Energy efficiency – the first fuel for the EU economy – interim report:
How to drive new finance for energy efficiency investments - Part 1: Buildings (Interim Report)
51 organisations, gathered in the Energy Efficiency Financial Institutions Group (EEFIG), agree that energy efficiency is the “first fuel” for the EU, as it is competitive, cost effective to achieve and widely available. In order for energy efficiency to become the rule rather than the exception, the group published an interim report providing recommendations to trigger more investments in energy efficiency in buildings. To achieve a deep energy efficient renovation of buildings in the EU and deliver the multiple benefits this brings, policy-makers and market participants need to work together to build upon the successful models which exist – permitting the generalization and expansion of these models across the continent. EEFIG members agree that energy efficiency investments produce a wide range of benefits for multiple stakeholders and increase energy security. To achieve this outcome, a historic level of public-private collaboration will be required.
Energy efficiency being of growing strategic importance for Europe, and the EU being at risk of missing its targets unless energy-efficiency investment increase, are the key reasons why this report was produced. The EEFIG policy recommendations can be summarized as follows:
- Effective transposition, implementation and enforcement of existing legislation governing the building sector, and connecting to a 2050 vision of EU buildings;
- Increased focus on standards and open-source access to all aspects of buildings performance data and investment processes;
- Increased capture and articulation of the multiple benefits of energy efficiency investments for decision makers and in reporting; and
- Optimal use of Structural and Investment funds 2014-2020, Horizon 2020 and ETS revenues to support new and existing Member States activities to meet their agreed objectives under the Energy Efficiency Directive.