V. Bukarica, Z. Morvaj, and Ž. Tomšić (Croatia)
Energy efficiency, policy instruments, market transformation
Energy efficiency is recognised worldwide as a single most powerful and cost-effective way for achieving goals of sustainable development. Instruments developed to improve energy efficiency are at the same time oriented towards cleaner environment, better standard of living, more competitive industry and improved security of energy supply. However, energy efficiency being typically demand side option is much harder to implement and requires carefully defined approach, i.e. policy interventions are needed to fulfill existing potentials for cost-effective efficiency improvements. In the light of recent trends in energy sector, especially liberalisation and competitive market orientation, policy measures to enhance energy efficiency improvements should shift from strictly end-users oriented approach towards whole market approach. Optimal policy instruments mix should be designed to meet defined targets. However, crucial is to take into account market dynamics and to link policy definition, empirical testing, qualitative and quantitative evaluation of achievements and policy redefinition in a closed loop. This paper offers theoretical basis for energy efficiency policy evaluation corroborated by the analysis of energy efficiency market development and transformation in the Republic of Croatia. The crucial issue is to evaluate current status of the market and accordingly adapt policy instruments mix in order to achieve optimal results.
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