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Financial measures Serbia should offer for solar hot water systems

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2012
Authors
Stevanović, Sanja
Pucar, Mila
Article (Published version)
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Abstract
Hot water consumption is an important segment in the energy consumption in households, especially in Serbia, where majority of households heat water with electric immersion heaters. Having in mind that 73% of electricity in Serbia is generated in lignite-fired power plants, we arrive at an interesting situation that the thermal energy of coal is first transformed into electric energy and then back to thermal energy of water in households. Obviously, these transformations yield a very inefficient use of the energy embedded in coal. A more appropriate alternative is installation of solar hot water (SHW) systems in households. The current number of installed SHW systems in Serbia is negligibly small -only about 0.1% of all households. Serbia has recently adopted feed-in tariffs for generating electricity from renewable energy sources (RES), as part of its obligations from the Energy Community Treaty, but it did not provide any incentive for household SHW installations. It is generally acc...epted that best form of SHW incentive is a direct subsidy to reduce high upfront costs. The aim of this work is to suggest the level of the subsidy which Serbian government should offer in order to reach the level of SHW deployment comparable to that of more developed countries. We first perform a financial analysis of SHW installation in the southern Serbian town of Niš with RETScreen, and then use contingent valuation survey among household owners in Serbia to determine the subsidy level which would substantially increase their willingness to install a SHW system. We conclude that 20% subsidy is justified already by CO2 mitigation potential of SHW systems, while 50% subsidy, which lowers equity payback period to 5.6 years, generates most interest among household owners.

Keywords:
Feed-in tariff / Financial incentive / Household subsidy / Solar hot water system
Source:
Energy and Buildings, 2012, 54, 519--526

DOI: 10.1016/j.enbuild.2012.02.054

ISSN: 0378-7788

WoS: 000312745200057

Scopus: 2-s2.0-84903638926
[ Google Scholar ]
2
27
URI
http://raumplan.iaus.ac.rs/handle/123456789/199
Collections
  • Radovi istraživača / Researchers' publications
Group
RAUmPlan
TY  - JOUR
AU  - Stevanović, Sanja
AU  - Pucar, Mila
PY  - 2012
UR  - http://raumplan.iaus.ac.rs/handle/123456789/199
AB  - Hot water consumption is an important segment in the energy consumption in households, especially in Serbia, where majority of households heat water with electric immersion heaters. Having in mind that 73% of electricity in Serbia is generated in lignite-fired power plants, we arrive at an interesting situation that the thermal energy of coal is first transformed into electric energy and then back to thermal energy of water in households. Obviously, these transformations yield a very inefficient use of the energy embedded in coal. A more appropriate alternative is installation of solar hot water (SHW) systems in households. The current number of installed SHW systems in Serbia is negligibly small -only about 0.1% of all households. Serbia has recently adopted feed-in tariffs for generating electricity from renewable energy sources (RES), as part of its obligations from the Energy Community Treaty, but it did not provide any incentive for household SHW installations. It is generally accepted that best form of SHW incentive is a direct subsidy to reduce high upfront costs. The aim of this work is to suggest the level of the subsidy which Serbian government should offer in order to reach the level of SHW deployment comparable to that of more developed countries. We first perform a financial analysis of SHW installation in the southern Serbian town of Niš with RETScreen, and then use contingent valuation survey among household owners in Serbia to determine the subsidy level which would substantially increase their willingness to install a SHW system. We conclude that 20% subsidy is justified already by CO2 mitigation potential of SHW systems, while 50% subsidy, which lowers equity payback period to 5.6 years, generates most interest among household owners.
T2  - Energy and Buildings
T1  - Financial measures Serbia should offer for solar hot water systems
VL  - 54
SP  - 519-
EP  - 526
DO  - 10.1016/j.enbuild.2012.02.054
ER  - 
@article{
author = "Stevanović, Sanja and Pucar, Mila",
year = "2012",
url = "http://raumplan.iaus.ac.rs/handle/123456789/199",
abstract = "Hot water consumption is an important segment in the energy consumption in households, especially in Serbia, where majority of households heat water with electric immersion heaters. Having in mind that 73% of electricity in Serbia is generated in lignite-fired power plants, we arrive at an interesting situation that the thermal energy of coal is first transformed into electric energy and then back to thermal energy of water in households. Obviously, these transformations yield a very inefficient use of the energy embedded in coal. A more appropriate alternative is installation of solar hot water (SHW) systems in households. The current number of installed SHW systems in Serbia is negligibly small -only about 0.1% of all households. Serbia has recently adopted feed-in tariffs for generating electricity from renewable energy sources (RES), as part of its obligations from the Energy Community Treaty, but it did not provide any incentive for household SHW installations. It is generally accepted that best form of SHW incentive is a direct subsidy to reduce high upfront costs. The aim of this work is to suggest the level of the subsidy which Serbian government should offer in order to reach the level of SHW deployment comparable to that of more developed countries. We first perform a financial analysis of SHW installation in the southern Serbian town of Niš with RETScreen, and then use contingent valuation survey among household owners in Serbia to determine the subsidy level which would substantially increase their willingness to install a SHW system. We conclude that 20% subsidy is justified already by CO2 mitigation potential of SHW systems, while 50% subsidy, which lowers equity payback period to 5.6 years, generates most interest among household owners.",
journal = "Energy and Buildings",
title = "Financial measures Serbia should offer for solar hot water systems",
volume = "54",
pages = "519--526",
doi = "10.1016/j.enbuild.2012.02.054"
}
Stevanović S, Pucar M. Financial measures Serbia should offer for solar hot water systems. Energy and Buildings. 2012;54:519--526
Stevanović, S.,& Pucar, M. (2012). Financial measures Serbia should offer for solar hot water systems.
Energy and Buildings, 54, 519--526.
https://doi.org/10.1016/j.enbuild.2012.02.054
Stevanović Sanja, Pucar Mila, "Financial measures Serbia should offer for solar hot water systems" 54 (2012):519--526,
https://doi.org/10.1016/j.enbuild.2012.02.054 .

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