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Frontiers of Engineering Management

ISSN 2095-7513

ISSN 2096-0255(Online)

CN 10-1205/N

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Front. Eng    2016, Vol. 3 Issue (3) : 252-257    https://doi.org/10.15302/J-FEM-2016044
ENGINEERING MANAGEMENT THEORIES AND METHODOLOGIES
Research on Evaluating the Efficiency of the Project Financing of the Energy Service Company
Bao-zhen Zhang1(),Han-ding Guo1,Cai-xia Yang2,Lei Wang2
1. School of Economics & Management, Tianjin Chengjian University, Tianjin 300384, China.
2. Tianjin Institute, China Academy of Building Research, Tianjin 300384, China
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Abstract

The financing efficiency evaluation of the ESCO (Energy Service Company) is an important approach to improve the operation efficiency of existing building energy-saving projects. To scientifically and reasonably evaluate the financing efficiency of the ESCO, this paper puts forward a combination evaluation model based on the method set. Firstly, the method set is composed of different methods that meet the demand of statistical coherence, and KENALL-W coefficient test of concordance is used to check up the coherence of the ranking results of the different methods. Secondly, mean, Borda and Copeland are used separately for calculating the combination evaluation results and the circular combination method is used to ensure the coherence of evaluation results. Finally, the combination evaluation model is used to evaluate the 10 ESCO business project financing benefits, and the effectiveness of the models is verified accordingly.
Keywords ESCO      project financing      financing efficiency      method set      combination evaluation     
Corresponding Author(s): Bao-zhen Zhang   
Online First Date: 24 October 2016    Issue Date: 22 December 2016
 Cite this article:   
Bao-zhen Zhang,Han-ding Guo,Cai-xia Yang, et al. Research on Evaluating the Efficiency of the Project Financing of the Energy Service Company[J]. Front. Eng, 2016, 3(3): 252-257.
 URL:  
https://academic.hep.com.cn/fem/EN/10.15302/J-FEM-2016044
https://academic.hep.com.cn/fem/EN/Y2016/V3/I3/252
Level indicators The secondary indicators
The efficiency evaluation index system of ESCO project financing Project characteristics A1 Project size A11
Project cycle A12
The cost of financing A2 Cost of debt A21
Equity cost of capital A22
Bank borrowing costs A23
Keep the cost of capital A24
Financing risk A3 Customer no-show risk A31
The risk of leverage A32
Project failure risk A33
Debt paying ability A4 Asset-liability ratioA41
Sinking BeiFuLv A42
Interest BeiFuLv A43
Profitability A5 The total investment yields A51
Internal rate of return A52
Capital of net profit margin A53
Tab.1  The Efficiency Evaluation Index System of ESCO Project Financing
Fig.1  The combination evaluation model based on the set method.
Object Method 1 Method 2 … Method m
Object 1 y 11 y 12 … y 1 m
Object 2 y 21 y 22 … y 2 m
Object n y n 1 y n 2 … y n m
Tab.2  Individual Evaluation Scheme Evaluation Results Sorting
Object Combination 1 Combination 2 … Combination m
Object 1 x 11 x 12 … x 1 m
Object 2 x 21 x 22 … x 2 m
Object n x n 1 x n 2 … x n m
Tab.3  Combination Evaluation Results Sorting
Fuzzy DEA PCA Gray Matter element
Project Value Rank Value Rank Value Rank Value Rank Value Rank
1 73.5 8 1.375 8 8.28 8 0.157 8 0.033 8
2 84.6 3 2.417 4 13.34 3 0.278 3 0.094 3
3 78.7 6 1.533 5 10.15 6 0.209 6 0.034 7
4 75.3 7 1.378 7 8.36 7 0.187 7 0.041 6
5 89.5 1 3.031 1 15.46 1 0.335 1 0.153 2
6 82.4 4 2.825 3 13.01 4 0.256 4 0.074 4
7 69.1 9 1.298 9 5.32 9 0.098 9 0.024 9
8 85.7 2 2.919 2 14.37 2 0.306 2 0.358 1
9 63.2 10 1.105 10 4.48 10 0.051 10 0.018 10
10 79.3 5 1.427 6 12.89 5 0.218 5 0.067 5
Tab.4  Single Evaluation Results
Combination evaluation 1 2 3 4 5 6 7 8 9 10
Arithmetic mean 8 3 6 7 1 4 9 2 10 5
Borda 8 3 7 6 1 4 9 2 10 5
Copeland 8 3 7 6 1 4 9 2 10 5
Tab.5  Combination Evaluation Results
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