CLEAN ENERGY FOR ALL EUROPEANS Smart Finance for Smart Buildings Initiative Renovate Europe Campaign, 22 February 2017, Brussels
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CLEAN ENERGY FOR ALL EUROPEANS
Smart Finance for
Smart Buildings
InitiativeRenovate Europe
Campaign,
22 February 2017, Brussels
CLEAN ENERGY FOR ALL EUROPEANS
WHAT pieces of legislation on Energy
Efficiency?
CLEAN ENERGY FOR ALL EUROPEANS
Assistance and aggregation
De-risking
MAJOR GOALS
More effective use of public funds
THE "SMART FINANCE FOR SMART BUILDINGS" INITIATIVE
CLEAN ENERGY FOR ALL EUROPEANS
17 bn EUR for energy efficiency
2014-2020315 bn EUR
(23 % for energy)
The "Smart Finance for Smart Buildings" initiative is built on:
CLEAN ENERGY FOR ALL EUROPEANS
• EEFIG: The Energy Efficiency Financial Institutions Group
• Established in 2013
• 120 active participants from 100 organisations
The "Smart Finance for Smart Buildings" initiative is built on:
CLEAN ENERGY FOR ALL EUROPEANS
• High upfront investments
• Sometimes long payback periods
• Lack of evidence on performance data
• Fragmentation/transaction costs/lack of
standardisation
• Complexity of financing and preparing projects
• The market is not "readable" for financiers, not
"visible" for investors
• Financing products do not reflect the EE
fundamentals
Barriers to energy efficiency financing:
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EEFIG recommends taking actions for:
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Financially viable projectsMarket failures,
vulnerable consumers
• Tailor made
• Off-the-shelf
• EU level
Financial Instruments
• Leverage effect
• Revolving nature
• Competitiveness and quality
Grants/ tax schemes
• Targeted support to solve
specific market issues
More effective use of public funds
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➢ Capacity building actions to further deploy Financial Instruments (e.g. FI Compass,
SEI Forums)
➢ Develop flexible energy efficiency and renewable financing platforms
➢ Goal: deploy attractive financing products to final recipients
➢ 3 key elements:
➢ Up-scaled EIB debt financing via EFSI
➢ A risk-sharing mechanism
➢ A technical expertise and assistance
More effective use of public funds
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➢ Favour public investments in energy efficiency:
➢ Analysing the impact of public accounting rules on the market for energy performance
contracting (task force)
➢ Update of the Eurostat guidance before late spring 2017, as appropriate
More effective use of public funds
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Investable and aggregated projects
PDA
provides
access
to:
➢ Reinforce EU Project Development
Assistance (PDA)
➢ Encourage local/regional one-stop-
shops
Audit
Decision
Work
supervision Financing
solution
Energy
Performance
tracking
Project Promoters
(e.g. cities) Contact
Aggregation and Assistance
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Energy efficiency financing, a win/win
situation also for financiers and investors:
More reliable cash flows
Increased asset value
Risk reduction
increased business opportunities
Refinancing opportunities
➢
open source database to disclose real
performance data of real investments
projects
➢ A consensual framework for the
underwriting of investments for energy
efficiency
De-risking
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DEEP is the largest, pan-European, open source evidence base for energy
efficiency project investments in Europe:>7.000 projects already!
DEEP: DE-RISKING ENERGY EFFICIENCY PLATFORM
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➢ A better understanding of the business case behind
energy efficiency investments
➢ A better risks assessment through high quality and
credible data framework
➢ A tool to benchmark projects or portfolios of projects
DEEP will bring to financiers, investors and project developers:
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➢ Payback per Measure
➢ Avoidance costs
➢ Energy savings
➢ Others, e.g. additional benefits
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• Help bridge the gap between the technical world and
the financial world
• Commonly accepted framework and language for
underwriting energy efficiency projects
• Covers both the multiple sources of value from energy
efficiency investments and the risks
EEFIG’s ENERGY EFFICIENCY UNDERWRITING GUIDANCE - objectives
CLEAN ENERGY FOR ALL EUROPEANS
17 #EnergyUnion
Thank you!
Timothée Noël
Policy Officer – Energy Efficiency Unit
DG ENER, European Commission
https://ec.europa.eu/energy/en/news/commission-proposes-new-rules-consumer-
centred-clean-energy-transition
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