A practical guide has been issued to help unlock EU funds estimated at €23bn to support energy efficiency improvements in regions across Europe. These funds are expected to trigger private investment, create local jobs and generate high returns.
The quantity of funding allocated by the EU for Sustainable Energy and Energy Efficiency in the 2014-2020 Structural Funds is expected to more than double from the last funding period, to an estimated €23bn. In addition, a specific 'off-the-shelf' financial instrument for the residential buildings sector has been introduced in the 2014-2020 Structural Funds aimed at boosting renovations in Europe’s regions. Through a ‘fast-track’ approval process, this renovation loan aims at securing preferential conditions for building owners to invest in energy efficiency assets through a combination of public and private resources.
The Renovate Europe Campaign has produced a practical guide to help stakeholders through the basic steps for designing a multi-fund programme to renovate the building stock and tap into available EU funds.
The campaign is an initiative with an over-arching ambition to achieve an 80% reduction of the energy demand of the existing EU building stock by 2050 compared to 2005. It is calling for ambitious renovation strategies to be drawn up all across the EU in order to triple the annual renovation rate of buildings in the EU from 1% to 3% by 2020 and to ensure that all renovations are deep.
The Structural Funds are required to stimulate growth, reduce regional disparities and deliver tangible benefits to European citizens. The energy efficient renovation of buildings, including upgrading the energy performance of glazing, represents an ideal opportunity in the upcoming funding period.
For more information on the Renovate Europe Campaign, please click here.