globalchange  > 气候变化与战略
DOI: 10.1016/j.enpol.2021.112137
论文题名:
Should commercial mortgage lenders care about energy efficiency? Lessons from a pilot study
作者: Mathew P.; Issler P.; Wallace N.
刊名: Energy Policy
ISSN: 03014215
出版年: 2021
卷: 150
语种: 英语
中文关键词: Commercial building mortgages ; Energy efficiency ; Energy risk ; Mortgage default risk
英文关键词: Intelligent buildings ; Public policy ; Risk analysis ; Risk assessment ; Coverage ratio ; Energy efficient building ; Interest rates ; Lower energies ; Operating Income ; Pilot studies ; Policy implications ; Probability of defaults ; Energy efficiency ; building ; cost analysis ; energy efficiency ; energy policy ; incentive ; mortgage lending ; probability ; risk assessment ; risk factor
英文摘要: Commercial mortgage underwriting practices currently do not fully account for energy risks to net operating income (NOI), especially changes in energy costs over the course of a mortgage term. This paper first introduces two metrics that can be used to characterize the increase in default risk due to increases in energy costs during a mortgage term: decrease in debt service coverage ratio (ΔDSCR); and increase in probability of default (ΔDP). Both these metrics were designed to be simple to calculate, utilizing data that are already being collected in loan applications. Next, we present results from a pilot study on the application of these metrics to five loans from three lenders. The results show that energy risks can vary between different properties and across different years within a given property, due to variations in energy usage. All three lenders concurred that these results suggest energy risks can in fact be material, and affirmed the metrics are a viable approach to incorporate energy risk analysis into mortgage underwriting. The policy implications include energy cost disclosure in loan applications; and incentives such as lower interest rates for energy efficient buildings and additional loan proceeds to improve efficiency and lower energy costs. © 2021 Elsevier Ltd
Citation statistics:
资源类型: 期刊论文
标识符: http://119.78.100.158/handle/2HF3EXSE/167925
Appears in Collections:气候变化与战略

Files in This Item:

There are no files associated with this item.


作者单位: Lawrence Berkeley National Laboratory, Berkeley, CA 94720, United States; Haas School of Business, University of California Berkeley, Berkeley, CA 94720, United States

Recommended Citation:
Mathew P.,Issler P.,Wallace N.. Should commercial mortgage lenders care about energy efficiency? Lessons from a pilot study[J]. Energy Policy,2021-01-01,150
Service
Recommend this item
Sava as my favorate item
Show this item's statistics
Export Endnote File
Google Scholar
Similar articles in Google Scholar
[Mathew P.]'s Articles
[Issler P.]'s Articles
[Wallace N.]'s Articles
百度学术
Similar articles in Baidu Scholar
[Mathew P.]'s Articles
[Issler P.]'s Articles
[Wallace N.]'s Articles
CSDL cross search
Similar articles in CSDL Cross Search
[Mathew P.]‘s Articles
[Issler P.]‘s Articles
[Wallace N.]‘s Articles
Related Copyright Policies
Null
收藏/分享
所有评论 (0)
暂无评论
 

Items in IR are protected by copyright, with all rights reserved, unless otherwise indicated.