Sustainable Development And Energy Efficiency Programs In Georgia

In this paper we examine Georgian companies’preferences for adopting LED lighting technologies and investigate the determinants of Energy Efficiency financing program Developed by EBRD, SEFF. Conjoint questionnaire together with research flyer was mailed to major organizations of Tbilisi (the capital of Georgia), which are heavy users of electricity in terms of lighting. Participant organizations were asked to answer survey questions as well as rank appropriate choice based programs, which varied according to the several attributes, such as CO2emissions, electricity costs and financial program attributes. Conjoint analysis was carried out to analyze two major research questions. We find that Georgian companies are willing to invest more in LED lighting technologies In addition, we find that the SEFF loan is less attractive than commercial loans. More specifically, cash back currently offered by SEFF is not an attractive option. We find that the reduction in interest rate and time cost can be more effective to attract companies to apply for the SEFF loan to upgrade their lighting technologies.