利用清潔發展機制(CDM)來融資LED 路燈照明裝置的可行性分析

Abstract

The objective of this research is to find the feasibility or not of using Clean Development Mechanism (CMD) projects to finance LED Street Light as an effective energy saving appliance for clean public illumination. Applying common financial methods on a hypothetical scenario built using official and reliable data from the United Nations (UNFCCC), European Union, International Energy Agency and National Electricity Authorities for 52 countries, I found that CDM projects by itself do not offer enough incentives to invest in LED Street Light, while the principal financial factors for this decision are the LED cost (including labor and installation) and the electricity tariffs of the location. Additionally, applying interviews and surveys to 21 LED lighting companies from China and Taiwan, I found that almost every company is using traditional marketing methods to promote and sell LED Street Lights, targeting retailers and distributors to sell their LED Street Light products together with other LED lighting products. In this research, I suggest that LED Street Lights need a special marketing strategy, targeting institutional investors, local governments and public illumination projects; at the same time, I suggest to target countries with electricity tariffs over U$0.10 per Kwh which can offer an IRR of 20% or higher, according to the analysis of our hypothetical scenario. At the same time, according to the sensitivity analysis, I suggest that countries with electricity tariffs over U$0.20 per Kwh may withstand prices up to U$750.00 per LED Street Lamp (including labor and installation) and still get an IRR of 20% or higher. One of the principal limitations of this research is that our financial analysis on LED Street Lights does not include the social benefits for the location and the positive externalities generated on the environment, these values are difficult to measure because of they require advanced metrical methods, however including them in the analysis will increase the total benefits of using LED Street Lights. The results of this research offer highlights for LED companies to polish up their marketing strategies and their target market in the LED Street Light industry, showing the principal factors for the economic benefits of using LED Street Lights.