TECHNICALREPORT2024 ©2024TheWorldBankGroup 1818HStreetNW,Washington,DC20433 Telephone:202-473-1000;Internet:www.worldbank.org ThisworkisaproductofthestaffofTheWorldBankGroupwithexternalcontributions.“TheWorldBankGroup”referstothelegallyseparateorganizationsoftheInternationalBankfor ReconstructionandDevelopment(IBRD),theInternationalDevel-opmentAssociation(IDA),theInternationalFinanceCorporation(IFC),andtheMultilateralInvestmentGuaranteeAgency(MIGA). TheWorldBankGroupdoesnotguaranteetheaccuracy,reliabilityorcompletenessofthecontentincludedinthiswork,ortheconclusionsorjudgmentsdescribedherein,andacceptsnoresponsibilityorliabilityforanyomissionsorerrors(including,withoutlimitation,typographicalerrorsandtechnicalerrors)inthecontentwhatsoeverorforreliancethereon.Theboundaries,colors,denominations,andotherinformationshownonanymapinthisworkdonotimplyanyjudgmentonthepartoftheWorldBankGroupconcerningthelegalstatusofanyterritoryortheendorsementoracceptanceofsuchboundaries.Thefindings,interpretations,andconclusionsexpressedinthisvolumedonotnecessarilyreflecttheviewsoftheorganizationsoftheWorldBankGroup,theirrespectiveBoardsofExecutiveDirectors,andthegovernmentstheyrepresent. Thecontentsofthisworkareintendedforgeneralinformationalpurposesonlyandarenotintendedtoconstitutelegal,securities,orinvestmentadvice,anopinionregardingtheappropriatenessofanyinvestment,orasolicitationofanytype.Someoftheorga-nizationsoftheWorldBankGrouportheiraffiliatesmayhaveaninvestmentin,provideotheradviceorservicesto,orotherwisehaveafinancialinterestin,certainofthecompaniesandpartiesnamedherein. NothinghereinshallconstituteorbeconstruedorconsideredtobealimitationuponorwaiveroftheprivilegesandimmunitiesofanyoftheorganizationsofTheWorldBankGroup,allofwhicharespecificallyreserved. RightsandPermissions Thematerialinthisworkissubjecttocopyright.BecauseTheWorldBankGroupencouragesdisseminationofitsknowledge,thisworkmaybereproduced,inwholeorinpart,fornoncom-mercialpurposesaslongasfullattributiontothisworkisgivenandallfurtherpermissionsthatmayberequiredforsuchuse(asnotedherein)areacquired.TheWorldBankGroupdoesnotwarrantthatthecontentcontainedinthisworkwillnotinfringeontherightsofthirdparties,andacceptsnoresponsibilityorliabilityinthisregard.AllqueriesonrightsandlicensesshouldbeaddressedtoWorldBankPublications,TheWorldBankGroup,1818HStreetNW,Washington,DC20433,USA;e-mail:pubrights@worldbank.org. TECHNICALREPORT Acknowledgments LeonardoIacovone,MatiasBelacin,XavierCirera,andSantiagoReyesOrtegaauthoredthisreport.Chapter1isbasedonanearlynotebyGiorgiMukhilishvili.ThereportwaspreparedunderthesupervisionofIliasSkamnelos(PracticeManager)andtheoverallguidanceofLalitaMoorty(RegionalDirector)andSebastianMo-lineus(CountryDirector).TheauthorsarethankfulforcommentsreceivedduringthereviewmeetingfromKevinCarey,PenelopeAnnMealy,MarcioCruz,MonaPrasad,FlorianKitt,MiguelEduar-doSanchezMartin,andTeonaElizarashvili.Theauthorsaregrate-fultothecompaniesthatagreedtoparticipateinthecasestudies,ourcounterpartsfromtheGovernmentofGeorgia,inparticulartheMinistryofEconomyandSustainableDevelopmentandtheMin-istryofFinance(MoF),aswellasvariousstakeholders,includingrepresentativesoftheprivatesectorandtheEuropeanCommis-sion(EC)delegationinTbilisiwithwhomthepreliminaryfindingsofthisreportweresharedanddiscussed.Theauthorsareespecial-lythankfultotheNationalStatisticsOfficeofGeorgia(GEOSTAT)foranextremelyeffectiveandproductivecollaborationonthedatacollectionfortheTechnologyAdoptionSurveyandtheirwillingnesstoshareanonymizedfirm-leveldata,whichallowedtheauthorstoperformmostoftheanalysispresentedinthisreport. I Abbreviations GreeningFirmsinGeorgia BATBestavailabletechnology CAPClimateActionPlan CCCClimateChangeCouncil CFLCompactfluorescentlamps CIPConservationImprovementProgram CO2Carbondioxide CPIConsumerPriceIndex CRMCustomerRelationshipManagement DOPDDynamicOlley-PakesDecomposition EBRDEuropeanBankforReconstructionandDevelopment ECEuropeanCommission ECAEuropeandCentralAsia EEEnergyefficiency EEDEnergyEfficiencyDirective ERPEnterpriseResourcePlanning ESCOEnergyservicecompanies ESIEnergysavingsinsurance ETLEnergyTechnologyList EUREMEuropeanEnergyManagers FATFirm-levelAdoptionofTechnologies FEFixedeffects FEMPFederalEnergyManagementProgram FIRAFideicomisosInstituidosenRelaciónconlaAgricultura GBFGeneralBusinessFunctions GCFGreenClimateFund GEFFGreenEconomyFinancingFacility GELGeorgianLari(currency) GEOSTATNationalStatisticsOfficeofGeorgia GGFGreenforGrowthFund GITAGeorgia’sInnovationandTechnologyAgency GNERCGeorgianNationalEnergyandWaterSupplyRegulatoryCommission IITechnicalReport HELP HomeEnergyLendingProgram IPCC IntergovernmentalPanelonClimateChange IPF Internationalpatentfamily kWh kilowatt-hour LCU LocalCurrencyUnits LED Light-EmittingDiode MEPA MinistryofEnvironmentProtectionandAgriculture MoESD MinistryofEconomyandSustainableDevelopment MoF MinistryofFinance MRV Monitoring,Reporting,andVerification NBG NationalBankofGeorgia NDC NationallyDeterminedContrib