【亚开行】通过金融部门推动中小企业的节能和低碳投资-2024.9_125页_3mb

Summary of Driving Energy-Efficient and Low-Carbon Investments for Small and Medium-Sized Enterprises through the Finance Sector

Core Content

This report by the Asian Development Bank (ADB) explores the potential for energy efficiency and climate-smart infrastructure (CSI) investments in small and medium-sized enterprises (SMEs) in India, with a focus on the finance sector's role in scaling these initiatives. It highlights three key sectors—energy-intensive SMEs, commercial buildings, and electric mobility—which together account for over two-thirds of India’s primary energy demand and are central to the country’s decarbonization goals.

Main Objectives

The study aims to:

• Identify investment opportunities in energy efficiency and CSI technologies across these sectors.
• Assess market and operational barriers to financing these technologies.
• Explore the potential for women-led businesses in the clean energy supply chain.
• Recommend strategies for financial institutions and technology providers to support low-carbon investments.

Key Sectors and Technologies

Targeted Sectors

• Energy-intensive SME industrial sectors: These include subsectors such as textiles, food processing, and others.
• Commercial buildings: A major area for energy efficiency improvements.
• Electric mobility (e-mobility): Particularly relevant for reducing transport-related emissions.

Promising Technologies

• Short-listed technologies: 60 technologies were selected based on criteria such as energy savings potential, investment potential, payback period, GHG reduction, market acceptance, and replication potential.
• Energy savings potential: Most technologies offer savings between 5% and 30%, with some reaching up to 50%.
• Total potential energy savings: Over 850 million metric tons of CO₂ by 2030.
• Investment potential:
  • Commercial buildings: $300 billion
  • Transport: $266 billion
  • Industries: $140 billion
• Total investment potential (2022–2032): Over $705 billion.

Market and Financing Landscape

Market Challenges

• Limited awareness among SMEs about suitable technologies.
• High up-front costs and long payback periods.
• Skilled labor shortage for implementation and operation.
• Import dependence and limited reach of technology providers.
• Reluctance of financial institutions to fund due to perceived performance risks and transaction costs.

Financing Instruments

• Risk guarantee schemes: Such as the Partial Risk Guarantee Fund for Energy Efficiency (PRGFEE) and Partial Risk Sharing Facility (PRSF).
• List-based and technology approaches: Designed to guide financial institutions in selecting technologies for investment.
• Technical assistance schemes: Support in understanding and implementing energy efficiency and CSI technologies.

E-Mobility in India

• Government target: 30% penetration of electric vehicles (EVs) by 2030 in total new vehicle sales.
• Expected adoption:
  • 80% of two- and three-wheelers will be EVs.
  • 50% of four-wheelers and 30% of buses will be electric.
• Benefits:
  • Cumulative oil savings of 474 mtoe.
  • Carbon emission reduction of 846 mtoe.
  • Monetary savings of over $185 billion at 2019 prices.

Barriers and Proposed Solutions

General Barriers

• Supply chain limitations: Limited reach of technology providers, import dependence, and lack of skilled labor.
• Measurement and verification (M&V): Need for a robust framework to assess actual energy savings and GHG reductions.
• Financial institutions' reluctance: Due to performance risks, small ticket sizes, and transaction costs.

Proposed Solutions

• Partnerships among financial institutions and technology providers.
• Tailored financial products with risk mitigation and sharing mechanisms.
• Demand aggregation to improve scalability.
• Support for women-led businesses through inclusive policies and targeted schemes.

Policy and Institutional Support

• ADB’s role: Provides technical assistance and collaborates with private sector financial institutions and NBFCs.
• Government initiatives: Include the FAME I and II schemes, which support EV adoption.
• Key stakeholders:
  • Financial institutions (including SFBs, NBFCs, and SIDBI).
  • Technology providers (OEMs, ESCOs, LSPs).
  • Government bodies (RBI, BEE, MoMSME).

Opportunities for the Finance Sector

• Investment potential in energy efficiency and CSI is vast and offers low-risk opportunities.
• E-mobility is a growing market with significant long-term benefits.
• Private sector engagement is crucial for scaling up low-carbon investments.
• Innovative financial instruments can help overcome existing barriers and mobilize capital.

Policy Recommendations

• Strengthen the financing ecosystem for energy efficiency and CSI through multi-stakeholder collaboration.
• Develop risk mitigation mechanisms for financial institutions.
• Expand lending options tailored to SMEs.
• Enhance support for women entrepreneurs in the clean energy sector.
• Improve market acceptance and technical capacity for energy efficiency and e-mobility.

Conclusion

The report underscores the importance of the finance sector in driving energy-efficient and low-carbon investments for SMEs in India. It identifies key sectors and technologies with high potential for energy savings and GHG reduction, outlines the barriers to adoption, and proposes actionable solutions. The ADB emphasizes the need for collaboration between financial institutions, technology providers, and government bodies to achieve India’s net-zero goals by 2070.