Study On Incentive Mechanism Of Saving Energy Program Base On Principal-agent Model

After twice oil crisis in the 1970’s, the problems of energy utilization and environmental protection have gotten widely attention, energy conservation and emissions reduction has become the world’s long-term policy goals. At the same time, China’s energy production and consumption have been rapidly grown, and the consumption growth is greater, which has made the supply gap widening. In order to optimize the resource allocation problem, vigorously develop energy-saving projects in electric power industry are put forward in China.Energy-saving projects are usually based on the contract signed by electric power users and the energy conservation service company, which is invest by both sides, and share the benefit according to contract. In recent years, the Chinese government actively guide energy conservation industry system developed through policy, the social consciousness is improving year by year, but what kind of incentive mechanism the energy conservation service company should establish, to mobilize the user participation for energy saving has been lack of theoretical research, so the paper aimed at the characteristics of electric market in China, focused on energy-saving projects based on demand side management, compared the three branches of contract theory and select principal-agent theory to build model, analysis the relationship between them and their behavior characteristics, also power user’s optimal level of participation From the perspective of energy conservation service company.Based on the electric power market operation data in 2013 of some city, it simulation calculated the energy-saving projects benefit, after the qualitative analysis of different scenarios, it summarized three conclusions, and design the incentive measures that energy conservation service company should implement, put forward reasonable incentives, so as to reduce their investment risk and to enhance the overall income of the projects, in fact, it has great significance to break through the energy saving project of the existing development dilemma, promote the smooth promotion of energy saving project, realizing the social benefits. These studies provide the basis for energy conservation service company in demand side management, expanding the energy conservation service market.