Importance Due to the crisis situation in economy, it gets especially important to consider the poor development level of energy services, which would allow for retrofitting inefficient equipment without budgetary funds raised, in the housing and utilities sector. Objectives The research identifies the factors hindering the development of energy service, especially in the housing and utilities sector. I also evaluate the extent to which the factors influence the efficiency of energy saving and energy efficiency improvement programs, which are implemented as part of energy service contracts. The research determines which factor plays the most significant role. Methods The research relies upon econometric methods of research. Results Having analyzed the effect of the factors under study, I found that legislative and regulatory requirements had the highest adverse effect on the development of energy services. Hence, many investors are reluctant to cooperate under energy service contracts. Conclusions To make energy services more attractive, it is reasonable to consider terms of energy service contracts, the procedure for generating the amount of savings as a result of energy efficiency measures under the energy service contract, and the need to set up a mechanism ensuring the return of savings to the energy servicing company.
Keywords: energy service contract, investor, company, efficiency, project
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