The ESCO Market
In general, the market for Energy Services Companies (ESCOs) in Ireland has been underdeveloped. One of the key barriers to investment in energy efficiency projects, including Energy Performance Contracts (EPC's), is the quantum and structure of funding / finance available in the market. But the Government has been sowing the seeds for ESCO market development and seeking to reduce the barriers to market entry and take-up from purchasing organisations.
To demonstrate intent, the Government has committed up to €35 million as seed capital for investment in the Energy Efficiency Fund to help establish a fund of over €70 million when matched with investment from the private sector. Such a fund will enhance the level of finance available in the market to support the clear opportunity that exists in the public and commercial sectors.