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dc.contributor.authorBonte, Loïc
dc.contributor.authorDepoot, Wout
dc.contributor.authorLauwers, Ward
dc.date.accessioned2022-04-28T07:16:47Z
dc.date.available2022-04-28T07:16:47Z
dc.date.issued2021
dc.identifier.urihttp://hdl.handle.net/20.500.12127/7027
dc.description.abstractThis study aims to improve revenue and profitability of Geo-Thermics by investigating a new business model. This way, Geo-Thermics will become more competitive and will be able to reel in a lot more projects. At the moment, there is a lot of competition in the geothermal installations market and this without a strong legal framework, resulting in competitors cutting prices by delivering a bad service. For instance a lot of competitors start drilling less meters, which results in lower heating (or cooling) capacities, literally leaving people in the cold during winter. Next to that, the price of geothermal installations compared to regular gas installations is rather high, which leaves project developers and social housing agencies less inclined to opt for geothermal installations. To become more competitive, the option of an Energy Service Company (ESCO) was investigated where the ESCO is a company that finances the geothermal installation and asks a monthly fee towards residents in return. This way, project developers have to invest less and will be more willing to partner up with Geo-Thermics. Also, Geo-Thermics can offer a different new and innovative service, making Geo-Thermics a lot more competitive. In general, Belgium lacks a strong legal framework towards ESCO’s, as compared to the Netherlands. It is clear that project developers, similar to how ESCO’s operate in the Netherlands, will still pay a part of the installation. A total monthly fee of around €116 (VAT incl.) is obtained for the reference scenario, based on realistic assumptions, obtained through interviews and research. This way, the ESCO will get its investment back by the end of the 8th year. Because of the lack of legal framework, ESCO’s in Belgium are still in their infancy but are starting to pop up here and there. The total monthly fee of €116 (VAT incl.) definitely seems feasible and the profitability of the ESCO is rather good. Next to that, Geo-Thermics will deliver all part of the installations and its revenue will increase substantially. Towards the future, it is important not to neglect the legal side of the story. It’s important to have a better understanding of what happens in case of defaulters. Also, since the legal framework concerning ESCO’s is still missing, it is important to stay informed of possible upcoming legislations. Next to that, it is also required to further investigate whether or not the collective heat pump can decrease the required investment in the future.
dc.description.sponsorshipGeo-Thermics
dc.language.isoen
dc.titleClimate as a service: “Building a new business model for a geothermal energy company”
dc.source.numberofpages124
vlerick.knowledgedomainInnovation Management
vlerick.supervisorSamii, Behzad
dc.identifier.vperid126207
vlerick.companynameGeo-Thermics
vlerick.companysupervisorPlasschaert, Jean-Marie
vlerick.programmeMGM Gent
vlerick.typebusresprojectIn-Company Project


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