Moving faster on energy efficiency savings
Making homes and businesses more efficient is a key way to address global warming and meet our climate targets. To support the European Union’s policy objectives, the European Investment Bank offers many financial and advisory products and initiatives aimed specifically at building renovation. These products can help many stakeholders, such as owners, developers, cities, municipalities, housing companies, investment funds, corporations and financial intermediaries.
One initiative run by the European Investment Bank and the European Commission, the Smart Finance for Smart Buildings Initiative, targets energy efficiency in existing buildings, particularly in the residential sector. This programme aims to unlock billions of euros in public and private energy efficiency investment by 2020.
The EU bank lends money directly to projects, but it also gives loans through regional and national banks and other institutions. These banks then pass on loans to small businesses and homeowners. The Private Finance for Energy Efficiency programme, run by the European Investment Bank with the European Commission, offers loans and credit-risk protection to commercial banks, which then finance energy efficiency projects at small and medium-sized companies around Europe.
To make the loan process easier, a new Private Finance for Energy Efficiency tool, called the Energy Efficiency Quick Estimator, can be customised by local banks to help people understand the savings for typical energy efficiency projects, such as replacing a boiler or adding LED lights and solar panels. You can enter basic information, such as the project’s location or whether solar panels will be integrated, and the tool estimates energy savings, cost savings and emission reductions.