Duke Carbon Offsets Initiative: Energy Efficiency Carbon Offsets
Abstract
Duke University aims to achieve carbon neutrality by 2024 by a combination of efforts
to reduce on campus energy consumption and off campus carbon offset generation. One
of the offset options that DCOI is evaluating is energy efficiency retrofits in residential
buildings leading to indirect emission reductions. The problem we have attempted to
address in our project is how Duke University can identify potential carbon offset
opportunities in terms of improving energy efficiency in homes and businesses and
how these offsets can be verified and quantified. In order to determine the potential
savings in energy consumption, we evaluated energy data from a similar energy retrofit
project conducted by the City of Durham. The pre and post retrofit energy consumption
data from these houses was analyzed to determine the energy savings, the resultant
carbon emissions reduction and the carbon price. The second step of the project involved
studying energy efficiency retrofit projects that have been undertaken in other regions
at various levels and sizes. The last question that this project aimed to answer was
regarding the suitability of various financing mechanisms for the retrofitting project.
In order to address this question a demand assessment survey was designed to determine
the willingness of Duke employees to participate in such a program and pay for the
retrofits. The results of our analysis showed that average electricity savings of
113.13 KWh per month can be generated through retrofits including air and duct sealing
and insulation enhancement. The average cost of retrofit was determined to be $1/sq
feet of heated area. Using this investment cost and annual savings, the carbon price
was determined to be 133.37 $/metric ton of CO2 equivalent reduction. Sensitivity
analysis conducted for this carbon price showed that the factors that had the largest
impact on carbon price are the initial investment and annual energy savings. The final
set of recommendations provided to DCOI are based upon the results obtained from the
City of Durham data analysis and the comparative programs and carbon price study along
with the essential project requirements for meeting the Verified Carbon Standard carbon
offset program criteria.
Type
Master's projectSubject
energy efficiencycarbon offset
carbon offset standard
carbon price
willingness to pay
demand assessment survey
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https://hdl.handle.net/10161/6906Citation
Chauhan, Sugandha; Lu, Aaron; & Chen, Yunzhong (2013). Duke Carbon Offsets Initiative: Energy Efficiency Carbon Offsets. Master's project, Duke University. Retrieved from https://hdl.handle.net/10161/6906.Collections
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