节能融资在中国 - 国家节能中心

Report
中国能源研究会能效与投资评估专业委员会
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节能融资在中国
---现状、主要问题及未来方向
Energy Efficiency in China—Current status, main issues
and the future trend
中国能源研究会能效与投资评估专业委员会
Energy Efficiency and Investment Evaluation Professional
Committee
China Energy Research Society
焦
健
Jiao Jian
2014.12.17
www.chinaenergycouncil.org
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中国能源研究会能效与投资评估专业委员会
内 容
contents
背景
Background
现状
Current Status
主要问题
Main Issues
未来方向
Future Direction
中国能源研究会能效与投资评估专业委员会
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节能减排低碳发展---社会发展进步的需要
Energy saving, emission reduction and low carbon development---demanded by the progress of
society
科技引领发展 创新推动进步
Science and technology driven development; innovation promotes
progress
科技创新---引领未来新经济的增长点
S&T innovation—growth points leading future new economy
应对全球
气候变化adapt
to global
climate
change
工业3.0 industry
工业4.0 industry
3.0
4.0
工业2.0 industry2.0
(电子信息化)
(数字智能化)
(电气自动化electric
(electric
(digital
automation)
informatization)
intelligence)
近200年经济长波和科技创新的周期曲线以及推演的未来新一轮周期模型
the cyclical curve of economic growth and S&T innovation and
Future projection cycle model
工业1.0
industry 1.0
(机械化
mechanizatio
n)
波长越来越短,频率越来越快
未来 future
(智慧化)
(intelligence)
中国能源研究会能效与投资评估专业委员会
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节能减排低碳发展--国家战略目标的需要
energy saving emission reduction and low carbon development—
demanded by the national strategic goals
国家战
略
nation
al
strate
gy
2005年
“十一五”
11th 5 year
“十二五”
12th 5 year
2010年
能源消费总量
Total of energy consumption
2015年
总量目标
Overall
Target
40亿吨标煤左右
4 billion tons of
standard coal
分项目
碳强度降低17%
标
Reduce carbon intensity by 17% target
broken
down
中国经济社会发展转型升级“关键期”;
全面建设小康社会、实现国家碳强度控制目标(40%45%)的“收官期”;
实施百年强国梦“第三步战略目标”的“布局期”。
Critical period of China’s economical and social
transition
Foma; stage in building up the well off society,
achieving national carbon
intensity control target
非化石能源所占比重
( 40-45%)
达到20%
时期
“十三五”
The
[;ammomg amd de[;pu,emt stage fpr the 3
th
ste[
strateu
tp
achieve
the
china
dream
of
building
13 5 year
perioa
strong nation
d
2020年
电力消费总量
Total of power consumption
6.15万千瓦时左右
Around
61.5thousand kwh
非化石能源所占比重达到11.4%
Non fossil fuel reduced to
11.4%
2030年
时间
能源消费总量控制
48亿吨标煤左右
Energy consumption
total controlled to 4.8
billion tons of standard
coal
碳强度降低40%-45%
Carbon intensity
reduced by 40%-45%
非化石能源所占比重
达到15%
Non fossil fuel energy
accounts for 15%
森林覆盖率达到21.66%,蓄积量增加6亿立方米
能源强度降低16%
Reduce energy intensity by 16%Forest coverage rises to 21.66%, standing stock increase by 600 million
中国能源研究会能效与投资评估专业委员会
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节能驱动原理示意
Diagram of the rationale
of energy saving drivers
交通
transportat
ion
节能驱动energy
saving drivers
消费
consumption
三大驱动
3 major drivers
建筑
building
服务
service
金融
finance
节能市场 energy
saving market
三个方面3 aspects
三大领域 3 major
fields
政策
policy
技术
techno
logy
节能引擎 energy
saving drivers
工业
industry
一个引擎 1 driver
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中国能源研究会能效与投资评估专业委员会
能效投融资的边际
margin of energy efficiency investment financing
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中国能源研究会能效与投资评估专业委员会
“十一五”中国能效资金总规模
11th 5 year period China’s total funding scale for energy efficiency
8466亿元
846.6 billion
rmb
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中国能源研究会能效与投资评估专业委员会
“十一五”能效资金渠道和来源
11th 5 year period funding channels and funding sources for energy efficiency
purpose
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中国能源研究会能效与投资评估专业委员会
“十一五”能效资金投入领域和使用效果(1)
EE funding input areas and effects during the 11th 5 year plan period (1)
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中国能源研究会能效与投资评估专业委员会
“十一五”能效资金投入领域和使用效果(2)
EE funding input areas and effects during the 11th 5 year plan period (2)
能效投资直
接形成节能
能力3.4亿吨
标准煤,对
完成节能目
标的贡献度
为53.8%。
EE
investmen
t result in
340
million
ton tce
energy
saving
capacity,
53.8%
contributi
on to
reaching
中国能源研究会能效与投资评估专业委员会
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“十二五”能效资金投入需求和使用效果
Demand and effects for fund input in EE in 12 th 5 year period
能力建设投资3550亿
元 , 占 总 投 资 的
21.3%,可形成节能
能 力 3850 万 tce
capacity building
investment
355
billion
rmb,
21.3% of total
investment, 38.5
million
tce
of
energy
saving
capacity
24
24
21.3
%%
%
78.7
7676
%
%%
7760
直接 项目投资13120
亿元,占总投资的
78.7%,可形成节能
能 力 29670 万 tce
direct
project
investment 1312
billion
RMB,
78.7% of total
investment,
实现“十二五”节能目
标,全社会能效投资需求
总额约为16670亿元,是
“十一五”全社会能效投
资的近2 倍。可形成节能
能力33520万吨标准煤。
Achieving energy
saving goals for 12th
5 year plan, total
investment for EE is
1667 billion rmb, 2
times of the value
for 11th 5 year plan,
resulting in
335.2million ton tce
energy saving
单位:亿元
capacity
4550
580
230
工业领域
节能改造
淘汰落后
产能
建筑领域
交通领域
中国能源研究会能效与投资评估专业委员会
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“十二五”节能减排形势
Energy saving and emission reduction situation in 12th 5 year plan
《节能减排“十二五”规划》
12th 5 year plan for
energy saving and
emission reduction
2011年
单位GDP能耗
下降2.01%
Unit GDP
energy
consumption
drop 2.01%
未完成年度目标
annual target not
reached
2012年
单位GDP能耗
下降3.6%
Unit GDP
energy
consumptio
n drop by
3.6%
取得明显进展
Obvious
progress
achieved
54.3%
2013年
单位GDP能
耗下降
3.7% unit
GDP
energy
consumpt
ion drop
by 3.7%
2014年
单位GDP能耗
下降3.9%
Unit GDP
energy
consumptio
n drop by
3.9%
基本实现全年目标
Annual target
basically
reached
进度目标60%
2015年
单位GDP能
耗下降3.9%
Unit GDP
energy
consumpti
on drop by
3.9%
中国能源研究会能效与投资评估专业委员会
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2013年中国能效投融资进展
---市场化融资成为主渠道
2013 EE investment and financing progress---market oriented
Financing becomes the main channel
银行业金
融机构投资
2782亿元
杠杆比
1:3.4
非银行金
融机构投资
67.8亿元
外援性
社会资金
2850亿元
股权投资
0.16亿元
2013年能效领域
全社会投资总额
5046.7亿元
财政投入1146.7亿元
Budgetary input 114.6 billion rmb
可实现节能能力
7750万吨标准煤,
为实现万元GDP能耗
下降3.7%的节能目
标提供了有效支撑。
Provide strong
support to reach
the goal of unit
GDP energy
consumption
社会投资3900亿元
Non budgetary investment 390
billion rmb
中国能源研究会能效与投资评估专业委员会
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主要问题---融资困境分析
main issues--- analysis of financing difficulties
顶层设计——制度与标准的不完善从根
源上加大了风险
Top tier design---system and
standards insufficient which
increase the risk
产业发展——项目规模小难
跨过融资门槛
industry
development-project
scale too small,
difficult to reach
investment
threshhold
企业自身——管理规范性不强降低
财务透明度
Enterprise themselves—
management not up to
standard, reduced
financial transparancy
节能融资
的困境
Difficulties of
ES financing
运营特点——金融机构缺
乏对节能项目的风险评估
能力
Operational
characteristics—FI
lacks of the risk
assessment
capabilities on ES
projects
融资体系——国内融资体系尚
不完善
Financing systeminsufficient financing
system in China
中国能源研究会能效与投资评估专业委员会
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新常态、新趋势、新变化(1)
New norm, new trends and new changes (1)

政府:government:
–
–
–
–
–

国企:SOEs:
–
–

除关系国家安全和生态安全、设计全国重大生产力布局、战略性资源开发、和重大公共利益等项目外,一律由企业依法依规自主决
策,政府不再审批
The government will not require prior approvals on projects, unless the projects are related to
national security and eco security, national major productivity deployment, strategic resources
development and major public interest projects. Enterprises have the discretion to decide according to
the laws and regulations.
强化节能节地节水、环境、技术、安全等市场准入标准 enhance the market access standards enforcement on
energy saving, land saving, water saving, environmental standards, technical standards and safety
standards.
完善发展成果考核评价体系,纠正单纯以经济增长速度评定政绩的偏向,加大资源消耗、环境损害、生态效益……等指标的权重
Improve the performance evaluation system and correct the previous practice of evaluating political
achievements simply by GDP growth rate. Increase the weight of indicators such as resources
consumption, environmental damage and eco benefits.
实行以政企分开、政资分开、特许经营、政府监管为主要内容的改革。根据不同行业特点实行网运分开,放开竞争性业务
Reforms should be carried out, main contents include: separating the state influence from the
enterprise, separating the state from capital, concession operation and governmental supervision.
According to different sector characteristics, grid and operation should be separated and competitive
business should be open
外商:Foreign invested companies
–
–
探索对外商投资实行准入前国民待遇加负面清单的管理模式
Explore the management model based on national treatment prior to market access and negative list
中国能源研究会能效与投资评估专业委员会
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新常态、新趋势、新变化(2)
New norm, new trends and new changes (2)

价格:Price:
–
–

完善主要由市场决定价格的机制。凡是能由市场形成价格的都交给市场,政府不进行不当干预。推进……石油、天然气
、电力、……等领域价格改革,放开竞争性环节价格。政府定价范围主要限定在……网络型自然垄断环节,提高透明度
,接受社会监督
Improve market oriented pricing mechanism. Let market decide the price if possible.
Government should refrain from improper intervention. Push forward… the price reforms in
areas such as oil and gas, power. Open the competitive pricing section. State price setting
should be limited to …grid type natural monopoly sections, to improve the transparency and
be subject to social supervision
税收:Taxation
–
–
把高耗能、高污染产品纳入消费税征收范围,加快房地产税立法并适时推进改革,加快资源税改革,推动环境保护费改
税
High energy consuming, high pollution products will be included in the consumption tax
scheme. Accelerate the legislation on property tax and push forward reform when
appropriate. Speed up the resource tax reform. Push forward the taxation reform changing
the environmental protection fees to tax.
中国能源研究会能效与投资评估专业委员会
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新常态、新趋势、新变化(3)
New norm, new trends and new changes (4)

2020年“双控”目标:2020 target for energy consumption and carbon intensity
–
能源消费总量控制在48亿吨标准煤 energy consumption total should be controlled at 4.8 billion tce
–
碳强度降低40%-45%(2005年)carbon intensity reduce by 40-45% (2005)

碳交易:Carbon trading
–
–
–


2013年启动碳交易试点 2013 will start the carbon trading pilot project
2015年基本形成碳交易市场雏形 by 2015, carbon trading market should come to shape
“十三五”期间在全国全面开展交易 in the 13th 5 year period, carbon trading should be
carried out all over China
投融资机制:
Investment and financing schemes:
–
–
–
–
–
–
–
–
–
实行统一市场准入,创造平等投资机会
Adopt uniformed market access and create equal investment opportunities
创新投资运营机制,扩大社会资本投资途径
innovate the investment operation mechanism and increase the channels for
non state invesment
优化政府投资使用方向和方式,发挥引导带动作用
optimize the direction and approach of state investment as the lead and guide
创新融资方式,拓宽融资渠道
innovate on the financing approaches and broaden the financing channels
完善价格形成机制,发挥价格杠杆作用
中国能源研究会能效与投资评估专业委员会
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破题融资难---金融改革渐行渐近
tackle the difficulty of financing---the impending financial reform
“科技与金融结合”
试点
Pilot
on
matching
technology
with
工具创新
Tool
innovation
“新三板”等
新股发行
IPO
银行体系
Banking
system
证券投资
Securitie
s
investme
nt
The 3rd
board
金融创新
制度创新
市场创新
“上海自贸区”等
•融资渠道拓宽
•Broaden
the financing
channels
•融资门槛降低
•Lower the threshold of
financing
•融资成本下降
•Reducing the cost of
funding
•投资风险可控
•Controllable risk of
investment
中国能源研究会能效与投资评估专业委员会
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破题融资难---大力发展节能服务产业
2011.9
2011.7
2011.6
2011.2
2010.1
产品供应商
product
supplier
2010.8
2010.6
2010.6
2010.4
“十二五”节能减排综合性工作方案energy saving emission reduction work
plan for 12th 5 year period
关于进一步加强合同能源管理项目监督检查工作的通知notice on enhancing
EMC project monitoring and supervision
节能技术改造财政奖励资金管理办法measures on managing the fiscal
incentives
关于促进节能服务产业发展增值税、营业税和企业所得税政策问题的通知
notice on VAT, BT, and Income Tax for ESCO
关于财政奖励合同能源管理项目有关事项的补充通知 supplementary notice
for fiscal incentives for EMC projects
中华人民共和国国家标准合同能源管理技术通则 EMC technical principles
关于合同能源管理财政奖励资金需求及节能服务公司审核备案有关事项的通知
(架起产品与应用的桥梁)bridging
合同能源管理项目财政奖励资金管理暂行办法
products and application
关于加快推行合同能源管理促进节能服务产业发展意见的通知
2500
2155.62
2000
1500
1000
500
用能单位
节能服务
产业
1653.37
1250.26
836.29
587.68
417.3
216.57
47.3 82.55
user
742.32
800
600
400
200
0
557
116.7
18.92 65.5
412.43
287.51
195.32
0
2005 2006 2007 2008 2009 2010 2011 2012 2013
2005-2013中国节能服务产业产值(亿元)
ESCO industry value (by 100 million
rmb) from 2005-2013
2006-2013中国合同能源管理投资(亿元)
EMC investment (by 100 million
rmb)
中国能源研究会能效与投资评估专业委员会
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破题融资难---市场化路径选择
tackling the financing difficulty---market oriented approach
监管部门
regulators
 绩效考核体系决定了
经济发展依然是地方
政府重点关注的问题
 Performance
evaluation system
still makes
economic
development
priority for some
local governments


区域限排,则该区域
在吸引投资方面将处
于劣势,进而导致区
域的长期发展受到影
响
Regional emission
limitation puts the
region at a
disadvantaged
position in
attracting
investment,
affecting the long
term development
of that region
用能单位
Energy users

企业节能所降低的能
源成本有限,甚至还
要花费额外的节能成
本

The saved
energy value is
limited, and
sometimes it
will cost extra.
节能减排
排放权交易
节能服务
上游探索节能服务模式
下游建立排放市场机制
 奖惩机制尚未完善,
企业排放成本较低
 Insufficient
award and
penalty scheme.
Emission cost of
the enterprise is
still quite low
中国能源研究会能效与投资评估专业委员会
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破题融资难---投融资策略(1)
tackling the financing difficulty—investment and financing strategy(1)
•借助VC/PE实现股权
融资 using VC/PE
for equity
financing
•登陆资本市场实现跨越
用好用活
发展 using capital
股权融资
market for leap Use equity financing
forward
development
•节能减排国家专项资金
•工业、建筑、交通等节能专项资
利用政府
资金杠杆
Use state
fund
金 earmarked fund by the
state for energy saving
and emission reduction
in industry, building and
transportation
•节能服务奖励资金 ESCO
incentive fund
投融资
Investment and financing
借助新型
融资渠道
•融资租赁 financial
Leveraging new financing channels
leasing
•保理融资factoring
•融资担保
guarantee
•国际扶持
international aid
企业适时
重组并购
Business M&A
•横纵发展 horizontal
and vertical
development
•布局产业链 deploy
industry value
chain
中国能源研究会能效与投资评估专业委员会
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破题融资难---投融资策略(2)
tackling the financing difficulty—investment and financing strategy(2)
old
clients
big
project
big
enterprise
timely
repayment
capital
market
Exitting
model
innovation
模
式
创
新
交
易
退
出
Credit system
market
mechanism
市
场
机
制
征
信
体
系
Optimize
allocation
mixed
owenership
混
合
所
有
project
selection
Technical
guaranttee
Controlabl
e risk
Clear
ownership
Clear boundary
capacity
building
Sharing
mechanism
可持续发展
Sustainable
development
资
本
市
场
未
来
fut
ur
e
financial
instruments
金
融
工
具
能优
力化
建配
设置
分
担
机
制
流动性
liquidity
收益性
returns
安全性
safety
现状
Cur
rent
stat
us
老
客
户
大
项
目
大
企
业
回
款
及
时
项
目
甄
别
技
术
保
障
风
险
可
控
产
权
明
晰
边
界
清
晰
Logo
中国能源研究会能效与投资评估专业委员会
结 语
conclusion
明明在朝 穆穆列布 聚精会神 相得益彰
The state is clear about the goals and the officials committed
to the tasks. With concentration and focus, different
resources would be matched to achieve the best results
——汉●王褒《圣主得贤臣颂》
Ode of having competent officials by the Lord,
Wang Bao, of Han dynasty
谢 谢 大 家 !
thanks
www.chinaenergycouncil.org

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