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Literature review of Energy savings companies (ESCO) and marketing - Essay Example

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Summary
ESCO's are a company whose aim is to reduce a client's energy costs, often by capitalizing the sincere expenditures and sharing the resulting future cost savings with the client. This is usually accomplished through the use of an energy-performance contract (EPC) or a shared-savings agreement…
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Literature review of Energy savings companies (ESCO) and marketing

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As far as marketing is concerned it is a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and values with others. It is an integrated process through which companies create value for customers and build strong relationships with them in order to capture value from customers in return. Thus for effective functioning of ESCO it has implemented various tools and strategies of marketing.
According to European Union energy services, energy services are those activities which are taken up by the companies and market actors, and which result in demonstrable and sustainable savings of supplied/delivered energy in the customer's household and which includes the option of initial investment by other than the household or property owner [1].
The energy service company (ESCO) is in the business of providing broad range of comprehensive energy solutions including the designing and implementation of energy saving projects, energy conservation, energy infrastructure outsourcing, power generation, energy supply and risk management. Sixteen companies have been grouped together in the industry structure that provides projects based on ESCO structure [2, 3, and 4]. Ameresco is the only pure-play ESCO left in the market [5]. The others are Carrier, Honeywell Building Solutions SES, Johnson Controls Government Systems, L.L.C., Siemens Government Services, Inc., TAC Americas, Inc., Trane U.S., Inc., ConEdison, Constellation, FPL Energy Services, Pepco Energy Services, The Benham Companies, LLC (SAIC Acquired), Clark Realty Builders, LLC, McKinstry, Lockheed Martin and Chevron Energy [6, 7 ,8]. The ESCO customers include [9]



Working of ESCO
ESCO has its own way of working it starts with analyzing the part, then designs the energy efficient solution and installs the required elements, finally maintaining the system to ensure that the energy is saved during the payback period. The savings in energy costs is often used to pay back the capital investment of the project over a five- to twenty-year period, or reinvested into the building to allow for capital raise that may otherwise be impractical. If the project does not provide returns on the investment, then ESCO is often responsible to pay the difference [10].
ESCOs structure is as follows

Contract

Services
Customer ESCO
Payment
Financing payment Contract
Bank
(ESCO feasibility report. 2007)
Initially ESCO installs the energy conservation measures (ECM's) and measure the energy saved resulting from the projects and presents the data to the customer. A common way to calculate energy savings is to measure the flows of energy associated with the ECM, and to apply spreadsheet calculations to determine savings.
They have formed a standardized table as follows;

Description
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