Energy performance certificates of buildings should be improved and funds for energy efficient investments at EU and national level should be streamlined, according to a new report on boosting finance in energy efficiency investments in buildings, industry and SMEs.
The report by the Energy Efficiency Financial Institution Group (EEFIG), which was published on 26 February 2015, contains recommendations on a range of actions that could help overcome the current challenges to obtaining long-term financing for energy efficiency.
The EEFIG, an expert group set-up by the European Commission and United Nations Environment Programme Finance Initiative identifies a "very strong economic, social and competitive rationale for the up-scaling of energy efficiency investments in buildings and industry in the EU".
It points out that investment in energy efficiency is of strategic importance for the EU since it is a "cost effective manner to reduce the EU's reliance, and expenditure, on energy imports over €400 billion a year."
The report recommends measures such as the creation of energy and cost database for buildings and the development of a project rating system to provide a transparent assessment of the technical and financial risks of energy renovation projects for buildings.
It also says that barriers to expanding the green mortgage market should be addressed and that there should be a review ensuring that current State Aid rules do not unnecessarily burden accelerated energy efficiency investments.
The EEFIG, containing over 120 expert participants, was established in 2013 to address the need to increase the scale of energy efficiency investments across the EU.
See further here