The European Commission aims to encourage a more effective use of public funds, help project developers bring good project ideas to maturity, and make the energy efficiency market more trusted and attractive for all stakeholders through the “Smart Finance for Smart Buildings” investment initiative.
Smart Finance for Smart Buildings builds upon the Investment Plan for Europe including the European Fund for Strategic Investments (EFSI) and the European Structural and Investment Funds. It can unlock an additional EUR 10 billion of public and private funds for energy efficiency and renewables by 2020.
The initiative builds on three pillars:
- Pillar I. More effective use of public funding.
- Pillar II. Aggregation and assistance with project development.
- Pillar III. De-risking.
What we know so far is that under Pillar I sustainable energy financing models will be developed based on national investment platforms (with a possible regional dimension) to attract additional private financing for building renovation, designed as foreseen in the EFSI Regulation and in line with EU state aid rules.
To find out more please read the Annex I of the Clean Energy for All Europeans Package.