The European Commission published recently the “Clean Energy for all Europeans” package featuring new legislative proposals for the energy future of the European Union.
From the perspective of financing energy efficiency in buildings and CITYnvest, there are four points worth mentioning:
- Smart Financing for Smart Buildings initiative (annex “Accelerating clean energy in buildings”) is the most important part of this package. It spotlights the increasing role of the European Fund for Strategic Investments (EFSI) and the planned support to improve the capacities of managing authorities, banks and local and regional energy agencies to make better use of the available European funds in the energy efficiency field, and the local level to pool investments.
- The lack of confidence in the market due to insufficient information on financial and technical track records of energy efficiency projects was often mentioned by local actors during the CITYnvest workshops. The De-risking Energy Efficiency Platform (DEEP) was developed as the 3rd pillar of the Smart Financing for Smart Buildings. DEEP is an open-source database for energy efficiency investments projects, which demonstrates the technical and financial performance of over 5,000 European industrial and buildings energy efficiency initiatives. The case studies featured by CITYnvest have already contributed to the development of DEEP, and project developers, financiers, and investors are invited to further populate this open-source database and benefit from its benchmarking features and peer-to-peer learning.
- The Clean Energy Package promises that Eurostat, will investigate the consequences of energy efficiency related investments on the balance sheet of public authorities. The statistical treatment of these investments is currently a major hurdle for local governments to invest in energy efficiency. The Commission suggests coming up with solutions in spring next year.
- CITYnvest is mentioned in the “Commission Staff Working Document - Good practice in energy efficiency” accompanying the proposed recast of the Energy Efficiency Directive. Significant amount of information from our analysis report and data produces by CITYnvest on the case studies are included in the Commission’s paper.
More information on the Comission's website.