Energy: Commission publishes report on financial support for energy efficiency in buildings
Today the Commission published a report on financial support for energy efficiency in buildings stressing that the EU needs to improve the financial support in this sector if it wants to meet its 2020 and 2050 targets. To this end more financing should be made available and key barriers such as a lack of awareness and expertise regarding financing, relatively high initial costs and perceived credit risk associated with investments must be removed. Member States are in the driver seat for ensuring that more cost-effective investments in building renovation take place. To achieve this, close cooperation between public authorities, finance providers and the building sector is essential, as is the engagement of building owners themselves. The Commission estimates that the European building stock alone has a cost-effective energy savings potential of 65 Mtoe. In monetary terms, this translates to an investment requirement of around €60 billion per year. The report will constitute the basis for a discussion at the Informal Energy Council on 22 April.