Financing retrofit is a key issue in enabling deep energy retrofit in both the residential and commercial sectors. There are a number of initiatives to address different parts of the building stock. However finance remains one of the key areas where innovation is required if we are to encourage rapid uptake of deep energy retrofit. This can be a combination of supporting measures that makes renovation more attractive to the building owner.
Some related resources:
- Energy Efficiency Directive
- Concerted Action for the Energy Efficiency Directive
- Financing the Energy Renovation of Buildings with Cohesion Policy Funding (February 2014)
- Energy Efficiency Polices in Buildings – The use of Financial Instruments at member state level.
- The KfW experience in the reduction of energy use and CO2 emissions from Buildings
- KfW Jurlich STE_Research_Report 2012
As a member of the World Green Building Council, the Irish Green Building Council is now involved in the Energy efficient Mortgages Action Plan (EeMAP) project.
The EeMAP is a market-led and first-of-its-kind initiative, with its objective being the design and delivery of an ‘energy efficient mortgage product’. This is intended to incentivise the acquisition of energy efficient properties or facilitate the improvement of the energy efficiency of existing properties by way of preferential financing conditions linked to the mortgage. The Initiative aims to demonstrate that energy efficiency has risk mitigation effects for banks because of its impact in enhancing a borrower’s ability to service their loan and on the value of the property/collateral which could, therefore, qualify for a better capital treatment.
A first series of report was published as part of this process in October 2017:
These findings are summarised in a “Preliminary Recommendations – White Paper” available here.
If you want to learn more about this project or wish to get involved please contact Marion[a]igbc.ie or call 01 681 5862.