- Enforcing existing European legislation
The EU has set a 20% energy efficiency target by 2020 for itself. However, current indicative national targets put forward by the Member States don’t add up to reach this target. Due to many exemptions, requirements for Member States annual savings are reduced to 0.8%.
The Energy Efficiency Directive and Energy Performance of Buildings Directive will be reviewed in 2016. The EU can use this momentum to authorize rigorously enforcement of the legislation and better monitoring of the progress.
A simple, harmonized and consistent system for monitoring and reporting climate and energy legislation, based on binding templates, would increase transparency and enforcement.
- Better technical assistance
Local authorities are leading by example and are developing new innovative financing models to increase renovation rates, mobilize necessary capital and create public-private partnerships. As the closest level of governance to the citizens, local authorities are able to get citizens engaged in energy efficiency. Yet, local authorities have limited access to finance because conditions to obtain technical assistance often exclude small- and medium-sized local authorities. More support in bundling projects between local authorities would allow them to reach critical investment sizes and set up bankable projects.
- Removing financial and legislative thresholds
The fiscal consolidation strategies affect the capacities of local and regional authorities in certain Member States to launch investments. The regulatory frameworks (European System of Accounts, neutrality and “debt consolidation rules”) could better support public energy efficiency investments, and ensure right risk assessments and long-term capital requirements for investments. Legislative frameworks could support further development of Energy Performance Contracting markets, citizen-based financing, green bonds and other instruments featured by CITYnvest.
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