work is conducted for the municipal, universities, schools, and hospitals (MUSH) market – largely for public entities and institutions at the state or local level – which represents about 73% of all ESCO activity. However, the federal market has been highly active in recent years, driven by a presidential executive order that mandates that all federal agencies must achieve a 30% reduction in energy use by 2015, plus spending authorized by the American Recovery and Reinvestment Act of 2009 (ARRA). While the full impact of this economic stimulus spending has yet to be realized, ARRA has directed billions of dollars into energy efficiency projects at all levels of government and to all geographic regions of the nation.

This Pike Research report describes the continuing evolution of the ESCO market, detailing drivers and barriers to deeper penetration of energy efficiency in the U.S. economy. The study focuses on the role that performance contracting is playing as a vehicle for financing efficiency projects for public entities that face budget and credit limitations, as well as the convergence of new technologies and service offerings into traditional energy conservation projects. Key industry players are profiled in depth and market forecasts extend through 2020.

Key Questions Addressed:

• What is an ESCO, and who are the major competitors in this market?
• How is ESCO market activity divided among major customer segments?
• What are the major policies that drive government use of performance contracts?
• How has the American Recovery and Reinvestment Act of 2009 affected public sector spending for energy efficiency?
• Which technologies are expected to play major roles in future efficiency projects?
• What is the current status of Property Assessed Clean Energy (PACE) financing for commercial efficiency projects?

Who needs this report?

• Energy service companies
• Energy efficiency technology vendors
• Commercial building owners and managers
• Federal, state, and municipal government agencies
• Utilities
• Investor community

目次

1. Executive Summary

1.1 The ESCO Market

1.2 ESCO Market Activity

2. Market Issues

2.1 Defining the ESCO Market

2.2 What is an ESCO?

2.3 Evolution of the ESCO Market: 1973–2010

2.3.1 Creation of the ESCO Industry

2.3.2 Consolidation: 1990-2005

2.3.3 Current ESCO Market Structure

2.3.4 The Super ESPCs

2.3.5 ESCOs in the Army Market

2.4 ESCO Industry Segmentation by Players

2.4.1 NAESCO Member Categories

2.4.1.1 Energy Service Company (ESCO)

2.4.1.2 Energy Service Provider (ESP)

2.4.1.3 Energy Efficiency Contractor (EEC)

2.4.2 Industry Segmentation by Business Model

2.4.2.1 Independent ESCOs

2.4.2.2 Building Equipment Manufacturers

2.4.2.3 Utility Companies

2.4.2.4 Architectural and Engineering Companies

2.4.3 Consolidation Expected to Continue

2.4.3.1 ESCOs Looking for Deals

2.4.3.2 Merger Considerations

2.4.3.3 Acquisition Risk

2.5 Industry Segmentation by Market

2.5.1 MUSH Market Segment

2.5.1.1 Municipalities and State Government

2.5.1.2 K-12 Education

2.5.1.3 Colleges and Universities

2.5.1.4 Hospitals and Healthcare Facilities

2.5.1.5 Correctional Facilities

2.5.1.6 Public Housing Districts

2.5.2 Common Barriers Faced by the MUSH Market Segment

2.5.3 Federal Agencies

2.5.4 Public Housing

2.5.5 Commercial/Industrial

2.6 Contract Mechanisms in the ESCO Industry

2.6.1 Energy Savings Performance Contracts (ESPC)

2.6.2 Utility Energy Service Contracts (UESC)

2.6.3 Power Purchase Agreements (PPA)

2.6.4 Enhanced Use Leases (EUL)

2.7 Federal Market Issues

2.7.1 The Federal Policy Trend

2.7.2 Obama Administration Support for Efficiency Projects

2.7.3 U.S. Climate Policy

2.7.4 ESPC Policy Drivers

2.7.4.1 National Energy Conservation Policy Act (NECPA 1986)

2.7.4.2 DOE Rule on ESPC Use 10 CFR 436 (1991, etc.)

2.7.4.3 Energy Policy Act of 1992 (EPAct 1992)

2.7.4.4 Office of Management and Budget Memorandum M-98-13 (1998)

2.7.4.5 Executive Order 13123 (1999)

2.7.4.6 Energy Policy Act of 2005 (EPAct 2005)

2.7.4.7 Executive Order 13423 (2007)

2.7.4.8 Energy Independence and Security Act of 2007 (EISA 2007)

2.7.4.9 DOE Transformational Energy Action Management Initiative (2007)

2.7.4.10 American Recovery and Reinvestment Act of 2009 (ARRA 2009)

2.7.4.11 Executive Order 13514 (2009)

2.7.4.12 National Defense Authorization Act (NDAA 2011)

2.7.4.13 OMB Memorandum M-98-13 (addendum 2011)

2.7.4.14 Better Buildings Initiative (2011)

2.7.4.15 Other Significant Programs

2.7.5 ESPC Reforms

2.7.6 Increasing Competition for Financing

2.7.7 The 2009 Internal Review

2.7.8 Department of Defense Opportunities

2.7.8.1 The RAND Report on Army/UESC Collaboration

2.7.8.1.1. Benefits for Army Collaboration

2.7.8.1.2. Technical Assistance and Information Benefits for Utility Partners

2.7.8.1.3. Perceived Barriers to Collaboration

2.7.8.1.4. Recommendations to Overcome Barriers

2.8 Market Impacts of the American Recovery and Reinvestment Act

2.8.1 MUSH Market Impacts of Stimulus

2.8.2 ARRA Implementation Difficulties

2.8.2.1 ESCO Concerns about Spending Lag

2.8.2.2 Inspector General Reviews of EECBG

2.8.2.3 Reports to Congress

2.8.3 Use of QECBs

2.8.3.1 Qualified Projects and Uses

2.8.3.2 How They Work

2.8.3.3 The QECB Experience to Date

2.9 Commercial and Industrial Drivers

2.9.1 Property Assessed Clean Energy (PACE) Bonds

2.9.2 Benefits for Commercial Property Owners

2.9.3 Concerns Quell Momentum

2.9.4 Status of Commercial PACE Programs

2.9.5 PACE Programs in the Works

2.9.6 Legal and Legislative Challenges to FHFA

3. Technology Issues

3.1 Technology Overview

3.2 Typical Energy Efficiency Technologies

3.2.1 Heating

3.2.2 Cooling

3.2.3 Hot Water

3.2.4 HVAC and Lighting Controls

3.2.5 Ambient Comfort

3.2.6 Lighting

3.2.7 Other Technologies and Practices

3.2.7.1 Commissioning

3.2.7.2 Demand Response

3.2.7.3 Renewable Energy

3.2.7.4 Building Energy Management Systems

3.2.7.5 Energy Procurement

3.3 Technologies on the Horizon

3.4 Proving-Ground Technologies

3.4.1 High-R Windows

3.4.2 Wireless Mesh Sensor Network

3.4.3 Magnetic Bearing Compressors

3.4.4 Variable Refrigerant Flow

3.4.5 Variable-Speed Chiller Controls

3.4.6 Condensing Boilers

3.4.7 Low Ambient/Task Lighting

3.4.8 Integrated Daylight Systems (Digital Addressable Lighting Interface, DALI)

3.4.9 Plug Load Reduction Using End-use Monitoring and Dashboards

3.4.10 Photovoltaics (PV) with Solar Water Heating

3.4.11 Commercial Ground-source Heat Pumps

3.4.12 Chilled Beams

3.4.13 Smart Windows

3.5 Putting New Technologies into Practice

3.5.1 GSA Net Zero Building Challenge

3.6 Lighting Technologies

3.6.1 Future Outlook for LEDs

4. Key Industry Players

4.1 Energy Service Companies

4.1.1 AECOM Energy

4.1.2 Ameresco

4.1.3 The Benham Companies / SAIC

4.1.4 Burns & McDonnell

4.1.5 Chevron Energy Solutions

4.1.6 Clark Energy Group, LLC

4.1.7 ConEdison Solutions

4.1.8 Constellation NewEnergy

4.1.9 Eaton Corp.

4.1.10 Energy Systems Group

4.1.11 FPL Energy Services

4.1.12 Honeywell Building Solutions

4.1.13 Johnson Controls

4.1.14 Lockheed Martin Systems and Global Solutions

4.1.15 McKinstry

4.1.16 NORESCO / United Technologies Corporation / Carrier

4.1.17 Onsite Energy Corporation

4.1.18 OpTerra Energy Group

4.1.19 Pepco Energy Services, Inc.

4.1.20 Schneider Electric

4.1.21 Siemens

4.1.22 Trane, Inc.

4.1.23 United Energy

4.2 Financial Partners and Advisors

4.2.1 Bostonia Partners, LLC

4.2.2 Cascadia Capital

4.2.3 Clean Energy Fund

4.2.4 Dominion Federal

4.2.5 FMI Capital Advisors

4.2.6 Green Campus Partners

4.2.7 Guggenheim Capital Markets

4.2.8 Hannon Armstrong

4.2.9 United Financial

5. Market Forecasts

5.1 Overview

5.1.1 Reasons for Retrenching

5.1.2 Ratings Woes

5.1.3 Impacts on Market Forecasts

5.2 Energy Costs and Energy Efficiency

5.3 ESCO Market Projections: 2011-2020

5.4 The Federal Market

5.4.1 ESPC in the Pipeline

5.4.2 Better Buildings Initiative

5.4.3 ESCO Revenues by Technology Type

5.4.4 Future Considerations

6. Company Directory
7. Acronym and Abbreviation List
8. Table of Contents
9. Table of Charts and Figures
10. Scope of Study, Sources and Methodology, Notes

List of Charts and Figures

• ESCO Revenue Segmentation by End Use Market, United States: 2011
• ESCO Revenues by End Use Market, Aggressive Scenario, United States: 2010-2020
• ESCO Revenue Segmentation by End Use Market, United States: 2006-2020
• Uses of QECBs Issued: 2010-2011
• Regional Use of QECBs to Date: 2011
• Commercial Lamp Unit Shipments by Technology, North America: 2011-2021
• Average Retail Rates for Electricity by Sector, United States: 2009-2020
• ESCO Revenues by End Use Market, Aggressive Scenario, United States: 2010-2020
• ESCO Segmentation by End Use Market, United States: 2020
• Average Federal ESPC Project Size, by Contract Amount: 2005-2011
• Federal ESPCs Awarded and Forecast: 2010-2017
• ESCO Revenue Segmentation by End Use Market, United States: 2020
• ESCO Revenue Segmentation by Technology or Project Type, Base Scenario: 2020
• Federal ESPC Market Share by Contract Size, 2009-2011
• Schematic of Energy Performance Contracting
• Status of Federal Agency Progress Toward Energy Savings Goals: 2010
• Federal Government ESPC Project Investment by Fiscal Year: 1998-2011
• Federal Government UESC Investment by Year: FY 1998-2011
• Federal Facilities Investment in Energy Efficiency Projects: 2003-2010
• Number of Federal ESPCs Awarded by Region: 2009-2011
• U.S. Army Engineering and Support Center, Future Investment in ESPC: 2012
• Property Assessed Clean Energy (PACE) Financing by State: 2012
• GSA New Zero Pilot Locations (Proposed): 2011
• Rate of Energy Use, United States: 1980-2035
• Projections of Potential Efficiency Improvements

List of Tables

• ESCO Major Mergers & Acquisitions: 2004-2012
• ESCO Segmentation by End Use Market, United States: 2006-2020
• ESCO Revenues, Base Scenario, United States: 2010-2020
• ESCO Revenues, Aggressive Scenario, United States: 2010-2020
• ESCO Revenues by End Use Market, Aggressive Scenario, United States: 2010-2020
• ESCO Revenues by End Use Market, Base Scenario: 2010-2020
• ESCO Revenue by Technology or Project Type, Base Scenario: 2006-2020
• ESCO Revenue by Technology or Project Type, Aggressive Scenario: 2006-2020
• ARRA SEP Funding, as of February 2010
• ARRA EECBG Funding, as of February 2010
• QECB Bond Volume Issued and Percentage of Total Allocation, by State: 2011
• Top Five States, by QECBs Issued, as of February 2011
• Qualified Energy Conservation Bonds Issued by Quarter: 2010-2011
• Uses of QECBs Issued
• Regional Use of QECBs to Date: 2011
• Commercial PACE Programs in Effect, United States: March 2011
• Type of Commercial PACE Projects Funded: March 2011
• Top 10 Ranking of Underutilized Efficiency Technologies
• Top 5 Federal Agencies in Terms of ESPC Usage: 2009-2011
• Federal UESC Projects, by Year: 1998-2011
• Commercial Lamp Unit Shipments by Technology, North America: 2011-2021
• Commercial Lamp Revenue by Technology, North America: 2011-2020
• Average Retail Rate for Unbundled Power: 2009-2020
• Total Federal ESPC Project Investment and Annual Energy Savings
• Federal ESPC Contracts Issued, by Region: 2009-2011
• Federal ESPCs Awarded, United States: 1998-2017
• Average Project Size, United States: 2005-2011
• GSA Green Proving Ground Technologies
• Lawrence Berkeley National Lab, ESCO Market Survey: 2010

2020年に130億ドルに達する米国のエネルギーサービス企業の収益

2012年2月2日
エネルギーサービスカンパニー(ESCO)産業は、約30年間、活況を呈してきたし、今後もビジネスチャンスと経済動向に応じて、発展し続けるだろう。今日、顧客がエネルギーを使用する際に、より柔軟に管理することのできる、受容応答やエネルギー管理ソフトウェアのような、高度な計測や管理システムが可能にする新しいサービスによって、ESCOの新たなビジネスチャンスが開拓されるだろう。米国の環境エネルギーなどの地球環境保護に関するクリーン技術関連市場の専門調査会社パイクリサーチ社の調査レポート「米国のエネルギーサービス企業(ESCO)の市場調査：MUSH (地方自治体-大学-学校-病院）、連邦政府、産業、商業、公共施設のエネルギー性能契約とエネルギー効率化 - The U.S. Energy Service Company Market: Energy Performance Contracting and Energy Efficiency for the MUSH, Federal, Industrial, Commercial, and Public Building Markets」は、米国のエネルギー効率化計画導入とサービスによるESCOの市場は、2011年に51億ドルを上回ったと報告している。コスト削減や運用改善のためのエネルギー効率化に大きな重点を置いた政策に促進されて、ESCOの市場は国内経済よりも効率の成長を継続し、販売は2020年には少なくとも130億ドルに達するだろうとパイクリサーチ社は予測している。より積極的なシナリオにおいては、ESCO市場は2020年に160億ドルに達するかもしれないとしている。

「最近の連邦政府の刺激策による投資は、まだ十分な効果を上げていないが、'2009年アメリカ復興・再投資法'は、政府のあらゆるレベルでのエネルギー効率化計画に数十億ドルをあてており、国内のあらゆる地域で投資が増加し、ESCOの革新を加速させた」と調査アナリストのBrittany Gibson氏は述べている。

ESCO市場は、主に、エネルギー効率化サービスや機器のプロバイダと、政府系機関、公共機関、ビジネス顧客とが直接契約する形態をとり、通常は、個々のプロジェクトで、設備所有者/管理者に対して「効率化の保障」を約束することを条件とした投資を伴う、実績ベースの契約によるものである。特に、この種の契約を主導する巨大企業群が市場構造を支配しつつあり、連邦セクターでのこれらのエネルギーサービス性能契約のモデルへの欲求が高まっている。同時に、顧客が自らのエネルギー消費について知るためのよりわかりやすい技術や設計を模索していることで、プロジェクトの規模も拡大している。ESCOにとって最も重要なのは、オバマ大統領の2009年の大統領指令であり、それは、すべての連邦機関は2015年までにエネルギー使用を30％削減することを命じている。

この調査レポートは、成長を続けるESCO市場について調査し、米国経済へのエネルギー効率化がより普及するための市場促進要因と阻害要因を詳述している。予算や信用の限界に直面している公共団体のエネルギー効率化プロジェクトに投資する手段としての、エネルギー削減のための性能契約の役割に注目し、既存の省エネルギープロジェクトへの新しい技術やサービス製品の統合についても記載している。主要企業の詳述し、2020年までの市場予測も行っている。

[プレスリリース原文]
Revenues for U.S. Energy Service Companies to Reach $13 Billion by 2020